The Canadian cannabis stocks on our list have discussed plans for listing on either the NASDAQ or NYSE
SmallCapPower | October 4, 2018: As we get closer to recreational legalization in Canada on October 17, cannabis companies are increasingly interested in an up-listing to a major U.S. stock exchange. A listing to a U.S. exchange would generally allow for more liquidity and could slightly boost the share price, as the stock is now accessible to a broader range of investors. Tilray Inc. (NASDAQ:TLRY), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), and Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) have all benefitted from listing south of the border. Today we have identified four Canadian cannabis stocks that have announced their intentions to list on a major U.S. stock exchange, which could provide a big boost to their stock prices.
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Aleafia Health Inc. (TSXV:ALEF) – $3.12
Aleafia Health is involved in the production and sale of cannabis products, as well as consultation services to determine the suitability of the Company’s products for treating various chronic conditions. Aleafia operates 22 referral-only medical cannabis clinics across Canada, assisting more than 50,000 patients to date. In addition, the Company expects its annual cannabis production capacity to hit 38,000 kg by 2019. On October 2, 2018, the Company announced it had submitted an application to list on the NASDAQ.
- Market Cap: $429.8 Million
- YTD Year Return: +221.7%
Namaste Technologies Inc. (TSXV:N) – $1.93
Namaste Technologies is an international cannabis eCommerce company operating across 20 countries and utilizing machine learning to provide patients access to medical cannabis products. In 2018, the Company announced that it plans on establishing Namaste MD, a secure telemedicine portal designed to connect doctors with patients in need of medicinal cannabis. The platform will provide patients with an online portal to receive doctor consultations, receive medical marijuana recommendations, and have their prescription shipped to their home through a same-day or two-day delivery option. The Company is currently pushing forward with its application to list on the NASDAQ, submitted in July. To meet listing requirements, the Company’s shares must trade above US$4.
- Market Cap: $570.7 Million
- YTD Return: -44.2%
Aurora Cannabis Inc. (TSX:ACB) – $12.55
Aurora Cannabis is one of Canada’s largest cannabis companies by market cap, third only to Canopy Growth Corp and Tilray. The Company recently released its full-year 2018 financial results, with revenues coming in at $55.2 Million, an increase of 206% from the prior year. The Company has made headlines lately as news broke that Coca Cola was potentially in talks with Aurora to produce cannabis-infused beverages. While Aurora said later there was no beverage deal to announce, it has sparked considerable interest in the infused beverages market. Aurora Cannabis is currently targeting October to list on a major U.S. exchange.
- Market Cap: $12.0 Billion
- 1 Year Return: +0.9
Alkaline Water Company Inc. (TSXV:WTER) – $5.92
Soft Drinks and Beverages
Alkaline Water Company produces and distributes bottled alkaline water products but has more recently moved into the CBD-infused beverage space. The Company formed a wholly-owned subsidiary called A88 Infused Beverage Division Inc. to expand its presence in the growing CBD market, a market that is expected to grow to US$2.1 Billion in 2020, up from today’s estimated valuation of US$202 Million. On October 1, 2018, Alkaline Water announced the submission of its application to list on the NASDAQ.
- Market Cap: $147.4 Million
- YTD Return: +604.1%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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