Cannabis stocks dipped on Monday ahead much-anticipated earnings results from Cronos Group and the cancellation of a vote on a bill legalizing marijuana in New Jersey.  The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was down 0.34% to US$298.62 on Monday afternoon.  The Horizons Marijuana Life Sciences Index ETF was down 0.53% at C$22.48.

Buds

Cronos Group Inc (NASDAQ:CRON) (TSE:CRON) stock jumped on Monday, ahead of its earnings results, set to be released on Tuesday. 

Despite having a share price of just $0.23 in 2015, OrganiGram Holdings Inc(TSXV:OGI) stock has quickly risen to a market cap of more than $1.3 billion. Since the start of 2019, shares are up another 62%.

Now with a valuation that rivals other notable pot stocks like Green Organic Dutchman Holdings Ltd (TSX:TGOD) and Hexo Corp  (TSX:HEXO), why do shares seem to consistently move higher by large jumps every month? Is the latest 62% rise due to improving fundamentals or pure hype?

It can be really hard to find stocks that are undervalued during a time when stocks are finally starting to steer in the upward direction again.

Investors tend to lean towards exciting stocks to take advantage of this upward movement, like cannabis or even oil and gas. But I want to take you in another, less expensive direction.

There are two types of production that are increasingly growing in demand: methanol and uranium. Those producing these products are only in the beginning of a prosperous future, so investors should be looking to take advantage of this opportunity to buy before share prices soar.

Cannabis and Crypto Laws Tremendously Varied Around the Globe

Will the fortunes of Aurora Cannabis (TSX:ACB)(NYSE:ACB) rise with activist investor Nelson Peltz joining the cannabis producer? It’s still early to tell whether the hiring will bring positive vibes, although Aurora is up 3.03% from last week’s closing.

Investors were shell shocked by the unified drop of cannabis stock prices in December. Many didn’t expect the share price of Aurora to sink below $7. It’s not a cryptocurrency but an industry leader in the promising cannabis space. Still, hopes remain high that Aurora will make amends in 2019.

The legal marijuana industry has come an exceptionally long way in a very short period. As recently as 2005, recreational cannabis was illegal everywhere, just a small handful of U.S. states were allowing medical marijuana to be prescribed by a physician, and a Gallup survey found that just one out of three Americans supported legalizing weed at the national level.

There's a pretty good chance that 10 years from now Aurora Cannabis (NYSE:ACB) and/or Constellation Brands (NYSE:STZ) will be worth a lot more, thanks to growth in the global cannabis market.

Aurora is already a top marijuana stock. Alcoholic beverage maker Constellation is sort of a marijuana stock as well by virtue of its 35% stake in Canopy Growth (NYSE:CGC).

Both Aurora and Constellation turned in dismal performances in 2018. So far this year, though, Aurora is on fire with its share price nearly doubling, while Constellation has eked out a small gain.

Aphria (NYSE:APHA) is on a roll. After a horrible performance in 2018, the Canadian marijuana stock is up nearly 80% so far this year. 

With Aphria's tremendous momentum, it only makes sense that some investors who might have been leery of the stock in the past are taking a closer look. If you're looking to potentially buy shares of Aphria, here are five things you should know first.

Some marijuana stocks receive a lot of attention from investors. They tend to be the stocks of companies focusing on the Canadian marijuana market with ginormous market caps relative to their sales.

But there are some smaller stocks of companies that focus primarily on the U.S. market that also merit investors' attention. Three great marijuana stocks that you might be overlooking are Innovative Industrial Properties (NYSE:IIPR), KushCo Holdings (NASDAQOTH:KSHB), and Origin House(NASDAQOTH:ORHOF). Here's what makes these stocks stand out.

The Manitoba government is opening up the retail cannabis market in seven rural communities.

The province will license non-medicinal cannabis stores in Flin Flon, Niverville, Swan River, Virden, Altona, Lac du Bonnet and the rural municipality of Russell Binscarth, CBC News has learned.

The retailers will be chosen randomly from a list of nearly 100 pre-qualified applicants who responded to the province's second call for pot shop proposals last summer. The expansion aims to bring recreational cannabis sales to areas underserved by the initial distribution rollout, following the legalization of marijuana last October.