What an incredible time to own legal cannabis shares – particularly these shares.

Tilray Inc. (NASDAQ: TLRY) and Aurora Cannabis Inc. (OTC: ACBFF) have been the marijuana sector’s “super stocks” of this summer. They’ve thrown off unthinkably large gains over the past few weeks and months.

Most recently, Tilray was riding high – up more than 30% – on news that it had secured U.S. Drug Enforcement Agency (DEA) approval to import research cannabis to the University of California San Diego’s Center for Medicinal Cannabis Research.

And as you may have seen the other day, it’s Aurora’s turn for the spotlight…

A Great Year Is About to Get Even Better

Aurora Cannabis boasts an annual growing capacity of 1.2 million pounds and a significant international presence with sales and operations in 14 countries.

The company is riding high right now, and it looks to be settling into a favorable position for the long term.

The company reported revenue of $19.1 million for the fourth quarter and $55.1 million for the year. That’s up 223% and 206% year over year, respectively.

Plus, Aurora raked in quarterly net income of $79.3 million, compared to a net loss of $4.8 million a year ago.

That’s even more impressive when you consider that Aurora was digesting several major acquisitions during that stretch. It bought ICC Labs Inc. (OTC: ICCLF), for instance, which has more than a 70% market share in Uruguay and a license to produce medical cannabis in Colombia for $290 million.

All this activity has translated nicely into big, juicy gains.

Since I first showed it to my paid-up Nova-X Report readers on Sept. 2, 2016, Aurora has climbed 1,181%.

And if everything goes according to plan, we’ll be treated to even more before the year is out. It’s a plan that should see the stock positioned in front of tens of millions more investors.

Aurora is coming to the “big boards,” with a move to a major U.S. stock exchange.

When Pot Stocks Uplist, Monster Profits Follow

Today, Aurora Cannabis trades on the Toronto Stock Exchange under the symbol ACB.TO and over the counter here in the United States under the symbol ACBFF.

That makes it inaccessible to many investors whose brokers can’t or won’t handle international or OTC stocks.

The company has confirmed rumors that it plans to uplist its shares to a major U.S. exchange as early as next month, looking to cash in on investor interest in cannabis.

That’s going to be like rocket fuel for a company like Aurora, as American and global investors looking to cash in on the green wave that could be worth more than $50 billion by 2025 grab shares for themselves.

There’s ample precedent in recent history…

Just look at what happened when cannabis leader Cronos Group Inc. (NASDAQ: CRON) uplisted to the Nasdaq back on Feb. 27. The following day, Cronos shares soared more than 20% as 10 million shares traded hands.

And just to put a fine point on it, Aurora surged 13% when uplisting rumors, unconfirmed at the time, began to spread. Since the company confirmed its plans, a frenzy of good news, including the mere possibility of talks with Coca Cola Co. (NYSE: KO) has driven shares up close to 40%.

Aurora Chief Corporate Officer Cam Battley says he hopes to list the company in the United States by October, yet Aurora has yet to file any documents with the U.S. Securities and Exchange Commission.

Tilray Isn’t Letting Up for a Second

For its part, Tilray hasn’t exactly been languishing in Aurora’s shadow. The Canadian pot firm is up more than 155% for the month – and up nearly 590% from its July U.S. IPO.

Now, that firm is capitalizing on the incredible excitement around cannabidiol, a much sought-after non-psychoactive constituent compound in marijuana.

But its biggest recent (there have been several) profit catalyst was the announcement that Tilray subsidiary High Park Farms has received a sales license from Health Canada, the Canadian public health agency.

This license will permit High Park to “supply and sell finished cannabis products” for medical use in Canada but, even more importantly, grants it access to the country’s regulated “adult use” recreational market, due to launch in just under two weeks, on Oct. 17 – an event that could spark as much as $2 million in gains for investors in the best firms over the next year.

Remember, just going by the middle range of Deloitte estimates, that market could be worth $5.3 billion in very short order.

Still, neither Aurora nor Tilray are stocks to bet the farm on… yet. They’re still speculative and, obviously, volatile.

But the day when we can legitimately call them “blue-chip pot stocks” won’t be long in coming.

Attaining a listing on a big U.S. exchange is a huge positive development. It’s a sign of maturity, for one, given the strict reporting and transparency standards to which NYSE- and Nasdaq-listed companies are held.

I think it’s reasonable to think that Tilray and Aurora’s high-profit days are far from over. Every investor should get some exposure sooner rather than later.

— Michael A. Robinson

Source: Money Morning