MedReleaf: 1,245% aggregate sales growth
Another Canadian pot stock with incredible sales growth is MedReleaf (NASDAQOTH:MEDFF), which went public earlier this year. In just two years, sales have grown from a little more than $2.3 million to $31.4 million as of 2017.
Like Aphria, MedReleaf has primarily focused on organic expansion opportunities. Whereas many of its peers have been diluting their shareholders with one bought-deal offering or convertible debt offering after another, MedReleaf has leaned on the bounty from its initial public offering to expand growing capacity at its Bradford facility.
What makes MedReleaf unique is the company's focus on considerably higher margin dried cannabis and cannabis products. MedReleaf offers pricier cannabis strains that cater to a more affluent clientele, as well as focuses its efforts on controlling a large portion of Canada's cannabis oils market. Oils are a higher-price-point, higher-margin item. In other words, MedReleaf can make more money while generating the same amount of revenue as its peers.
The company was also healthfully profitable in 2016 and 2017, and compared to other pot stocks may be the most undervalued of them all. If Canada moves forward with recreational legalization, MedReleaf could be in line to garner about 10% market share.
If you're looking for potential success story in the marijuana industry, these are three to consider.
