On Monday, October 22, 2018, Canadian cannabis stocks saw a significant price pullback during a market correction best shown by the Horizons Marijuana ETF (TSX:HMMJ), which declined 11.5% , hitting its lowest point since late August. The correction does not appear to be news driven and instead was caused by investors viewing the stocks as overvalued and fearing that current bottlenecks in sales could impede next year’s high revenue estimates. Today, we have identified four Canadian marijuana stocks that were hit the hardest on Monday but trade at forward EV/Sales multiples below the peer average of 14.6x (2019) and 5.0x (2020).

A new, state-of-the-art cannabis cultivation and extraction facility has opened in Halifax. GrowForce, a Canadian-based company that operates a complete seed-to-sale cannabis platform under Health Canada’s Cannabis Act, and Halifax-based AtlantiCann Medical Inc. (AMI), a licensed producer and member of the BANC group of companies, announced the opening of their newly built, 48,000 sq ft facility at the official ribbon cutting ceremony.

 Eve & Co Inc. (TSXV:EVE), through its wholly-owned subsidiary Natural Medco Ltd., is a Licensed Producer and seller of dried cannabis and cannabis plants under the Access to Cannabis for Medical Purposes Regulations. Natural Medco is Canada’s first female-founded Licensed Producer and received its cultivation license from Health Canada in 2016 followed by its sales license in June 2018. Eve & Co commenced trading on TSX Venture Exchange on July 4, 2018.

Altria Group Inc. is scheduled to report third-quarter earnings on Thursday, and investors are hoping the company will have news on its plans for the cannabis market.

The tobacco giant MO, -1.03% has eschewed cannabis in the past because it remains an illegal substance at the federal level, even though 31 U.S. states and the District of Columbia have laws that allow medical marijuana and 10 states allow it for recreational use. Under federal law, it remains a Schedule 1 drug, putting it on par with heroin and cocaine.

On Wednesday, Oct. 17, Canada became the first industrialized nation to officially legalize recreational marijuana.

Our neighbor to the north was only behind Uruguay, the first country ever to make the same move.

I had that date circled on my calendar for months, and now that it has finally passed, it is time to build a solid portfolio of cannabis-related stocks to take advantage of the potential over the long term.

The marijuana market in Canada will be big, and I expect it to continue to grow significantly in the next 10 years. Today, I want to tell you about five marijuana stocks that will put us in the best position to benefit.

Shares of major Canadian-listed cannabis companies are extending their broad declines Monday as investors pull out of the volatile sector just a few days after recreational use was legalized in Canada.

Legalization has not been kind to some of the country’s biggest names such as Canopy Growth Corp., Aurora Cannabis Inc. and Tilray Inc. which have seen their respective stocks suffer double-digit declines since Oct. 17 when adult-use of marijuana in Canada was permitted as Bill C-45 came into force.

Passing a joint is becoming increasingly passé. Pax Labs Inc., a San Francisco-based startup that makes marijuana vaporizers, raised US$20 million from investors, Chief Executive Officer Bharat Vasan said on Monday. The company declined to provide the valuation.

Pax, part of a rising tide of marijuana device companies, makes internet-connected vaporizers that allow users to control how high they get when consuming the drug. The company’s sleek devices look like highlighter pens or USB sticks, and are operated through an app. Vapers can tinker with the app’s settings to puff a thicker plume of smoke, or lower the device’s LED light to be more discreet when inhaling in public.

That’s because Hummingbird, which was launched in 2011 by Erica and Drew Gilmour, recently partnered with Canopy Growth Corp., the Smiths Falls-based, publicly traded marijuana company, to press ahead with creating a THC-laced chocolate product that could arguably appeal to gourmets who fancy a tasty buzz.

There is, of course, one big proviso. Production of such a product could only begin “if and when it becomes legal to do so,” Erica Gilmour says.

While recreational cannabis became legal in Canada this week, the legalization of edible pot products, which are hugely popular in other markets, has been put off because regulating them is especially complex.

The Coca-Cola Company said recently it is “closely watching” the expanding use of a cannabis element in drinks, another sign cannabis and cannabis-infused products are getting more acceptance in mainstream culture and a harder look from long-established pillars of American business.

The statement came after reports the beverage giant was in talks with a Canadian cannabis company to create a health drink infused with cannabidiol, a naturally occurring non-psychoactive compound derived from the cannabis plant.

Cannabidiol, or CBD, does not produce the high commonly associated with marijuana. It is believed by many to have anti-inflammation and pain-relieving properties. As a result, numerous CBD-infused products have emerged.

They say that a rising tide lifts all boats. But some boats have a more enjoyable ride.

Widespread interest in the cannabis industry has propelled many Canadian marijuana stocks higher in 2018. Cronos Group(NASDAQ:CRON) ranks as one of those stocks. But a smaller cannabis producer, Supreme Cannabis(NASDAQOTH:SPRWF), is still down year to date despite a nice run over the last couple of months.

Which of these two marijuana stocks is the better pick now? Here's how Cronos Group and Supreme Cannabis stack up against each other.