The Marijuana Stocks Making Waves This Week
CORAL GABLES, FL / ACCESSWIRE / December 3, 2018 / Marijuana stocks and the cannabis industry at large have seen big changes in recent months, and that has many investors looking closer at cannabis stocks for the first time. The start of recreational cannabis sales in places like Canada has given the businesses that grow, process, and distribute marijuana a chance to prove themselves.
Four leading cannabis stocks to watch this week: Leafbuyer Technologies Inc. (LBUY), New Age Beverages Corporation (NBEV), Tilray, Inc. (TLRY), and CV Sciences, Inc. (CVSI).
This month could lead the way for the next step of legalization in the US. While no details were announced, the four leading Farm Bill negotiators from the House and Senate released a statement that they had reached an "agreement in principle" to fully legalizing hemp in the 2018 Farm Bill. There didn't appear to be any major disagreements on the hemp issue and it could be likely that the language to legalize hemp may be in the final version.
Leafbuyer Technologies Inc. (LBUY) has been on a growth path for the better part of the year. In its most recent financial reports, the company recorded a quarterly sales increase of 67% in the quarter ending September 30, 2018. The increase reflects the revenue booked in the quarter versus the same quarter of the previous year.
"Our record growth this quarter is a function of our bolstered national expansion and the higher dollar value we are receiving for our bundled packages," said Mark Breen, COO of Leafbuyer. "We are seeing a high demand for our loyalty services as well as our customer acquisition platform. We expect to see a significant increase in revenue coming from loyalty and order ahead products from our cannabis dispensary customers."
Leafbuyer also partnered with recreational and medical cannabis dispensaries throughout several legal markets to bring consumers the best deals for the 2018 Green Friday Deals Event. "Cannabis dispensaries are in the retail business just like clothing stores and technology outlets, and they understand the power behind offering great deals for consumers on the Black Friday shopping event," saidLeafbuyer's COO, Mark Breen.
Leafbuyer shares have seen increased trading activity over the last 2 days with highs of $0.74 on Monday morning.
For More Information On Leafbuyer, Click Here
New Age Beverages Corporation (NBEV) is a Colorado-based healthy beverage company. This morning shares of the company soared following deal news released from the company. New Age announced today that is has signed a definitive agreement to acquire Morinda Holdings, Inc., a Utah-based healthy lifestyles and beverage company with operations in more than 60 countries around the world.
The merger creates the 40th largest non-alcoholic beverage company in the world with $300 million in net revenue, $20 million in adjusted EBITDA, $200 million in assets, no debt, and $40 million in cash and working capital.
Consideration for the transaction will be $85 million, comprised of $75 million in cash and $10 million in New Age restricted stock based on the 40-day volume-weighted average price from closing. The cash consideration for the transaction will be sourced from New Age's current cash balance. The transaction is expected to close in late December.
For More Information On New Age Beverages, Click Here
Tilray, Inc. (TLRY) recently acquired subsidiary Alef Biotechnology officially renamed Tilray Latin America. This morning, the company announced that after completing an acquisition of its existing import and distribution partner Alef Biotechnology SpA, the company has officially relaunched as Tilray Latin America SpA, a wholly-owned subsidiary of Tilray.
Tilray previously announced a partnership with Alef Biotechnology in February 2017 to import and distribute Tilray products in Chile and Brazil. Alef, now Tilray Latin America, is currently licensed by the Chilean government to commercially produce medical cannabis and is planning a state-of-the-art facility to domestically produce and process medical cannabis products. Chilean law permits patients to access medical cannabis products under the supervision of a recommending physician.
For More Information On Tilray, Click Here
CV Sciences (CVSI) recently announced its financial results for the third quarter ended September 30, 2018. These included sales of $13,600,000, an increase of 143% compared to Q3 2017, gross profit of $9,945,000, an increase of 149% compared to Q3 2017, and achieved industry's first hemp extract self-affirmed Generally Recognized as Safe status for its hemp-derived CBD gold extract product line.
"We are encouraged by our performance as we delivered another strong quarter, including our third consecutive quarter of profitability. This was led by initiatives that include accelerating our brand recognition and brand loyalty and growing sales distribution channels that have generated triple-digit year-over-year revenue growth and double-digit sales growth on a sequential quarterly comparison. The demand continues to respond strongly to our leading PlusCBD™ product line, #1 in the hemp CBD product category in the natural products retail channel and we believe this is just the beginning for the vast and nascent hemp CBD market," stated Joseph Dowling, Chief Executive Officer of CV Sciences.
CV Sciences operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors.
For More Information On CV Sciences, Click Here
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Leafbuyer Technologies Inc., Midam is being paid $50,000 for a period of 30 days beginning November 1, 2018, and ending November 30, 2018. Midam has been paid an additional $50,000 and 40,000 common restricted shares of Leafbuyer Technologies, Inc. extending the contract another 30 days ending December 31, 2018. We own 77,000 shares of Leafbuyer Technologies. We may buy or sell additional shares of (LBUY) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Leafbuyer Technologies Inc. For previous compensation and disclaimer information, click here for our full disclaimer.
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