|Bid||9.60 x 28000|
|Ask||9.61 x 900|
|Day's Range||9.54 - 9.87|
|52 Week Range||4.05 - 12.52|
|Beta (3Y Monthly)||2.27|
|PE Ratio (TTM)||44.49|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
CALGARY , March 21, 2019 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (HITI.CN) (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, subject to the approval of the Alcohol and Gaming Commission of Ontario (the "AGCO"), it has been selected to assist with establishing and operating a retail cannabis store by a third winner of one of only 25 opportunities to apply for an operator's licence (the "Third Winner") as a result of the AGCO's Expression of Interest Application Lottery conducted on January 11, 2019 (the "Lottery"). Subsequent to previously announcing that High Tide had been selected to assist two other Lottery winners, the Third Winner acknowledged its need for support and chose High Tide to help open a retail cannabis store at a proposed location in Toronto, Ontario .
Aurora Cannabis Inc. (ACB) closed at $9.80 in the latest trading session, marking a -1.61% move from the prior day.
Shares of Aurora Cannabis (NYSE:ACB) have been soaring lately, up 25% in just a few trading sessions. Because of this giant move, investors are wondering if now's the time to get in on ACB stock or if a 25% rally means they missed their chance.Source: Shutterstock What's the verdict?I wouldn't say there's no upside left, but the risk-reward profile has certainly muddied. Unfortunately, investors who are suffering a case of FOMO -- a "fear of missing out" -- have no reason to be. There was ample time to buy this name, even after the big rally.InvestorPlace - Stock Market News, Stock Advice & Trading TipsLet's look at the charts to see why. Trading ACB Stock Click to Enlarge There are so many choices in the investing world that I do not like to be a "told you so" person. Meaning that even studious followers of the stock market can't act on everything they see and read. In the case of ACB stock, though, perhaps investors can extract a lesson. * 7 Video Game Stocks on Steep Discount Notice how the stock gapped higher by about $1 per share last week, closing near $9 after previously closing near $8. Many would argue that this ~12.5% gain was simply too much of a rally and they'd have to move on to something else. I needed to see how ACB stock would trade over the next few days, too, as I don't want to chase a double-digit move.The next day ACB stock put in an "inside day." That's where a stock's daily range trades within the range of the prior day. Notice on the chart above how the second candle following the big gap-up candle is within its range? After a big rally like this, that's a great consolidation pattern that bulls want to see. It shows that longs aren't winning to sell and shorts don't have enough "oomph" to drive it down.The next day, ACB stock began what looked like another inside day, before rocketing higher. In other words, this price action allowed investors to hop on before an 11% move higher.So what now?Shares of Aurora Cannabis stock are stretching into overbought territory. However, that does not mean it cannot continue higher. I wouldn't mind seeing how ACB stock does over the next few sessions and if we get a slight pullback before moving higher again.Keep in mind, ACB stock has breached $12 more than once in the past 12 months. Perhaps it's on its way of doing it a third time. Valuing Aurora Cannabis StockSo what got Aurora Cannabis stock rallying so strongly anyway? The company brought activist investor Nelson Peltz on board to advise on partnerships and global expansion.They didn't pick a bad advisor, either. Peltz has a long list of contacts and the hedge fund manager is a master in the consumer packaged goods space. Whether this leads to a partnership with a well-known blue-chip company or not remains to be seen. But adding him in this role certainly doesn't hurt Aurora's chances.That said, we're still very much in the "land grab" phase of the cannabis market. While growth is impressive -- as ACB stock grew sales 339% year-over-year last quarter -- the valuations do not support these names. For instance, while revenues more than quadrupled last quarter, sales came up just short of $39 million. With a $10 billion valuation, that growth better continue for some time in order for it to be justified.But if there wasn't an opportunity here, we wouldn't have Constellation Brands (NYSE:STZ) taking a multi-billion stake in Canopy Growth (NYSE:CGC) or Altria (NYSE:MO) doing the same thing with Cronos Group (NASDAQ:CRON). There's money to be made and an opportunity to be had with states and countries legalizing marijuana, both for medical and recreational use.That said, it's not a short-term or risk-free endeavor for investors.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long CGC. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Invincible Stocks Leading The Bull Market Higher * 5 Dow Jones Stocks Coming to Life * 7 of the Best High-Yield Funds for 2019 and Beyond Compare Brokers The post Did You Miss Your Chance to Buy Aurora Cannabis Stock? appeared first on InvestorPlace.
The cannabis industry is unique from other sectors in the market, meaning that getting financially involved tends to look a little different. Leafbuyer Technologies Inc (OTC:LBUY), Aurora Cannabis Inc (NYSE: ACB, TSX: ACB), Shineco Inc (NASDAQ:TYHT), and New Age Beverages Corp (NBEV) represent 4 marijuana stocks leading Wednesday's bull charge. Nowadays, consumers depend on online resources to research the products they are interested in buying and, prior to Leafbuyer's platform, there hadn't been a reliable source for information on cannabis and related products.
So far, 2019 has been good to Cronos Group (NASDAQ:CRON). Its share price has more than doubled this year. And the CRON stock gains make some sense.Indeed, as I wrote in December, the $1.8 billion investment in CRON stock by Altria (NYSE:MO) seems to be a game-changer. Among cannabis stocks, only Canopy Growth (NYSE:CGC), with $4 billion in hand from its deal with Constellation Brands (NYSE:STZ), looked to be in a stronger financial position. And yet, amid a market sell-off, investors largely shrugged at Cronos Group stock.That's changed in 2019, obviously, and perhaps it's changed a little too much. I still believe CRON stock needs to settle down. And I'm not alone. Wall Street has turned notably bearish on the shares in recent weeks. Ahead of Cronos Group earnings next week, those analysts might have a point.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cautious Turn on CRON StockAs MarketWatch pointed out last week, the Street on the whole actually sees downside ahead for CRON shares. Some 11 analysts on average have a target price of $20.30, or 6.6% below current levels.And recent coverage hasn't been all that positive. Per MarketWatch, BMO Capital Markets downgraded CRON to underperform. Analyst Tamy Chen pointed out that CRON trades at 80x EBITDA estimates -- two times the multiple sported by Aurora Cannabis (NYSE:ACB) and higher than Canopy Growth.Chen isn't alone. GMP Securities cut Cronos to hold earlier this month. Cowen (NASDAQ:COWN) initiated at neutral. Jefferies Financial Group (NYSE:JEF) began its coverage of Cronos Group stock with an underperform in late February (though CRON stock rose anyway). * Top 7 Service Sector Stocks That Will Pay You to Own Them To be sure, the Street isn't as always right. And even bearish analysts -- including the team at Jefferies -- have pointed to a massive opportunity in both recreational and medicinal cannabis.But for investors looking for the best cannabis play, it's worth noting that the analysts aren't just focused on valuation. BMO has pointed out that Cronos is trailing other Canadian producers in building out capacity. According to Yahoo! Finance, Jefferies cited concerns about when, exactly, Cronos would spend the funds from Altria -- and how much support the tobacco giant would give the pot producer in the early going.While it's easy to dismiss analyst concerns -- and, again, it's far from guaranteed that the Street is correct -- the factors driving the downgrades should be given some consideration. This isn't a case of analysts simply hollering about near-term valuation metrics, or arguing that cannabis stocks represent some sort of bubble.The common thread in recent coverage isn't that Cronos Group is failing or that it has no opportunity. Rather, the worry is that the company isn't moving fast enough in an industry where being a first mover increasingly looks like a key advantage. Earnings and Cronos Group StockIt's not just analysts who are making that point. InvestorPlace contributor Luke Lango made the case last month that Canopy Growth, not Cronos, was the best play in cannabis. One reason: CGC stock is actually cheaper on a per-kilogram basis.That can change if Cronos ramps production and puts its Altria funds to work. So far, however, that hasn't quite been the case. In fact, the company earlier this month swapped its shares of privately held Whistler Medical Marijuana for shares in Aurora Cannabis. That deal highlights the difference between the two companies. * 15 Stocks That May Be Hurt by This Year's Big IPOs Aurora's strategy clearly is to take as many shots at as many opportunities as possible in the shortest amount of time. With that strategy, it's possible that Aurora is taking on too many projects. But in a fluid market (from both a competitive and regulatory perspective), and one with multiple products (recreational, medical, CBD, edibles, etc.), Aurora is trying to gain exposure to as many markets as possible.Cronos doesn't have to take the same path as Aurora. But with the stock near the highs -- and triple late November levels -- it's going to need to show something with earnings next week. That may be discussion of what exactly it plans to do with its $1.8 billion in newly received cash. It may be clarity on Altria's role. (Note that Altria's senior director of corporate strategy is joining Cronos as chief financial officer, perhaps a step in the right direction.) It may be talk of additional M&A, after a huge win on the Whistler deal. (Cronos appears to have invested CAD$4 million [$3 million] in the company - and received C$175 million in Aurora stock.)Whatever it is, with the highest valuation in the cannabis stock, the status quo isn't enough. Cronos needs to post an impressive earnings report next week -- and not just in the numbers. Rather, the company needs to convince investors that it can take advantage of its cash, and put that cash to work to drive growth. It won't be easy - and at these prices, expectations are going to be high.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Who's Made The Right Call On Cronos Group Stock? Altria or Analysts? appeared first on InvestorPlace.
The fact that Tilray posted a GAAP net loss of $0.33 per share versus expectations for a loss approximately half that size appears to be neither here nor there at the moment. In the case of Tilray, the company paid $317 million to bring in Manitoba Harvest.
We often hear jokes about the lofty valuations of cannabis stocks. They have huge market capitalizations with only a tiny fraction of them in actual revenues. Tilray (NASDAQ:TLRY) is perhaps the poster child for that joke since its short squeeze that occurred last September. Then Tilray stock skyrocketed to $300 per share in a day, but only to perhaps mark the absolute top forever.Source: Shutterstock First, let me assure you that I am not a perma-bull on pot stocks. Yes, I only trade them from the long side, but I use the technicals to guide my decisions. A few weeks ago, I shared a long entry opportunity in Tilray stock and it paid quickly.This morning, the stock is spiking and there could be another setup looming.InvestorPlace - Stock Market News, Stock Advice & Trading TipsLast night, TLRY reported earnings and investors are happy with what they saw because TLRY stock is spiking on the headline. But in classic TLRY fashion, the knee jerk reaction last night was violent as the stock fell $5, then rallied at $4. This morning, it is still holding in the green up 3%.The results were mixed as management beat the sales expectations but also reported some extra expenses. For now, this is something Wall Street should ignore for as long as TLRY is a growth stock.If this were a mature company, then investors can demand tighter profit controls, but this is a situation where the cannabis companies are plowing into completely new territory so they deserve a lot of leeway, more so than usual in fact. * The 10 Best Stocks to Buy for the Bull Market's Anniversary The cannabis industry is still in its infancy on Wall Street. Even the so-called experts rely more on hunches and guessing to forecast the fundamentals. So perhaps until there is enough history to establish tangible expectations, I greatly rely on the technicals to guide me. Charts don't lie and they outline the trends and important levels.However, relying on charts doesn't mean I completely dismiss the importance of the company metrics. Perhaps the most important one that TLRY reported last night was that it sold 2,053 kilos, which is three times that of last year. This combined with a 110% increase in revenues for the same period, which tells me that the company is executing well on its growth plans.TLRY's Chief Executive Officer Brendan Kennedy explained away the margin pressures by highlighting the expansion of its facilities. The company added seven new facilities, so the ramp-up time will keep profitability at odds until the revenues catch up to the expenses. Overspending is the necessary evil that growth companies have to endure.Meanwhile, they maintain a relatively healthy balance sheet with $500 million in cash. This will ensure that they are able to pursue their next focus areas in the U.S. and Europe. This is not only by targeting the recreational legalization trends, but this also includes making the CBD and medical applications. Bottom Line on Tilray StockIn short, the company is succeeding in its mission, so Tilray stock should have more upside potential in the long run. Those who want to bet on its success for years to come need not worry about the minutia of action here. Moreover, they are not going at it alone. Management struck a partnership with Anheuser-Busch InBev (NYSE:BUD), which validates TLRY's efforts in my opinion. If it's good enough for a massive company like BUD, then it's good enough for the general investor.Meanwhile, for those who prefer to trade the stock short term instead, the technicals can definitely provide a road map.Year-to-date, TLRY stock came into the earnings event only up 2.4% compared to the S&P 500's 12% for the same period. Clearly, the stock is stuck below $80 per share since December. Even worse is how TLRY compares to Canopy Growth (NYSE:CGC), Cronos (NASDAQ:CRON) and Aurora Cannabis (NYSE:ACB), which are up 70%, 108% and 100%, respectively, for the same period. * 7 Financial Stocks to Invest In Today The overnight bounce in Tilray stock brought it into potential resistance. The area around $76 to $78 per share has been pivotal for months. This usually creates resistance as both bulls and bears want to win the battle there. In January, the TLRY bulls were able to over come it, but only for a few days. Unlike the stock market in general, TLRY has failed to recover the ledges from which they crashed into the Christmas correction.Specifically, $77.50 is my area of interest. If they close TLRY above it and successfully retest it for footing, I'd consider it an opportunity to trade the upside potential to recover the January highs. But even then, there are areas of resistance here and at $82 per share. So I would need to see a clear breach of the first line of resistance before I chase it long.As for support, the bears could get more of an upper hand if they can break through $70 per share. Oddly enough, Tilray stock retested its December lows just a few days ago. This is happening while the S&P 500 is still on a tear. The wound is still fresh. Below it, there is a trap door to the mid-fifties. This is not a forecast, but merely one of the available scenarios at hand.It is best to wait for the break out from the zones noted before chasing either the upside or the downside potentials.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Why Tilray Stock Is Still Worth a Look Despite Earnings Flop appeared first on InvestorPlace.
Over the past few years, few companies have been as active in the cannabis space with respect to merger and acquisition activity as Aurora Cannabis (ACB) has been. A review of their strategic acquisitions and partnership is key to assessing value both at the current share price and in the future. Based on their most their most recent Q2 filings as of December 31, 2018 their investment related assets are as follows:Marketable Securities: $116.7M Investments in associates and joint ventures: $ $131.9M Derivatives & convertible debentures: $69.4M Short-term investments: $1.2MIn addition to the above, approximately $3 billion of goodwill has been recorded.One of the more interesting holdings of ACB investment portfolio and how it will impact the execution of its retail strategy is Choom Holdings (CHOOF). There has been some notable activity in Choom’s retail location rollout as of late which warrants a review of ACB’s investment and how it impacts the company in the future. In June 2018, ACB completed two transaction relating to CHOO. They initially acquired approximately 8% of Choom for $0.71 per share. They followed up this investment shortly after and acquired $20M worth of convertible debentures at $1.25 per share of in a private placement (maturing in four years). This also included an option to purchase 40% of the company at $2.75 per share which expire on November 2, 2020. As at March 15, 2019, the share price of CHOO close at $0.69 per share meaning their initial investment is essentially unchanged and their warrants are still fairly deep out of the money.From a strategic perspective, Choom’s 17 initial retail licenses throughout Alberta and their ability to grow in western Canada, appeared to be the initial focus of the transactions from ACB’s standpoint. Choom has been busy of late and it seems that they are executing their growth strategy to the liking of ACB’s initial vision. ACB CEO Terry Booth specifically noted “Choom has demonstrated a strong commitment to rapidly executing its strategic growth plans by developing a sophisticated retail channel across Western Canada while diversifying their operations through further expansion into Ontario.” Last month Choom entered into a LOI with an Ontario Cannabis retail store applicant which would provide a strategic diversification away from their primarily Western Canada presence. In a more complementary transaction to their core geographic business, on February 27, 2019, Choom entered into an agreement to acquire Clarity Cannabis which operates in Alberta. This purchase adds an additional 30 locations to the ACB/Choom portfolio.At this point in time, this investment seems to have complemented ACB’s investment portfolio well at a relatively smaller price then some of its other investment/partnership transactions. Choom has expanded their national footprint and their share price has recovered back to near the original investment of $0.71 per share. The real unknown is if the convertible debentures will provide a satisfactory return to ACB. If Choom continues to execute and the market rewards its share price, the opportunity for ACB to control own 40% of the company long-term could be very rewarding in its quest to scale buildouts and achieve organic growth.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. More recent articles from Smarter Analyst: * Last Minute Thought: Buy or Sell Micron (MU) Stock Before 2Q19 Report? * Apple (AAPL): iMac Update Should Not Affect the Stock Negatively -- Here's Why * There’s a Lot to Like About AMD Stock, But Don't Buy Into the Google Hype * A Big Week for Cannabis Stocks as Tilray (TLRY) Posted 110% Revenue Growth
With more than a dozen cannabis cultivation facilities, Aurora has established itself as the clear top grower.
HENDERSON, NV / ACCESSWIRE / March 19, 2019 / From a dirty little secret to one of the fastest growing industries in the world, cannabis has come a long way. As more states are legalizing medical marijuana ...
Aurora's relationship with the billionaire investor could be a bigger win-win proposition than you might think.
U.S. stock futures are trading mixed in early morning trading. Pre-market weakness in Boeing (NYSE:BA) is weighing on the Dow Jones Industrial Average, while the other major U.S. Indexes are circling unchanged.The Dow is down 0.19% and S&P 500 futures are higher by 0.04%. Nasdaq-100 futures have shed 0.02%.Options expiration lit a fire under trading activity on Friday, with call volume winning the day by a large margin. Specifically, about 23.4 million calls and 18.4 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe call surge slammed the CBOE single-session equity put/call volume ratio down to 0.57 - roughly the middle of its 2019 range. Meanwhile, the 10-day moving average once again remained sticky at 0.65.Here were three stocks that commanded the attention of call lovers. Aurora Cannabis (NYSE:ACB) tacked on additional gains to its recent Peltz-inspired breakout. Oracle (NYSE:ORCL) swooned and then soared after reporting earnings. Finally, Microsoft (NASDAQ:MSFT) was flooded with activity as it rocketed to a new record high.Let's take a closer look: Aurora Cannabis (ACB)Recent news that Aurora Cannabis nabbed Nelson Peltz as a strategic advisor continues to benefit its stock price. ACB shares rallied another 6.9% on Friday amid optimism that the billionaire activist investor will help accelerate the company's expansion. * 7 Small-Cap Stocks That Make the Grade If its entrance into the new year is any indication, 2019 is setting up to be a banner year. ACB stock is already up 93% year-to-date, and its price action has been tremendously healthy.While the stock could do with some digestion after such a meteoric run over the past week, any dips should prove buyable.On the options trading front, traders came after calls with a vengeance. Activity ballooned to 305% of the average daily volume, with 167,036 total contracts traded. An impressive 81% of the tally came from call options alone, showing just how dominating bulls were on Friday.Implied volatility remained subdued, hovering at 75% which is near the lower end of its range. Oracle (ORCL)Oracle shares saw a volatile session after reporting earnings that surpassed the Street's estimates. For the third quarter, the tech giant raked in earnings of 87 cents per share on $9.61 billion in revenue. The EPS metric beat expectations by 3 cents while revenue essentially met them.Shareholders will be happy to note the company decided to increase their quarterly dividend payouts from 19 cents to 26 cents.ORCL gapped lower on the day, but buyers emerged to bid the stock back to unchanged on the day. The rapid upside reversal proves buyers' willingness to defend the uptrend and should bode well for the stock going forward.On the options trading front, Oracle was the second most active stock in the market. Activity climbed to 522% of the average daily volume, with 119,866 total contracts traded. Calls accounted for 61% of the total.The post-earnings volatility crush was particularly potent, with ORCL ending essentially unchanged on the day. Implied volatility fell to 18%, placing it at the 6th percentile of its one-year range. Premiums are now pricing in daily moves of 61 cents, or 1.2% per day. Microsoft (MSFT)The fourth-quarter beatdown in Microsoft is all but a distant memory. On Friday, the sultan of software notched a new closing high at $115.91. It's also on a six-day winning streak. Volume surged to 54.6 million shares which is roughly double the daily average.With the breakout, MSFT stock is firmly positioned for more gains. It's effectively spent the past six months in pause mode. Consider the multi-month base a sound foundation for MSFT to build its next bull run on.Not surprisingly, the burst to record highs buoyed up options trading with calls leading the way. Activity ramped to 214% of the average daily volume, with 277,248 total contracts traded. Calls added 65% to the sum.The increased demand drove implied volatility slightly higher on the day to 18%. Still, it remains at a lowly 3rd percentile of its one-year range, so fear and uncertainty has all but abandoned MSFT stock. Premiums are now baking in daily moves of $1.34 or 1.2%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 of the Best Stocks to Buy Under $10 * 7 Single-Digit P/E Stocks With Massive Upside * 7 Best Quantum Computing Stocks Trading Today Compare Brokers The post Monday's Vital Data: Aurora Cannabis, Oracle and Microsoft appeared first on InvestorPlace.
"This assumes full U.S. federal legalization, full recreational and medical legalization across Europe, full medical and recreational legalization across Lat Am, and cannabis disruption of a number of other industries," noted the analysts, as quoted by Yahoo Finance. "Consumers will continue to look to cannabis products over alcohol for occasions when they are feeling creative, need to get motivated, or seeking health, medical or wellness benefits," notes a recent study from ISWR and BDS Analytics, as noted by FoodBev Media.
CVS has announced it will begin to sell topical CBD products at stores in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee. Yahoo Finance’s Dan Roberts, Akiko Fujita, Sibile Marcellus, and Alexis Keenan talk about the pharmaceutical chain’s decision to go green.