|Bid||45.15 x 1300|
|Ask||46.05 x 1300|
|Day's Range||45.81 - 47.90|
|52 Week Range||18.93 - 59.25|
|Beta (3Y Monthly)||3.34|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
CVS has announced it will begin to sell topical CBD products at stores in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee. Yahoo Finance’s Dan Roberts, Akiko Fujita, Sibile Marcellus, and Alexis Keenan talk about the pharmaceutical chain’s decision to go green.
The ongoing wave of cannabis legalization is good for pot companies, but the trend could be a downer for alcohol stocks, warns DataTrek.
Canadian pot producer Canopy Growth bought another hemp-focused company, a move that could hasten its advance into the newly-legal U.S. market for the plant.
Canopy Growth Corp (NYSE: CGC)'s foray into the U.S. hemp industry is speeding up with another acquisition. One of the largest cannabis companies in the world said Thursday that acquired hemp company AgriNextUSA. Following the acquisition, Geoff Whaling — AgriNextUSA CEO and chairman of the National Hemp Association — will be appointed to Canopy Growth's U.S. division as strategic adviser for hemp and CBD.
U.S. stock futures are trading lower as investors continue digesting yesterday's Federal Reserve announcement. As expected, the central bank held the benchmark funds rate steady at 2.25% to 2.5%, while suggesting additional rate hikes are officially off the table for 2019.Additionally, the Fed lowered its GDP growth and inflation forecasts.Against this backdrop, futures on the Dow Jones Industrial Average and S&P 500 are both down 0.34%. Nasdaq-100 futures have shed 0.39%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn the options pits, the margin between call and put volume narrowed as uncertainty surrounding the Fed drummed up demand for protection. Specifically, about 18 million calls and 17 million puts changed hands on the session.However, the put push didn't translate over to the CBOE, where the single-session equity put/call volume ratio held steady at 0.58. Meanwhile, the 10-day moving average fell to 0.62.Options activity was a mixed bag on Wednesday. Canopy Growth (NYSE:CGC) saw a surge in call trading while trying to break free of its six-week triangle pattern. Bank of America (NYSE:BAC) suffered amid the post-Fed carnage in interest rates. Finally, Netflix (NASDAQ:NFLX) scored a high-volume breakout.Let's take a closer look: Canopy Growth (CGC)Canopy Growth shares have been uncharacteristically sleepy of late. But the nap is about to end. So says Wednesday's high-volume breakout attempt, which ultimately failed in the aftermath of the Fed meeting. All eyes will be on the pot stock today to see if the second time is a charm. * 10 Stocks on the Rise Heading Into the Second Quarter The symmetrical triangle pattern forming in CGC over the past six weeks is ripped from a textbook. With the apex of the coiled spring pattern fast approaching, a big-league breakout is imminent. And if volume patterns have their way, the resolution should happen higher.With implied volatility at the lower-end of its one-year range, long premium plays like buying calls or bull call spreads are an attractive way to game a potential rally.Indeed, the mad dash for calls has already begun. Yesterday's activity roared to 235% of the average daily volume, with 107,380 total contracts traded. Put demand fell by the wayside as calls accounted for 84% of the day's total. Bank of America (BAC)Bank stocks took it on the chin following the Fed announcement. With Jerome Powell indicating zero additional rate hikes planned for 2019 and downgrading the Fed's growth expectations, bond prices ripped while bank stocks dipped. Bank of America led the way lower with a nasty 3.4% selloff.Elevated volume accompanied the descent, suggesting this was an institutionally driven exodus. The groundswell in participation adds urgency to the bearish signal. With major resistance at $30 holding firm and the banking sector ousted to the doghouse, I suggest steering clear of BAC stock for now.On the options trading front, calls won the day despite the beatdown. Activity ramped to 169% of the average daily volume, with 363,363 total contracts traded. 68% of the take came from call options.The high uncertainty lifted implied volatility to 24% which, incidentally, places it at the 24th percentile of its one-year range. Premiums are now pricing in daily moves of 43 cents or 1.5%. Netflix (NFLX)Netflix scoffed at the post-Fed swoon and blasted to a new five-month high amid heavy accumulation. Only one more hurdle remains before the media giant returns to its 2019 peak and record high of $423.21 - the clear ceiling at $385.With two months of sideways congestion, Netflix is well-rested and has plenty of gas in the tank to see follow-through after yesterday's pop.On the options trading front, calls easily won the contest. Total activity jumped to 155% of the average daily volume, with 235,435 total contracts traded. 67% of the trading came from call options alone.The increased demand drove implied volatility higher on the day to 50%, which also places it at the 50th percentile of its one-year range. That means premiums are officially pumped and short option strategies are now attractive. Bull put spreads are my strategy of choice here.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 * 7 Specialty Retail ETFs to Buy the Industry's Disruption * 5 Stocks To Buy for the Happiest Employees * 3 Out-of-Favor Consumer Stocks to Buy Compare Brokers The post Thursday's Vital Data: Canopy Growth Corp, Bank of America and Twitter appeared first on InvestorPlace.
Hemp pioneer Geoff Whaling to join Canopy Growth USA as Strategic Advisor, Hemp and CBD in addition to being the co-Founder and President of Hemp Developments LLC. SMITHS FALLS, ON, March 21, 2019 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO) (CGC) is pleased to announce today it has acquired AgriNextUSA, a hemp enterprise led by CEO Geoff Whaling, that has been at the forefront of hemp advocacy and building a vibrant hemp sector in the USA. The acquisition will accelerate Canopy Growth's entry into key American jurisdictions as regulations surrounding the full use of hemp as a crop begin to be implemented, thanks in part to the recently enacted 2018 US Farm Bill.
HENDERSON, NV / ACCESSWIRE / March 21, 2019 / The market for cannabidiol (CBD) beverages alone could achieve a value of $260 million in the United States by 2022. CBD beverages form part of an even broader ...
CORAL GABLES, FL / ACCESSWIRE / March 20, 2019 / The marijuana stock market has been historically volatile for the last few months. Following the introduction of recent legislation in support of cannabis legalization, the marijuana industry has picked up speed as a result of increasing public support. Transcanna Holdings Inc (TCAN.CN), OrganiGram Holdings Inc (OGRMF), Cresco Labs Inc (CRLBF), and Canopy Growth Corp (CGC) (WEED.TO) are four cannabis companies worth looking into.
Per the terms of the agreement, HollyWeed will process Canopy-supplied dried cannabis flower in its Victoria, British Columbia manufacturing facility. In turn, HollyWeed will supply Canopy with oil and resin extracted from the source material. The partnership is expected to expand Canopy’s in-house capacity.
Shares of Aurora Cannabis (NYSE:ACB) have been soaring lately, up 25% in just a few trading sessions. Because of this giant move, investors are wondering if now's the time to get in on ACB stock or if a 25% rally means they missed their chance.Source: Shutterstock What's the verdict?I wouldn't say there's no upside left, but the risk-reward profile has certainly muddied. Unfortunately, investors who are suffering a case of FOMO -- a "fear of missing out" -- have no reason to be. There was ample time to buy this name, even after the big rally.InvestorPlace - Stock Market News, Stock Advice & Trading TipsLet's look at the charts to see why. Trading ACB Stock Click to Enlarge There are so many choices in the investing world that I do not like to be a "told you so" person. Meaning that even studious followers of the stock market can't act on everything they see and read. In the case of ACB stock, though, perhaps investors can extract a lesson. * 7 Video Game Stocks on Steep Discount Notice how the stock gapped higher by about $1 per share last week, closing near $9 after previously closing near $8. Many would argue that this ~12.5% gain was simply too much of a rally and they'd have to move on to something else. I needed to see how ACB stock would trade over the next few days, too, as I don't want to chase a double-digit move.The next day ACB stock put in an "inside day." That's where a stock's daily range trades within the range of the prior day. Notice on the chart above how the second candle following the big gap-up candle is within its range? After a big rally like this, that's a great consolidation pattern that bulls want to see. It shows that longs aren't winning to sell and shorts don't have enough "oomph" to drive it down.The next day, ACB stock began what looked like another inside day, before rocketing higher. In other words, this price action allowed investors to hop on before an 11% move higher.So what now?Shares of Aurora Cannabis stock are stretching into overbought territory. However, that does not mean it cannot continue higher. I wouldn't mind seeing how ACB stock does over the next few sessions and if we get a slight pullback before moving higher again.Keep in mind, ACB stock has breached $12 more than once in the past 12 months. Perhaps it's on its way of doing it a third time. Valuing Aurora Cannabis StockSo what got Aurora Cannabis stock rallying so strongly anyway? The company brought activist investor Nelson Peltz on board to advise on partnerships and global expansion.They didn't pick a bad advisor, either. Peltz has a long list of contacts and the hedge fund manager is a master in the consumer packaged goods space. Whether this leads to a partnership with a well-known blue-chip company or not remains to be seen. But adding him in this role certainly doesn't hurt Aurora's chances.That said, we're still very much in the "land grab" phase of the cannabis market. While growth is impressive -- as ACB stock grew sales 339% year-over-year last quarter -- the valuations do not support these names. For instance, while revenues more than quadrupled last quarter, sales came up just short of $39 million. With a $10 billion valuation, that growth better continue for some time in order for it to be justified.But if there wasn't an opportunity here, we wouldn't have Constellation Brands (NYSE:STZ) taking a multi-billion stake in Canopy Growth (NYSE:CGC) or Altria (NYSE:MO) doing the same thing with Cronos Group (NASDAQ:CRON). There's money to be made and an opportunity to be had with states and countries legalizing marijuana, both for medical and recreational use.That said, it's not a short-term or risk-free endeavor for investors.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long CGC. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Invincible Stocks Leading The Bull Market Higher * 5 Dow Jones Stocks Coming to Life * 7 of the Best High-Yield Funds for 2019 and Beyond Compare Brokers The post Did You Miss Your Chance to Buy Aurora Cannabis Stock? appeared first on InvestorPlace.
Cannabis-focused agriculture firm Terra Tech Corp. (OTCQX: TRTC) is planning to begin selling cannabis to recreational users in San Leandro, Calif. The City Council on March 18 voted to approve an ordinance for adult-use cannabis sales in the city. The ordinance is subject to a second reading which is scheduled to occur on April 1 […]The post Cannabis Stock News Daily Roundup March 20 appeared first on Market Exclusive.
Canopy Growth Corporation (NYSE:CGC) has announced that they have signed an agreement with OG DNA Genetics for the expansion of a previously signed partnership with the extension running to 2024. According to the newly signed agreement, the companies have extended the partnership agreement beyond Jamaica and Canada. Expansion of agreement to Europe Canopy Growth and […]The post Canopy Growth Expands Partnership With DNA Genetics appeared first on Market Exclusive.
SMITHS FALLS, ON and VICTORIA, BC , March 20, 2019 /CNW/ - Canopy Growth Corporation (WEED.TO) (CGC) ("Canopy Growth" or the "Company") and HollyWeed Manufacturing & Extracts Inc. are pleased to announce today they have entered into a multi-year processing and extraction agreement. HollyWeed North Cannabis Inc., the parent company of HollyWeed Manufacturing & Extracts Inc., is a female-led, LGBTQ2-positive company based in British Columbia that operates several subsidiaries specializing in the growth, manufacturing, licensing, and production of cannabis and other pharmaceutical grade products.
So far, 2019 has been good to Cronos Group (NASDAQ:CRON). Its share price has more than doubled this year. And the CRON stock gains make some sense.Indeed, as I wrote in December, the $1.8 billion investment in CRON stock by Altria (NYSE:MO) seems to be a game-changer. Among cannabis stocks, only Canopy Growth (NYSE:CGC), with $4 billion in hand from its deal with Constellation Brands (NYSE:STZ), looked to be in a stronger financial position. And yet, amid a market sell-off, investors largely shrugged at Cronos Group stock.That's changed in 2019, obviously, and perhaps it's changed a little too much. I still believe CRON stock needs to settle down. And I'm not alone. Wall Street has turned notably bearish on the shares in recent weeks. Ahead of Cronos Group earnings next week, those analysts might have a point.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cautious Turn on CRON StockAs MarketWatch pointed out last week, the Street on the whole actually sees downside ahead for CRON shares. Some 11 analysts on average have a target price of $20.30, or 6.6% below current levels.And recent coverage hasn't been all that positive. Per MarketWatch, BMO Capital Markets downgraded CRON to underperform. Analyst Tamy Chen pointed out that CRON trades at 80x EBITDA estimates -- two times the multiple sported by Aurora Cannabis (NYSE:ACB) and higher than Canopy Growth.Chen isn't alone. GMP Securities cut Cronos to hold earlier this month. Cowen (NASDAQ:COWN) initiated at neutral. Jefferies Financial Group (NYSE:JEF) began its coverage of Cronos Group stock with an underperform in late February (though CRON stock rose anyway). * Top 7 Service Sector Stocks That Will Pay You to Own Them To be sure, the Street isn't as always right. And even bearish analysts -- including the team at Jefferies -- have pointed to a massive opportunity in both recreational and medicinal cannabis.But for investors looking for the best cannabis play, it's worth noting that the analysts aren't just focused on valuation. BMO has pointed out that Cronos is trailing other Canadian producers in building out capacity. According to Yahoo! Finance, Jefferies cited concerns about when, exactly, Cronos would spend the funds from Altria -- and how much support the tobacco giant would give the pot producer in the early going.While it's easy to dismiss analyst concerns -- and, again, it's far from guaranteed that the Street is correct -- the factors driving the downgrades should be given some consideration. This isn't a case of analysts simply hollering about near-term valuation metrics, or arguing that cannabis stocks represent some sort of bubble.The common thread in recent coverage isn't that Cronos Group is failing or that it has no opportunity. Rather, the worry is that the company isn't moving fast enough in an industry where being a first mover increasingly looks like a key advantage. Earnings and Cronos Group StockIt's not just analysts who are making that point. InvestorPlace contributor Luke Lango made the case last month that Canopy Growth, not Cronos, was the best play in cannabis. One reason: CGC stock is actually cheaper on a per-kilogram basis.That can change if Cronos ramps production and puts its Altria funds to work. So far, however, that hasn't quite been the case. In fact, the company earlier this month swapped its shares of privately held Whistler Medical Marijuana for shares in Aurora Cannabis. That deal highlights the difference between the two companies. * 15 Stocks That May Be Hurt by This Year's Big IPOs Aurora's strategy clearly is to take as many shots at as many opportunities as possible in the shortest amount of time. With that strategy, it's possible that Aurora is taking on too many projects. But in a fluid market (from both a competitive and regulatory perspective), and one with multiple products (recreational, medical, CBD, edibles, etc.), Aurora is trying to gain exposure to as many markets as possible.Cronos doesn't have to take the same path as Aurora. But with the stock near the highs -- and triple late November levels -- it's going to need to show something with earnings next week. That may be discussion of what exactly it plans to do with its $1.8 billion in newly received cash. It may be clarity on Altria's role. (Note that Altria's senior director of corporate strategy is joining Cronos as chief financial officer, perhaps a step in the right direction.) It may be talk of additional M&A, after a huge win on the Whistler deal. (Cronos appears to have invested CAD$4 million [$3 million] in the company - and received C$175 million in Aurora stock.)Whatever it is, with the highest valuation in the cannabis stock, the status quo isn't enough. Cronos needs to post an impressive earnings report next week -- and not just in the numbers. Rather, the company needs to convince investors that it can take advantage of its cash, and put that cash to work to drive growth. It won't be easy - and at these prices, expectations are going to be high.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Who's Made The Right Call On Cronos Group Stock? Altria or Analysts? appeared first on InvestorPlace.
Do you want to grow your trading account? Then it may be high time to look at cannabis leaders Canopy Growth Corp (NYSE:CGC) and Scotts Miracle-Gro (NYSE:SMG). Across "all lines" of business, a strong blend of growth opportunity is happening off and on the price charts of CGC stock and SMG stock, and these are worth putting on the radar for purchase. Let me explain.Source: Shutterstock They're not entirely two peas in a pod. Nevertheless, both Canopy Growth and Scotts are in the booming cannabis sector, or what used to be referred to as the business of grass back when VW buses and Cheech & Chong ruled the day. Did I just date myself?More important, Canopy Growth and Scotts are bonafide leaders within their area of expertise.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAnd right now CGC stock and SMG stock are ripe for buying as those bottom, top and squiggly price lines are offering a nice blend of the right stuff off and on the price chart for investors to grow big profits in today's market. Cannabis Buy No. 1: CGC Stock Off the price chart, CGC stock is one of the marijuana space's undisputed leaders with its roots firmly planted in the medicinal side, but now also smartly growing its recreational-based business. Not unlike with other early stage industries such as the now-ubiquitous streaming video market such as market leader Netflix (NASDAQ:NFLX), quarterly corporate confessionals have been a mixed blend for Canopy Growth. Overall, though, the fundamental picture looks strong for CGC stock. * Top 7 Service Sector Stocks That Will Pay You to Own Them Most recently, February's earnings report delivered a Street-topping and eye-popping profit of 22 cents compared to forecasts calling for a loss of 17 cents. Those results are a manufactured blend of accounting allowances as CGC grows its business. As much, an eyebrow or two might be raised. Still, for investors familiar with buying growth stocks, budding sales are a reality and there's no denying Canopy's bountiful year-over-year revenue gain of 282%.There's also CGC's relationship with beverage giant Constellation Brands (NYSE:STZ). The strategic alliance puts Canopy at a sizable advantage, with working capital to grow its business, as well as distribution and marketing expertise.On the price chart, conditions for CGC stock is ripe for growing the color of money in investors' trading accounts. Taking a look at the annotated daily chart of Canopy Growth, what had been a forecasted handle consolidation by this strategist back in the second half of February has morphed into a larger symmetrical triangle pattern.Further supporting the price consolidation's bullish tendencies, CGC's triangle has successfully tested the 50% retracement level a couple times and is centered on either side of the 62% level. All told, a breakout through $48 and slightly above the recent pivot high, as well as angular resistance, looks like an attractive entry point to go long CGC stock.I would add the caveat that Canopy Growth has made a habit of forcing the question "what was I smoking?" from both bulls and bears, with a decent history of technical failures. That being said, to keep any positions from going up in smoke, I'd recommend a homegrown blend of the technical and the prudent, and use an initial stop-loss below $44.40. Cannabis Buy No. 2: SMG Stock SMG stock is our second buy recommendation inside field of cannabis. The company has been around forever and is a household name best known for its fertilizer products for growing one's garden or lawn. But in today's new grass market, Scotts is a major player in the field and the industry's largest hydroponics supplier.Combine SMG's solid "picks-and-shovels" positioning with the cannabis arena's penchant for outsized growth potential and old-school fundamentals like price-to-sales of 1.67 or a forward P/E of 17.6x which don't require an accounting degree and a price chart that's planting the seeds for a breakout -- and bulls have every reason to put Scotts on their radar.Taking a look at the weekly chart of SMG stock, shares have been quietly consolidating at the 50% retracement level for the past few weeks. The price action follows a two-month long rally out of a bear market and might beg the question whether, technically speaking, the glass is half-full or half-empty?With shares also comfortably above the 200-day simple moving average and stochastics having signaled and curling higher out of oversold territory on the daily chart (not shown); you don't have to be smoking anything to see higher prices ahead. And for like-minded investors looking to cash in on today's narrative, buying SMG stock on a breakout above $83.23 with an initial stop-loss beneath the pattern low of $79.94 is a smart way not to get smoked either.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 options-based strategies, related musings or to ask a question, you can find and follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Profit from Cannabis with Canopy Growth and Scotts Miracle-Gro appeared first on InvestorPlace.
Jim Cramer said that he believes that Canopy Growth could be the next Amazon. Here's why he thinks that the cannabis company could be the next Amazon.
We often hear jokes about the lofty valuations of cannabis stocks. They have huge market capitalizations with only a tiny fraction of them in actual revenues. Tilray (NASDAQ:TLRY) is perhaps the poster child for that joke since its short squeeze that occurred last September. Then Tilray stock skyrocketed to $300 per share in a day, but only to perhaps mark the absolute top forever.Source: Shutterstock First, let me assure you that I am not a perma-bull on pot stocks. Yes, I only trade them from the long side, but I use the technicals to guide my decisions. A few weeks ago, I shared a long entry opportunity in Tilray stock and it paid quickly.This morning, the stock is spiking and there could be another setup looming.InvestorPlace - Stock Market News, Stock Advice & Trading TipsLast night, TLRY reported earnings and investors are happy with what they saw because TLRY stock is spiking on the headline. But in classic TLRY fashion, the knee jerk reaction last night was violent as the stock fell $5, then rallied at $4. This morning, it is still holding in the green up 3%.The results were mixed as management beat the sales expectations but also reported some extra expenses. For now, this is something Wall Street should ignore for as long as TLRY is a growth stock.If this were a mature company, then investors can demand tighter profit controls, but this is a situation where the cannabis companies are plowing into completely new territory so they deserve a lot of leeway, more so than usual in fact. * The 10 Best Stocks to Buy for the Bull Market's Anniversary The cannabis industry is still in its infancy on Wall Street. Even the so-called experts rely more on hunches and guessing to forecast the fundamentals. So perhaps until there is enough history to establish tangible expectations, I greatly rely on the technicals to guide me. Charts don't lie and they outline the trends and important levels.However, relying on charts doesn't mean I completely dismiss the importance of the company metrics. Perhaps the most important one that TLRY reported last night was that it sold 2,053 kilos, which is three times that of last year. This combined with a 110% increase in revenues for the same period, which tells me that the company is executing well on its growth plans.TLRY's Chief Executive Officer Brendan Kennedy explained away the margin pressures by highlighting the expansion of its facilities. The company added seven new facilities, so the ramp-up time will keep profitability at odds until the revenues catch up to the expenses. Overspending is the necessary evil that growth companies have to endure.Meanwhile, they maintain a relatively healthy balance sheet with $500 million in cash. This will ensure that they are able to pursue their next focus areas in the U.S. and Europe. This is not only by targeting the recreational legalization trends, but this also includes making the CBD and medical applications. Bottom Line on Tilray StockIn short, the company is succeeding in its mission, so Tilray stock should have more upside potential in the long run. Those who want to bet on its success for years to come need not worry about the minutia of action here. Moreover, they are not going at it alone. Management struck a partnership with Anheuser-Busch InBev (NYSE:BUD), which validates TLRY's efforts in my opinion. If it's good enough for a massive company like BUD, then it's good enough for the general investor.Meanwhile, for those who prefer to trade the stock short term instead, the technicals can definitely provide a road map.Year-to-date, TLRY stock came into the earnings event only up 2.4% compared to the S&P 500's 12% for the same period. Clearly, the stock is stuck below $80 per share since December. Even worse is how TLRY compares to Canopy Growth (NYSE:CGC), Cronos (NASDAQ:CRON) and Aurora Cannabis (NYSE:ACB), which are up 70%, 108% and 100%, respectively, for the same period. * 7 Financial Stocks to Invest In Today The overnight bounce in Tilray stock brought it into potential resistance. The area around $76 to $78 per share has been pivotal for months. This usually creates resistance as both bulls and bears want to win the battle there. In January, the TLRY bulls were able to over come it, but only for a few days. Unlike the stock market in general, TLRY has failed to recover the ledges from which they crashed into the Christmas correction.Specifically, $77.50 is my area of interest. If they close TLRY above it and successfully retest it for footing, I'd consider it an opportunity to trade the upside potential to recover the January highs. But even then, there are areas of resistance here and at $82 per share. So I would need to see a clear breach of the first line of resistance before I chase it long.As for support, the bears could get more of an upper hand if they can break through $70 per share. Oddly enough, Tilray stock retested its December lows just a few days ago. This is happening while the S&P 500 is still on a tear. The wound is still fresh. Below it, there is a trap door to the mid-fifties. This is not a forecast, but merely one of the available scenarios at hand.It is best to wait for the break out from the zones noted before chasing either the upside or the downside potentials.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Why Tilray Stock Is Still Worth a Look Despite Earnings Flop appeared first on InvestorPlace.
SMITHS FALLS, ON and LOS ANGELES, CA , March 19, 2019 /CNW/ - Canopy Growth Corporation ("Canopy") (WEED.TO) (CGC) ("Canopy Growth" or the "Company"), a world-leading, diversified cannabis company and OG DNA Genetics ("DNA"), a globally recognized cannabis brand, are pleased to announce today they have signed an agreement to extend and expand upon their previously announced partnership through to 2024. With this newly signed agreement, Canopy Growth and DNA have extended their partnership beyond Canada and Jamaica and have committed to bringing DNA's world-renowned genetics to a soon-to-be disclosed European market. The partnership gave Canopy Growth access to a wealth of unique, genetically-diverse cannabis strains that it then incorporated into its Canadian product lines.