So far, the United States and Canada are among the few pot stock exchanges in the world. Unlike the United States, Canada legalized medical marijuana nationwide as early as 2001. This means that the industry is growing rapidly and is not plagued by restrictions in the United States and other states.
As of April 2019, 33 states (and Washington, DC) have allowed legal medical use of marijuana. In November 2017, the Canadian House of Commons passed the Cannabis Act. The Cannabis Act allowed marijuana to be used for entertainment purposes and was approved by the state in June 2018. This is in contrast to the United States, where the near-term prospects of legal weed have been questioned. This came after the former Attorney General Jeff Sessions overturned a law in the Obama era to protect states that chose free marijuana law.
The Canadian Pot Stock at the Top of the List
Aurora Cannabis Inc. (ACB Stock Report) made its debut at the Canadian Venture Stock Exchange (TSX) in October 2016. In addition to the production of dried cannabis, Aurora also received a license to sell cannabis oil in January 2017. The market has a return rate of 347% in one year. In May 2018, Aurora Cannabis acquired MedReleaf Corp. for $2.5 billion. As of June 7, 2018, MedReleaf had a market capitalization of $2.92 billion, and its stock has increased by 292% in the past year. 
The American Pot Stock Catch up from Behind
Cresco Labs Inc (CRLBF Stock Report) is vertically-integrated cannabis and medical marijuana company based in Chicago, Illinois. Cresco Labs has retail operations in seven states where marijuana has been legalized for medical use.
On the surface, this pot stock does not appear to be very competitive, with only “56” retail licenses and entry into 11 states in preparation. In contrast, there are more than a handful of marijuana stocks and more retail licenses are available.
However, Cresco’s acquisition of Origin House should change its current status. Because Origin House has one of a handful of cannabis distribution licenses in California, Cresco can sell its brand of canned products in more than 500 California pharmacies. Once the transaction is completed, it will also allow Cresco’s pharmacy business to cover more than 700 countries nationwide. And, as pointed out, California is the most profitable market for pot stocks.
Although Cresco Labs is preceded by Curaleaf. The company is one of the few publicly traded pot stocks that are likely to have higher annual sales than other Canadian pot stocks.
