10 Best Tobacco and Cigarette Stocks to Invest In

7. Canopy Growth Corp. (NASDAQ:CGC)

Canopy Growth Corp. (NASDAQ:CGC) is one of the 10 best tobacco and cigarette stocks to invest in.

With the cannabis market attracting significant investor interest, Canopy Growth Corp. (NASDAQ:CGC) could be an attractive opportunity. On March 31, the company introduced Deelish, which is a cannabis line catering to the value segment. The CEO, Luc Mongeau, described the value category as one of the most active categories in the Canadian cannabis industry. Mongeau believes that people are aware of what they need, and this product caters to their needs by offering a very potent marijuana product at a value price level consistent with their purchases.

What also makes Canopy Growth Corp. (NASDAQ:CGC) a highly captivating cannabis player is its inorganic growth strategy. Back on March 16, it reported the successful acquisition of all outstanding shares of MTL Cannabis Corp. (CSE: MTLC). This strategic acquisition is primarily motivated by the goal of forming Canada’s leading medical cannabis platform, while boosting the supply of premium flower into regulated international markets such as Europe.

At the same time, management believes that acquiring a highly profitable entity will enable the company to meet its strategic goal of generating positive adjusted EBITDA for the entire fiscal year of 2027. Additionally, this acquisition also enhances the overall capabilities of the business. Luc Mongeau stressed that this marked another step towards profitability and better operations.

Canopy Growth Corp. (NASDAQ:CGC) manufactures and distributes cannabis, hemp, and items associated with cannabis. The company sells a number of products, which include dried flower and pre-rolled joints, extracts and concentrates, and cannabis edibles. It sells its products under different brands like Storz & Bickel, Tweed, 7ACRES, and more.