It’ll likely cause them to miss out on the Santa Claus rally for cannabis stocks. And you can use that to your advantage.
In mid-November, Canada’s top four cannabis stocks reported earnings. These companies included Aurora Cannabis (NYSE: ACB), Canopy Growth (NYSE: CGC), Cronos Group (NASDAQ: CRON) and Tilray (NASDAQ: TLRY).
All four companies reported amazing sales growth.
Even so, some pot stock “bears” were hoping for more. They argued that Canada had legalized cannabis on Oct. 17. And therefore, they were expecting even better results.
Here’s why they were WRONG . . .
The third quarter ENDED on Sept. 30. That was 17 days before recreational sales commenced in Canada.
Now, some Canadian cannabis companies shipped cannabis to government-approved stores in advance of the retail sales. And they recorded some sales of cannabis for the adult-use market.
However, many companies, including Canopy Growth, recognized zero sales for the adult use market during the third quarter.
Nobody should have expected to see the impact of Canada’s new recreational market during the last quarter.
In February – when companies are reporting fourth-quarter earnings – we’ll get details on the new adult-use market.
If Canada is anything like California, Colorado, Oregon, Nevada or Washington, we’ll see blowout numbers well ahead of expectations.
Here’s the thing . . .
- Canopy Growth grew sales by 33% . . .
- Tilray revenues increased 85% . . .
- Cronos revenues surged 187% . . .
- And Aurora Cannabis sales jumped 260%.
These are the biggest players in Canada. And they’re experiencing tremendous growth from the medical marijuana market.
What do you think will happen now that recreational sales are LIVE?
I won’t make you guess.
The sales are going to surge. And the recent growth of 33% to 260% will appear to be very, very low.
The pot stock bears are going to be caught off guard. And that makes now your chance to bank the biggest profits.
Go here now for my urgent briefing (you won’t see this on CNBC).
Yours in Profits,
P.S. There is tons of news on the horizon that could send these cannabis stocks surging before January.
Now’s the best time to BUY these top cannabis stocks.