September was an exciting month for the cannabis industry, as companies scrambled to grab a slice of the potential $4.3B legal market that is poised to open up in Canada on October 17, 2018. Interestingly, the big players in the industry, namely Canopy Growth Corporation (TSX:WEED), did not perform as well as some of the smaller cannabis companies in the month of September.

Cannabis-infused drinks have been seen as a potential growth area for soda and spirits companies that have had trouble boosting sales.

PepsiCo on Tuesday joined the growing list of big companies to confirm potential interest in making drinks with cannabis.

Hugh Johnston, chief financial officer of the soda and snacks giant, acknowledged the company's interest in an interview with CNBC. "We will look at it very critically," Johnston said of cannabis on an interview with CNBC. "But I am not prepared to share any plans that we may have in the space right now."

CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing the licensing agreement that 48North Cannabis Corp (TSX-V:NRTH) has entered with Mother & Clone Inc.

CannTrust Holdings Inc. ("CannTrust" or the "Company",TSX: TRST), one of Canada's leading licensed producers and trusted brands of medical cannabis, today announced the appointment of Peter Aceto as Chief Executive Officer of CannTrust, effective immediately. Eric Paul, CannTrust's Co-Founder and leader, has stepped down from his role as Chief Executive Officer, and has been named Chairman of the Board and Special Advisor to CannTrust's management team. Mark Litwin is assuming the role of Vice Chairman.

Mark this date down: October 17th.

That’s the day that Canada fully legalizes recreational cannabis.

And that’s also the date that the best kept story in the cannabis sector could be revealed.

A team that has already built two cannabis companies to a $340 million and $5 billion valuation.

But now, they are involved with something that could become much bigger... Scythian Biosciences (CSE:SCYB, OTCMKTS:SCCYF)

So, what’s going on?

First, Scythian has just closed an incredible $260 million deal with Aphria, the third-largest cannabis company in the world.

It’s now the first day of October, and Canadian cannabis penny stocks are moving in the green on the TSXV. Canadian cannabis companies have made a monumental rise in the markets this year after parliament passed Bill C-45 mid-June 2018.

Adult-use recreational marijuana use will become legal across Canada on October 17th. Cannabis companies are scrambling to keep up with demand. With so many new companies transitioning to the industry, it’s hard to keep up with the companies that stand out from the rest. Let’s take a closer look at a few cannabis penny stocks that are trading in the green today.

Recent $300 million deal by Canadian Cannabis Company Aphria, Inc. signals strategy to leverage generations of regional expertise to produce superior products.  

Latin America has emerged as a hotbed for cannabis investors and companies. Peru, Chile, Argentina, and Colombia have all passed medical marijuana legalization laws and legal cannabis sales in South American markets are expected to surge from just $125 million in 2018 to $776 million by 2027.  

The opening of the Canadian recreational cannabis market is just around the corner, and investors are wondering which marijuana stock is best positioned to deliver big gains in the coming years.

Let’s take a look and HEXO (TSX:HEXO) and Canopy Growth (TSX:WEED) (NYSE:CGC) to see if one might be a better buy for your portfolio.

Cannabis stocks were mostly sharply higher Monday, with India Globalization Capital Inc. a standout, adding another 18% on excitement about its plans for the CBD-infused-energy-drink market.

Maryland-based India Globalization’s stock IGC, +26.61% gained 27% on Friday after it revealed the plans, pulling the stocks of other companies already involved with the cannabinoid higher with it.

If past performance was the best way to pick stocks, Aphria Inc.(NASDAQOTH:APHQF) would be the hands-down winner over MedMen Enterprises (NASDAQOTH:MMNFF).

In less than three years of its stock trading publicly, Aphria's share price has multiplied by nearly 20 times. MedMen isn't up nearly that much in its first year of trading.

Of course, past performance isn't the best way to pick stocks.

It's much more important to evaluate companies' business prospects. Which is the better marijuana stock between Aphria and MedMen?

Here's how their prospects stack up against each other.