7.74 +0.08 (1.04%)
Pre-Market: 8:54AM EDT
|Bid||7.73 x 3200|
|Ask||7.82 x 4000|
|Day's Range||7.60 - 7.82|
|52 Week Range||3.75 - 16.86|
|Beta (3Y Monthly)||4.16|
|PE Ratio (TTM)||25.62|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Cannabis stocks were mostly lower Thursday, with Valens GroWorks and Hexo Corp. bucking the trend after announcing a partnership, and Cresco Labs boosted by a bullish analyst note.
Green Growth Brands Inc.'s bid to acquire Canadian marijuana company Aphria Inc. expired Thursday afternoon, and Aphria will receive $89 million. Green Growth, a U.S. pot company funded by a billionaire family in Ohio, originally made the all-stock offer at the end of last year. "We are pleased to have this resolved in a favorable manner," Aphria's interim Chief Executive, Irwin Simon, said in a statement. The two sides had agreed earlier this month to accelerate the expiration and settled on the payment, which comes from Green Growth repurchasing its shares.
LEAMINGTON, ON, April 25, 2019 /PRNewswire/ - Aphria Inc. ("Aphria" or the "Company") (TSX: APHA and NYSE: APHA) today announced that the previously announced take-over bid (the "Offer") by Green Growth Brands Inc. ("GGB") has failed to meet the statutory minimum tender condition and has now expired and is terminated. As previously announced on April 15, 2019, the Company entered into a definitive agreement with GGB to accelerate the expiry date of the Offer to April 25, 2019, as well as to terminate certain arrangements with GA Opportunities Corp. ("GAOC") for consideration of $89.0 million payable on future dates as set out in the April 15th press release. Irwin D. Simon, Aphria's Chairman and Interim Chief Executive Officer stated, "We are pleased to have this resolved in a favourable manner.
Canadian cannabis company Aphria Inc (NYSE: APHA) said Tuesday evening it closed a convertible senior note offering raising $350 million in gross proceeds, including the exercise of the over-allotment option. The initial offering was valued at $300 million, but initial buyers also exercised their option to purchase up to an additional $50 million principal amount of notes in full. The sale of additional notes under the over-allotment options is expected to settle on April 26.
CORAL GABLES, FL / ACCESSWIRE / April 24, 2019 / Marijuana Stocks took a brief but much-needed breather on April 23, 2019. This trend has been clearly observed from some of the key players in the cannabis industry. Today we are highlighting: Aurora Cannabis (ACB), Canopy Growth (CGC) (TSX:WEED.TO), Aphria (APHA), Innovative Properties Inc. d/b/a Nabis Holdings (INNPF) (NAB.CN).
NEW YORK, NY / ACCESSWIRE / April 24, 2019 / The Cannabis industry is going through a major acquisition-consolidation phase. Over the past couple of years we have seen the cannabis industry grow like wildfire. While some have been slow to make changes, only allowing limited medical research or hemp farming (non-THC) exclusively, others have jumped head first, allowing everything including recreational marijuana use.
Cannabis stocks were mostly lower Tuesday, as investors took a breather after Monday’s gains to lock in profits and await the next developments in the sector.
LEAMINGTON, ON, April 23, 2019 /PRNewswire/ - Aphria Inc. ("Aphria" or the "Company") (TSX: APHA and NYSE: APHA) today announced it has closed its offering of 5.25% convertible senior notes due 2024 (the "notes") for gross proceeds of US$300 million in a private placement to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Act"), and outside the United States to non-U.S. persons in compliance with Regulation S under the Act. On April 23, 2019, the initial purchasers exercised their option to purchase up to an additional US$50 million principal amount of notes in full, resulting in gross proceeds of US$350 million. Aphria intends to use the net proceeds from this offering to support its international expansion initiatives, for future acquisitions and for general corporate purposes, including working capital requirements, in jurisdictions where federally and nationally legal.
Are marijuana stocks on U.S. exchanges a good buy now? The marijuana industry gets a lot of hype, but look past the smoke and analyze pot stocks on their fundamentals and technicals.
CALGARY , April 23, 2019 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (HITI.CN) (HTDEF) (2LY.F), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced approximately $441,000 in systemwide gross revenues ("Sales") from April 19th to 21st, 2019 , which is a 234% increase over the $132,000 reported for the same three-day period in 2018. This record result was generated from the Company's 13 Canna Cabana-branded stores including the two partnered Ontario locations in Hamilton and Sudbury that opened on April 20th , from its 13 Smoker's Corner locations across Canada , as well as from the Grasscity, Famous Brandz and Smoker's Corner e-commerce websites.
CORAL GABLES, FL / ACCESSWIRE / April 22, 2019 / Investors should be paying close attention to the cannabis industry right now. Currently, recreational marijuana is now legal in 10 US states & medical marijuana is legal in 33 US States. Today we are highlighting: Canopy Growth Corporation (CGC) / (TSX:WEED.TO), Aphria Inc. (APHA), Aurora Cannabis Inc. (ACB), Leafbuyer Technologies, Inc. (LBUY).
Even in a space with as much excitement as marijuana stocks, Aphria (NYSE:APHA) stood out for having as much drama as a cable TV show. If you're a trader, APHA stock has been a dream lately. The stock rocketed from $8 to $16 in a month last summer. It then lost as much as 75% of its value, plummeting to $4, after a series of short seller reports. Since then, the stock has bounced 150% off the lows to return to the $10 level, before earnings sent it falling once more.Source: Shutterstock After all the excitement, what's next for APHA stock? And have the company's recent moves made it investable again, or is Aphria only appropriate for the most steel-nerved traders? Fallout From the Bearish Short Seller's ReportsA few months ago, short sellers hit APHA stock with heavy fire. Bearish analysts published reports suggested that Aphria's management had engaged in unscrupulous behavior.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe short sellers suggested that Aphria was engaged in all sorts of questionable if not worse activity. The short sellers said that the company had bought phantom assets in Latin America, engaged in various double-dealing and related party transactions, and numerous other red flags.Aphria's board of directors engaged an independent special committee to investigate the accusations. The special committee found some troubling factors, but its results also exonerated the company in various ways. Arguably the most important finding was that the committee confirmed that Aphria's Latin American assets in fact exist and are progressing toward commercial activity. * 7 Tech Stocks With Too Much Risk, Not Enough Upside The committee suggested that Aphria paid near the top end of a reasonable price range for the assets, but that there is a real business there, unlike the short seller's reports which had claimed these transactions were largely imaginary. New Management for APHA StockHowever, Aphria wasn't blameless either. The board disclosed that: "it appears that certain of the non-independent directors of the Company had conflicting interests in the Acquisition that were not fully disclosed to the Board."Probably in conjunction with that, Aphria has seen major management changes. Former Aphria CEO Vic Neufeld has stepped down, as well as Co-founder Cole Cacciavillani. Neufeld in particular was implicating in several of the alleged misdeeds that the short sellers identified.In his place, Aphria has appointed an interim CEO. Irwin Simon is now in charge, at least for the time being. Simon led Hain Celestial (NASDAQ:HAIN) for more than two decades, helping that company take a dominant position in the natural and organic foods space. While it is obviously a weak spot for Aphria not to have a permanent CEO in place yet, Simon seems to have capable hands to manage the company while it recovers from the reputational blows it suffered recently. Aphria Has a Rough Earnings ReportAs William White pointed out, Aphria plummeted on April 15 after an earnings report "with losses per share of 20 Canadian cents. This is a drop from the company's earnings per share of 8 Canadian cents from the same time last year. It was also bad news for APHA stock by missing analysts' losses per share estimate of 4.5 Canadian cents for the quarter."Revenue was up, but overall sales numbers fell. The market was unimpressed, and the stock is now down around 24% since the report.Back in December, new upstart cannabis firm Green Growth Brands (OTCMKTS:GGBXF) bid to acquire Aphria. This was a highly unusual deal for several reasons. Among them, Green Growth brands itself had just gone public as the merger of several other firms. Additionally, Aphria had a significantly larger market cap than Green Growth, making it a rather odd target for a takeover offer.After the earnings tumble, Green Growth stepped away from their takeover attempt. It may be good for Aphria that another element of uncertainty is gone, but it's hardly unequivocal good news overall. APHA Stock VerdictIt's good that Aphria has cleaned house. That was a necessary and important first step in recovering the market's trust in Aphria going forward. But there's still a lot to be uncertain of.Particularly in a market where so many of the big leaders in the space have deals with credible partners, it's easy to take a pass on APHA stock. Cronos (NASDAQ:CRON) has Altria (NYSE:MO) while Canopy Growth (NYSE:CGC) has partnered with Constellation (NYSE:STZ). Meanwhile, Aurora (NYSE:ACB) doesn't have a major partner yet, but its management team hasn't given us any big reasons to doubt its credibility either.The marijuana stock sector is the Wild West right now. Many of the companies out there are going to crash and burn in coming years. Aphria's efforts to clean up their act are appreciated. But in such a risky sector, at least for the time being, it's advisable to stick to more trustworthy leaders in the cannabis space.At the time of this writing, Ian Bezek owned MO stock. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Stocks With Too Much Risk, Not Enough Upside * 7 Companies That Are Closing the CEO-Worker Wage Gap * 7 Video Game ETFs That Will Make You a Winner Compare Brokers The post After the Drama, Where Is Aphria Headed Now? appeared first on InvestorPlace.
HENDERSON, NV / ACCESSWIRE / April 22, 2019 / Bank of America analyst, Christopher Carey, has begun coverage of the cannabis industry with a note Wednesday naming Hexo Corp. (HEXO) as the firm's top pick ...
CALGARY , April 22, 2019 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (HITI.CN) (HTDEF) (2LY.F), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that it has closed the first tranche of the sale of unsecured convertible debentures (the "Debentures") of the Company under the non-brokered private placement (the "Offering") previously announced on April 10, 2019 , with gross proceeds of $8,360,000 to date. High Tide intends to close a second and final tranche of the Offering for aggregate gross proceeds of up to $15,000,000 , which has been increased from the original amount of $10,000,000 due to strong investor demand. The outstanding principal amount under the Debentures is convertible at any time before maturity and at the option of the holder, into common shares of the Company (the "Shares") at a conversion price of $0.75 per Share.
Nabis, a California's cannabis distributor, has raised $4 million during their second round of financing. This follows their seed round last summer when they raised $1.25 million from Silicon Valley's elite investors, bringing the total amount raised to $5.25 million since its inception in 2017. Aphria (TSX: APHA) (NYSE: APHA) said that its German subsidiary Aphria […]The post Cannabis Stock News Daily Roundup April 22 appeared first on Market Exclusive.
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LEAMINGTON, ON, April 18, 2019 /PRNewswire/ - Aphria Inc. ("Aphria" or the "Company") (TSX: APHA and NYSE: APHA) today announced that its German subsidiary Aphria Deutschland GmbH ("Aphria Germany") has secured the previously announced license for the domestic cultivation of medical cannabis from the German Federal Institute for Drugs and Medical Devices ("BfArM"), following the conclusion of a mandatory 10-day standstill period for public contracts. Aphria was granted a cultivation license for four of the nine total lots awarded by BfArM and is awaiting the completion of the tender process for the four remaining lots under review, one of which was provisionally awarded to Aphria Germany.