Remember when ASX cannabis shares were smoking hot? Where are they now? – The Motley Fool Australia

ASX 200
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
Newly legalised recreational and medicinal marijuana markets aren’t getting the media hype they once did.
Image source: Getty Images
You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More
ASX cannabis shares aren’t garnering the financial media attention they once did, but some of the top companies continue to deliver outsized gains.
It wasn’t too long ago when all a company needed to do to garner investor interest was mention they were involved in medicinal or recreational cannabis research or production. That was often enough to see speculators pile in, drawn by the promise of new legal markets opening up across the world.
More recently ASX cannabis shares have been shunted out of the spotlight amid soaring commodity and energy prices.
Below we look at five of the top ASX companies operating in the legal marijuana sector. Three are posting strong gains over the past 12 months while two are deep in the red.
For some context, the All Ordinaries Index (ASX: XAO) is up 1.6% since this time last year.
First, the two ASX cannabis shares that have been slipping.
Creso Pharma Ltd (ASX: CPH) develops pharmaceutical-grade cannabis and hemp-based nutraceutical products for human and animal treatments.
Shares in the ASX cannabis company closed as high as $1.01 back in November 2017, in the months leading up to Canada’s decision to legalise recreational use.
Since then, Creso has struggled. Over the past year, shares are down 55.8%, currently trading for 5.3 cents.
Another ASX cannabis share that’s lost ground this year is Cann Group Ltd (ASX: CAN).
The company cultivates cannabis for both medicinal and research purposes.
Cann traded at $4.01 per share back in January 2018. As with Creso, this was also during the time that the global media were throwing the spotlight on Canada’s pending marijuana legalisation amid similar moves underway by numerous US states.
The Cann Group share price is down 23.3% over the past 12 months, currently trading for 33 cents.
Which brings us to the ASX cannabis share gainers…
Among the big gainers this past year is Emyria Ltd (ASX: EMD).The clin ical-stage biotech company is strongly focused on cannabinoid medicines.
Emyria is a relative newcomer to the ASX, having listed on 12 February 2020. Shares traded at all-time highs of 44 cents in November last year.
The Emyria share price currently stands at 29 cents, up 26% in 12 months.
Up next, we have Incannex Healthcare Ltd (ASX: IHL).
The cannabinoid and psychedelic compound medicine development company hit five-year highs in early March this year, trading for 68 cents per share.
Since then, shares have retraced to the current 46 cents. Still, that’s up an impressive 84% since this time last year.
And rounding off our list, the ASX cannabis share with the biggest gain is Cronos Australia Ltd (ASX: CAU).
Operating in the healthcare industry, the company offers both THC and CBD products.
Cronos shares hit record-highs of 38 cents in February this year. The Cronos share price currently stands at 28 cents, up a whopping 129.2% over the past 12 months.
That’s one ASX cannabis share that’s still smoking hot.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
August 9, 2022 | Zach Bristow
The stock has caught a bid on Tuesday.
Read more »
August 2, 2022 | Zach Bristow
Downside continues over the past month for the cannabis stock.
Read more »
July 14, 2022 | Brooke Cooper
The stock has gained a whopping 111% so far this week.
Read more »
July 13, 2022 | Bronwyn Allen
This nano-cap ASX cannabis share has caught the attention of investors this week.
Read more »
July 12, 2022 | Zach Bristow
Are cannabis stocks set to rise along with the broader industry in the new financial year?
Read more »
July 9, 2022 | Zach Bristow
Here’s a look at the sector’s performance in the financial year just gone.
Read more »
July 7, 2022 | Aaron Teboneras
Little Green Pharma shares are smoking the market today.
Read more »
June 30, 2022 | Aaron Teboneras
Cann shares are in the green on Thursday.
Read more »
View All
In this FREE STOCK REPORT, Scott Phillips, and his team at Motley Fool’s Share Advisor have released a special free report, detailing 5 ASX stocks that they think could be fantastic stocks to own as investors prepare for their retirement.
Sign Up for Take Stock
Investment news, stock ideas, and more, straight to your inbox.
Get Started Investing
You can do it. Learn about investing with our Investing Education hub.
Win at Retirement
Our latest articles and strategies for the post-work life you want.
Listen to Our Podcast
Hear our experts take on shares, the market & how to invest.
Join Our Premium Community
Join our flagship membership service, Share Advisor.
To make the world Smarter, Happier, And Richer
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show and premium investing services. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians.
Read more about us >

This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. The Motley Fool Australia operates under AFSL 400691. For more information please see our Financial Services Guide. Please remember that investments can go up and down. Past performance is not necessarily indicative of future returns. The Motley Fool Australia does not guarantee the performance of, or returns on any investment.
© 2010 – 2021 The Motley Fool Australia Pty Ltd. All rights reserved.
ACN: 146 988 052
Australian Financial Services Licence (AFSL): 400691
The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217
Contact Details:
Phone: (03) 8592 4841
Email: [email protected]
Our friendly customer service team will happily get back to you as soon as they can.



Buy Weed In Australia

Articles: 148

Leave a Reply

Your email address will not be published.