See enclosed announcements (2) of transactions of related parties. Attention is drawn to the comment section in the announcements.
See enclosed announcements (2) of transactions of related parties. Attention is drawn to the comment section in the announcements.
Some traditions are too time-honored to shirk, and on Wall Street, the annual ‘top picks’ are one. Usually made at the very end or very beginning of a year, the Street’s analysts publish reviews on the stocks they believe will show the best performance in coming months – their top picks. The analysts have been analyzing each stock carefully, looking at its past and current performance, its trends on a variety of time frames, management’s plans – they take everything into account. Their recommendations provide valuable direction for building a resilient portfolio in the new year. With this in mind, we used TipRanks' database to identify three stocks which the analysts describe as their ‘top picks’ for 2021. Talos Energy (TALO) The Gulf of Mexico has long been known as one of the world’s great hydrocarbon production regions, and Talos Energy, which produces some 48,000 barrel of oil equivalent per day from offshore operations in the Gulf, is an important player in the area. Talos finished the third quarter of 2020 running a net loss, but revenues, at $135 million, were up 53% sequentially. The company reported over $353 million in accessible liquidity to end the quarter, including $32 million in cash on hand and $321 million in available credit. In December of last year, and continuing into this January, Talos has firmed up its liquidity situation through issues of senior secured notes. The December issue, of $500 million at 12%, will be used mainly to pay down a previous note issue which comes due next year. The January issue, an additional $100 million, will be used to cover outstanding debt on the reserves-based lending facility. Both note issues are due in 2026. Highlighting TALO as his top E&P pick for 2021, Northland analyst Subash Chandra wrote, "TALO is one of the few companies that we are aware of trading at trailing PDP values without a good reason, in our view. The company has addressed the maturity wall and credit facility stresses with a December equity offering and refi. They enter 2021 with breathing room to cross the finish line with Zama and look for scaling opportunities in GoM." To this end, Chandra rates TALO an Outperform (i.e. Buy), and puts a $19 price target, indicating the potential for 91% growth in the coming months. (To watch Chandra’s track record, click here) Overall, with five analyst reviews on file, including 4 Buys and a single Hold, Talos gets a Strong Buy rating from the analyst consensus. Shares are priced at $9.96, and their $14.33 average target gives ~44% upside on the one-year horizon. (See TALO stock analysis on TipRanks) Twilio (TWLO) Next up is Twilio, a Silicon Valley cloud communications company. Twilio’s software services allow customers to run their telecom service through their office computer servers, making available not just phone calls but chats, texts, and video conversations. The service includes security features such as user verification. The COVID pandemic, and the shift to remote work that was enforced on the economy, has been a boon to Twilio. The shift put a premium on stable and reliable remote connections and telecommuting, and the company’s revenues, which were already strong and showing sequential gains in every quarter, rose to $447 million in 3Q20. Subsequently, Twilio’s shares have skyrocketed 225% over the past 52 weeks. Oppenheimer analyst Ittai Kiddron sees the company on a solid foundation for continued growth, writing, “While some puts and takes are in place in 1Q21, Twilio's long-term opportunity remains underappreciated by investors. We believe the company's differentiated product portfolio (communications/data) and evolving GTM approach (hiring/GSI) can drive G2K/int'l adoption/expansion and enable >30% rev. growth at scale (>$4B/$6B) through CY23/24.” The 5-star analyst chooses TWLO as a ‘top pick,’ based on his upbeat analysis of Twilio. That comes with an Outperform (i.e. Buy) rating and a $550 price target implying one-year growth of 41%. (To watch Kiddron’s track record, click here) How does Kiddron's bullish bet weigh in against the Street? Overall, Wall Street likes Twilio, a fact clear from the 21 analyst reviews on record. No fewer than 18 of those are Buys, against just 3 Holds. However, the stock’s recent share gains have pushed the price up to $388.65, leaving room for just 2% upside before hitting the $396.88 average price target. (See TWLO stock analysis on TipRanks) SI-Bone (SIBN) Medical tech is a field of near-endless possibility, and SI-Bone has found a niche. The company specializes in the diagnosis sand treatment of pain and dysfunction in the sacroiliac joint between the lower back and pelvis. The company’s revenues dropped off between 4Q19 and 2Q20, as the corona crisis put a damper on elective medical procedures. That turned around in Q3, when the economy began to open up; many industries, including the medical field, saw a burst of pent-up demand that has not yet dissipated. In raw numbers, SIBN reported a 42% sequential revenue increase for Q3, with the top line at $20.3 million. Year-over-year, revenues were up 26%. During the quarter, the company passed 50,000 iFuse procedures, handled by 2,200 surgeons around the world. The company had $132 million in liquid assets available at the end of the quarter, against $39.4 million in long-term debt. Looking forward, the company guides toward an 8% to 10% yoy gain in full-year revenue for 2020, expecting that top line at $73 million to $74 million. Analyst David Saxon, covering the stock for Needham, says, “SIBN has shown resiliency during the pandemic, and we believe its growth drivers can allow it to beat consensus revenue throughout 2021. Further, we expect SIBN's 2021 sales force expansion, building momentum in surgeon training, upcoming product launches, and direct-to-patient marketing will all contribute to strong revenue over the next few years.” Saxon uses these points to support his ‘top pick’ status for SIBN. His average price target is $35, suggesting an upside of 23%, and fitting nicely with his Buy rating. (To watch Saxon's track record, click here) All in all, SI-Bone gets a Strong Buy from Wall Street, and it is unanimous – based on 5 positive reviews. The shares are selling for $28.48, and their $33.80 average target implies room for ~19% growth over the course of 2021. (See SIBN stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
* This weekend's Barron's cover story offers thoughts and stock picks from the latest Barron's Roundtable. * Other featured articles examine the cutting edge in biotech stocks, an outlier bubble forecast and growing corporate political activism. * Also, the prospects for a struggling retailer, a luxury homebuilder, an oil giant and more.Cover story "Welcome to the Roaring '20s, but Maybe Not for Stocks, Our Experts Say" by Lauren R. Rublin offers thoughts from 10 investment pros on the Barron's Roundtable on how lofty valuations could limit the market's gains this year. The article includes nine stock picks from the roundtable. See if Walt Disney Co (NYSE: DIS) is one of them.Connor Smith's "GameStop Stock Doubled Last Week--But Challenges Remain" points out that Barron's recently argued that GameStop Corp. (NYSE: GME) shares looked pricey at $18, but now they are nearly $40. See why the downbeat view on the videogame retailer's stock remains the same.In "Intel's New CEO Has a Tough Task," Max A. Cherney makes the case that Pat Gelsinger's most pressing issue will be tackling the manufacturing issues at Intel Corporation (NASDAQ: INTC). See why there is no easy fix for a company that has long insisted on doing things in-house.The pandemic has reminded people of means that space and amenities in their homes have real value. So says "Why Toll Brothers Is a Play on the 'Single-Family Supercycle'" by Andrew Bary. See why Barron's believes Toll Brothers Inc (NYSE: TOL) can build on the housing boom, as the nation's largest luxury homebuilder offers rising returns and a low valuation.In Bill Alpert's "With Rare Speed, Gene Editing Emerges as Biotech's New Cutting Edge," the focus is on why stocks of companies wielding tools that allow them to edit DNA and attack genetic diseases and cancer are suddenly hot. Are Crispr Therapeutics AG (NASDAQ: CRSP) or Editas Medicine Inc (NASDAQ: EDIT) worth a look now?"3M Stock Is Unloved and Underpriced. Here's Why It Could Shoot Up Higher" by Ben Levisohn discusses why 3M Co (NYSE: MMM) stock could be poised to ride an economic rebound. After all, the conglomerate makes the adhesives, abrasives and chemicals that companies need in order to do what they do.See also: Benzinga's Weekly Bulls And Bears: AMD, Marathon, Tesla, Uber, Walgreens And MoreA renowned investor argues that stocks are too high, the Fed's promise of low interest rates is just a nice story, and Wall Street is always upbeat, according to Jack Hough 's "Jeremy Grantham's Bubble Forecast Is an Outlier. Is He Right?" See what Barron's thinks comes next for the likes of General Motors Company (NYSE: GM) and Procter & Gamble Co (NYSE: PG).In "Companies Are the New Activists After Capitol Riot," Leslie P. Norton examines how recent events have prompted America's corporations, from Amazon.com, Inc. (NASDAQ: AMZN) to Chevron Corporation (NYSE: CVX), to wade decisively into politics with a range of activist initiatives.Avi Salzman's "The Dow Dropped Exxon Mobil in August. But as Oil Prices Rise, So Does Its Stock" explains why it looked like Exxon Mobil Corporation (NYSE: XOM) might have to cut its dividend, but now rising oil prices give it time to cut costs and its $65 billion in debt. Find out why Barron's says Wall Street is giving it a second look.Also in this week's Barron's: * The 2020 Barron's Roundtable report card * Experts on how Biden can fix the COVID-19 vaccine rollout * How much presidents actually influence the economy * ESG activists' new focus on diversity in corporate leadership * What is next now that fear has come to the markets * What the outgoing administration meant for the economy * Whether higher dividend taxes for top earners are coming * Why "bridges" to maximize Social Security benefits should be built into 401(k)s * How Mexican resorts got creative during the pandemicAt the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.Photo by Mike Mozart on Flickr.See more from Benzinga * Click here for options trades from Benzinga * Notable Insider Buys Of The Past Week: Conagra Brands Plus Plenty Of Biotech Activity * Benzinga's Weekly Bulls And Bears: AMD, Marathon, Tesla, Uber, Walgreens And More(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Hexavest of Montreal slashed each of its positions in Apple, Intel, and Microsoft stock, and initiated a small position in electric-vehicle firm Nio in the fourth quarter.
Biden stimulus buzz may be waning, as the market rally had a healthy pullback. So did Tesla. Qualcomm and JPMorgan are near buy points.
Congressional leaders plan to get "right to work" on it. How soon could you get the cash?
Each week Trifecta Stocks identifies names that look bearish and may present interesting investing opportunities on the short side. Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on five names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
New retirees are like recent college graduates — they’re on their own after years of the same routine, and they have to find a new path to follow. This type of retiree ventures into the unknown, taking on a new job they’ve never done before.
If you haven't heard about the saver's credit, you'll want to get up to speed.
At a time when millions of people are strapped for money and counting on their income tax refund or a stimulus check, they’ll have to wait a little longer before they can file their taxes. Feb. 12 marks the first date the Internal Revenue Service will start accepting and processing returns. Tax season started Jan. 27 last year.
At 8.6% interest on its savings accounts, crypto fintech platform BlockFi is offering an interesting option for savers disappointed with low rates.
BlackBerry Limited (BB) is somewhat of an enigma in the investment world, full of great promise but at the same time, it has let shareholders down time and again. The company is armed with a huge patent portfolio, and offers several cutting-edge products in cybersecurity, Internet-of-Things (IoT), and automotive technology. What’s more, shares have surged 32% in the last two sessions after BlackBerry announced that it has sold 90 smartphone technology patents to Huawei, as part of its shift away from the mobile phone space. But while BlackBerry gushes with potential, it also disappoints quarter after quarter. In the most recent quarter, BlackBerry missed on revenue and GAAP EPS. Most concerning were the drop in revenue, down 20% year-over-year, and the sizeable increase in GAAP operating loss of $127 million, up from the $29 million loss one year ago. To be fair, some of the performance issues were pandemic-related, particularly with regards to the auto sector where plant shutdowns have translated to fewer automobile deliveries, and hence, lower QNX licensing fees. However, the company’s revenue has been shrinking for several years before the pandemic. The five-year growth rate for example is -20.8%. Company Transformation The story is not all bad. Glimmers of hope are emerging in what may yet shape up to be a multi-year turnaround story that started in 2013, the year that John Chen took the reigns of BlackBerry as CEO. At that time, BlackBerry was a $6 billion Titanic, immersed in red ink after hitting an iceberg called the Apple iPhone. After taking charge, John Chen proceeded to monetize the company’s patent portfolio, and transform the mobile phone manufacturer into a much more modest $1 billion software company. The transformation has taken place over several years, with half a dozen acquisitions along the way, including Cylance, Good, and AtHoc. These companies have been assimilated and worked into BlackBerry's product streams, but also have resulted in a significant write down of goodwill, including $500 million earlier in 2020. BlackBerry has at least stabilized its financial situation, and now has positive free cash flow and adjusted EBITDA. That said, the turmoil surrounding the company has affected its stock price and resulted in an attractive valuation. BlackBerry also boasts some promising technologies that could lead to strong revenue growth down the road. This may be a great time to invest in BlackBerry. Valuation Metrics BlackBerry’s low valuation should come as no surprise given its past troubles. The company has superior metrics versus the software industry on a number of fronts, summarized in the table below. MetricBlackBerryIndustryPrice/Sales Ratio5.8511.31Price/Book Ratio3.0711.44Gross Margin74.2%70.9%Operating Margin-9.2%-23.6%Current Ratio2.271.57Total Debt/Equity0.330.55 Metrics such as price/sales and price/book ratio suggest that BlackBerry is quite undervalued, with a strong likelihood that the stock will outperform once the company’s future potential is recognized by the market. It is not at all unreasonable to expect a 2x - 3x stock price increase from its current level. BlackBerry IVY BlackBerry’s recent announcement regarding its strategic alliance with Amazon Web Services (AWS) may be enough to kick-start the company’s stock price. The exclusive partnership provides instant credibility along with a ‘Big Data’ mindset to vehicle data, resulting in unlimited potential for third-party applications in areas such as car insurance, maintenance, EV charging, and connected vehicles. The AWS platform gives BlackBerry IVY cloud-connectivity, scalability, and a global reach. This initiative will provide BlackBerry with a new source of recurring revenue in the automotive market, where it already has software installed in over 175 million cars. Spark Suite Apart from BlackBerry IVY, there are several other promising technologies emerging from BlackBerry, including Spark Suite, which combines Endpoint Management with Endpoint Security, a logical step in the evolution of mobile devices. Spark Suite provides Zero Trust, an emerging concept in cybersecurity that is becoming a necessity for enterprises as mobile devices such as wearables become the norm within the workplace. In addition to IVY and Spark Suite, BlackBerry has several other more mature product offerings including QNX, BlackBerry AtHoc, and BlackBerry SecuSUITE. While not as exciting as BlackBerry's recent initiatives, they provide a steady and increasing revenue stream. Wall Street’s Take From Wall Street analysts, BlackBerry earns a Hold analyst consensus based on 3 Hold ratings. Additionally, the average price target of $8 puts the downside potential at 18.7%. (See BlackBerry stock analysis on TipRanks) Summary and Conclusions BlackBerry has had a turbulent past, downsizing from a $6 billion hardware company into a $1 billion software company over the last seven years. Revenue was down 20% year-over-year in the latest quarter, but much of the poor performance can be attributed to the soft auto sector resulting from the pandemic. QNX licensing fees and royalties will pick up as the global economy improves. Despite several years of disappointing results, the company has stabilized its financial situation and appears to be positioned to capitalize on several leading-edge technology ventures, including its exclusive partnership with AWS and enterprise mobility management and security. Given the very low valuation, this could be an ideal time to invest in BlackBerry. Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.
Berkshire Hathaway is the ultimate Warren Buffett stock. But is it a good buy? Here's what the earnings and chart show for Berkshire stock.
The debate around canceling student debt has been front and center in the wake of the presidential election, and President-elect Biden should provide substantial cancellation on his first day in office.
In Q4 2020, the company raised $3.3 billion across its cryptocurrency investment vehicles.
Among the Dow Jones stocks, Apple and Microsoft are among the top stocks to buy and watch in January 2021.
* Benzinga has examined the prospects for many investor favorite stocks over the past week. * The week's bullish calls included the electric vehicle leader and a recovering retailer. * A ride-sharing company and a semiconductor maker were among the bearish calls.As the fourth-quarter earnings reporting season got underway last week, the major U.S. indexes lost a little ground. The Dow Jones industrial average concluded the week down about 1%, and the S&P 500 and Nasdaq retreated a little more.Of course, much of the attention during the week was focused on the political drama in Washington, D.C. The U.S. president became the first ever to be impeached twice, after the prior week's chaos at the U.S. Capitol. Social media pulled the plug on the president and others who fomented the insurrection. The outgoing president also kept up the pressure on China, while the incoming president laid out a huge pandemic and economic recovery program.In corporate news, the U.S. Securities and Exchange Commission opened a probe into a petroleum giant, a semiconductor leader announced management changes, a casino owner and Republican megadonor passed away, and the Detroit Auto Show was canceled.Through it all, Benzinga continued to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.Bulls Tesla Inc (NASDAQ: TSLA) is not an auto company but rather a disruptive technology company. So says Shivdeep Dhaliwal's "Tesla Reaching T Valuation In 2 Years? Here's What Inspires Daniel Ives' Optimistic Target." Are U.S. political developments bullish for the Elon Musk-led company?Priya Nigam's "Marathon Oil Gets Upgrade Due To Higher Oil Prices, More Cash Return To Shareholders" is focused on how Marathon Oil Corporation (NYSE: MRO) is likely to generate around $2 billion over the next couple of years.In Jayson Derrick's "Baird Upgrades Walgreens Boots, Expects Turnaround Of 'Train Wreck' Performance," see the several catalysts that could help turn around specialty retailer Walgreens Boots Alliance Inc (NASDAQ: WBA)."Nvidia's Comprehensive Involvement In Gaming Market Continues Strong Demand: Rosenblatt" by Shanthi Rexaline examines how the competitive position of NVIDIA Corporation (NASDAQ: NVDA) in the gaming GPU market will only get better.In "Cantor Analyst Raises Aphria And Tilray Price Targets Amid Merger," Jelena Martinovic discusses why the impending merger with Tilray Inc. (NASDAQ: TLRY) has overshadowed the recent disappointing quarterly results from Aphria Inc. (NASDAQ: APHA).For additional bullish calls of the past week, also have a look at the following: * Study: Investors Say Tesla, Apple And Microsoft Were 2020's Top Stocks * Why KeyBanc Is Bullish On These 4 Casino StocksBears A Japanese tech investment giant has trimmed its stake in Uber Technologies Inc (NYSE: UBER), according to "SoftBank Dumps B Worth Of Uber Shares After Stock's Rally" by Aditya Raghunath. See how much of the stake in the ride-sharing company remains and whether it is still the largest investment in the firm's portfolio.Shanthi Rexaline's "Why Intel's CEO Transition Is A Negative For AMD: Analyst" argues that the "blue sky" scenario for Advanced Micro Devices, Inc. (NASDAQ: AMD) may start to crumble as its rival gets back on its feet. How much are AMD's share gains in servers likely to moderate?In Chris Katje's "Palantir Vulnerable With Valuation And Lockup Concerns, Citi Says," see whether shares of software company Palantir Technologies Inc (NYSE: PLTR) have run too far. Plus, a large share lockup expires around the same time as the upcoming earnings report."JPMorgan Says Hydrogen Stock Plug Power Trades At 'Steep Price,' Downgrades FuelCell Energy" by Jayson Derrick shows why the "compelling" path to $1.2 billion in sales by 2024 for Plug Power Inc (NASDAQ: PLUG) did not impress one top analyst.For more bearish takes, be sure to check out these posts: * Why Investment Strategist Ed Yardeni Is Worried About A Tech Stocks, Bitcoin-Led Market Meltdown * 'You're A Fool' Who Will 'Lose Everything' If You Take On Debt To Invest In Crypto, Mark Cuban Says * How Did Retail Perform During The Holidays?At the time of this writing, the author had no position in the mentioned equities.Photo Courtesy of PixabayKeep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Click here for options trades from Benzinga * Barron's Picks And Pans: Dividend Aristocrats, Alibaba, GameStop, Walmart And More * Notable Insider Buys Of The Past Week: Howard Hughes, Party City, Perrigo And More(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Andrew LeftCitron Research's Andrew Left criticized insurance company Lemonade Inc (NYSE: LMND) on Friday, saying its stock multiple is based on empty marketing tactics.The Lemonade Bear Case: In a Twitter live video, Left dismissed Lemonade Inc's claims of bringing new technology to the insurance industry, saying the company's technology is no different from insurers like Progressive Corp. (NYSE: PGR) or State Farm."They've been lying to their customers and their shareholders," said the noted short seller.The company has not responded to a request for comment.Not An ESG Company: He also blasted Lemonade's claims of being a "social good" company as an easy marketing ploy.Left said Lemonade is taking advantage of younger investors' interest in supporting companies that have a positive social impact, like Tesla Inc (NASDAQ: TSLA)."It's playing on the millennial investors," he said, adding that the company has a higher multiple than Zoom Video Communications (NASDAQ: ZM), Uber Technologies Inc (NYSE: UBER) or Tesla Inc (NASDAQ: TSLA).Lemonade insiders have sold $400 million in the past six months but gave just $1 million to charity last year, he said.Left said the Securities and Exchange Commission and the Federal Trade Commission should look more closely at companies that make claims of being socially responsible.Price Action: Shares of Lemonade ended Friday's trading down 6.79% at $147.74 on Friday. Left's video posted to Twitter at 11:30 a.m.Related Link: XL Fleet Spikes On CEO's CNBC Plug, Citron's Long CallSee more from Benzinga * Click here for options trades from Benzinga * Hillman Group In Talks With Tilman Fertitta SPAC: Bloomberg * 6 Sports SPACs To Consider For Your Investing Playbook(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
DraftKings is one of the top IPO stocks to watch, as gambling legalization gains steam. Here is what the fundamentals and technical analysis say about buying DKNG stock now.
Bloomberg this weekend reported on the boom that is taking shape in the commodities markets.What Happened: Investors are moving from the bull market in stocks to areas further afield in search of returns in a very-low interest rate environment."Commodities haven't been this sexy since the mid-2000s, when China was stockpiling everything from copper to cotton," Bloomberg reports.The story points to several developments: * JPMorgan Chase & Co. (NYSE: JPM) recommending a move away from bonds toward materials * Hedge fund bets at their highest levels in a decade, totalling nearly $120 billion * Agricultural markets also up more than 30% in the last decade * Corn at a seven-year high * Soybeans and wheat at their highest prices since 2014 * Copper having the potential to rally 20% to more than $10,000 a metric ton, according to Francisco Blanch, head of global commodities research at Bank of AmericaQuick Ways To Jump In: If this makes you itchy to get in on the action, then here are three ETFs and two copper funds that can give you exposure to metals and agriculture, which we gathered by asking around the Benzinga staff for some quick ways to place bets.Note that this is by no means a comprehensive list but some simple ways to buy if you believe these commodities will continue their rise. * Invesco DB Agriculture Fund (NYSE: DBA) With $691.8 million in assets under management, this is one of the largest ETFs that holds actual agricultural commodities. Its 26-week return rate stands at 20.79%, according to ETF Database. Its share price is up 20.79% over the past six months and closed last week at $16.56. * For an ETF that holds agricultural stocks, the largest is VanEck Vectors Agribusiness ETF (NYSE: MOO). It has $914.5 million in assets under management and "the best ticker symbol out there," says Spencer Israel, producer of Benzinga's PreMarket Prep. It has a 26-week return rate of 31.32%, according to ETF Database. It is up 29.89% over the past six months and closed last week at $82.14. * The VanEck Vectors Rare Earth/Strategic Metals ETF (NYSE: REMX) holds stocks of companies that produce rare earth metals such as titanium, molybdenum, cerium, manganese and tungsten. It has $421.1 million in assets under management. The ETF's 26-week return rate is 89.57%, and its share price closed last week at $72.38, up 87.90% over six months. * For pure copper plays, also look into the Barclays iPath Bloomberg Copper Subindex (NYSEARCA: JJC), which is an exchange-traded note, and the United States Copper Index Fund (NYSE: CPER), an exchange-traded product.Image source: PexelsSee more from Benzinga * Click here for options trades from Benzinga * Tesla Takes Legal Action Against Chinese News Outlet Over Report Of 'Sweatshop' Conditions At Shanghai Gigafactory: Global Times * Swiss Bank Chairman Benjamin de Rothschild Dies Of Heart Attack At 57(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Cannabis stocks widely outperformed the markets after a slew of financing deals and strong earnings reports."The cannabis industry is off to a great start this year with New York state pushing hard for legalization," Green Market Report editor-in-chief Debra Borchardt said. "In addition to that several companies like GrowGeneration and GW Pharmaceuticals reported stellar earnings. Plus, Subversive Capital closed on the largest SPAC in the industry. Hopefully, the good news in 2021 will continue unlike the curveball thrown at us in 2020."ETFs were all up by double digits. Over the last five trading days: * The ETFMG Alternative Harvest ETF (NYSE: MJ): gained almost 18% * The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): was up almost 12% * The Cannabis ETF (NYSE: THCX): rose 18.4% * The Amplify Seymour Cannabis ETF (NYSE: CNBS): advanced 13.9s% * The SPDR S&P 500 ETF Trust (NYSE: SPY) was down 1.57%Benzinga Cannabis content is now available in Spanish on El Planteo. Sale TrendsCannabis sales in Michigan hit $984.6 million in 2020. Medical cannabis sales accounted for $474 million for the year, while adult-use sales reached $510.7 million.Rhode Island and the Soboba Band of Luiseno Indians received approvals from the U.S. Department of Agriculture (USDA) for its hemp regulatory proposals.The Christmas and New Year's holidays marked the single biggest cannabis sales period of 2020. The period between Dec. 18 and Dec. 24 generated roughly $427 million, according to Akerna (NASDAQ: KERN). The largest sale day of the period was Wednesday, Dec. 23, with $87.3 million, making it the third largest cannabis sales of the year, just behind Green Wednesday with $87.4 million. Exceeding all expectations, New Year's Eve was the single biggest sales day of 2020 with $89.4 million. "The last two weeks of 2020 were easily one of the most profitable weeks of the year for cannabis retail," Akerna CEO Jessica Billingsley told Benzinga. "If we've learned anything from 2020, it's that cannabis is resilient, profitable, and exceedingly popular with U.S. consumers."Financings And M&A Ayr Strategies Inc. (OTCQX: AYRWF) is offering 4 million voting shares with a price of CA$34.25 per share for total gross proceeds of around CA$137 million.Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) acquired Bluma Wellness Inc. (CSE: BWEL) (OTCQX: BMWLF) in an all-share transaction worth $213 million.PureK Holdings Corp. (TSXV: PKAN) announced plans to acquire the BudaPets brand.Curaleaf Holdings Inc. (OTCQX: CURLF) finalized a $50 million, three-year secured revolving credit facility.Gold Flora formed a strategic partnership with Stately Capital Corporation to bolster development of the company's California-based vertically integrated operation. Stately Brands also agreed to inject CA$10 million ($7.8 million) and contribute other assets to support the Gold Flora's expansion.Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) wrapped up its purchase of Platinum Vape after making a final cash payment of $13 million to the sell-side of the $35 million deal.Vext Science Inc. (CSE: VEXT) (OTCQX: VEXTF) disclosed plans sto raise $18 million through a bought deal offering of its units.The Blinc Group, Inc. announced the closing of a pre-Series A bridge financing of $1.5 million. The round was led by Equitas Partners Fund, WGD Capital, LP, and 7thirty Capital.Kaya Holdings Inc. (OTCQB: KAYSD) agreed to buy a 50% interest in Athens, Greece-based Greekkannabis SA. Through its subsidiary, Kaya Brands International Inc., the company initially acquired a 25% interest in Greekkannabis via a share transfer deal with current Greekkannabis shareholders on Jan. 11. Village Farms International Inc. (NASDAQ: VFF) (TSX: VFF) raised some $135 million through a direct offering of about 10.9 million shares.A consortium made up of CMG Partners Inc., Left Coast Ventures Inc. and Shawn Carter (Jay-Z) --with his company Roc Nation -- finalized a deal with Subversive Capital Acquisition Corp. (OTCQX: SBVCF). The newly formed company has been dubbed TPCO Holding Corp., or The Parent Company.French energy company Qairos Energies is financing a project that will use locally grown hemp for the production of hydrogen and methane. The Mareil-en-Champagne-based company will fund a new facility with almost €18.8 million ($23 million).Power REIT (AMEX: PW) purchased a 4.3-acre property in Ordway, Colorado. The property has been leased by The Apotheke, a Minority Woman-Owned Business run by dispensary operator Viviana Fernandez. Power REIT is set to financially support the 21,558 square-foot property -- which includes a greenhouse and processing facility -- with $1.8 million.Earnings Aphria Inc. (TSX: APHA) (NASDAQ: APHA) posted net cannabis revenue of CA$67.9 million for the second quarter of 2021 -- 99% higher than in the prior-year quarter. Overall, net revenue hovered CA$160.5 million ($126.6 million). That's up by 33% from the same period in fiscal 2020.GW Pharmaceuticals plc (NASDAQ: GWPH) released preliminary unaudited financial results for the fourth quarter. Net sales are expected to be around $148 million. For the full year, GW anticipates net sales of $526 million while its total Epidolex preliminary net product sales reach around $510 million -- compared to $296 million in 2019. The company also revealed it held cash and cash equivalents of around $486 million at the end of the year.Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) posted financial results for the first quarter of fiscal 2021, reporting a net loss of $34.4 million, or 17 cents per share on a diluted basis, which compares to a net loss of $900,000, or one cent per share in the same quarter of fiscal 2020.GrowGeneration Corp. (NASDAQ: GRWG) made $192 million in revenue over the last year. That's a year-over-year increase of 140%. The company expects its full-year 2021 revenue to range between $335 million-$350 million.KushCo Holdings Inc. (OTCQX: KSHB) achieved $26.8 million in revenue over the first quarter of 2021. That's down by 23% compared to the prior year. Cypress, a California-based company, attributed the decline in revenue to the elimination of the hemp trading division, as well as the implementation of its comprehensive strategic plan. KushCo also achieved positive adjusted EBITDA of $500,000 compared to a $6.8 million loss in the previous year.Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) generated approximately $4.7 million in revenue, compared to $3.6 million in the prior period and $150,000 in the corresponding quarter of 2019. Adjusted positive EBITDA of $2.3 million compared to a $2.15 million loss in the fourth quarter of last year.See all on these results at Benzinga Cannabis' Earnings Center.More News Truss CBD USA, a joint venture between Molson Coors Beverages Co. (NYSE: TAP) and HEXO Corp. (NYSE: HEXO), is launching a new line of CBD beverage in Colorado. The product, dubbed Veryvell, is a sparkling CBD water and non-alcoholic CBD beverage with zero sugar and calories.Israeli cannabis company Together Pharma (TLV: TGTR) completed the import of 1.7 tons of medical grade cannabis from the Uganda farm of that it own."We continue our efforts in growing and selling high quality medical cannabis consisting of strains that are in high demand on the market, while strengthening our presence in the cannabis supply chain through increased market presence"' Nir Sosinsky, co-founder and managing director at Together Pharma, told Benzinga.BIOMEDICAN will spin off a new company, SciFeed, and produce a compound called Astaxanthin -- an antioxidant with a market value of more than $1 billion. "The largest segment of the Astaxanthin market is salmon and trout feed," President Dennis O'Neill said. "Although human consumption is increasing, it is still a much smaller piece of this market. Focusing on the fish farms will create a better and more focused effort for maximizing these markets."Tyson Ranch, a packaging and licensing company founded by Mike Tyson, announced it is expanding into Oklahoma. The Cookies store in Oklahoma City will begin carrying Tyson Ranch's Undisputed 87 Pre-Rolls starting on Saturday, Dec. 19."With Oklahoma being one of the hottest cannabis markets in the United States, it made a lot of sense to partner with Tyson Ranch to bring the best in health and wellness to the medical cannabis patients of Oklahoma," Tyler Dodd, founder and CEO of Arca Bellum, Tyson Ranch's Oklahoma partner, told Benzinga.TILT Holdings Inc (OTCQX: TLLTF)'s inhalation technology subsidiary Jupiter Research can now supply the U.S. and European medical cannabis markets with medical-grade inhalation devices. TILT CEO Mark Scatterday said the successful completion of the ISO certification process "opens the door for the expansion of growth opportunities with the development of inhalation device"s created specifically for the medical cannabis community. It's also expected to provide more pathways into the European medical marijuana market.Arrive Market launched a digital marketplace for lab-tested cannabidiol (CBD) products."We've seen the significant increase in companies entering the CBD space over the last few years, but we noticed that consumers were left with questions about the integrity of products and brands. Many products are not properly lab tested, and many that are 'mystery tested' by third parties are later found to have presented wildly inaccurate information," said Emily Lee, director of marketing at Arrive Market. "The need for an approachable, trustworthy resource and one-stop-shop for CBD became very apparent, so we launched Arrive Market to help fill that gap."Terra Vera launched in the U.S., offering solutions to replace conventional pesticides and increase product safety and consumer confidence within the cannabis industry. Using patented technologies compliant with EPA regulations, Terra Vera provides cannabis companies with a safe, effective, and sustainable approach to rid crops of contaminants while preserving the quality and yield of their products.Media compliance company Fyllo partnered with OpenGov, a leader in modern cloud ERP software for governments and state agencies, to create a comprehensive cannabis licensing, regulatory, and compliance tracking solution. Cannabis brand Cookies is expanding its line to include non-psychoactive mushroom formulations.The California-based company is rolling out a capsule line called "Caps." The three-in-one item combines mushrooms with cannabinoids and terpenes.Top Stories Of The Week: * 2020 Was The Year Of Edibles Due To The Global Pandemic, Report Shows * These 3 US States Could Legalize Weed In 2021 * Regulatory Update: Arizona, Kansas, Montana, And New Jersey * Kiva Confections, Airfield Supply Co. Launch 'Check Yourself' Breast Cancer Prevention Campaign * New Cannabis Products: Canned Cocktails, Post-Workout CBD Seltzers, Flower Products, And Oral Strips * Viridian Chart Of The Week: Who Gains From The Georgia Senate Flip? * Cannabis SPACs Will Remain Popular In 2021 Despite Several ChallengesTop Spanish stories: * Guia Practica: Como Comprar Acciones * Las SPAC de Cannabis Seguiran Siendo Populares en 2021 a Pesar de los Desafios * ¿Puede el Cannabis Ayudar con la Menopausia? * Bitcoin: ¿Es Realmente una Buena Inversion? * 'Vamos a Meter un Indoor dentro de la Facultad': la UNICEN Tendra su Propio Cultivo de Cannabis Experimental * Hablamos Seriamente de Alfajores con El Catador de Alfajores * Como Cultivar Marihuana Hidroponica * Se Puede Cultivar con Semillas de Prensado y te Enseñamos las Claves para Lograrlo * MDMA o Éxtasis: Todo lo que Necesitas Saber * Éxodo Lirical, Revelacion de la Red Bull Internacional Confiesa: 'Aczino me Dio el Reconocimiento mas Grande de mi Vida'Top Portuguese stories: * Como Investir em Açoes de Maconha * Conheça os Dois Argentinos que Fizeram a Maior Exportaçao de Maconha da HistoriaLead image by Ilona Szentivanyi. Copyright: Benzinga.See more from Benzinga * Click here for options trades from Benzinga * The Week In Cannabis: Stocks Surge On Heels Of Georgia Runoff; NY Legalization; M&A And Financings Spike * The Week In Cannabis: DEA Research Licenses, Wisconsin, An Israeli Index, M&A, And More(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.