|Bid||2.4800 x 34100|
|Ask||2.4900 x 39400|
|Day's Range||2.4800 - 2.6000|
|52 Week Range||2.1400 - 10.3200|
|Beta (3Y Monthly)||1.56|
|PE Ratio (TTM)||11.53|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to email@example.com, or visit our website at www.glancylaw.com. On November 14, 2019, the Company released an earnings report in which it reported a 24% sequential decline in revenue of C$75.3 versus C$98.9 in the previous quarter. In addition to this decline in revenue, the Company also announced that plans to finalize construction of additional grow facilities in both Denmark and Canada have been delayed.
New York, New York--(Newsfile Corp. - December 11, 2019) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Aurora Cannabis (NYSE: ACB) ("Aurora Cannabis" or the "Company") of the January 21, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.Faruqi & Faruqi LogoIf you invested in Aurora Cannabis stock or options between September 11, 2019 and ...
Cannabis stocks fell Tuesday, as analysts weighing in on Canopy Growth’s new chief executive took a cautious stance, highlighting the continuing challenges facing the company.
NEW YORK, NY / ACCESSWIRE / December 10, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered ...
Hagens Berman urges Aurora Cannabis Inc. (ACB) investors who have suffered losses in excess of $200,000 to submit their losses now to learn if they qualify to recover compensable damages. Hagens Berman is investigating whether the fraudulent period extends beyond that alleged in the complaint. The complaint alleges that Defendants misled investors about Aurora Cannabis’ business and prospects.
To help put a definitive end to persisting illicit cannabis markets, Uruguay's senate has passed a new bill to regulate medical marijuana. The bill, "A Comprehensive Law for the Promotion and Access to Medical and Therapeutic Cannabis," was introduced into Congress by the "Ir" sector of the “Frente Amplio” party, and approved unanimously. The new bill also presents guidelines for pharmaceutical compounding.
CALGARY , Dec. 10, 2019 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (HITI.CN) (HITIF) (2LY.F), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, is pleased to announce that it has entered into a definitive share purchase agreement (the "Definitive Agreement") with 2651576 Ontario Inc. (the "Minority Holder"), a private Ontario company, to acquire the remaining 49.9% interest (the "Minority Interest") in High Tide's majority-owned subsidiary, KushBar Inc. ("KushBar"). Pursuant to the Definitive Agreement, High Tide, which presently holds a controlling interest of 50.1% in KushBar, will acquire the Minority Interest in a transaction (the "Transaction") that will result in KushBar becoming a wholly-owned subsidiary of High Tide.
NEW YORK, NY / ACCESSWIRE / December 9, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine ...
NEW YORK, NY / ACCESSWIRE / December 9, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Aurora Cannabis Inc. ("Aurora" or the "Company") (ACB). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. The investigation concerns whether Aurora and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
DETROIT — The premier gathering of cannabis entrepreneurs and investors in North America, the Benzinga Cannabis Capital Conference , is heading to Miami in 2020 for its sixth installment. The conference, ...
A top task facing Canopy Growth’s newly-announced chief executive will be to control the cannabis company’s swelling expenses. Good thing that David Klein has been the financial chief at the pot producer’s big shareholder, (STZ) because his bud-counting skills will be tested by the costs of the new beverages, vapes and chocolates that Canopy starts selling in Canada next month. Investors seem happy that a financial guy is taking charge of (WEED) (ticker: CGC), whose founder Bruce Linton was forced out in July by Constellation (STZ) after the pot pioneer’s losses ballooned.
NEW YORK, NY / ACCESSWIRE / December 9, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate ...
NEW YORK, NY / ACCESSWIRE / December 9, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review ...
Cannabis Countdown: Top 10 Marijuana Stock News Stories of the Week Welcome to the Cannabis Countdown . In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for ...
NEW YORK, NY / ACCSSWIRE / December 8, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. Class Period: all persons and entities who purchased RealReal common stock pursuant and/or traceable to the Company's registration statement issued in connection with the Company's June 27, 2019 initial public offering.
A big thesis of the Canadian cannabis LPs investment story was global expansion. The news last week of Aurora Cannabis (ACB) being blocked from Germany sales highlights the bigger problems of trying to operate in dozens of countries. With a concerning low level of cash, the cannabis giant doesn’t need another revenue problem while a competitor just opened up a potential financing source to solve the cash crunch.Unsurprisingly, investor sentiment is also very negative, with individual portfolios in the TipRanks database showing a net pullback from Aurora stock.Germany ProblemAccording to MJBizDaily, Aurora Cannabis’ medical cannabis products aren’t going to be on the Germany market until early next year at the earliest. Health authorities apparently are concerned about a “proprietary step” used by the Canadian company to ensure the shelf life of the products.The news outlet suggests Aurora Cannabis could have a problem with prescriptions following regulatory approval next year as German pharmacists move onto another product for treatment of patients. In the last quarter, the company had C$5 million in international cannabis sales with the majority of the revenues from the German market. The issue speaks to the bigger concern of trying to meet regulatory requirements in dozens of countries as the company ramps up global operations.Just last week, the company announced plans for entering Ireland. The CBD oil drops are approved by the Medical Cannabis Access Programme for three medical conditions.This news should again caution the excitement over global operations, especially considering Aurora Cannabis will report virtually nothing for ongoing international operations that were a cornerstone of the stock story.Facility Financing While investors are facing another revenue disappointment for Aurora Cannabis, the company got some good news from Aphria (APHA) and a potential game plan for resolving current cash crunch fears. The ability of Aphria to obtain a C$80 million secured loan with an interest rate in the 5% range is a very positive sign for Aurora Cannabis. The larger cannabis company has nearly C$1 billion worth of property and equipment on the balance sheet.The large cannabis company ended the last quarter with only C$237 million of cash on the balance sheet or roughly enough cash to wrap up the capital spending for the rest of FY20 ending next June. Aurora Cannabis must fund ongoing operating cash burn via funding sources such as the existing at-the-market stock offering which already sold C$107 million worth of stock in FQ2.The market would welcome low cost debt based on the massive facilities already in operation. Any anti-dilutive option is a concern with the company already having borrowings of C$282 million plus another C$283 million in convertible debt after the recent conversion of C$230 million worth of converts.Aurora Cannabis lacks the immediate path to EBITDA profits that makes Aphria a more attractive company to extend secure facilities loans.TakeawayThe key investor takeaway is that Aurora Cannabis faces more operational struggles after a big hit to their international expansion plan. The company can’t face any hits that impact the path to profitability.A low-cost loan, secured by facilities would be one strong signal that Aurora Cannabis has turned the corner. For now though, investors are best watching on the sideline waiting for the cannabis company resolve funding issues first.To find better ideas for cannabis stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
NEW YORK, NY / ACCESSWIRE / December 6, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine ...
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aurora Cannabis Inc. (“Aurora” or the “Company”) (ACB) and certain of its officers, on behalf of shareholders who purchased Aurora securities between September 11, 2019 and November 14, 2019, inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
Cannabis stocks have been on the mend lately, although most are still carrying painful losses this year. Hexo (NYSE:HEXO) is not an exception to this observation. Hexo stock has been under considerable pressure, down 37% in 2019 and more than 70% from its May high.Source: Shutterstock Is the cannabis space really going to make a comeback? That much isn't clear yet, unfortunately. But we can determine which ones to buy in the event that names like Hexo stock do rebound.In November, these names fell off a cliff. I mean, really tanked hard amid relentless selling. Painful as it was, the plunge at least got the discussion going that perhaps these names were capitulating. There could still be some end-of-year selling as investors look to lock in tax losses, but positive signs are starting to emerge.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor instance, on Tuesday, when the stock market opened lower with indexes down more than 1%, pot stocks were holding in. Then they turned positive and started to gain momentum. How could cannabis stocks be green on the day when the S&P 500 index was down 1.3% for the session?These are not high-quality equities or a flight-to-safety asset class. That got my attention and I'm now taking the charts more seriously. * 7 Stocks to Buy in December Trading Hexo Stock Click to Enlarge Source: Chart courtesy of StockCharts.comAt the beginning of summer, cannabis stocks started to swoon. I flagged a few of these breakdowns, like Canopy Growth (NYSE:CGC) and Aurora Cannabis (NYSE:ACB), cautioning investors to be careful now that key support was giving way.I didn't expect it would lead to some of the declines we've seen since. Many of these names are down 60% to 70% from the highs, while Tilray (NASDAQ:TLRY) is down 90%. Ouch!However, most of these names are rebounding from the lows -- Hexo stock included. Like I said of CGC the other day, two developments are now critical for bulls. First, Hexo stock price must avoid making new lows. It was a panic collapse that sent shares down to $1.56.Bulls also need to see Hexo stock price clear downtrend resistance (blue line). Clearing the 50-day moving average would also open things up a bit on the charts. In short, we need to stop seeing lower lows, and starting seeing higher lows develop on the chart.We're unlikely to go from a sharp downtrend to a massive uptrend overnight. There will be setbacks along the way, but we need to see these two developments before we can trust Hexo.On the chart above, investors can also see that $2 has played a key role lately. Below it should put investors on caution for a possible retest of the lows. If it can hold above $2 a share, a test of its downtrend marks will be in the cards, as well as a possible push to $3. Let's keep an eye on Hexo stock. Bottom Line on Hexo StockDo the charts make Hexo stock a buy? In a word: no. The charts show that the situation is improving from a few weeks ago, but has not signaled the all-clear to investors just yet.So what about the fundamentals?Judging cannabis stocks based on the fundamentals is difficult. That's because many have triple-digit sales growth but low revenue figures. Further, most are not free cash flow positive or profitable, yet garner valuations in the billions.Because of the large correction this year, Hexo stock now sports a market cap of $527 million. Is that too much? Well… * 7 Exciting Biotech Stocks to Buy Now Last year, Hexo had net revenue of 47.3 million CAD ($35.9 million) and lost over 86 million CAD. Investors should know that profits have been elusive for this company.That's not necessarily a nail in the coffin, but companies that are sacrificing profits for growth need to have staying power via the balance sheet. With just 113.5 million CAD in unrestricted cash, some investors have to be nervous. That's even as current assets sit at 314 million CAD, compared to just 52.6 million CAD in current liabilities.But the acceleration in liabilities -- with total liabilities up to 104.3 million CAD last quarter from 17.3 million CAD three quarters ago -- and the negative cash flow is a concern. Hexo isn't the worst pick, but amid a cannabis comeback, I prefer Aphria (NYSE:APHA) and Canopy Growth stock, which have stronger balance sheets.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long APHA. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping * 6 Manufacturing Stocks to Buy as the Economy Recovers * The 7 Best Cryptocurrencies to Buy as Blockchain Heats Up The post Is the Right Move to Buy Hexo Stock Amid Cannabis Rebound? appeared first on InvestorPlace.
The bull case for Canopy Growth (NYSE:CGC) stock at this point essentially is that the market has overreacted. Cannabis plays have been hammered this year amid disappointing revenue growth and fears of cannabis oversupply. Canopy Growth stock hasn't been spared: it's down 65% from its late April highs.Source: Jarretera / Shutterstock.com But there are reasons why its near-term results have disappointed investors. One of those reasons looks particularly key. Health Canada, that country's cannabis regulator, has been slow to approve retail licenses. Especially in Ontario, Canada's most populous province, the retail infrastructure is lagging the industry's production capacity.That should start to change in 2020. Meanwhile, Health Canada is starting to approve licenses for so-called "Cannabis 2.0" products like vapes and edibles. The hope is that more retail locations selling more products will ease the industry's overcapacity. That, in turn,will boost the revenue and margins of Canopy Growth and other cannabis producers.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's an intriguing theory, particularly with CGC stock near its lows. But there are still valid concerns about Canopy Growth stock, even after its 60%-plus decline. And if Cannabis 2.0 can't fix Canopy Growth stock, it's difficult to see what can. The Rollout of Cannabis 2.0Last week, Canopy Growth unveiled its extensive Cannabis 2.0 portfolio.Canopy Growth is launching a broad lineup of vaping products. In partnership with Hummingbird Chocolate, Canopy is unveiling multiple chocolate products under several brands. * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping The company will release several beverages, including the trademarked Distilled Cannabis, a clear liquid made from whole cannabis flower. Its Tweed RTD (ready to drink) flavored beverages contain THC (tetrahydrocannabinol) and CBD (cannabidiol). Canopy will also offer sparkling water under its Quatreau brand, THC-heavy Deep Space carbonated beverages, and unflavored mixers.The release of such a broad portfolio highlights one of the reasons why many cannabis bulls have chosen Canopy Growth stock. The multi-billion dollar investment by Constellation Brands (NYSE:STZ,NYSE:STZ.B) in CGC last year gave it enough capital to lead the industry. Canopy's plans for Cannabis 2.0 suggest it has a real chance to do so. The Case for CGC StockMeanwhile, CGC's rivals have very real financial concerns. Aurora Cannabis (NYSE:ACB) continues to dilute its shareholders, but it still has a significant balance sheet problem. Hexo (NYSE:HEXO) has focused on edibles from the start, but it, too, needs to conserve its cash.Canopy has no such problems. Thanks to the Constellation investment, it still has 2.7 billion CAD in cash and investments. Cash burn has been an issue in recent quarters -- its cash balance shrunk over 400 million CAD in Q3 alone -- but that problem should moderate going forward.That balance sheet gives Canopy plenty of options. It can be aggressive on pricing, hoping to outlast its rivals. It could pick up assets down the line, assuming distressed companies look to sell themselves before (or after) going bankrupt.More broadly, bulls can argue that the problem with the Canadian cannabis industry is not a long-term issue. The slow pace of regulatory action has caused many of the sector's problems, including oversupply and lower-than-expected revenue.Those problems will be fixed: Canopy Growth's management projected after Q3 that supply and demand would return to balance by the middle of next year. And once that happens, optimism towards the worldwide cannabis sector will return. Few, if any, companies will be better-positioned for that opportunity than Canopy Growth. The Risks to Canopy Growth StockI'm sympathetic to that bull case, particularly with Canopy Growth stock below $20. But there are risks to CGC stock that are worth noting.First, Canopy Growth stock might be cheaper than it was, but it's not cheap. Even backing out cash net of debt, the company is valued at about $5 billion. That's roughly eight times the mean Wall Street 2020 top=line estimate.Second, it's not yet clear that Cannabis 2.0 will be the blockbuster for which bulls hope. Cannabis derivatives are expected to bring in new consumers, but consumers simply may not be interested in them.Meanwhile, CGC's competition will be intense, with the likes of Cronos (NASDAQ:CRON), Tilray (NASDAQ:TLRY), and many others similarly releasing edibles and vapes. There already are legitimate worries about Canopy's plans to be all things to all consumers, plans which so far haven't worked out. At the least, Canopy needs to execute much better than it has so far, and it has to do so without a permanent CEO in place. CGC's Margin ProblemFinally, Canopy Growth stock is significantly dependent on Cannabis 2.0 products at this point. If demand for pot derivatives doesn't materialize, the stock is in real trouble.The company's deal with Acreage Holdings (OTCMKTS:ACRGF) targets a U.S. recreational market that may not open up for years. The CBD opportunity in the U.S. looks less attractive after the struggles of the sector's leader, Charlotte's Web (OTCMKTS:CWBHF). International markets haven't changed much in the past 18 months.The long-running concern about CGC stock, and cannabis producers more broadly, is that production is going to be a low-margin, commoditized business. There's early evidence to suggest that indeed will be the case. If derivatives don't drive real revenue at high margins, the company's long-term profit outlook will drop even further.In other words, CGC stock remains a risky bet to make. And it's tough to make a compelling case as to why the bet should be made right now. CGC's execution has been weak. It has repeatedly missed its guidance. Stocks across the sector remain falling knives, and Canopy Growth stock is largely in that category.That said, I can see why cannabis bulls see CGC as attractive below $20. If its long-term opportunity is even close to what optimists believe it is, there's a path to a longer-term rally. That path requires the company's Cannabis 2.0 to be successful, meaning those products will likely define the performance of CGC stock next year.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping * 6 Manufacturing Stocks to Buy as the Economy Recovers * The 7 Best Cryptocurrencies to Buy as Blockchain Heats Up The post Cannabis 2.0 Highlights the Rewards a and Risks a of Canopy Growth Stock appeared first on InvestorPlace.