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cbd oil stocks on robinhood

Ironically, the least attractive of these top five Robinhood stocks in my view is the most popular one. Sundial Growers faces the steepest challenge. The company’s revenue fell year-over-year in the fourth quarter. Sundial also posted another big net loss.

The biggest opportunity of all is in the United States. None of these Canadian companies can enter the U.S. cannabis market as long as marijuana remains illegal at the federal level. However, it’s possible that major cannabis reform could change this status in the not-too-distant future.

These aren’t the only cannabis stocks in Robinhood’s top 100, by the way. Tilray (NASDAQ:TLRY) currently ranks at No. 39. Cronos Group is No. 51 on the list. And Hexo lags behind at No. 70.

How they compare

It’s not a coincidence that all of these stocks are Canadian cannabis producers. U.S.-based cannabis companies can’t list their shares on major U.S. stock exchanges. Since Robinhood doesn’t support trading for most over-the-counter stocks, these U.S. marijuana stocks can’t be bought or sold on the platform.

Robinhood regularly updates its list of the 100 most popular stocks. This list is based on which stocks are most widely held by its customers. The following five pot stocks ranked the highest:

Data source: Robinhood. All data as of March 19, 2021.

All five companies have the same opportunities in the Canadian cannabis market. However, Canopy Growth and Aphria appear to be in the strongest position. Canopy’s market share in the Canadian recreational market stands at 15.7%. After Aphria’s merger with Tilray, which is expected to close in the second quarter, the combined company anticipates having a market share of 17.3%.

On the date of publication, Faisal Humayun did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The merger has created an entity with a leading position in recreational cannabis in Canada. In addition, Tilray now has expanding presence in Europe and the United States. With a big addressable market in recreational and medicinal cannabis, the company is positioned to grow.

It seems that SNDL stock has bottomed out. With the current cash buffer, it’s likely that revenue and EBITDA growth will accelerate in the coming quarters.

Canopy Growth (CGC)

Source: Jarretera / Shutterstock.com

Source: Jarretera / Shutterstock.com

After the completion of the merger with Aphria, TLRY stock is possibly among the top cannabis stocks to consider buy on Robinhood.

The correction has been on profit-book and significant equity dilution. With the capital raising program, the company reported cash and equivalents of $873.5 million as of the first quarter.