5 Best Weed Stocks to Buy Now

4. Canopy Growth Corporation (NASDAQ: CGC)

Number of Hedge Fund Holders: 19

Canadian cannabis grower Canopy Growth Corporation (NASDAQ: CGC) ranks 4th on the list of the best weed stocks to buy now. Formerly known as Tweed Marijuana Inc., the company is a global leader in diversified cannabis and cannabinoid-based consumer products. The company’s weed offerings are dried flower, oil, soft gel capsule, infused drink, edible, and topical formats. The company’s medical cannabis brand Spectrum Therapeutics commercializes full-spectrum products in Germany and Canada. Canopy holds approximately 10.1% of Canada’s cannabis market. 

The company has a market cap of $9.7 billion. The company reported net revenue of $124 million in the third quarter of 2021. Shares of CGC increased 65% over the past twelve months.

At the end of the fourth quarter of 2020, 19 hedge funds in the database of Insider Monkey held stakes of Canopy Growth Corporation (NASDAQ: CGC), up from 9 in the previous quarter. The total value of these stakes at the end of Q4 is $133 million. 

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