|Bid||5.71 x 0|
|Ask||5.74 x 0|
|Day's Range||5.69 - 6.08|
|52 Week Range||5.69 - 28.30|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) will host a conference call on November 13, 2019 at 8:30 a.m. EST to discuss Acreage’s third quarter 2019 results, which will be released after market close on November 12, 2019. A webcast will be available and can be accessed via the Acreage’s Investor Relations website http://investors.acreageholdings.com. A playback of the call will be archived on Acreage’s website for approximately 30 days.
“We are thrilled to share the news that Greenleaf Apothecaries has resolved its dispute with the Ohio Board of Pharmacy in a way that allows Greenleaf to open its remaining three dispensaries in Cleveland, Columbus, and Akron, while maintaining its relationship with Acreage Holdings. Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced Kevin Murphy, Chairman and Chief Executive Officer of Acreage, executed an open market stock purchase for 100,000 shares through the OTCQX on October 8th. The transaction, valued at approximately $685,000, was executed on the OTCQX open market on Tuesday, October 8th, 2019. Combined with his open market stock purchase in July, the number of shares purchased on the open market by Mr. Murphy total 254,000. “While cannabis stocks remain in turmoil, I have never been more optimistic with respect to the future of Acreage,” said Murphy.
Cannabis stocks turned mixed on Thursday, as the initial euphoria sparked by the U.S. House of Representatives vote in favor of a bill that would protect banks that serve the industry faded, as analysts cautioned that the Senate is unlikely to give it a thumbs-up -- and may not even vote this year.
“This evening saw a milestone moment for our industry with the overwhelming and bipartisan passage of the SAFE Banking Act by the House of Representatives,” commented Kevin Murphy, Chairman and CEO of Acreage. As an industry leader, we have been advocating for the SAFE Banking Act to help deliver it to them.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (0VZ.F) today announced its management team will attend two institutional investor conferences on October 3rd. On Thursday, October 3rd, Acreage management will host investor meetings and present at the conference.
Cowen analyst Vivien Azer initiated coverage Friday of five multi-state cannabis operators, saying she's bullish on those that rely on the consumer packaged goods model given the higher margins, especially relative to those relying on the retail model. Azer started Green Thumb Industries Inc. at outperform with a stock price target of $18.50, Curaleaf Holdings Inc. at outperform with a $10.50 target, and Cresco Labs Inc. at outperform with a $14 target. "We believe that the greatest shareholder value will be created through businesses that emulate a traditional CPG finished goods model, given its superior margin structure," Azer wrote in a note to clients. Meanwhile, Azer started MedMen Enterprises Inc. at underperform with a $1.50 price target. "[MedMen] is the clear leader in the [California] market, with a distinguished brand, reflecting an attractive retail concept," Azer wrote. "However, to us, retail is less attractive than wholesale. And, an over-reliance on retail revenues today, coupled with excessive spending and notable management turnover, make this a'show-me' story." Azer also started Acreage Holdings Inc. at market perform with a $9 target, saying consolidation a of a "disparate network of dispensaries" and launching a "nascent brand strategy" could prove challenging. The ETFMG Alternative Harvest ETF was up 0.4% in afternoon trading, but has lost 28.7% over the past three months, while the S&P 500 has gained 3.5% in three months.
President Trump recently suggested that his administration is taking a closer look at legalizing cannabis at the federal level, moving beyond merely letting the states decide what's right. Such a move would be good for Canopy Growth (NYSE:CGC), CGC stock and most importantly, the president's reelection hopes in 2020. Source: Shutterstock First, before I get into the heart of the matter, let me remind readers that this isn't a political dissertation, it's an investment piece. I could care less whether Trump thinks legalizing at the federal level is a vote-getter, which it is because I'm Canadian. I have no dog in this fight, politically or philosophically. Instead, I'm interested in what this would do for the U.S. cannabis industry, on a general level, and for Canopy Growth, more specifically.InvestorPlace - Stock Market News, Stock Advice & Trading TipsLet me address both. What Federal Legalization MeansOne only needs to read the comments after an article on the subject to know that most Americans are supportive of federally legalized cannabis. "That's [Trump's comments] signalling to the rest of his Republicans that you know what, it's basically okay to have a view around cannabis. The reason he is doing it is because in the United States 95 per cent of the country believes in medical cannabis, and 66 per cent believe in adult-use or recreational cannabis," said Acreage Holdings (OTCMKTS:ACRGF) CEO Kevin Murphy recently.Just 11 states and the District of Columbia have legalized recreational pot. A total of 33 have legalized medical marijuana. That leaves 39 states where recreational cannabis is illegal and another 17 states that don't allow medical marijuana. Under the current situation, pot can't be transported across state lines because cannabis isn't legal at the federal level. This means that if you want to sell in Colorado, you've got to make it in Colorado or buy it from a grower that does. State politicians love this set-up because it means local jobs, taxes, etc. * 10 Buy-and-Hold Stocks to Own Forever However, in a country of 325 million, it's an incredibly inefficient way to operate an industry. Could you imagine if a company like Wayfair (NYSE:W) had to live by the same rules? It can't make money as it is, and it's got one of the best logistics systems in retail. Here in Canada, we used to have similar rules in the beer business. Up until 1992, if you wanted to sell beer in Ontario, it had to be made in Ontario. That meant breweries were operating in every province in the country, including Prince Edward Island, which had a population of 130,827 at the time. The Canadian government finally came to its senses and removed those trade barriers. Well, you would think someone who is opposed to government regulations and red tape as Trump is, would see the inefficiencies of a system left up to the individual states.Why should a state like California, whose population is greater than all of Canada, not be able to provide California-grown pot to people living in Rhode Island? If it is a quality product at a reasonable price, you would think "Businessman" Trump would be all over that.I can see how raising the federal minimum wage would rankle some states used to operating lower-wage economies, but failing to legalize pot at the federal level is terrible business. Were the Republicans or Democrats to push for legalizing pot at the federal level -- a process that isn't nearly as easy as it seems -- before the November 2020 election, I believe that this move would motivate a lot of younger voters to get out to cast their ballot. Economically, it would be a boon to all stakeholders. How CGC BenefitsAs you might be aware, Canopy has a tentative deal in place to buy Acreage Holdings for $3.4 billion, but only if the production and sale of cannabis become federally legal. Further, the agreement has a seven-year window before the right to buy the company expires.For this right, Acreage shareholders received an immediate $300 million ($2.55 a share) cash payment as an incentive to wait for federal legalization. In the meantime, Acreage has licenses to produce cannabis in 20 states, 87 dispensaries and 22 cultivation and processing sites. It's a going concern that will continue to grow its business in the U.S. with Canopy lending its expertise, both in terms of growing the stuff, distributing it and building a wider audience. With Bruce Linton having left the company and a CEO search underway, it's a good thing that the Republicans haven't been talking up legalization because the company's controlling shareholder, Constellation Brands (NYSE:STZ), is still ensuring Canopy's ducks are all in a row. The fact that Trump's open to discussing the idea means a CEO hire is probably going to happen sooner rather than later. In the meantime, interim CEO Mark Zekulin is more than capable of running the show. The company's Sept. 4 presentation at the Barclays 2019 Global Consumer Staples Conference stated that Canopy could reach a revenue run rate of C$1 billion in the fourth quarter with its gross margin 40% or higher.Between the second-phase of Canadian legalization (edibles, infused drinks, concentrates), increasing its Canadian distribution at the retail level, international expansion outside North America, and of course, its U.S. push, which includes Acreage, hemp-related sales, etc., the new CEO is going to have their hands full. So, maybe, finding the right person isn't going to happen overnight after all. * 7 "Boring" Stocks With Exciting Prospects What I do know is that CCG benefits greatly from federally legalized cannabis. I'm sure the lobbying is going to intensify in the months leading up to the election. The Bottom Line on CGC Stock I believe that Canopy Growth is one of the best Canadian cannabis stocks available. However, to become a global player, it needs to be a part of the U.S. marketplace. The Acreage deal makes that a reality. Federal legalization is coming, but it can't get here fast enough. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 3 Artificial Intelligence Stocks to Buy * 7 Industrial Stocks to Buy for a Strong U.S. Economy * 3 Beaten-Down Bank Stocks to Buy and Hold for the Long Term The post Why the Future of Canopy Growth Stock Is in the Hands of the President appeared first on InvestorPlace.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (0VZ.F) today announced its management team will attend three institutional investor conferences, a leading cannabis industry conference and a summit aligned with United Nations Assembly Week in September of 2019. On Wednesday, September 4, Acreage management will attend the Barclay’s Global Consumer Staples Conference and will co-host an open Q&A session with executives from Constellation Brands, Inc. and Canopy Growth Corporation. MJBizConINT’L in Toronto, Ontario on September 5, Kevin Murphy will be joined onstage by Mark Zekulin, CEO, Canopy Growth to discuss The Future of Hemp and Cannabis in the Age of Consolidation beginning at 10:15 a.m. (EDT) in Hall F at the Metro Toronto Convention Centre.
NEW YORK, Aug. 13, 2019 -- Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ) reported financial results for the quarter ended June 30th, 2019..
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) announced that it has filed a (final) short form base shelf prospectus (the "Shelf Prospectus") with the securities regulatory authorities in each of the provinces of Canada, other than Quebec, Prince Edward Island and Newfoundland and Labrador, and a corresponding shelf registration statement on Form F-10 (the "Registration Statement") with the United States Securities and Exchange Commission (the "SEC") under the U.S. Securities Act of 1933, as amended. The Shelf Prospectus and Registration Statement allow Acreage to offer up to US$800,000,000 of subordinate voting shares (the “Subordinate Voting Shares”), debt securities, warrants, subscription receipts, units, or any combination thereof, from time to time during the 25-month period that the Shelf Prospectus is effective, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:OZV) today announced the launch of new cannabis consumer products in select markets as part of its “House of Brands” strategy – a portfolio of unique brands that address different consumer segments and form factors. The launch includes products from three new Acreage-developed brands: The Botanist, Natural Wonder, and Live Resin Project. The Botanist, a wellness brand devoted to unlocking the benefits of the full cannabis plant, expects to launch in Iowa this month with its first product, a line of high-CBD tinctures for the Iowa’s medical market.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced the hiring of Steve Hardardt as Executive Vice President, Chief People Officer and Administration (CPO). A human resources and operations executive with over 30 years of experience at such companies as Dow Jones, Inc., Frito-Lay, Inc., Monsanto, Inc., tw telecom and others, Mr. Hardardt will be responsible for leading Acreage’s Human Resources team to ensure the integration and implementation of HR strategy and programs with Acreage’s business objectives.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced the appointment of Gretchen McCarthy as Vice President of Retail Operations. Ms. McCarthy will be responsible for providing leadership and direction to Acreage stores across Acreage’s national retail portfolio, which includes licenses to open up to 88 dispensaries (including pending acquisitions) in the U.S. Ms. McCarthy will report to Chief Operating Officer, Robert Daino. As a seasoned executive in the cannabis space, Ms. McCarthy joins Acreage after previously serving as Vice President of Dispensary Operations and Development at Curaleaf Holdings, Inc. from 2017 to 2019.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced the appointment of Laurence Wolfe as Senior Vice President, Manufacturing and Distribution. A senior operations and supply chain executive with more than 20 years of experience leading brands in the food, media and alcohol industries, Mr. Wolfe will leverage Acreage’s industry leading 20-state footprint (including pending acquisitions) to build a world-class end-to-end supply chain (in compliance with applicable laws), develop strategic supply chain partnerships, and ensure customer excellence. Mr. Wolfe will report to Acreage Chief Operating Officer Robert Daino.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced the hire of Alfred Miranda as Senior Vice President, Chief Information Officer. A seasoned technology executive with over 18 years of experience, Mr. Miranda will lead Acreage’s business innovation initiatives by developing new go-to-market strategies and technologies, strengthening Acreage’s Information Technology infrastructure and IT policies, systems and standards to ensure the goals and needs of Acreage are fully supported and executed. Mr. Miranda joins Acreage after most recently serving as the Senior Vice President, Technology at MedMen Enterprises Inc., where he developed an integrated and compliant Seed to Sale Platform.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) will host a conference call on August 14, 2019 at 8:30 a.m. EDT to discuss Acreage’s second quarter 2019 results, which will be released on August 13, 2019. A webcast will be available and can be accessed via the Acreage’s Investor Relations website http://investors.acreageholdings.com. A playback of the call will be archived on Acreage’s website for approximately 30 days.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced Kevin Murphy, Chairman, and Chief Executive Officer of Acreage Holdings, executed an open market stock purchase for 154,000 shares through the OTCQX on July 12th. “With the downturn in industry stock prices recently, this was an opportunity to show investors that Acreage management is committed to creating long-term shareholder value,” said Murphy.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced the appointment of Rhonda Kratz as General Manager in the State of Florida, an incremental operation updates subsequent to Acreage’s first quarter earnings call and also disclosed the departure of Acreage’s Chief Marketing Officer. “We are excited to welcome Rhonda to the team as we begin to establish an aggressive Acreage footprint across the state of Florida," said Acreage Chief Operating Officer, Bob Daino.
SMITHS FALLS, ON and NEW YORK, June 27, 2019 /PRNewswire/ - Acreage Holdings, Inc. ("Acreage") (ACRG-U.CN) (ACRGF) (FSE:0ZV) and Canopy Growth Corporation ("Canopy Growth") (WEED.TO) (CGC) (together, the "Companies") are pleased to announce the implementation of Acreage's previously announced arrangement under section 288 of the Business Corporations Act (British Columbia) with Canopy Growth (the "Arrangement"). Pursuant to the Arrangement, the Acreage articles have been amended to provide Canopy Growth with the option (the "Canopy Growth Call Option") to acquire all of the issued and outstanding shares in the capital of Acreage (each, an "Acreage Share"), with a requirement to do so, upon a change in federal laws in the United States to permit the general cultivation, distribution and possession of marijuana (as defined in the relevant legislation) or to remove the regulation of such activities from the federal laws of the United States (the "Triggering Event"), subject to the satisfaction of the conditions set out in the arrangement agreement entered into between Acreage and Canopy Growth on April 18, 2019, as amended on May 15, 2019 (the "Arrangement Agreement").
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) is pleased to announce the implementation of its previously announced arrangement under section 288 of the Business Corporations Act (British Columbia) with Canopy Growth Corporation (“Canopy Growth”) (WEED.TO) (CGC) (the “Arrangement”). Pursuant to the Arrangement, Canopy Growth received an option (the “Canopy Growth Call Option”) to acquire all of the issued and outstanding shares in the capital of Acreage (each, an “Acreage Share”), with a requirement to do so, upon a change in federal laws in the United States to permit the general cultivation, distribution and possession of marijuana (as defined in the relevant legislation) or to remove the regulation of such activities from the federal laws of the United States (the “Triggering Event”), subject to the satisfaction of certain conditions.
On June 21, 2019, Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) obtained a final order from the Supreme Court of British Columbia approving the previously announced arrangement under section 288 of the Business Corporations Act (British Columbia) with Canopy Growth Corporation (“Canopy Growth”) (WEED.TO) (CGC) (together with Acreage, the “Companies”) (the “Arrangement”). On June 19, 2019, each of Acreage and Canopy Growth received all necessary shareholder approvals in connection with the Arrangement at their respective special shareholder meetings.