Canopy Growth (TSX:WEED)(NYSE:CGC) is currently trading back at levels last seen in August, which, in isolation, is nothing to write about. But if we consider that the stock is down 43% since mid-October highs, the volatility behind this stock becomes clear.

What’s changing here?

Well, it all comes down to expectations, sentiment, and multiples. This is why I have not been focusing on the fundamentals of these marijuana stocks. When a stock is trading on sentiment, as these stocks have been doing, this is what matters and will matter in the short term, at least.

Like Godzilla rampaging through a city in a low-budget movie, the market meltdown among marijuana stocks has left plenty of carnage in its wake. Many marijuana stocks plunged 25% or more.

The good news is that in the midst of the mayhem, there are several stocks that look really attractive now. Three that stand out are Constellation Brands (NYSE:STZ), Liberty Health Sciences (NASDAQOTH:LHSIF), and Origin House(NASDAQOTH:ORHOF). Here's why these are three marijuana stocks you might want to buy after the market meltdown.

Those that scoffed at upstart companies centering their business on the cannabis industry, mocking them at every chance, couldn’t have been more wrong. Several of these once “penny stocks” have evolved into billion-dollar international industry giants, some of which now trade on the New York Stock Exchange, Nasdaq and Toronto Stock Exchange. The good news for investors still looking at the cannabis space is that plenty of upside remains with opportunities not only in North America, but worldwide as the nascent cannabis movement continues to evolve.

Navdeep Dhaliwal was surprised when he first stepped foot in Lesotho last January — the climate was temperate, the landscape was lush, and the first footprints of a legal medical marijuana system were already in place.

“A close friend in the industry put me in touch with guys in Lesotho. So I went to meet with them, and I was really very surprised and impressed by the operation they had going there,” said Dhaliwal, president of Canadian licensed producer Supreme Cannabis.

There are a lot of cannabis producers out there using a number of tried-and-true methods, the trick for investors is finding a producer who has a successful operation but also one that is distinct enough that it won't be eventually drowned-out by imitators. A tradition that started on a farm that had been in a family for generations has turned to producing cannabis using advanced techniques also employed by NASA.

Canadian pot producer Aphria on Tuesday said it would begin trading on the New York Stock Exchange on Friday under the ticker "APHA," as other U.S.-listed marijuana stocks rebounded despite Canada's recreational weed shortages.

"Listing on the NYSE provides Aphria with access to the largest equity market in the world, with increased exposure to a vast array of U.S. institutional and retail investors," CEO Vic Neufeld said in a statement. He added: "We are excited to usher in a new era with the recent legalization of adult-use cannabis in Canada and as we aim to further expand our footing in exciting markets such as Latin America, the Caribbean and Europe."

Big things are happening with the marijuana industry in 2018. Since the beginning of the year:

The pullback in the share prices of Canadian marijuana stocks is giving some recent investors bad dreams.

Those who sat on the sidelines and missed the rally in the past year, however, are looking at the dip in the top cannabis companies and wondering which pot stocks might be attractive picks.

Let’s take a look at Canopy Growth (TSX:WEED)(NYSE:CGC) to see if it deserves to be in your portfolio today.

Atlanta, GA-based beverage giant Coca Cola Co. (KO) currently has no plans to enter the cannabis industry with marijuana-infused beverages, the company announced during its recent quarterly earnings call on Tuesday morning. 

Last week Canada became only the second country in the world to legalize recreational marijuana, but the black market for pot is continuing to thrive as customers seek out products that they can’t buy legally, including edibles, and sellers push back on government intervention in their industry.