November looks to be a promising month for marijuana stocks. Although we are only a few weeks into the month, it could shape up to be a solid time frame for cannabis stocks to show some momentum. A lot of what happens in the next thirty days depends on investor sentiment and any updates to the cannabis industry at large. But, with a new month comes the new potential for both pot stocks and investors.
We all know that the largest marijuana stocks like Canopy Growth Corp. (CGC Stock Report) and Tilray Inc. (TLRY Stock Report), are popular; but what about the less popular marijuana stocks to watch? These marijuana stocks could be ancillary pot stocks like Innovative Industrial Properties Inc. (IIPR Stock Report) or Scotts Miracle-Gro Inc. (SMG Stock Report), but there is quite a large range. As always, investors should continue to seek out value where it can be found. The process of finding a pot stock to buy can be made much easier with a commitment to researching a given company. With that in mind, here are two marijuana stocks to watch that could show value in November.Marijuana Stock To Watch #1 TerraScend Corp.
TerraScend Corp. (TRSSF Stock Report) may not be a marijuana stock that most have heard of, but the company has shown a lot of potential. In the past 7 months, TRSSF stock has seen great momentum. This is quite an incredible gain and should not go unnoticed. CEO of TerraScend, Jason Ackerman recently stated that “our strong top and bottom-line performance reflects our unwavering commitment to achieve best in class results from our operations. We have been thoughtful in our approach to expanding our business, primarily focused on the areas of the U.S. market where we see the highest probability of sustained, long term growth.”
The company has been working on growing large quantities of cannabis around the U.S. in areas like New Jersey and Pennsylvania. With this, it then is able to sell the raw cannabis flower retail in states where it has operations. Recently, TRSSF stock posted an adjusted EBITDA just shy of $12 million. In addition, TRSSF stock also posted that it had as much as $75 million in free cash. For this reason, it continues to be an intriguing marijuana stock to watch.Marijuana Stock To Watch #2 Aphria Inc.
Aphria Inc. (APHA Stock Report) is one of the most widely talked about marijuana stocks in the industry. APHA stock has gained its fame by producing large quantities of cannabis for sale in Canada and around the world. With everything from vapes to beverages and more, Aphria has been able to garner a large market share over the past few years. Recently, APHA stock posted positive EBITDA for the fifth consecutive quarter. This is quite rare for the largest pure-play marijuana stocks. Most of the pot stocks in the same category have struggled to post any profit, let alone profitability for five quarters in a row.
The company has continued to show its mastery of the Canadian cannabis industry by capitalizing on several markets domestically. So far in its fiscal 2020 year, APHA stock has reported around CA$540 million in revenue. This represents more than 120% in growth from the previous year. Because APHA stock is growing so quickly, many investors have begun to take notice of the company. But, investors should also note that APHA stock is quite volatile. With this in mind, investors can make the decision as to whether or not Aphria is a pot stock to watch.