Sundial, Canopy Growth And More: Analyst Examines The Race For The US Cannabis Market
Portfolio Pulse from Nicolás Jose Rodriguez
US legal cannabis sales are predicted to exceed $28 billion in 2023, prompting Canadian cannabis producers to consider focusing on exporting or partnering with US companies. Some Canadian companies, such as Canopy Growth and Sundial Growers, have already made strides in the US market. Canopy Growth has outperformed other producers since the news of cannabis rescheduling. Canadian cannabis exports reached C$160 million in FY23, a 50% increase from the previous fiscal year.
September 10, 2023 | 4:48 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Canopy Growth has outperformed other producers since the news of cannabis rescheduling, indicating a positive investor sentiment.
The news of cannabis rescheduling has positively impacted Canopy Growth's performance, indicating that investors are favoring companies with US exposure.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Cronos Group has the option to acquire a stake in PharmaCann, which could potentially increase its market share.
Cronos Group's potential acquisition of a stake in PharmaCann could increase its market share and positively impact its stock.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Organigram Holdings saw growth in exports, indicating a positive trend in its performance.
Organigram Holdings' growth in exports indicates a positive trend in its performance, which could positively impact its stock.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Sundial Growers is exploring opportunities to enter the US market, which could potentially boost its revenues.
Sundial Growers' potential entry into the US market could lead to increased revenues and growth, positively impacting its stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Tilray has invested in US beer and spirits assets for potential future revenue synergies once cannabis is legalized in the US.
Tilray's investment in US beer and spirits assets indicates a strategic move to capitalize on potential future revenue synergies once cannabis is legalized in the US.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80