|Bid||45.4500 x 1300|
|Ask||45.4300 x 1400|
|Day's Range||44.83 - 45.98|
|52 Week Range||18.93 - 59.25|
|Beta (3Y Monthly)||3.44|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Company says a formula error in a spreadsheet led it to overstate one metric, highlighting some of the teething problems showing up in the early days of the new legal sector.
Tilray's deal to acquire the hemp food maker Manitoba Harvest has bolstered the outlook of the already high-flying marijuana ETF.
Canopy Growth's CEO and CFO talk cannabis-infused beverages, when the company's hemp-derived CBD products could be available in the U.S., and more.
Less than a week after posting its latest quarterly earnings, Canopy Growth Corp. , the largest pot company by market value, has had to issue a correction. The Canadian cannabis company said it is restating one metric in last week's fiscal third-quarter and nine-month earnings release after a formula error in a spreadsheet. The Smiths Falls, Ontario-based company said the nine-month ajdusted EBITDA figure should have been C$155.2 million ($117.8 million) but was incorrectly stated as C$69.0 million. "The Adjusted EBITDA loss for the three months ended as December 31, 2018 was correct as reported, as were all prior quarters as released," the company said in a statement. Canopy posted the numbers late Feb. 15, a release closely watched by investors in the new legal sector. The company barely managed to release results into the Canadian securities regulator's database, just before a 45-day deadline elapsed. The company reported a 282% increase in quarterly revenue as marijuana became legal in Canada, but earnings were slammed by paper losses. Shares were down 3.7% premarket, but have gained 105% in the last 12 months, while the S&P 500 has gained 3.1%.
NEW YORK, Feb. 21, 2019 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Canopy Growth Corp. wants to remain the world’s largest legal pot producer, and to hear co-Chief Executive Bruce Linton tell it, has a detailed plan to stay there.
SMITHS FALLS, ON , Feb. 20, 2019 /CNW/ - Canopy Growth Corporation (WEED.TO) (CGC) ("Canopy Growth" or "the Company") filed its Amended and Restated Management Discussion and Analysis for the three and nine months ended December 31, 2018 ("Amended MD&A") to correct the Adjusted EBITDA1 in the original MD&A for the nine months ended December 31, 2018 filed on February 14, 2019 (the "Original MD&A"), as follows. Canopy Growth works with the Beckley Foundation and has launched Beckley Canopy Therapeutics to research and develop clinically validated cannabis-based medicines, with a strong focus on intellectual property protection.
Constellation Brands, Inc. (NYSE: STZ) shares dropped Wednesday after the alcoholic beverage maker commented on its beverage growth expectations at an industry conference. The company said it expects to see a 10-cent-per-share hit to fourth-quarter earnings from its investment in cannabis company Canopy Growth Corp. (NYSE: CGC). Constellation, likely best known as the maker of Corona beer, said that it expects the cannabis market to be worth $200 billion over the next decade, and said it expects earnings per share to rise by 10 percent over the next three years.
Tilray's acquisition of the world's largest hemp food company could give the Canadian marijuana producer an edge over its top rivals.
Welcome to the second installment of “Bulls and Bud,” where we take a look at some of the most promising stocks and brands in the legal cannabis industry. Margins Matter Aurora Cannabis (NYSE: ACB ) and ...
HENDERSON, NV / ACCESSWIRE / February 20, 2019 / Cannabis stocks were mixed on Tuesday, amid a flurry of announcements on the progress of medical and recreational-use bills around the U.S. Pennsylvania's ...
Canadian marijuana producer Canopy Growth might not have enough weed stocked up to keep its grip on nearly a third of the nation's legal cannabis market, GMP Securities said.
Marijuana stocks may not have had a stellar year in 2018. But, this year could easily bring better news as things continue to expand and more new marijuana markets open up.
The cannabis space remains enticing thanks to both the short-term and long-term trends we have in place. As a result of those trends, it has become a natural interest among investors. Attention has been gravitating toward Canopy Growth (NYSE:CGC) and not because it's the wildest one to trade. Instead, it's because CGC stock is one of the more high-quality names in the industry.Should it be one you consider on the long side?As with everything in the stock market, it comes down to several considerations. Things like, what kind of timeline are investors using, what is their risk tolerance and do they consider themselves traders or investors?InvestorPlace - Stock Market News, Stock Advice & Trading TipsNot only do the answers to these questions indicate whether investors should be in the cannabis space at all, but it also impacts whether Canopy stock is their best choice. For instance, if they are investors instead of traders, they may be best suited in a name like Cronos Group (NASDAQ:CRON) or CGC stock. If they're traders, perhaps Tilray (NASDAQ:TLRY) or Aurora Cannabis (NYSE:ACB) may be better suited for their tastes.That's not to say ACB can't be an investment or CGC a trade, but it's all about putting the most odds in our favor. So how exactly does Canopy Growth benefit long-term investors looking for alpha in the cannabis trade?Let's explore. Valuing Canopy Growth StockAt first, investors were cheering the company's earnings results. Canopy Growth stock initially jumped about 4% despite missing earnings expectations and buyers were holding up the stock. However, selling pressure has since set in and it tells me that the share price needs time to digest. * 10 Smart Money Stocks to Buy Now Last quarter, revenue of $83 million (Canadian dollars, by the way) surged more than 282% vs. the same quarter a year ago. Canopy Growth stock recorded a GAAP loss of 38 cents per share, missing estimates for a loss of 25 cents per share by 13 cents. Losses aside, the company is absolutely crushing it. Triple-digit revenue growth is Canopy's "short-term" driver, while long-term investors remain optimistic about further legalization.In the U.S., only about 20% of the country has approved cannabis for recreational consumption. While it will take time to achieve a full 100%, the country continues to gravitate in that direction, as well as making progress on the federal level. Let's not also forget whole countries -- like Canada -- can approve cannabis use for its population, too.This long-term legalization catalyst is one reason the highly regarded Constellation Brands (NYSE:STZ) dumped $4 billion into CGC to own roughly 40% of the company. Still, its valuation looms large. Shares command a market cap of roughly $16 billion. Even if the company racked up $400 million in sales this year, we're still talking about a price-to-sales ratio of 40.Whew, that's high. But if CGC can maintain a lofty level of revenue growth, the company will eventually grow into that valuation. It will take patience and nerves of steel for investors to participate in that migration, but the long-term payoff could be huge. CGC Stock ChartsIn the last section, I talked about the need for CGC stock to digest. It's not so much the earnings result that stretched out Canopy, but the entire move over the last two months. The stock essentially doubled from its December lows to its January highs. * 7 Financial Stocks With Accelerating Growth Any time a stock does that, a pullback or consolidation is justified. One major observation I have on CGC stock is its inability to take out its January high when it released earnings last week. In other words, despite investors seemingly liking the quarter, they didn't like it enough to bid it up to new 2019 highs. It also shows some downtrend pressure from the stock's earlier run in the fourth quarter of 2018.Overall though, the trend is up. Despite this, I think CGC stock is now a buy-on-any-dip candidate. I would like to see a drop into the mid-$30s and for the 50-day and/or 200-day moving average to support the name. That would allow Canopy Growth stock to digest the big move without negating its uptrend.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Hot Stocks Leading the Market's Blitz Higher * 7 Strong Buy Stocks With Over 20% Upside * 5 Growthy Stocks Trading Below 15X Earnings Compare Brokers The post Is Canopy Growth Stock the Best Cannabis Play? appeared first on InvestorPlace.
Despite the cannabis sector's very young age, Canopy Growth has yet to fully explain its path toward profitability, Landry said. Canopy Growth could wind up being the last cannabis company to show positive EBITDA within GMP's entire coverage universe, the analyst said.
A still-speculative and budding marijuana trade is looking a bit less risky for Canopy Growth Corp (NYSE:CGC) on and off the price chart. But if you're looking to grow some green in your trading account with less risk, go long CGC stock using a time-tested approach with historical precedent. Let me explain.If you want the security of a blue-chip stock, there's always the Dow Jones Industrials and its constituents like Microsoft (NASDAQ:MSFT) or maybe Coca-Cola (NYSE:KO) to consider. And there's nothing wrong with that. But don't forget to make a bit of room in that portfolio for CGC stock -- and who knows, maybe it will be a future blue (or green?) chip in its own right.Late last week, Canopy Growth, one of the marijuana industry's undisputed market leaders and a name ripe for secular growth, released its latest quarterly results. By some numbers, CGC stock delivered larger-than-forecast losses of 38 cents CAD. But allowing for a bit of operational leeway as Canopy grows its business, by stripping out a mark-to-market debt adjustment CGC saw a very healthy, market-topping profit of 22 cents compared to Street views of a loss of 17 cents.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAdmittedly, Canopy's earnings are a mixed blend, which by more stringent and conservative measures might cause some investors to gag. I get it. * 7 Financial Stocks With Accelerating Growth Still, when looking at the other lines that matter, CGC stock's top-line growth of 282% and squiggly price line on the price chart are looking worthy of a nibble for investors interested in allocating some capital into a leader in this up-and-coming industry. CGC Stock Weekly ChartCGC stock has a history of making both bullish and bearish investors ask the question, "what was I smoking?" Bottom line, the emerging and volatile marijuana industry is ripe for lightning-fast, technical about-face moves on the price chart -- and shares of Canopy have seen its share of such moves.Still, if history is any sort of indicator, bullish investors should put CGC stock on the radar for purchase. Currently, shares are putting together a small handle consolidation within its large corrective cup base. That's bullish in and of itself. But with the broader market in a new uptrend, Canopy's attractive growth and positioning within the industry, the relatively tight contraction looks even stronger. Additionally, as the handle pattern has also found support from the 50% and 62% retracement levels, a breakout through the pattern high of $51.81 looks even more promising for a future purchase.I'd reasonably estimate an initial upside price target is Canopy's all-time-high of $59.25 if shares can manage a breakout. From there, the sky may not be the limit, but a rally to new highs with the possibility for very large price gains out of the corrective cup does have historical precedent on its side. In the event shares break out but then begin to falter, I'd initially set a money stop below $46. That amounts to roughly 11% exposure in CGC stock.This stop-loss minimizes exposure without playing too close to the vest in a volatile stock. It also gives the chart sufficient technical wiggle room, without marrying to the position if conditions turn south.Having said that, if you are the marrying type, I'd recommend using a married put strategy, which combines a protective put with long stock as an alternative to a stop-loss in CGC stock.Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. . For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Hot Stocks Leading the Market's Blitz Higher * 7 Strong Buy Stocks With Over 20% Upside * 5 Growthy Stocks Trading Below 15X Earnings Compare Brokers The post How to Handle Canopy Growth Stock Post Earnings appeared first on InvestorPlace.
Companies like Altria Group Inc (NYSE: MO) and Constellation Brands Inc. (NYSE: STZ) are looking to enter the cannabis sector via innovative brands like Canopy Growth Corporation (NYSE: CGC). The cannabis sector is beginning to snowball and attitudes in major markets are rapidly shifting in favor of legalization.
HENDERSON, NV / ACCESSWIRE / February 19, 2019 / Cannabis stocks closed last week mostly higher, Canopy Growth and Aphria, two of the more well-known stocks in the industry each released positive press ...
U.S. stock futures are trading lower this morning after the Dow Jones Industrial Average notched its eighth straight up week in a row. With the relentless recovery, some stock indexes are now within striking distance of their prior peaks.Ahead of the bell, futures on the Dow Jones Industrial Average are down 0.23% and S&P 500 futures are lower by 0.29%. Nasdaq-100 futures have shed 0.29%.Friday's market rally lit a fire under call demand and helped drive overall volume to above-average levels. Specifically, about 23.3 million calls and 17.5 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe euphoric dash for calls made waves at the CBOE with the single-session equity put/call volume ratio plunging to 0.52 -- a one-month low. Meanwhile, the 10-day moving average slipped to a four-month low.Options activity was all about earnings on Friday. Coca-Cola (NYSE:KO) continued falling after missing revenue estimates and delivering poor 2019 guidance. Canopy Growth Corp (NASDAQ:CGC) reported sales growth that largely satisfied shareholders. Finally, Nvidia (NASDAQ:NVDA) jumped despite poor earnings, but the initial up-gap was aggressively sold.Let's take a closer look: Coca-Cola (KO)Weakness continued for the soda king on Friday, driving KO down just shy of 1% by day's end. The stock gapped higher and saw early morning strength, but the rally ultimately fizzled on continued angst surrounding its poor earnings release. Earlier in the week, Coca-Cola reported numbers that missed revenue estimates. The forward guidance also disappointed. * 10 Hot Stocks Leading the Market's Blitz Higher With shares now beneath the 200-day moving average, sellers have full control here. The next two support zones are $44.50 and $41.50.On the options trading front, calls dominated the session despite the slide. Total activity grew to 465% of the average daily volume, with 170,263 total contracts traded. Calls accounted for 78% of the day's take.With earnings out of the way, the day-to-day volatility should return to a more normal pace. Implied volatility sits at 17%, or the 34th percentile of its one-year range. Premiums are pricing in daily moves of 49 cents, or 1.1%. Canopy Growth Corp (CGC)The volatility in marijuana stocks continued on Friday, only this time it was an earnings-report-driving the drama. Canopy Growth Corp shares were up as much as 8.1% before the high finally wore off. By day's end the gains were trimmed to 3.1%.With the trend still pointing higher, CGC bulls remain in control. I see little reason to doubt their domination unless the stock takes out support at $41.Not surprisingly, optimists took to the options market to express their enthusiasm. Activity jumped to 176% of the average daily volume, with 118,618 total contracts traded. 64% of the trading came from call options alone.Expectations for movement were running hot into Friday's session, so the 3.1% daily gain was kind of a dud. As such, traders crushed implied volatility driving it back down to 74%. Nvidia (NVDA)Nvidia reported earnings that reflected a massive slowdown in their business. Revenue and earnings for the fourth-quarter fell 24% and 48%, respectively. But there is a silver lining. While the results where terrible, the market was expecting horrific. So in a world where it's all about expectations versus reality, the numbers were good enough to deliver a 1.8% gain on the day.Looking at the close-to-close move is a bit misleading, however, because NVDA initially gapped up 5.4%, so this was undoubtedly a sell the news reaction. I suggest waiting for the stock to settle before trading it.Calls won the popularity contest on Friday. Total activity swelled to 206% of the average daily volume, with 485,943 total contracts traded. 59% of the total came from the call side.Implied volatility experienced the typical post-earnings crush, falling to 41% on the day. That places it at the 34th percentile of its one-year range. Premiums are pricing in daily moves of $4.11, or 2.6%.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 * 10 Hot Stocks Leading the Market's Blitz Higher * 7 Strong Buy Stocks With Over 20% Upside * 5 Growthy Stocks Trading Below 15X Earnings Compare Brokers The post Tuesday's Vital Data: Coca-Cola, Canopy Growth Corp and Nvidia appeared first on InvestorPlace.