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Buying This Stock Could Be Like Buying Canopy Growth (TSX:WEED) in 2014

Investors’ awareness of marijuana stocks began over four years ago when Canopy Growth (TSX:WEED)(NYSE:CGC) debuted on Toronto’s TSX Venture Exchange. The name then was Tweed Marijuana. The company earned the distinction of being the first Canadian publicly traded medical marijuana company.

On the first day of trading, the stock price closed at $2.59. Five years later, WEED was trading at $57.72 — a whopping price appreciation of 2,128.57%. Drone Delivery Canada (TSXV:FLT), a drone technology company, could follow the same trajectory. Investors should keep a close watch on the stock early on.

Preeminent weed company

There’s no doubt that Canopy Growth is the most famous and distinguished cannabis producer in Canada and the world. The company has grown so big that the market capitalization stands at $14.95 billion today.

Canopy Growth, with then CEO Bruce Linton at the helm, made great strides. In August 2018, American alcoholic beverage giant Constellation Brands invested a cool $5 billion in Canopy Growth. The massive investment translated into 38% ownership of the cannabis producer.

But less than a year later on July 3, 2019, the Constellation-dominated board at Canopy Growth gave Linton his walking papers. Prior to the parting of ways, Constellation reported US$245 million Q1 2019 losses at Canopy. Without Canopy’s huge net loss in fiscal 2019 Q4, Constellation would have reported profit.

With the displeasure at Canopy Growth’s dismal financial performance, the writing was on the wall. Linton had to be fired, and the once high-flying weed stock would need to reboot.

Pioneering technology

Drone Delivery Canada, the pioneering technology firm, has yet to generate heightened investor interest since listing also on the TSXV. As of this writing, the stock is trading at $1.00 flat, although the price already touched a high $1.86 previously.

The company brings drone delivery to the table. It is a “disruptive technology” intended to re-define the traditional shipping or delivery market. With the use of drones, product deliveries are easier, faster, and cheaper. Companies that will use drones for delivery can grow both top and bottom lines.

Many firms across different industries could use drone delivery services. E-commerce, postal, and medical supply deliveries will be quicker. Thus, huge benefits await Canadian retailers, logistics and service providers and government agencies.

Drone Delivery Canada’s mission is to make available a drone delivery platform that would provide next generation logistic services. The small-cap company is using industry leading software, customization, and patent pending architecture.

In other words, Drone Delivery Canada can provide a complete solution for the delivery industry. There are flight systems that could cover all aspects of an unmanned aerial vehicle from the operational component. But there can be an integration with logistics.

For now, the drone delivery system is confined within Canadian geography only. But Drone Delivery Canada could be a global leader in the drone delivery industry. Investors who are thinking outside the box would see the potential of this tech stock.

In a few years, FLT’s price growth could be greater than what WEED achieved for investors.

You might be missing out on one of the biggest opportunities in Canadian investing history…

Marijuana was legalized across Canada on October 17th, and a little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

Besides making key partnerships with Facebook and Amazon, they’ve just made a game-changing deal with the Ontario government.

This is the company we think you should strongly consider having in your portfolio if you want to position yourself wisely for the coming marijuana boom.

Learn More About This TSX Stock Now

Fool contributor Christopher Liew has no position in any of the stocks mentioned.

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