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Best Canadian cannabis stocks of 2021

These are the best weed stocks to buy now in Canada.

Our top picks for the best cannabis stocks include Canopy Growth, The Green Dutchman and WeedMD. We also list other weed stocks worth watching on as the sector continues to expand and more competitors enter the space.

What you should know before buying weed stocks

This list of the best weed stocks is meant to help you conduct your own research in finding the best cannabis stocks to buy right now. It is not investment advice. No single stock or list of stocks will suit all investors, and we all have different goals and needs.

Whether you care more about short-term capital gains or long-term dividend growth, it’s important to know whether a stock is performing well, making a profit, paying dividends or going backwards. Always remember that past performance does not guarantee future results. Investments can increases and decrease in value.

How to invest in marijuana in Canada

How did we pick the best Canadian cannabis stocks?

We used Finder’s proprietary algorithm to identify the best weed stocks listed on the TSX based on price, performance, profit, revenue and dividends. Our fundamental analysis filters stocks by taking into account historical prices, dividends, revenue growth, (low) price volatility and profit margins.

To avoid smaller, more speculative stocks, we only include companies with a market cap of more than CAD $200 million. In order to better compare historical data, we filtered out stocks that have been listed for less than five years.

We do not guarantee the performance or returns of any investment. Our methodology might filter out some good stocks, so our decision to include or exclude a stock from this list does not indicate whether it’s a good or bad investment. For more info about our algorithm, check out our stock ranking page.

The algorithm was last updated 27 January 2021. This list and data was compiled July 6, 2021.

Best Canadian cannabis stocks to watch in 2021

  1. Canopy Growth Corporation
  2. WeedMD Inc.
  3. The Green Organic Dutchman Holdings Ltd

Other weed stocks to watch


Canopy Growth Corporation logo: best Canadian cannabis stocks

Canopy Growth Corporation (TSX: WEED)

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.

  • Market cap: C$11.752 billion
  • YTD performance: -8.29%
  • 1 Year performance: 56.65%
  • 5 Year performance: 961.54%
  • P/E Ratio: N/A
  • Headquarters: Canada


WeedMD logo: best cannabis stocks in Canada

WeedMD Inc. (TSXV: WMD)

WeedMD Inc. produces, distributes, and sells medical-grade cannabis in Canada. It offers dried cannabis, cannabis plants and seeds, cannabis oil, edibles, extracts and topicals, and others, as well as cannabis flower products. WeedMD sells to medical patients, across the senior’s market, through supply agreements with Shoppers Drug Mart and through 6 provincial distribution agencies.

  • Market cap: C$70.288 million
  • YTD performance: 16.33%
  • 1 Year performance: -39.36%
  • 5 Year performance: 147%
  • P/E Ratio: N/A
  • Headquarters: Canada

The Green Organic Dutchman logo: best cannabis stocks in Canada

The Green Organic Dutchman Holdings Ltd (TSX: TGOD)

The Green Organic Dutchman Holdings Ltd., through its subsidiaries, produces and sells organic cannabis in Canada. It offers organic cannabis products, such as cannabis plants, cannabis plant seeds, dried cannabis, fresh cannabis, cannabis oils, cannabis topicals, cannabis extracts, and edible cannabis to retailers or distributors, and federal licensed entities.

  • Market cap: C$181.884 million
  • YTD performance: 52.09%
  • 1 Year performance: 69.77%
  • 5 Year performance: 69.77%
  • P/E Ratio: N/A
  • Headquarters: Canada


Other weed stocks to watch

These other Canadian weed stocks may be worth keeping an eye on as the sector continues to grow.

Tilray logo: best weed stocks in Canada

Tilray, Inc. (TSX: TLRY)

Tilray Inc. (formerly known as Aphria Inc.) researches, cultivates, produces and distributes medical cannabis and cannabinoids with operations in Canada, the United States, Europe, Australia, New Zealand and Latin America. The company offers cannabis-lifestyle and consumer packaged goods as well as hemp-based foods and alcoholic beverages. The company supplies cannabis extract products to patients, physicians, pharmacies, hospitals, governments, and researchers.

  • Market cap: C$9.327 billion
  • YTD performance: 102.42%%
  • 1 Year performance: 112.99%%
  • 5 Year performance: 262%
  • P/E Ratio: N/A
  • Headquarters: Canada


Aurora Cannabis Inc. logo: best cannabis stocks in Canada

Aurora Cannabis Inc. (TSX: ACB)

Aurora Cannabis Inc. produces and distributes medical cannabis products worldwide. It is involved in facility engineering and design, cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution. The company produces various dried cannabis, oil, capsules and topical kits for medical use as well as vaporizers and vaporizer accessories.

  • Market cap: C$2.051 billion
  • YTD performance: 0.00%
  • 1 Year performance: -31.77%
  • 5 Year performance: 314%
  • P/E Ratio: N/A
  • Headquarters: Canada


Buy Canadian cannabis stocks through an online broker

To invest in any of these weed stocks, you’ll need a brokerage account. Compare online stock trading platforms below and click “Go to site” to get started.

Name Product Available Asset Types Stock Fee Option Fee Account Fee ETF Transaction Cost Feature Table description
OFFER
Wealthsimple Trade
Stocks, ETFs
$0
N/A
$0
Free
Get a $50 bonus when you open a Wealthsimple Trade account and deposit and trade at least $150.
Pay no commissions when you trade Canadian stocks and ETFs with Wealthsimple Trade.
BMO InvestorLine
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$9.95
$9.95 + $1.25 per options contract
$0 if conditions met, otherwise $25/quarter
$0 - $9.95
Buy and sell a select group of Canada’s most popular ETFs without paying commissions.

An easy-to-use online trading platform with access to research, tools, and the option to access InvestorLine adviceDirect for additional professional support.
Scotia iTRADE
Bonds, Options, Mutual Funds, ETFs, GICs, International Equities
$4.99-$9.99
$9.99 + $1.25 contract ($4.99 + $1.25 contract if completed 150 trades or more a quarter)
$0
$9.99 ($4.99 if completed 150 trades or more a quarter)
Pay no annual account fees.
Buy, sell and trade ETFs, Equities, Options and more with competitive commissions.
CIBC Investor's Edge
Stocks, Bonds, Options, Mutual Funds, ETFs
$4.95 - $6.95
$4.95 - $6.95 (+$1.25 per contract)
$0 if conditions met, otherwise $100/year
$6.95
$4.95 - $6.95 is applicable for online stock, ETF and option trades only. Pay $4.95 when you qualify as an Active Trader (trade 150+ times per quarter).
An intuitive and easy-to-use platform with access to a variety of tools that help you make smart decisions and trade with confidence.
Interactive Brokers
Stocks, Bonds, Options, ETFs, Currencies, Futures
Min. $1.00, Max. 0.5% of trade value
$1.50 min. per order
$0
Min. $1.00, Max. 0.5% of trade value
Extensive trading capabilities and global investment tracking.
Access market data 24 hours a day, six days a week and invest in global stocks, options, futures, currencies, bonds and funds from one single account.
Questrade
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
$4.95-$9.95
$9.95 + $1 per contract
$0
Free
Get $50 in free trades when you fund your account with a minimum of $1,000.
Opt for self-directed investing and save on fees or get a pre-built portfolio and take some of the guesswork out.
OFFER
Qtrade Direct Investing
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$6.95 - $8.75 + $1.25 per contract
$0 if conditions met, otherwise $25/quarter
$0 - $8.75
Get up to 50 free trades. Be one of the first 100 new Qtrade clients to use the promo code 50FREETRADES and deposit a minimum of $10,000 (or top up to $15,000 to get $150 transfer fees waived). Valid until September 30, 2021.
Qtrade Direct Investing offers low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options. Trade 100 ETFs free of charge and thousands more for $8.75 or lower.
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Compare up to 4 providers

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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