Click here to read the latest top Canadian cannabis stocks list.

Like most industries, the cannabis space has been impacted by COVID-19, which has been sweeping across the globe in earnest for the last couple of months. 

The struggling cannabis market has faced unique headwinds due to the virus, including questions about whether marijuana is essential and if companies will be able to access federal stimulus funds. However, it also appears to be benefiting from stockpiling behavior from buyers under lockdown.

Against that difficult backdrop, some Canadian cannabis stocks have still managed to rise this year. The list below shows the marijuana companies listed on the TSXV and CSE that are up the most year-to-date.

All data was gathered on April 27, 2020, using TradingView’s stock screener, and the companies included had market caps above C$10 million at that time. TSX-listed cannabis firms were also considered, but none had risen enough to make the list.

1. Chemesis International (CSE:CSI)

Current share price: C$0.83; year-to-date gain: 85.19 percent

Chemesis International is a vertically integrated multi-state operator that also works in Puerto Rico and Colombia. Among other business segments, it has 10 dispensaries in California, Puerto Rico, Texas and Tennessee, with five more on the way, and cultivation facilities in Puerto Rico and Colombia.

The company reached its share price peak for this year on January 15, when it hit C$1.32. The news came a couple of days after Chemesis announced a favorable judgment from a Puerto Rican court regarding cannabis licenses held by its subsidiary, Natural Ventures PR.

The ruling was appealed by the Puerto Rico Department of Health, but the subsidiary’s cannabis cultivation and cannabis manufacturing licenses were reinstated in early February. Chemesis saw more positive share price action a few days after that, reaching C$1.06 on February 7.

2. Indiva (TSXV:NDVA)

Current share price: C$0.40; year-to-date gain: 63.27 percent

Canadian licensed producer Indiva produces cannabis and cannabis products, and provides production and manufacturing services. Its product list includes flower, edibles, oils and accessories, and the company has several brands under its umbrella.

Indiva’s share price spiked in mid-February when it reached C$0.44, but it has also been on the rise in April — as of the end of the month it was around that level again. Most recently, investors appear to have reacted positively to news of Indiva’s first shipment of cannabis-infused products to BC, and to the release of its preliminary financial and operating results for Q1.

The company said that net sales for the period are expected to come in at $2 million to $2.2 million, up from $0.3 million in the previous period — it has attributed the increase to the receipt of its edibles sales license. According to Indiva, its Bhang milk and dark chocolate, part of its Cannabis 2.0 rollout, are the top two sellers at the Ontario Cannabis Store

3. IM Cannabis (CSE:IMCC)

Current share price: C$0.49; year-to-date gain: 41.18 percent

IM Cannabis bills itself as an international medical cannabis company, and a well-known Israeli brand of medical cannabis products. Israel is its core market, but it also has fully integrated European operations.

The highest point so far this year for IM Cannabis’ share price came on January 22, when it hit C$0.51. About a week after that, it announced the continued expansion of its European presence with the signing of definitive agreements to establish a medical cannabis cultivation and processing joint venture in Greece. IM Cannabis said it would own 25 percent of the joint venture.

Like Indiva, IM Cannabis is nearly at that level again now after a dip. Its latest news came on April 21, when it announced a three year sales agreement between Focus Medical Herbs and Israel’s PharmYarok. The deal for 12,600 kilograms of IM Cannabis-branded medical cannabis is expected to bring IM Cannabis about $71.6 million in consolidated revenue starting in 2021.

4. SpeakEasy Cannabis Club (CSE:EASY)

Current share price: C$0.45; year-to-date gain: 40.63 percent

SpeakEasy Cannabis Club, another Canadian licensed producer, owns 290 acres of land in Rock Creek, BC. It grows small-batch, high-quality craft cannabis in a 10,000 square foot indoor facility and this spring it plans to start outdoor cultivation at a 60 acre field.

The company’s share price was at its highest level so far this year on April 6, when it hit C$0.53. That day, SpeakEasy received an amendment to its license from Health Canada for its outdoor field. The amendment allowed it to expand its licensed cultivation area from 10,000 square feet to more than 2.6 million square feet — that is an increase of over 250 times.

5. Body and Mind (CSE:BAMM)

Current share price: C$0.67; year-to-date gain: 23.64 percent

Multi-state operator Body and Mind has operations in Nevada, California, Arkansas and Ohio, and is engaged in medical and recreational cannabis cultivation, production and retail. Its products include dried flower, edibles, oils and extracts, as well as GPEN Gio cartridges.

The company’s share price is currently at its peak this year of C$0.67 after rising throughout April. Its latest release came on April 23, when it shared an update on measures it has put in place to address COVID-19. It also opened a new medical and recreational dispensary in San Diego in April.


Want more details? Check out these articles for more INNdepth coverage:

Want an overview of investing in cannabis stocks? Check out Investing in the Cannabis Industry

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Chemesis International is a client of the Investing News Network. This article is not paid-for content.

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