Cannabis Companies Dominate Best Performing TSX Stocks List

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Four cannabis companies are ranked among the 10 best performing stocks on the Toronto Stock Exchange over the past three years.

The exchange has announced the inaugural TSX30, which celebrates the best performing stocks based on dividend-adjusted share price appreciation. Canopy Growth Corp. leads the way after enjoying 1823% growth during that timeframe, leaving it ahead of Shopify.

The next pot stock in the list is third-placed Village Farms International , co-owner of the Pure Sunfarms facility in British Columbia. Its capacity recently reached 75,000 kg on an annualized basis, and that is set to double to 150,00 kg by 2021.

Pure Sunfarms is a 50/50 JV between Village Farms and Emerald Health Therapeutics Inc. . Earlier this year Village Farms was subject to a Citron Research short, which saw its share price decrease sharply.

It quickly rallied and resumed its upward march, although it has decreased by around 25% over the past 16 days.

“Although this award recognizes outstanding recent performance, Village Farms is only just beginning to realize the value of these significant new growth opportunities, which have transformed both our near and long-term earnings potential, and which we expect will drive growth for years to come,” said founder and chief executive Michael DeGiglio.

The firm is ramping up medical cannabis sales in Canada, and aggressively pursuing the opportunity in hemp-based CBD in the U.S. It has increased 868% since 2016.

Aphria is sixth in the list of the best performing TSX stocks over the past three years, nestled in between Trilogy Metals and Air Canada, having increased 479%.

Quebec-based Neptune Wellness Solutions Inc. , which specializes in the extraction, purification, and formulation of cannabis products, was eighth in the chart, ahead of Ivanhoe Mines and North American Construction Group.

Loui Anastasopoulos, president of capital formation at TMX Group, said cannabis is a newly defined sector full of compelling success stories.

Representatives of the leading companies joined TMX executives to open the market this morning.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Martin Green
Martin Green is an experienced journalist with a strong focus on the cannabis, alcohol, and gambling industries. He is particularly interested in the political issues affecting the global marijuana trade, and he has a keen focus on regulation changes and legal topics. He holds a BA English Literature, MA Creative Writing and a National Qualification in Journalism diploma. He has worked in journalism since 2009 and written for a broad range of newspapers, business titles and magazines, including The Sun, The Metro, The Journal, Livestrong, Drinks Retailing News, Harpers, Sportsbook Review, Vital Football, Essex Live and Surrey Live. Address: 682 Indian Road, Toronto, Ontario, M6P 2C9. Phone: 416-721-8257.

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