3 Momentum Driven Canadian Cannabis Stocks

Canadian marijuana stocks recorded volatile price movements yesterday and many investors are watching how the sector responds today. 

This drop took place during a significant rally where several licensed medical marijuana producers are trading at overbought levels. We remain bullish on the Canadian cannabis opportunity and recommend monitoring trading volume and momentum as these metrics will help you understand the direction that these stocks are heading.

Today, we want to highlight 3 Canadian licensed medical marijuana producers that are focused on international opportunities and are trading at overbought levels.

CannTrust Holding (TRST.CN) (CNTTF)

In August, CannTrust Holdings went public and commenced trading on the Canadian Stock Exchange. The Canadian medical marijuana producer has been a top-performer and the shares are up approx. 150% since it started trading.

We are favorable on CannTrust due to its massive Canadian medical marijuana patient base (31,000+), its international exposure, its current expansion within Canada, and its management team.

Yesterday, CannTrust received Health Canada approval to export medical marijuana to countries where it is legal. The Canadian medical marijuana producer started shipping to Australia and expects to start shipping to Germany, Denmark, and Brazil soon. This is what stock investors need to keep an eye on.

Aurora Cannabis Inc. (ACB.TO) (ACBFF)

Aurora Cannabis has been nothing short of an execution story since January 2016, which is when the company started on-boarding medical marijuana patients. Since then, the licensed medical marijuana producer has become one of the largest providers of medical marijuana (by number of registered patients) and has entered new markets (Australia and Germany).

Over the last year, Aurora has significantly increased its market share and is levered to burgeoning marijuana markets across the globe. The company has one of the strongest balance sheets and has made several strategic investments and acquisitions.