Investors have forecasted that the Canadian cannabis market is going to see major gains in 2018 as more countries push for legalization. Aside from a few drops in January, it appears investors were correct. To top it off, it’s not just investors in North America that seem to be excited about Canadian cannabis stocks either. In fact, investors in countries such as Sweden appear to be engulfed in the latest fad.
The Latest in the Canadian Cannabis Market
Sweden has become increasingly more interested in Canadian cannabis stocks, according to Joakim Bornold, a savings adviser at Nordnet AB online broker bank. Bornold also disclosed that for the month of January, there were two Canadian cannabis companies that made it onto the Nordnet top 10 most traded shares. These two companies include Canopy Growth Corporation (TSE:WEED) (OTCMKTS:TWMJF) and Aurora Cannabis Inc. (TSE:ACB) (OTCMKTS:ACBFF).
So, how are these two companies doing now that we have moved into the month of February? Will the optimism of Swedish investors allow these two TSE stocks to continue to climb? Let’s take a look at today’s market results to get a better idea.
- Canopy Growth Corporation
According to Bornold, it is very likely that Swedish investors will continue to express an interest in the Canadian cannabis market. Considering Canopy Growth Corporation is trading higher today, it appears the Swedish savings adviser is onto something. Currently, the Smith Falls-based company is trading at $26.99, putting the WEED stock up $2.78, or 11.48%.
Read More About Canopy Growth >>
- Aurora Cannabis Inc.
Based in Vancouver, British Columbia, Aurora Cannabis seems to still be reaping the benefits of more and more countries becoming interested in its stock. Or, perhaps it is because the Canadian company just announced that it purchased a stake in Liquor Stores N.A. Ltd.
Either way, Aurora Cannabis is starting the month of February off with a bang. The company is currently trading at $0.36, which puts the stock up $1.11, or 12.00%.
Read More About Aurora Cannabis >>
The Takeaway
It will be interesting to see whether or not these two stocks will continue to climb throughout the month. Additionally, it will be worth keeping an eye on Swedish investors to see if they decide to start heavily investing in other Canadian cannabis stocks, such as Global Hemp (CNSX:GHG) (OTCMKTS:GBHPF) or Golden Leaf Holdings (CNSX:GLH) (OTCMKTS:GLDFF).
Featured Image: Depositphotos/© Ruletkka
