One of the most traded companies on the TSX, Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) announced on Thursday that it had completed the open market sale of recent spin-off Australis Capital Inc. (CSE:AUSA) common shares on behalf of non-Canadian residents.

A total of 11,222,349 common shares in Australis Capital were disposed of in the public markets by the designated broker.

Australis Capital is a new investment vehicle that span off from Aurora Cannabis in September this year and it has a special focus on growth opportunities in the U.S. cannabis industry. The company has since moved its headquarters from Canada to Las Vegas, Nevada.

Operational efficiency is a key aspect of any successful business, and especially so in an industry such as cannabis where superior supply chains are a critical competitive advantage.

Operational efficiencies translate into higher productivity – higher revenues and margins – with your asset base.

One common ratio used to measure efficiency is the asset turnover ratio, which measures how many dollars of revenue a company generates with a single dollar of assets. Companies generating higher revenues per dollar of assets have a greater probability of also generating higher returns for shareholders. Today, we’ve weeded out three Canadian cannabis stocks with notable efficiencies as demonstrated by their asset turnover ratios.

Consolidation in the cannabis industry is expected to continue and the recent pullback in the stock prices of marijuana companies has investors wondering which pot stocks might be the best buys to play a potential takeover premium.

Let’s take a look at HEXO (TSX:HEXO) to see if it deserves to be on your buyout radar.

Kristen Yoder doesn’t want to crush your entrepreneurial dreams — but she will if she has to. Never one to offer a useless Pollyanna pat on the back, she’d rather deliver hard truths to clients right away and get to the business of viability.

Sam and Leyla Butero, residents of Yucaipa, California, can attest to that fact after hiring Yoder to advise them on a potential cannabis business they had in mind. “There are plenty of people out there who will take your money and tell you what you want to hear,” says Leyla. “What I like about Kristen is that she’ll tell you exactly what she thinks. She’ll tell you what can and cannot be done.”

Cannabis stocks have been getting some bad press lately. Between legalization problems, growing losses and increasing short positions, producers are beginning to feel the heat. Critics have claimed that weed producers are focused too much on generating PR and too little on generating income. In part, the criticisms have been justified.

Cannabis stocks had always been the subject of much hype, and the industry’s leaders played no small part in cultivating it. Now, with supply chain issues damaging the industry’s goodwill, some are saying the hype-driven bubble has burst.

But that doesn’t mean there aren’t some good cannabis picks out there.

The marijuana industry has put on a show for pot enthusiasts and investors this year. The highlight, as you can imagine, was the legalization of recreational cannabis on Oct. 17 in Canada. In a few years, after the industry has had time to expand its capacity and lay the foundation for its sales channels, $5 billion or more in added annual sales may be possible. But for as impressive as the cannabis industry has been so far, all eyes are now turning to what 2019 might hold for pot stocks. While it's impossible to tell what'll happen with any certainty, investors will likely be waiting on the edge of their seats for one beverage giant to choose a cannabis partner.

Cannabis company Newstrike Brands Ltd. has struck a deal to create co-branded edibles with specialty foods company Neal Brothers Inc., best known for its chips and salsa.

Newstrike will own 60 per cent and Neal Brothers will own 40 per cent of a joint venture that will manufacture, distribute, market and sell cannabis-infused products.

It will also acquire a minority interest in Neal Brothers and receive advisory services from Peter and Chris Neal under the conditional deal, which subject to regulatory and other approvals.

The joint venture partners will develop edible cannabis products at Newstrike's licensed operation in the Niagara community of Lincoln, Ont.

The broad pullback in the equity markets is finally giving investors a chance to pick up some industry-leading stocks at much lower prices than we saw earlier in the year. Let’s take a look at Tilray (NASDAQ:TLRY)and Royal Bank of Canada (TSX:RY)(NYSE:RY) to see if one might be an interesting buy for your portfolio.

Concerns over high valuations and cannabis supply shortages have caused pullback in Canadian cannabis stocks over the past month. The big players such as Canopy Growth Corp. (TSX:WEED), Aurora Cannabis Inc. (TSX:ACB) and Aphria Inc. (TSX:APHA) have declined -4.1%, -2.5% and -15.8%, respectively.

Buds

Cannabis stocks rebounded today, with a slew of green across Canada and US markets. 

CV Sciences Inc (OTCMKTS:CVSI) was one of the best performers, rising a blistering 27.4% to US$4.52. The Henderson, Nevada-based life-science company develops cannabidiol‐based pharmaceuticals and consumer products.