This Industry Leader is Poised for Even More Huge Profits
Slowly but surely, the Great white North is staging its own COVID comeback. There’s one stock that needs to be on your radar to take advantage.
With nearly half of the population now fully vaccinated here in the U.S., the restrictions that were put in place by the pandemic have mostly been lifted.
And that’s led to some fantastic surges in stocks that have been waiting for life to get back to normal.
With casinos beginning to reopen in recent months, the Roundhill Sports Betting & iGaming ETF (BETZ) has risen more than 27% since the start of the year.
The U.S. Global Jets ETF (JETS) – which tracks the performance of some of the largest airliners in the country – traded nearly 30% higher this month from the lows it hit in late January.
And there are plenty more examples.
But it’s not just here where COVID-19 restrictions are lifting. And there’s a ton of money to be made in certain industries.
One type of business that our neighbor to the north specializes in could be getting the green light very soon.
Where’s the money?
Much like the U.S., Canada has been hard at work getting its population vaccinated against the coronavirus.
Those efforts have been incredibly successful, with more than 65% of the population having received at least one vaccine dose. As those numbers continue to improve, the country is beginning to lift its own COVID-19 restrictions.
In Ontario – Canada’s largest and most populous province – officials have announced that the first step in reopening will take place on June 11.
On that date, residents will once again be allowed to have small social gatherings, attend religious services, and visit non-essential retail stores.
And it’s that last provision in which I’m seeing a great investment opportunity.
Canadian cannabis retailers that have suffered under the continued lockdowns, and profitability is rare these days in an industry that experienced a massive expansion before the pandemic.
But as shops in Ontario and other provinces begin to reopen at limited capacity, we could see the tide start to turn for an industry with massive potential.
And there’s one company in particular that I’ve got my eye on…
How do I get some?
Ever since the massive spike that Tilray, Inc. (TLRY) experienced in February, shares have been relatively flat since April as restrictions remained in place in Canada.
Despite that, Tilray has already had the best performance of just about any pot stock so far in 2021 after it closed a huge merger deal with fellow cannabis producer Aphria Inc.
At present, Tilray is up almost 100% from where it began the year, and that impressive figure could be just the start as the cannabis market starts to heat up again.
The merger with Aphria makes Tilray the top dog in the Canadian cannabis market in my opinion, and as sales begin to improve, we may see the stock soar another 25% or more in the coming year.
And with efforts to decriminalize – and potentially even legalize – cannabis in the U.S. picking up steam, the time is now to jump back into cannabis stocks. And Tilray is by far my favorite name in the space.
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In the Spotlight: A big investment in EV
The electric vehicle industry has a ton of potential just waiting to explode. And as more companies throw their hat into the ring, the profits we could see from EV stocks gets larger and larger.
And one company is making some big commitments to the future of EV.
General Motors Company (GM) announced this week that it will be making a $25 million investment to make electric vehicles more accessible to the communities that are most impacted by climate change.
The philanthropic effort to fund grassroots organizations and improve green energy is an extension of GM’s $35 billion investment in EV and its commitment to become carbon neutral by 2040.
Several prominent companies like GM, Tesla, and more have stepped up recently with plans to not only improve their electric vehicle offerings, but also to improve the infrastructure of EV to allow charging in more locations.
The boom in electric vehicles is getting closer every day, and I will continue to bring you the latest news and my favorite picks for profitable investments going forward. Keep an eye out for more from Profit Pregame.