|Bid||0.00 x 1000|
|Ask||0.00 x 1100|
|Day's Range||46.51 - 49.05|
|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|
Canopy Growth reporting third quarter earnings that rose 282 percent year-over-year. Sales were supported by the legalization of recreational pot in Canada last October. Yahoo Finance's Jackie DeAngelis and Dan Roberts discuss.
Cannabis companies like Curaleaf and Acreage can’t list their stocks in the U.S., or draw on U.S. bank lines. They also must cope with wide variations in state regulations. Don’t look for much progress from the federal government for at least a year.
A half-dozen companies are vying for leading roles in what bulls believe could be a $50 billion business. But it’s too early and the outlook is too uncertain to pick winners.
Canopy Growth Corporation (CGC) delivered earnings and revenue surprises of -346.67% and -4.91%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?
This top marijuana stock reported sales grew at a breakneck pace last quarter, but that may only be the beginning.
The Dow Jones Industrial Average jumped more than 1% while the Nasdaq Composite struggled to stay above breakeven on Friday, finishing 61 basis points higher, as markets head into a three-day weekend. (That's right, don't forget to keep your screens off on Monday, unless you just want to get in a little extra chart studying.) Speaking of which, here are the five top stocks to trades for when the markets reopen Tuesday: Deere (DE) Click to Enlarge Shares of Deere (NYSE:DE) came under slight pressure Friday, falling just 2.1% despite missing on earnings expectations and beating on revenue estimates. With shares hovering right near $165 resistance, Deere would've needed a strong quarter to launch its stock into breakout mode.Now pulling back, we have to see where support comes into play. Short of Friday marking the short-term low, a test of the 50-day seems likely.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf we get a broader market correction -- and perhaps some trade-war worries -- we could get DE stock down into this $145 to $148 area. That puts uptrend support, and the 200-day moving average, into play. * 7 Financial Stocks With Accelerating Growth That would give investors a low-risk long opportunity should they find DE attractive. Nvidia (NVDA) Click to Enlarge Shares of Nvidia (NASDAQ:NVDA) were up big in after-hours trading Thursday evening. The company's earnings results and guidance gave bulls confidence, running shares up over $170. That was a key level in the stock though -- and one we outlined earlier this week.With shares up just over 2% now, confidence isn't all that high and the move isn't all that impressive as NVDA fades off its highs. Bulls want to see to the stock stay over the 21-day moving average now. Below and the 50-day is on the table and possibly a test of uptrend support down below $140.If the 21-day holds, a run up to $174 is possible. Above that and $200 becomes a possibility again. Canopy Growth (CGC) Click to EnlargeLike Nvidia, the modest post-earnings rally in Canopy Growth (NYSE:CGC) isn't exactly inspiring the bullish spirits on Wall Street. Shares continue to hold up over this $45 to $46 level, as well as uptrend support and the 21-day moving average.So long as that's the case, CGC can technically move higher. If it closes above $50, it could trigger a move up to the prior highs near $60. Below the 21-day moving average, though, and Canopy Growth stock may need some time to reset. Applied Materials (AMAT) Click to EnlargeA rally from sub-$30 to more than $40 per share right into the 200-day moving average put bulls in a poor risk-reward situation with Applied Materials (NASDAQ:AMAT). Particularly with the company reporting earnings.Despite a top and bottom line beat, AMAT stock pulled back after somewhat disappointing guidance. That said, shares are bouncing nicely off the 21-day moving average. Considering the run-up prior to earnings, this price action isn't all that bad.Aggressive bulls can buy now and use a close below the 21-day as their stop. Conservative bulls can buy on a potential breakout over the 200-day moving average.Bears have a play too. If they didn't like the quarter and don't like the stock, they can consider shorting AMAT with a stop-loss on a close over the 200-day. More conservative bears can wait for a break of the 21-day.If they get it, they can look to ride AMAT down to the 50-day moving average. Newell (NWL) and XPO Logistics (XPO) Click to Enlarge Newell Brands (NYSE:NWL) (top) beat on earnings but missed on revenue estimates for the fourth quarter. Making matters worse, guidance disappointed.In all, the report sent shares reeling, down more than 20% Friday. As such, NWL stock remains a no-touch. Its plunge below $18 thrusts it into no man's land and puts the $15 lows on the table.This one remains a disaster, just like XPO Logistics (NYSE:XPO), below.A top and bottom line earnings miss sent XPO spiraling lower Friday, falling more than 12%.While XPO is rallying off the lows, it's in no man's land, too. Like Newell, its 52-week lows are on the table of possibilities, and it's hard to have much trust in this name until it can get above its 21- and 50-day moving averages.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long NVDA. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Should You Buy, Sell, Or Hold These 7 Medical Cannabis Stocks? * 7 Strong Buy Stocks With Over 20% Upside * 7 Reasons Stock Buybacks Should Be Illegal Compare Brokers The post 6 Top Stocks to Trade Tuesday, Including Canopy Growth appeared first on InvestorPlace.
Canopy Growth Corp (NYSE: CGC), Canada's largest cannabis producer, said it had improved retail availability as it reported a surge in revenue from the country's newly legal recreational market. The Ontario-based company reported revenue of C$83 million, a 282 percent increase, in its third quarter 2018 results in largely driven by the market for recreational marijuana, which became legal in October 2018. The company sold just more than 22,000 pounds of cannabis products during the quarter, which ended December 31.
On the policy front, the European Parliament passed a resolution recommending nations in the European Union revise their laws around medical marijuana to better support research and patient access. In domestic news, Members of the House Financial Services Subcommittee on Financial Institutions and Consumer Protection heard testimony Wednesday from several representatives in support of legislation that would make it easier for banks to work with legal cannabis businesses without fear of federal prosecution. “This week's hearing by Congress on cannabis banking shows that newly elected politicians are willing to make some progress with regards to legislation,” Debra Borchardt, CEO of Green Market Report, told Benzinga.
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.
Canopy Growth reported third-quarter earnings that missed some estimates. But Canopy Growth stock rose Friday as did most marijuana stocks.
fourth-quarter earnings largely were in line with analysts' forecasts, but the soda and snacks maker said 2019 earnings would fall as the company boosts investments in some of its key consumer products. rose 1.82% after the chip company posted stronger-than-expected fourth-quarter earnings and said sales for its current financial year would top forecasts as key markets in China recover from their current slump.
Canopy Growth Corp shares closed Friday's session up 3.06% to $47.53 after the Canadian pot company reported a 283% increase in fiscal third-quarter revenue to C$83.1 million. While the company failed to meet analysts' bottom-line expectations due to an accounting quirk that chopped C$185.
After a fantastic Q3 performance, Bruce Linton paints a glowing picture of what's to come for the big marijuana company.
If you own a stake in Tilray (NASDAQ:TLRY) and want to know what's going to make or break Tilray stock following its upcoming quarterly earnings report, look no further than the responses to quarterly reports from rivals Aurora Cannabis (NYSE:ACB) and Canopy Growth (NYSE:CGC). Investors, professionals and amateurs alike, have already indicated what annoys and delights them.There's no certainty as to when that announcement might be made, to be clear. Given the company's prior announcement cadence, it was widely presumed the news would drop on Feb. 13. It didn't.Also noteworthy is the timing of Canopy Growth's report, which was posted late in the night on Feb. 14, just beating its regulatory deadline. Tilray's post could surface at any time, without warning, if Canopy's timing is any indication.InvestorPlace - Stock Market News, Stock Advice & Trading TipsEvery hour between now and when that happens, though, is an hour owners of TLRY stock can use to better figure out what's making pot stocks tick. Cannabis Industry's Hot ButtonsThe responses to the quarterly numbers for the cannabis industry's most recognizable names thus far has been mixed. * 10 Hot Stocks Leading the Market's Blitz Higher More than that, however, it has been surprisingly muted given the mania that surrounded these names in the latter half of last year. Canopy Growth stock was up measurably but modestly on Friday following Thursday evening's post, while shares of Aurora Cannabis have slumped somewhat since delivering last quarter's numbers on Monday, Feb. 11.The market has made it clear how it's judging marijuana stocks, however. Chief among the concerns? Believe it or not, profitability … sort of.Nobody really expected any cannabis startup to turn a GAAP profit last quarter, even though Canada's legalization in October led to triple-digit revenue growth. All of the key names in the business are spending briskly on acquisitions, positioning for the day when market share matters.Still, it has already become a part of the discussion. Canaccord Genuity analyst Matt Bottomley made a point of pointing out Canopy Growth's gross margins fell sequentially, from 28% to 22%.In that same vein, Cowen analyst Vivien Azer wrote "WEED [Canopy Growth's Canadian ticker] net revenues of $83 mm were up 256% sequentially, and in line with consensus, which is a relief given the meaningful miss last quarter. The offset, however, seems to be an absence of production efficiencies as cash COGS (cost of goods sold) / gram continued to climb, and was $5.11 in the quarter, a far cry from the $2-3 we see from WEED's peers."The fact that such matters are being discussed so soon is telling. Companies Controlling the NarrativeCanopy's $75.1 billion (Canadian) EBITDA loss was tough to overlook versus the $5.6 billion (again, Canadian) EBITDA loss suffered in the same quarter a year earlier against a backdrop of the 282% year-over-year improvement in revenue.Nevertheless, the industry has learned quickly the importance of managing perceptions. CFO Timothy Saunders redirected investors' attention to the EBITDA figure, which abated some of the company's net loss that includes stock-based compensation expense. That figure looked considerably healthier than the GAAP bottom line.Canopy's quarterly report also conceded, perhaps preemptively, that the average selling price of dried leaves fell from $8.30 (Canadian) per gram a year ago to $7.33 per gram last quarter. That company added, however, that it expects pricing to stabilize in the foreseeable future.The price declines subtly rekindle concerns that the bigger the marijuana industry becomes, the more commoditized it will become, ultimately launching a price war. Small and poorly-funded companies that spend too aggressively to secure market share may find lower pricing power makes it difficult, if not impossible, to service all their debt and justify bloated, complicated organizational structures.Aurora's official statement acknowledged the same, explaining "The decrease [in gross margin] was primarily due to a lower average selling price per gram of dried cannabis, the impact of excise taxes on medical cannabis net revenues, and a temporarily lower proportion of cannabis oil sales in the company's sales mix ratio."To that end, Aurora's gross margin on cannabis sales fell sequentially from 70% to 54%, and were down from 63% in the comparable quarter a year earlier. Like Canopy Growth though, Aurora was sure to suggest the trend was a temporary one.These organizations have already learned the importance of managing narratives. Tilray's effort to do the same will be worth noting. Looking Ahead for Tilray StockThey're metrics that seemingly hadn't mattered until now. To date, fans and followers of marijuana's legalization movement were content to let the premise of pot be enough to justify ownership of these names. Perhaps more keenly aware than usual that all of this capital consumption has to be justified sooner or later though, the market has imposed some pretty traditional criteria on the relatively young industry's stocks.As for Tilray stock, as of the latest look, the small group of analysts following it are calling for a top line of $12.8 million to lead to a per-share loss of 14 cents for the recently ended quarter.Undoubtedly investors will pass some degree of judgment based on how the company's results match up to expectations. More than that, though, it looks as if the market is already willing to weigh pot stocks on more meaningful measures like margins, pricing power and efficiency. Tilray doesn't have to turn a profit, but it does have to stack up against its competitors.That happened much sooner than it normally has for other "new" industries.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Should You Buy, Sell, Or Hold These 7 Medical Cannabis Stocks? * 7 Strong Buy Stocks With Over 20% Upside * 7 Reasons Stock Buybacks Should Be Illegal Compare Brokers The post Tilray Stock's Quarter Will Be Seriously Judged, Like Its Rivals appeared first on InvestorPlace.