Canadian cannabis company Canopy Growth, benefitting from the multi-billion dollar investment by Constellation Brands, the parent company of Corona beer company and Robert Mondavi wine, has been understandably making big financial news, but there are two competitors on the Nasdaq that deserve attention as well-Cronos Group and Tilray. In full disclosure, as I mentioned in a previous blog, I did make a small investment in Tilray on its opening day, buying a few shares at $21.39 and I’m pleased that the shares are trading today at $35.90, although I understand the possibility that the prices could tumble at any moment.

With any investment, it is important to do your homework and diversify and I’m no investment expert, but Keith Speights over at the Motley Fool is much more well-versed in investing, and he delved into both Tilray and Cronos. Speights opined as to which stock he feels is the better buy, here’s a snippet of the arguments for each:

The case for Cronos Group

Cronos already has a customer for much of that capacity. The company recently signed a five-year supply agreement with Cura Cannabis Solutions. Cura will buy a minimum of 20,000 kilograms each year from Cronos’ joint venture. In addition, Cronos Group is partnering with U.S.-based MedMen to launch retail cannabis stores throughout Canada.

The case for Tilray

Tilray was the first Canadian marijuana grower to export medical cannabis to Europe. The company partnered with Noweda, which has a network of 16,000 pharmacies, to supply medical cannabis in Germany. Tilray also has supply agreements in place with distributors in other countries across the world, including Argentina, Australia, Brazil, Chile, Croatia, Cyprus, the Czech Republic, New Zealand, Peru, and South Africa.

Better marijuana stock

Both of these companies should enjoy fantastic sales growth once Canada’s recreational marijuana opens for business. However, I think that Tilray’s growth will be stronger than Cronos Group’s.

While you shouldn’t just take my word for it, I personally believe that the major Canadian cannabis companies have to be in a position to do very well after October 17th, making their stocks decent buys at the moment. Over time, these Great White North companies will start facing more competition in the global market, but for now, they simply have the capital that other companies don’t have access to yet. Whether you agree with Speights that Tilray is a better buy than Cronos or whether you just want to trust Canopy Growth at the moment, there appears to be a great opportunity for investors looking to take advantage of a burgeoning industry that is just starting to grow (pun intended, sorry).

Learn the latest about cannabis financial markets, including how U.S. companies can take advantage of Canadian stock markets at the upcoming International Cannabis Business Conference this September 27th-28th in Portland, Oregon. Save $200 if you get your early bird tickets by September 12th!