Canopy Growth (NASDAQOTH:TWMJF) ranks as the biggest pure-play marijuana stock on the planet right now, with a market cap of $4.6 billion. GW Pharmaceuticals (NASDAQ:GWPH) comes in second with a market cap of $3.8 billion. The former is the largest Canadian supplier of medical marijuana, while the latter is a cannabinoid-focused biotech.

Which of these two is the better marijuana stock? Here’s how Canopy Growth and GW Pharmaceuticals compare.

The case for Canopy Growth

Investors have flocked to Canopy Growth for three primary reasons. One is that the medical marijuana market in the company’s home country of Canada is growing like a weed (pardon the pun). Canopy Growth’s sales soared more than 120% year over year in its latest quarter, with most of its revenue stemming from domestic medical cannabis sales. The Canadian medical marijuana market should continue to be a strong source of growth for Canopy, with total annual sales in the industry projected to more than triple by 2024.

But an even bigger opportunity for Canopy Growth could be just around the corner. Canada appears to be on track to legalize recreational use of marijuana later this year. Estimates vary on just how big the market might be, but $6 billion annually isn’t unrealistic. Canopy Growth should be well-positioned to capture a significant chunk of that market.

The company doesn’t only have its targets focused on its home front. Canopy Growth already has a nice foothold in the German medical marijuana market, thanks to its 2016 acquisition of MedCann. With a population more than twice the size of Canada, Germany presents a huge opportunity for the company. Canopy has also expanded operations through partnerships and joint ventures into several other countries, including Australia, Brazil, Chile, Denmark, Jamaica, and Spain.

More at https://www.fool.com/investing/2018/05/06/better-marijuana-stock-canopy-growth-vs-gw-pharmac.aspx