Today we’ve dug up four Canadian marijuana stocks that may have been overlooked due to their low stock prices.

Yet, these four cannabis stocks have outperformed the market by a wide margin on average, gaining 168% YTD on higher price and volume momentum.

Price and volume momentum indicate bullishness, as increased share prices on higher volumes show heightened investor interest in a stock.

Aurora Cannabis (TSX:ACB)(NYSE:ACB) has been my favourite cannabis play for quite some time now.

Not only does the name get less attention than front runner Canopy Growth with its eccentric CEO Bruce Linton, who’s seemingly always in the spotlight of the financial media, but Aurora has a number of catalysts that could propel the stock much higher than any of its peers in the space over the next year or so.

Let’s have a closer look at the three catalysts that I believe will allow Aurora to get a big boost over its pot peers in the years ahead.

Innovation is in Aurora’s veins

Is it just me or is Aurora out-innovating its peers?

Another pot shop quietly opens in Toronto with soft launch to avoid massive lines

In case you haven't been paying attention, big things are happening with the marijuana industry. Last year, more than a dozen unique milestones were made, with the biggest of all being Canada's legalization of recreational weed. In passing the Cannabis Act, Canada became the first industrialized country in the world to give the green light to adult-use consumption.

We've also seen sales estimates for the industry soar. The team of Arcview Market Research and BDS Analytics has called for 38% global growth in 2019 to $16.9 billion, with investment bank Cowen Group forecasting up to $75 billion in sales by 2030.

Two Canadian cannabis producers, Aurora Cannabis (TSX:ACB) and Aphria Inc. (TSX:APHA), have been awarded contracts by the German government to cultivate and distribute medical marijuana throughout the European country.

Both companies say the decision by Germany's Federal Institute for Drugs and Medical Devices is provisional and subject to a mandatory 10-day waiting period, which allows unsuccessful bidders to submit a challenge before the final contract is signed.

If finalized, the cannabis produced by both Aurora and Aphria will supply the German medical marijuana market, which is the largest in Europe according to a recent report by market research firm Brightfield Group.

There's no denying it: Marijuana stocks have been virtually unstoppable since the year began. Although pot stocks more or less tread water during the month of March, the Horizons Marijuana Life Sciences ETF, the very first tradable cannabis exchange-traded fund, and an ETF that currently contains about four dozen marijuana stocks of varied weightings, rose by 54% during the first quarter.

The U.S. cannabis industry has been severely restricted in its ability to access banking services because of federal prohibition. Two Canadian bank heads say they too will steer clear of the sector until new laws are passed.

It’s indicative of the limitations facing U.S. pot companies even as their market values surge and they engage in large-scale M&A like Cresco Labs Inc.’s $820 million deal last week to acquire Origin House.

HEXO (NYSEMKT: HEXO) and Green Thumb Industries(NASDAQOTH: GTBIF) rank as two of the best-performing marijuana stocks so far this year. HEXO's share price has more than doubled in 2019, while Green Thumb is up more than 90%.

Of course, like the mutual fund disclosures state, past performance isn't necessarily indicative of future results. Which of these two hot marijuana stocks is the better pick now? Here's what you need to know to choose between HEXO and Green Thumb Industries.

The case for HEXO

If you had to summarize the argument for buying HEXO stock in three words, those words would probably be "Quebec" and "Molson Coors ."

This past week, Cresco Labs announced what will be the largest acquisition of a public company operating in the American cannabis industry to date, agreeing to buy CannaRoyalty (dba Origin House) in an all-stock transaction valued at $825 million.

Cresco Labs is a multi-state operator (MSO) based out of Chicago, and the acquisition will give them a strong position in California, where Origin House operates as a distributor, manufacturer, cultivator and branding company. Investors embraced the deal, sending the stock of Cresco Labs, which began trading in December, to an all-time high as it closed 10% higher on the week.

Investors who thought they were headed for a $100 share price for Canopy Growth (TSX:WEED)(NYSE:CGC) are feeling pretty bummed out at the moment.

After rallying back to the $70 range, coming up from the depths of a $30 share price, investors hoped this was a sign of things to come.

But in the last few weeks, shares have dropped down to below $60 a share, where they’ve pretty much stayed. The problem is, is this a fair value? Some analysts believe the stock is still overvalued, and with a recession at risk, perhaps shares could go even lower.