45.00 +0.44 (0.99%)
Pre-Market: 6:19AM EDT
|Bid||43.10 x 1000|
|Ask||45.00 x 1200|
|Day's Range||44.16 - 47.71|
|52 Week Range||20.99 - 59.25|
|Beta (3Y Monthly)||3.99|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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.
Canopy's $3.4 billion purchase of Acreage Holdings is unlike anything Wall Street or investors have ever seen.
Harvest Health & Recreation, Inc. (OTC: HRVSF ) CEO Steve White joined Yahoo's Jeff Lagerquist onstage Thursday at the Benzinga Cannabis Capital Conference to discuss consolidation in the marijuana industry. ...
Cannabis stocks rallied on Thursday before paring their gains, boosted by the news that the biggest company in the sector by market cap has bought the rights to acquire a U.S. multistate operator as soon as the federal ban on cannabis has been lifted.
Constellation Brands is boosting its U.S. beer business while betting that marijuana products will deliver big sales.
Investor interest in marijuana stocks led Jefferies to hold its first cannabis conference, featuring 30 companies and 260 investors. Here are a few things that marijuana companies are thinking about for the long-term.
It's 420. TheStreet's Jim Cramer discusses Canopy Growth, Tilray, Constellation Brands and other investing opportunities in the cannabis sector!
A company that jumps to a major stock exchange is the "rocket ship" event of marijuana stocks. It can send shares soaring to a whole new level -- into the stratosphere.This is what my research identifies. Companies in prime position for takeoff… but still before they blast off. The best way to show you what I'm talking about is to give you an example.There's a particular chart that marijuana execs are obsessed with right now -- and I can't blame them:InvestorPlace - Stock Market News, Stock Advice & Trading TipsCronos Group (NASDAQ:CRON) soared nearly 10,000% in less than three years. It's significant because it was the first of the Canadian cannabis stocks to make the leap to a major U.S. stock exchange. It began trading on the NASDAQ in February 2018.But let's go back to December 27, 2017 -- prior to the company announcing it had filed to list on the NASDAQ. It was trading on the smaller OTC market under the symbol PRMCF.In a newsletter I was writing at the time, I recommended Cronos when it was trading at $5.50 per share on the OTC exchange. Given our short-term trading strategy, we sold the stock in just 48 hours -- and locked in a nearly 50% profit!Pretty good for a couple day's work. * 5 Dividend Stocks Perfect for Retirees It was a fantastic short-term win, but now let's look at Cronos with the longer-term strategy I employ today. In a monster trend like what marijuana stocks are enjoying, we want to hold for the huge profits that can go along with it.On February 27, 2018, Cronos jumped to the NASDAQ and made history as the first Canadian marijuana company to list on a major U.S. exchange. The stock closed the Friday before the announcement at $7.01. One week after the announcement, it traded as high as $10.39 -- a rally of nearly 50%.Almost three months later on May 23, 2018, Cronos made another jump within Canada when it moved from the TSX Venture Exchange to the major Toronto Stock Exchange (TSX). Two weeks later, the stock was up 28%. (Note: Most Canadian marijuana stocks begin their public lives on the TSX Venture Exchange. The jump to the TSX is the equivalent of uplisting from the OTC to the NYSE in the United States.)As you can see in the chart above, both jumps resulted in big short-term profits. But you can make a lot more money by holding on for the longer-term surge that begins with the jump.Things change in the blink of an eye when tiny cannabis stocks go from having 30 million people following them in Canada to more than 300 million in the United States. Wall Street banks like Morgan Stanley and TD Ameritrade poured over $200 million in Cronos.What happened next was a chain reaction. The story appeared everywhere in the mainstream press… retail investors began jumping in… and the rest, as they say, is history.Two months before jumping to the NASDAQ, Cronos' average daily volume was 280,000 shares. Today, its average daily volume is around 16 million shares. That's a 5,600% jump in average volume in 16 months and a direct result of the uplisting.As billions of dollars poured into the stock, the shares soared from $0.25 per share in July 2016 to $25 per share in January 2019 -- a gain of nearly 10,000% in less than three years.These are the stocks I aim to identify -- the ones with the ability to jump 10X in the next few years. These are the kinds of gains that can change your life. Attracting Big MoneyCronos Group isn't the only Pot Jumper Stock out there, but it's one of only a few. Just a handful of companies have made the jump to a major U.S. stock exchange in the last year. Now, they are some of the biggest names in the world when it comes to marijuana stocks.You may have heard of a company called Canopy Growth (NYSE:CGC).It's the largest marijuana company on the planet. All the media outlets love to talk about it. Mostly because it's done nothing but go up in price.Canopy's explosive gains can be traced back to its jump.I first looked at Canopy back in April 2016. It was trading for just $2 per share… and it wasn't on anybody's radar.But I believed Canopy was poised for a huge profit explosion. And sure enough, that's exactly what happened.On May 24, 2018, Canopy became the first marijuana company to trade on the NYSE. The first day of trading was unimpressive to say the least. The stock fell 6% and shortsighted critics concluded that marijuana stocks were not ready for the big time.Well… they couldn't have been more wrong. Just six months later, Canopy had more than doubled.Jumping to a major U.S. stock exchange woke up the big boys -- just like it did with Cronos.In August 2018, multi-billion-dollar alcohol conglomerate Constellation Brands (NYSE:STZ), which is best known for its Corona beer brand, invested $4 billion into Canopy. This followed its initial October 2017 investment of $245 million and gave Constellation a 38% stake in Canopy.And not only did Constellation invest a large amount of money, it did so at a huge 51% premium.So remember when I said I first liked Canopy when it was trading at $2 per share? Today, it has grown into a $14.5 billion behemoth. It traded as high as $59.25 on October 16, 2018 -- which means early investors could have locked in gains of 2,800%+ in just two-and-a-half years. Don't WaitYou can see why I love the legalization trend and the opportunities opening up in marijuana stocks that can make the jump to a major stock exchange.Remember, we're still in the early stages of this jumper phenomenon. I was just in NYC this week at a cannabis conference, and I can tell you that people I spoke with now think it is more likely than before that President Trump will legalize at least some form of marijuana use. Not only would pot stocks in general surge, but the trickle of companies uplisting to major exchanges would turn into a flood.Whether that happens or not, we've uncovered a reliable system for identifying and exploiting what is undoubtedly the biggest -- and often most overlooked -- catalyst in the marijuana markets: cannabis stocks that jump to the major exchanges.My Pot Jumper System has already yielded great results. And now's the perfect time to get in on the action.If you'd like to see how this approach could make virtually anyone a millionaire, then watch this. And you can get my No. 1 cannabis recommendation for free… just for watching.Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you're interested in making triple-digit gains from the world's biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post How to Know When to Buy Marijuana Stocks appeared first on InvestorPlace.
Marijuana stocks: Canada's Canopy Growth agreed to buy U.S. pot grower Acreage Holdings for $3.4 billion - when the U.S. legalizes marijuana nationwide.
It's the same action that we've had for much of this week. Stocks press lower near the open only to recover by lunch and push higher in the afternoon. The gains aren't remarkable, but the bulls' resilience is something to take note of. The sector rotation underway also remains astounding. On that note, let's look at a few must-see stock charts for Monday.Remember, the U.S. markets are closed tomorrow for Good Friday. Must-See Stock Charts for Monday 1: InvitaeInvestorPlace - Stock Market News, Stock Advice & Trading TipsAbove is the daily chart for Invitae (NASDAQ:NVTA) and below is the weekly. This morning on Twitter, I pointed out that NVTA could post a sweet bounce, but I didn't think it would be this vicious.Shares ripped off of the 10-week and 50-day moving averages, gaining almost 8% from today's lows. This is definitely one to watch next week to see if the momentum can continue.I would have loved to buy NVTA at $21, but over $22 and NVTA could be primed for more upside. Must-See Stock Charts for Monday 2: BlackstoneBlackstone (NYSE:BX) delivered a strong earnings report and announced it will switch from a partnership to a corporation. Anyone ever own BX before? I have and waiting for a K-1 form that doesn't usually come until April is a pain the you-know-what. Switching to a corporation will make sense for the business and potentially make its stock more attractive to investors. Plus it has a monster yield.Could that cause a further breakout? Perhaps. Over $38 is encouraging for more upside, with long-term uptrend resistance not playing a role until the $40s. Below $38 and bulls may need to let BX reset. Above and it's okay. Must-See Stock Charts for Monday 3: Canopy GrowthAn explosive couple of days have put Canopy Growth (NYSE:CGC) back on the radar. But if the strong rally on Wednesday and Thursday proved anything to me, it's how tough of resistance $38 is.I'm watching CGC next week to see if the stock can pierce this level. If it can, it would be very bullish to see CGC find $38 as support. As long as it holds $44, CGC should be good on the long side. Must-See Stock Charts for Monday 4: Union PacificBetter than expected earnings propelled Union Pacific (NYSE:UNP) to new 52-weeks high on Thursday. There sure are a lot of bearish calls out there despite so many names hitting new annual highs.Anyway, as long as UNP stock holds $160 next week, the bull case still looks strong. A pullback to the 10-week moving average that holds as support can be bought, while a run to channel resistance is possible over the intermediate term. Must-See Stock Charts for Monday 5: PinterestThe Pinterest (NYSE:PINS) and Zoom (NASDAQ:ZM) IPOs got off to a much better start than Lyft (NASDAQ:LYFT) did, currently up 30% and 75% on the day, respectively.For investors, there a lot less volatile plays out there than these fresh IPOs. But if you have to play them, investors at least have the IPO day range to work with. A red-to-green open on Monday could draw in more buyers for PINS, while a push through the highs could ad even more momentum to the name. * The Jobs Report Isn't an Effective Metric for the U.S. Economy If it's too short term for you, don't have any regrets about giving it more time to base. (Here are 13 things to know about the Pinterest IPO).Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long NVTA. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post 5 Must-See Stock Charts for Monday: CGC, PINS, NVTA, UNP, BX appeared first on InvestorPlace.
"Thirty seconds for the market to open," a Toronto Stock Exchange representative said as the crowd started to clap, cheer and celebrate. It was the anniversary of the Evolve Marijuana ETF (TSX:SEED)(OTC:EVVLF) and they were celebrating being the best-performing equity ETF on the TSX in the last year.
The stocks of Canada’s Canopy Growth and the U.S.’s Acreage Holdings rose Thursday after Canopy announced a deal for the rights to acquire Acreage.
White heaped additional praise on Linton, saying, “at some point, he’s going to do something. The acquisition of Acreage marks another standout move for Linton and Canopy, one of the premier names in the global cannabis market.
The deal is for the right to purchase Acreage if pot is legalized in U.S. If Canopy were to make the purchase now, it would be acquiring an illegal U.S. asset and its shares would be delisted.
Marijuana stocks are among our top charts to watch today. Bank of America Merrill Lynch named the company as one of three marijuana stocks to buy. The stock, after sharp year-to-date gains, has been consolidating in recent weeks, but may be on the verge of its next leg up with cannabis stocks in general.
Canopy Growth will probably purchase the rights to buy Acreage Holdings to tap the growing potential of the U.S. marijuana market. This should bolster the ETF MJ.
Where are you putting your PINS in this market? Jim Cramer is breaking down the latest Wall Street action live.
Constellation Brands Inc. shares rallied Thursday, after Canadian cannabis company Canopy Growth Corp. announced a deal that will give it the rights to acquire U.S. multistate operator Acreage Holdings Inc. as soon as the U.S. federal ban on cannabis has been lifted. The deal brings changes to the terms of Constellation's warrants in Canopy, in which it has invested $4 billion, according to Wells Fargo analyst Bonnie Herzog. As part of that deal announced last August, Constellation Brands gained 38% ownership and received warrants that if exercised would raise that stake to above 50%. Herzog wrote in a note to clients that there are four key impacts from the modification of the warrants, three of which are positive and one slightly negative. On the positive side, the deal extends the exercise period for Constellation to five to eight years from three years previously, "suggesting less 'cash out the door'," for the Corona beer distributor. Also positive, the deal does not change Constellation's representation on the Canopy board in the form of four directors. The deal splits the Tranche B warrants into two parts, "75% of total will be exercisable at C$76.68 ($57.31)with the remainder kept at VWAP (volme weighted average price) - High exercise price (vs where CGC is currently trading at C$57.11) reflects STZ's strong confidence in its CGC investment," Herzog wrote. The slight negative is that the deal now caps Constellation's ownership at 50%, she said. "Net/net - We view today's announcement as positive and continue to believe STZ's involvement in cannabis/CGC positions them well to take a leading position in the global alcohol/cannabis industry over the next decade plus," said the analyst. Constellation shares were up 3.6%, and have gained 18% in the last 12 months, while the S&P 500 has gained 7%.
The story really begins with the November 2017 investment made in Canopy Growth by Constellation Brands that left Constellation with a 38% equity stake in the firm and a pathway toward a controlling interest over a number of years. Cafina comes with a licence already in force to cultivate, distribute and export cannabis for medical and/or research purposes.
Canopy, which was sitting on a pile of cash after a high-profile investment last year from alcohol giant Constellation Brands Inc., has agreed to buy the New York-based marijuana company Acreage Holdings Inc. for $3.4 billion in a cross-border deal that may usher in wave of consolidation in the burgeoning industry. “They know the U.S. is the biggest prize of all,” he said.
Canopy Growth Corp said on Thursday it had secured a right to buy Acreage Holdings Inc for $3.4 billion once the United States legalizes the production and sale of cannabis. Shares of Canopy Growth surged 7.5 percent to C$61.40 after the two companies said the deal value was at a premium of 41.7 percent over the 30-day volume weighted average price of Acreage subordinate voting shares ending April 16. "Our right to acquire Acreage secures our entrance strategy into the United States as soon as a federally-permissible pathway exists," Canopy Chairman and co-Chief Executive Officer Bruce Linton said.
Canadian cannabis company Canopy Growth Corp (NYSE: CGC)'s confirmation Thursday of a .4-billion deal to acquire Acreage Holdings Inc (OTC: ACRGF) is the latest cannabis merger and acquisition news in a rapidly consolidating industry. Julius Kalcevich, CFO of New York-based iAnthus Capital Holdings Inc (OTC: ITHUF), said his company has completed 18 M&A deals in three years.
Marijuana M&A heats up, as Canopy buys Acreage. Bruce Linton, Canopy CEO, and Kevin Murphy, Acrage CEO, discuss with CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Brian Kelly, Steve Grasso and Guy Adami.
Canopy Growth stock is up today on news that it’s made a deal to buy Acreage Holdings. Yahoo Finance’s Zack Guzman and Kristin Myers are joined by Lauren Smith Brody, ‘The Fifth Trimester’ author and founder, to discuss.