|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.30 - 8.99|
|52 Week Range||3.40 - 19.87|
|PE Ratio (TTM)||60.29|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Unlike its southern neighbor, Canada legalized medical marijuana nationwide back in 2001. Further, Canada introduced the Cannabis Act recently and the bill to legalize recreational pot use is expected to pass by July of 2018. Not so in the U.S., where the immediate future for legal weed is in question, after Attorney General Jeff Sessions overturned an Obama-era law that protected states choosing to liberalize legal marijuana laws.
In its fiscal 3Q18 earnings release, Aphria (APHQF) stated that its Aphria Diamond project remains on track. This project is expected to retrofit 1.3 million square feet of space to grow cannabis, and the first sale from this project is expected to commence in January 2019.
Previously in this series, we discussed Aphria’s (APHQF) year-over-year growth in EPS (earnings per share) in fiscal 3Q18.1 Much of the company’s gain in its earnings growth resulted from non-operating income from two line items—gain on the sale of equity investee and gain on long-term investments.
On April 16, 2018, Aphria (APHQF) announced its fiscal 3Q18 results. The company reported earnings per share (or EPS) of 0.08 Canadian dollars, which beat the analysts’ mean estimate of 0.01 Canadian dollars at the time of the earnings release.
Aphria Launches Solei, its First Adult-Use Brand, Designed for the Modern Cannabis Consumer
The cannabis sector remains hot for mergers and acquisitions as companies rush to capture a piece of the recreational cannabis market. Last week, Canopy Growth (WEED) announced that it had acquired Annabis Medical, an importer and distributor of medical cannabis in the Czech Republic. Last week, Cannabis Wheaton announced its acquisition of a licensed producer in Nova Scotia, Robinson’s Cannabis, which is constructing a 27,700-square-foot facility ahead of the legalization of recreational cannabis in Canada.
Last week, the big news that boosted optimism for the cannabis market came from the other side of the Canadian border. Republican senator Cory Gardner, from Colorado, issued a statement showing positive support from Donald Trump regarding Gardners’s concerns about Attorney General Jeff Sessions’s rescission of the Cole Memo. Recreational cannabis is legal in some US states, including Colorado.
Last week (ended April 13), overall market sentiment was positive, with the S&P 500 rising 2% and the TSX 30 gaining 44 basis points. The cannabis sector ended the week positively, breaking its losing streak.
NEW YORK, NY / ACCESSWIRE / April 16, 2018 / U.S. equities plunged on Friday, but finished the week on a positive note, as bank earnings failed to lift market optimism amidst geopolitical anxiety. The ...
Legal marijuana could be the first billion industry dominated by women. Yahoo Finance's Seana Smith, Andy Serwer and Jen Rogers discuss with BBG Ventures' Susan Lyne and Nisha Dua.