Canadian marijuana stocks have rebounded off the lows they hit in recent months, and that has investors wondering which pot stocks might be the best buys in 2019.

Let’s take a look at HEXO (TSX:HEXO) to see if one deserves to be in your portfolio right now.

Canopy Growth to spend up to US$150M to grow hemp in New York

Pot stocks marked their third consecutive week of gains last week, the longest such winning streak since August, riding high on the broader market’s upbeat mood. This week, we’ll get a better idea of just how big the global cannabis market could get, along with a host of other potential catalysts.

Not even an earnings miss and further drama from Aphria Inc. could derail the optimism last week.

The company announced Friday that Chief Executive Officer Vic Neufeld will step down in the coming months but will remain on the board following a short-seller report that alleged Aphria bought assets at inflated prices from insiders. Aphria has now recouped much of its loss from the Dec. 3 report, including a 5.4 per cent gain on Friday.

Aurora Cannabis Inc. — the third largest Canadian cannabis company by market value — has signed a $175 million all-stock deal to buy up mid-sized licensed producer Whistler Medical Marijuana Corp., a privately held cannabis grower in B.C.

Aurora is pegging the purchase as a product and brand play — the company is particularly interested in the full suite of Whistler’s organic cannabis products and the brand recognition it has built up as one of the country’s first licensed producers to sell to the medical market.

A Southwestern Ontario marijuana grower and a fast-food chain have teamed up to open dispensary franchises across Canada, a deal marking the second partnership between a Canadian cannabis company and a restaurant operator.

WeedMD, a licensed pot producer with operations in Strathroy and Aylmer, and Pita Pit Canada, a franchise with more than 600 locations across the globe, have launched Pioneer Cannabis Corp.

“This is a very capital-efficient partnership whereby we leverage our individual expertise into the cannabis space,” WeedMD chief executive Keith Merker said Monday.

As the cannabis industry rapidly grows, employers in the sector are feeling overwhelmed with the sheer volume of employees they need to recruit.

A network for human resources professionals in the cannabis industry, called Cannabis at Work, was launched on Friday to meet the need. It aims to provide a forum for employers in the regulated cannabis industry to learn and build relationships.

Cannabis stocks have been very volatile in 2018. Once the best-performing stocks in the market, marijuana stocks have cooled significantly since the legalization of recreational cannabis in Canada on October 17.

At that time, pot stocks were trading near all-time highs. The cannabis bubble has burst since then, and most stock prices have dropped by a fair amount. While risky, the three pot stocks I present could perform well in 2019 following major partnerships they have formed recently.

HEXO (TSX:HEXO)

Hexo focuses on recreational marijuana use and is the only licensed medical marijuana producer headquartered in Quebec.

The overwhelming success of individuals who won a chance at opening one of Ontario’s first cannabis dispensaries could mean that few of these aspiring retailers will be able to open by the April deadline, say marijuana industry insiders.

The Alcohol and Gaming Commission of Ontario (AGCO), the province’s pot regulator, on Friday provided a breakdown of the individuals and companies who applied to a lottery for a chance to get a cannabis retail licence.

Nearly two-thirds of the applicants were sole proprietorships – essentially individual entrepreneurs – while the remaining submissions came from corporations and partnerships.

Aurora Cannabis (NYSE:ACB) and Scotts Miracle-Gro (NYSE:SMG) shareholders are probably glad that 2018 is behind them. Aurora's share price fell 35% last year -- although the steep drop stemmed entirely from dilution caused by issuing new shares -- while Scotts Miracle-Gro stock plunged nearly 43%.

It's a new year now, and both stocks have gotten off to a good start. 2019 should be a better year for both Aurora Cannabis and Scotts Miracle-Gro for several reasons. But which is the better pick for long-term investors?

Most Canadian marijuana stocks fizzled last year. CannTrust Holdings (NASDAQOTH:CNTTF) was in that group, with its stock falling 34%. A handful of Canadian marijuana stocks, though, turned in solid performances in 2018. OrganiGram Holdings (NASDAQOTH:OGRMF) was one of them, jumping more than 10%.

But 2018 is now history. Which of these stocks is the better choice for investors looking to the future? Here's how OrganiGram and CannTrust stack up against each other.