Nine pure pot stocks on the ASX are making money from cannabis.

Stockhead monitors some 32 listed companies which have announced a connection to cannabis, of which 15 are ‘pure’ pot stocks in that their businesses are entirely involved in marijuana.

  • Scroll down to find out who made what

Of these companies, the hemp stocks are doing the best — but it’s not as easy as it was last year.

Newcomer Ecofibre (ASX:EOF) pipped Elixinol Global (ASX:EXL) from the top spot, taking $9.3m in the March quarter — the same quarter it listed in — primarily from the more mature US hemp health business.

It’s tipping a small full year profit this year, which would make it the first ASX pot stock to do so.

Elixinol on the other hand watched its cash burn jump 290 per cent as the company focuses on margins and revenue in the increasing competitive US hemp market.

Of the five companies that made no money, Botanix (ASX:BOT), Zelda (ASX:ZLD) and CannPal (ASX:CP1) are biotechs. The value in biotechs is not their revenue generating ability — although Zelda is seeking to topple this shibboleth — but the IP they can later commercialise.

AusCann (ASX:AC8) is in the process of switching into a pharmaceutical manufacturer and away from being a commercial grower.

It plans to have products for sale in Australia in the next few months, chairman Mal Washer told Stockhead.

Cann (ASX:CAN) is still building its giant growing facility, now sited in Mildura. What revenue it will make in the coming months will be from the Victorian government, which starting buying cannabis resin in April until June 2020 to turn into medication for childhood epileptic patients.

THC (ASX:THC), Roots Sustainable (ASX:ROO) and Roto-Gro (ASX:RGI) all make money from equipment sales into the cannabis market.

Althea (ASX:AGH) is selling products imported from Canadian giant, and major shareholder, Aphria.

MGC Pharmaceuticals (ASX:MXC) is targeting the miniature Australian market and the giant European market, while Creso Pharma (ASX:CPH) is also selling into these markets, or on the cusp of doing so, as well as Latin America.

Esense-Lab (ASX:ESE) is finally selling its cannabis-like vaping liquids after 18 months of corporate turmoil.

MMJ (ASX:MMJ) as an investor does not issue quarterly reports.

TickerNameMarch quarter cash receiptsMarket Cap
EXLELIXINOL GLOBAL LTD$8m$557.8M
EOFECOFIBRE$9m$677M
AC8 AUSCANN GROUP HOLDINGS LTD0$119.0M
BOTBOTANIX PHARMACEUTICALS LTD0$78.4M
CANCANN GROUP LTD0$338.1M
ZLDZELDA THERAPEUTICS LTD0$31.7M
CP1CANNPAL ANIMAL THERAPEUTICS0$13.5M
CPHCRESO PHARMA LTD$121k$59.5M
AGHALTHEA GROUP HOLDINGS LTD$135k$112.8M
ESEESENSE-LAB LTD-CDI$5k$4.2M
MXCMGC PHARMACEUTICALS LTD$3k$53.4M
ROOROOTS SUSTAINABLE AGRICU-CDI$68k$5.1M
RGIROTO-GRO INTERNATIONAL LTD$620k$24.3M
THCTHC GLOBAL GROUP LTD$843k$68.9M
MMJMMJ GROUP HOLDINGS LTD-$50.6M

 

At Stockhead, we tell it like it is. While MMJ and Creso are Stockhead advertisers, they did not sponsor this article.