18.65 0.00 (0.00%)
After hours: 7:52PM EST
|Bid||18.65 x 1000|
|Ask||18.73 x 800|
|Day's Range||18.43 - 18.80|
|52 Week Range||13.81 - 52.74|
|Beta (3Y Monthly)||3.80|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
On Tuesday, Canadian business news network BNN Bloomberg reported Canopy Growth—the world’s largest legal cannabis company, worth about $6.4 billion—quietly launched its new CBD brand, called First & Free. On its website, the brand is selling capsules and tinctures for prices ranging from $14.99 to $64.99 to customers in 31 US states, and says a cream will be coming soon. In Canada, Canopy operates well-known cannabis brands and retailers including Tweed and Tokyo Smoke, and in November announced new cannabis-infused chocolates, beverages, and vapes—all newly legal categories for the Canadian market.
Last week, Canopy Growth Corporation (TSX:WEED)(NYSE: CGC ) formally unveiled its line of products set for " cannabis 2.0 ." The company projects that in the majority of Canadian markets, new ...
You know about CBD, but have you heard of BHO? The cannabis industry is set for exponential growth, and anyone interested in taking part in new investment opportunities should be familiar with some of the most common cannabis industry terms.
NEW YORK, NY / ACCESSWIRE / December 6, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. Allegations against CC include that: (1) Chemours had not appropriately accounted and accrued reserves for its environmental liabilities; (2) the possibility of costs exceeding accrued amounts was greater than the Company had represented to a point that could be material; (3) the Company's policies, standards and procedures were not properly designed to prevent unreasonable risk of harm to people and the environment (4) Chemours' handling, manufacture, use, and disposal of hazardous substances was not in accordance with applicable environmental laws and regulations; and (5) as a result of these misrepresentations, Chemours shares traded at artificially inflated prices.
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.
Robbins Geller Rudman & Dowd LLP announces that a securities class action lawsuit has been filed in the District of New Jersey on behalf of purchasers of Canopy Growth Corporation (NYSE:CGC) securities between June 21, 2019 and November 13, 2019 (the "Class Period"). The case is captioned Ortiz v. Canopy Growth Corporation, No. 19-cv-20543, and is assigned to Judge Kevin McNulty. The Canopy Growth securities class action lawsuit charges Canopy Growth and certain of its officers with violations of the Securities Exchange Act of 1934.
Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) officially revealed its Cannabis 2.0 portfolio of products last week, set to come to market as part of the second wave of Canadian cannabis commercialization. With December 16, 2019, being the first date new product formats can be sold into distribution channels, the Company expects that in most markets new products will not be seen on shelves until early in January 2020. Leveraging learnings from Cannabis 1.0, the Company will stagger its launch of various products and formats to ensure a smooth roll-out. As such, availability will vary by province based on their individual ordering and distribution activities. While the Company is providing this update in advance of the launch of Cannabis 2.0 products, for competitive reasons, it will not provide ongoing updates during the actual rollout period.
MKM Partners is worried by a lack of activity in the company’s product lines ahead of Dec. 17, when pot-infused drinks, edibles, and other products become legal in Canada.
Hagens Berman urges Canopy Growth Corporation (CGC) investors who have suffered losses in excess of $100,000 to submit their losses now to learn if they qualify to recover compensable damages. The complaint alleges that throughout the Class Period Defendants misrepresented and failed to disclose that: (1) the Company was experiencing weak demand for its softgel and oil products; (2) as a result, the Company would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory; and (3) due to the foregoing, Defendants’ statements about Canopy’s receivables, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Canopy Growth Inc. (NYSE: CGC ) (TSE:WEED) recently announced its new product line amid Canada's "cannabis 2.0" launch this month. Here's what the sell-side thinks. The Analysts Bank of America ...
Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Canopy Growth Corporation
NEW ORLEANS, Dec. 04, 2019 -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors of pending.
Canopy Growth Corp (NYSE: CGC) has set its first foot into the U.S. CBD market, with the launch of First & Free, a hemp-CBD line aimed at the U.S. consumer markets. Although the Canada-based company didn't make an official announcement, BNN Bloomberg confirmed that First & Free, whose website went live on Wednesday, is an official brand of Canopy Growth, as stated in the website’s terms of service. The launch is Canopy’s first immersion into the U.S. cannabis market, which comes a few months after the company’s shareholders approved the acquisition of Acreage Holdings (OTC: ACRGF) for $3.4 billion.
NEW YORK, NY / ACCESSWIRE / December 4, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine ...
There has been a lot of hype concerning what has been dubbed Cannabis 2.0 in Canada, as the country legalized a variety of derivatives that are expected to boost revenue and earnings of companies successfully navigating the new waters.The first thing to keep in mind concerning Cannabis 2.0 is that even though it went into effect in Canada in October, a required 60-day notice sent to Health Canada announcing intent of companies to sell the derivatives means they won't be allowed to start selling until the last couple of weeks of December. That means there won't be a lot of impact or feedback on the potential of derivative products until the end of the first calendar quarter of 2020.Another thing to take into account is with the legalization of recreational pot in Canada in 2018, it only included legal sales of sprays, oils, and dried flower. With the launching of Cannabis 2.0, it includes vapes, edibles (like chocolates, cookies and gummies), and infused beverages like juices and beer, among other product lines.Over time, this should produce a significant increase in revenue and earnings because of wider margins associated with these products.A key thing to consider here is that the introduction of legal recreational pot sales in Canada appealed to long-term cannabis users. With the advent of new consumption options, it should attract new users that weren't comfortable with the way illegal pot had been consumed, even though it has been legalized.While it'll take time to prove my thesis, I think edibles will probably be the largest contributor to the improved performance of Canadian cannabis companies, including the big three being covered in this article.In this article we'll look at the three largest cannabis producers in Canada, and what to expect from them in regard to the potential impact on their top and bottom lines.Aurora Cannabis (ACB)As with most cannabis companies, Aurora Cannabis has been under enormous pressure since early 2019; that's especially true of companies competing in Canada, because of the low number or retail outlets to sell their product out of. That's changing, but it'll take time for enough stores to open to make a big difference in the performance of Aurora.Consequently, the company has halted construction on a couple of its facilities until there are enough stores opened that can meet demand. The overall issue hasn't been too much supply, but not enough places to sell legal pot out of.For that reason, the black market continues to thrive in Canada, and will until legal outlets provide more competition.As Aurora starts to sell its line of derivatives, and the number of stores grow, it'll have a strong impact on revenue and earnings.Concerning production capacity, it can quickly finish off its facilities and ramp up capacity to over 700,000 kilograms annually. Based upon its existing assets, it could do more than that if demand justifies it.I believe as demand grows for derivatives, the market will want reliable and consistent sources of supply in order to have predictable product available at the retail level. Aurora will be one of the leaders in that regard. (See Aurora stock analysis on TipRanks)Canopy Growth (CGC)Canopy Growth has the potential to reach production capacity of a little over 500,000 kilograms annually, and so is well positioned to capture meaningful market share of the Canadian cannabis derivative market.A concern with Canopy remains its lack of a permanent CEO, which to me has resulted in a lack of focus, which has produced weak results. For example, it made a poor decision in relationship to what types of CBD oils to sell, which didn't perform near to expectations in the latest quarter.The big mistake made by Canopy in the first couple of quarters after recreational pot legalization in Canada was that consumers preferred to go with softgels and oils. The thinking was because many medical cannabis users preferred those means of consumption, so would recreational users. The company was wrong. Product returns and huge discounts on recreational oils has resulted in hot of over C$40 million over the last couple of reporting periods.Assuming Canopy can get its act together, it does have the production capacity base to take some market share in derivatives, but it has to make decisions based upon much more accurate research and data in order to improve its performance.The idea of it having a lot of cash to back it up is getting old; after all, how much has it helped its performance so far? Being able to survive longer than many of its peers is much different than growing and taking market share on a sustainable basis. (Discover how the overall price target for Canopy breaks down on TipRanks here)Aphria (APHA)Aphria, the third-largest Canadian cannabis company as measured by production capacity, will be able to, with the combination of Aphria One, Broken Coast, and Aphria Diamond, produce up to 255,000 kilograms of cannabis annually.With that capacity, it could generate up to $700 million of sales in fiscal 2020.With most of its performance coming from non-operational sources, the company has yet to prove it can be profitable from cannabis sales alone. For that reason, it's not as strong as has been suggested in the financial media, and needs to show stronger operational results in the quarters ahead.Aphria does have a strong balance sheet of cash and cash equivalents of about $464.3 million, which will allow it to not only survive, but potentially thrive if it's able to build out a solid distribution network over the next year. (See Aphria stock analysis on TipRanks)ConclusionThere is no doubt Aurora Cannabis, Canopy Growth and Aphria will be able to generate a significant amount of cannabis supply going forward. The major issues will include the pace of the roll out of license retail stores, how quickly market demand for derivatives will grow, and the amount of black market share these companies will win.On the positive side, I see many smaller companies dropping by the wayside in 2020, bringing more opportunity for these big three Canadian producers to grab more market share.Assuming the black market starts to shrink, that will remove a lot of lower-cost recreational pot from the market as well.For these reasons, I see the big three Canadian producers turning things around in 2020. What investors should take into account is this isn't going to happen in the first quarter, it's going to take at least to the second calendar quarter before we get a clear look at what is and isn't working with derivatives.We also have to see how accurately the marketing teams of these companies identify what consumers want. Canopy Growth has proven you can miss big in a segment of the market that was expected to do very well for the company.Last, I believe retailers will increasingly look to suppliers that can consistently deliver quality product on time. Aphria, Canopy Growth and Aurora Cannabis shouldn't have problems achieving those results.Cannabis 2.0 has the potential to be a real game changer for these three companies. If they deliver the goods, by the end of 2020 it should find them all reaching sustainable profitability for long into the future.To find good ideas for cannabis stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
NEW YORK, NY / ACCESSWIRE / December 4, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Canopy Growth Corporation ("Canopy" or the "Company") (CGC). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. The investigation concerns whether Canopy and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
Canopy Growth (NYSE:CGC), with a $6.5 billion market capitalization, and 2.7 billion CAD in cash, remains better positioned than most of its peers.Source: Shutterstock Nonetheless, like most other marijuana equities, it continues in a downtrend. Worse, little on the horizon has appeared that could keep Canopy around. This decline could bring a grim scenario that would prevent most of Canopy Growth's long-term success from accruing to shareholders.In late October, I urged investors not to trust the rally in the high-flying pot stock. It would go on to lose about one-third of its value in a post-earnings plunge before bouncing off its lows. At the current stock price near $18.70 per share, it has lost about 10% of its value since I made that prediction. Unfortunately for Canopy Growth bulls, it continues to trade below the 50-day moving average.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company also remains in limbo in the C-suite. Canopy Growth investor Constellation Brands (NYSE:STZ) used its influence to oust the company's founder from the CEO position in July. Since that time, it has not found a permanent replacement. As InvestorPlace's Will Ashworth mentions, it may even miss its self-imposed deadline to appoint a new CEO by the end of 2019. Constellation and Canopy GrowthStill, Constellation has made Canopy Growth what it is today. Thanks to Constellation's investments, the cannabis name still holds one of the strongest balance sheets in the industry. Canopy's size and remaining funds leave it well-positioned despite analyst projections of continuing losses. * 9 Tech Stocks You Wish You'd Bought During 2019 However, this could go poorly for shareholders. The reason why is that stock declines place Constellation in a better position to buy Canopy Growth outright.Yes, Constellation recently stated it would not provide additional cash outside of the exercise of warrants. Nonetheless, as things stand now, Constellation already owns 38% of the company. Moreover, as people drink less, revenues for STZ have fallen, and profits have not increased significantly. Hence, Constellation needs cannabis to return it to consistent growth. Buyout DangerThis could hurt investors as any buyout could come at a much lower stock price. Despite losing nearly two-thirds of its value since the spring, Canopy trades at levels too high for fundamentals to rescue it. The stock sells at almost 25 times sales. That far exceeds Constellation's price-to-sales ratio of 4.3 and that of Altria (NYSE:MO), which trades close to 4.7 time sales.I do not think Canopy will fall to a comparable P/S ratio anytime soon. However, in a buyout situation, the growth investors who bought Canopy Growth would exchange it for a slower-growth, dividend-producing investment. This means equity losses, which mounted quickly, could take years to recover.As mentioned before, I think Constellation's cash will help Canopy Growth weather a downturn in cannabis equities. However, the potential for a buyout at a lower price means reduced profits or steeper losses for shareholders. For this reason, I would think twice about investing in marijuana with Canopy Growth. The Bottom Line on Canopy GrowthA buyout by Constellation could hamper the growth potential of Canopy. Marijuana equities have sold off sharply since the spring as a weed supply glut and legal barriers have forced cannabis companies to revise revenue and earnings forecasts downward. This has hammered marijuana stocks, Canopy Growth included.However, Constellation's firing of Canopy's previous CEO points to its power in the company. Moreover, Constellation needs marijuana to reinvigorate sales and earnings growth. Such conditions point to a likely takeover, especially if the pot stock falls to a much lower price.Such a move means two things for current shareholders. Not only will they have sustained massive losses in a volatile stock, but they will also have to recover those losses in a slow-growth equity. This means it could take years to recover their investment.Since the attributes of Canopy Growth may not accrue to shareholders, investors should consider avoiding this stock.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Tech Stocks You Wish You'd Bought During 2019 * 5 Under-the-Radar Marijuana Stocks With Over 100% Upside * Watch These 5 STARS Stocks as They Change the Future The post A Constellation Buyout Would Harm Canopy Growth Shareholders appeared first on InvestorPlace.
Not long ago, Akerna Corp. (NASDAQ:KERN) would have been a perfect mash-up of two industries - that is, cloud software and the cannabis sector. However, as seen in the past few months, the second half of the story has gone south. The cannabis industry has been in a grueling tailspin, as seen with the performance of operators like Tilray (NASDAQ:TLRY), Cronos Group (NASDAQ:CRON) and Canopy Growth (NYSE:CGC).Source: Shutterstock So as should be no surprise, Akerna stock has been quite volatile. The company went public in mid-June on the NASDAQ after an eight-month due diligence process with the exchange. On the first day of trading, KERN stock shot up above $15. However, as of today, the shares are trading at $9. * 9 Tech Stocks You Wish You'd Bought During 2019 Consider that becoming public was not through a traditional IPO. Rather, Akerna merged into a SPAC (special purpose acquisition company), called MTech Acquisition.InvestorPlace - Stock Market News, Stock Advice & Trading TipsYet regardless of all this, what are the prospects for the company? Could KERN stock be a good way to play the cannabis sector? Akerna Stock's BackgroundAkerna's origins go back to Jessica Billingsley, who saw how technology could transform the cannabis market. Prior to this, she had a successful career, having started her first company when she was only 22-years-old.There are several parts of the Akerna platform. First, there is the MJ Freeway application that provides a seed-to-sale management tracking system for state-licensed dispensaries, cultivators, manufacturers and distributors. Think of it as ERP (Enterprise Resource Planning) for inventory and legal compliance. True, there are many other management systems on the market, like from Oracle (NYSE:ORCL) and Workday (NYSE:WDAY), but they do not handle the intricacies of the cannabis business.Next, Akerna has Leaf Data Systems. This is focused on government agencies that need assistance with managing the complex regulations. The Leaf Data Systems application helps to effectively track plant, product and waste, allowing for maintaining quality standards.In the latest earnings call, Billingsley noted: "For nearly 10 years, we have refined a technology that pinpoints every aspect of every gram of cannabis trapped in our system. The plot of land that is grown on soil nutrients, water and light intake, additional ingredients for manufactured product, when it was shipped out and in what batch and finally, where and when the product was sold and to whom." Bottom Line On KERN StockEven though Akerna is targeting an interesting category, there are some issues to keep in mind. First of all, monetization could prove difficult in the coming months. With the shakeout in the cannabis market, there will be fewer resources to make investments in new technologies.Next, the government market is far from easy. The sales cycles can be long and the budgets are usually tight. What's more, as of June 30, about 39% of Akerna's revenues actually came from the government agencies of Pennsylvania and Washington. Akerna recently snagged Utah as a customer.According to a recent regulatory filing with the SEC: "Further, even if a contract is awarded, there are strict procedures that government agencies follow when it comes to reimbursement of the costs incurred in the course of fulfilling contracts. Accordingly, it is possible that some or all costs might not be reimbursed under a government contract as contemplated by us."And finally, the revenue base is fairly small for a public company. In the most recent quarter, the top line hit $3.2 million, up about 39%.Given the uncertainty in the cannabis market and the difficulties with government contracting, growth could be choppy. Thus for now, it's a good idea to be cautious on KERN stock.Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. 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 * 9 Tech Stocks You Wish You'd Bought During 2019 * 5 Under-the-Radar Marijuana Stocks With Over 100% Upside * Watch These 5 STARS Stocks as They Change the Future The post Is It Too Early to Play the Cannabis Sector With KERN Stock? appeared first on InvestorPlace.
The past two years have been the best of times and the worst of times for Canada's biggest cannabis producer, Canopy Growth (NYSE:CGC). In 2018, Canopy Growth stock exploded onto the scene as a hugely popular growth company that was a pioneer of the potentially massive legal cannabis market. CGC stock roared from about $20 to roughly $60, thanks to the nationwide legalization of cannabis in Canada as well as a multi-billion dollar investment from alcoholic beverage giant Constellation Brands (NYSE:STZ).`Source: Shutterstock But 2019 has played out very differently for Canopy Growth stock. Canopy has gone from a hugely popular growth company to a poster child for bubble stocks, as the stock's stretched valuation has crumbled under the weight of a choppy legal cannabis rollout in Canada, slower-than-expected cannabis legalization elsewhere, and an array of cash burn, margin, and profitability concerns.Ultimately, CGC stock dropped from a $50-plus high in early May to a sub-$20 price tag in December.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFortunately for the owners of Canopy Growth stock, 2019 is almost over, and 2020 could usher in a new (and better) era for Canopy Growth. Specifically, there are three reasons to believe that CGC stock will rebound a great deal over the next 12 months. Further, the numbers indicate that if the tide does turn in the near-term, Canopy Growth stock could nearly double. Three Reasons Why Canopy Growth Can ReboundFirst, the conditions of the cannabis market in Canada should improve. Legal fees, distribution hiccups, and supply constraints have killed demand in the legal Canadian cannabis market in 2019. Legal fees will stick around. But distribution hiccups should fade in 2020 as producers gain more experience. Canopy's supply constraints should also ease, since Canopy has dramatically expanded its capacity and increased its growth potential. The launch of new marijuana products, including vapes, edibles, and beverages, should supercharge demand for legal cannabis in 2020. * 9 Tech Stocks You Wish You'd Bought During 2019 Second, the U.S. should make meaningful progress towards cannabis legalization. Canopy has made a big bet on the legalization of cannabis in the U.S. Unfortunately, very little progress was made on that front in 2019. But in November, the House Judiciary Committee approved the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. While the vote was not super meaningful by itself, it sets the stage in 2020 for the Senate to pass the MORE Act and make weed completely legal in the U.S.Third, the positioning of CGC stock has improved in every way. Coming into 2019, Canopy Growth stock was flying high, investors were bullish on it, analysts' estimates for CGC were being hiked to unreachable levels, and its valuation was at historic highs.The stock was positioned to crater on bad news. Exiting 2019, CGC stock is crashing to multi-year lows, investor sentiment towards Canopy Growth stock is bearish, Wall Street estimates have tumbled to more beatable levels, and its valuation is as low as it's been since Canada legalized cannabis. Now CGC stock is positioned to roar on good news. Canopy Growth Stock Could Double in 2020Canopy Growth's long-term profit outlook indicates that CGC stock should trade around $34 in 2020. So if the Street becomes more upbeat on Canopy Growth stock, then the shares could nearly double over the next 12 months.My estimates, based on market data from BDS Analytics, estimate Canopy Growth's share of the legal global cannabis market at just under 2% in 2019. But CGC has a minimal presence outside of Canada, and zero presence in the world's biggest market, the U.S. The legal global cannabis market is projected to grow at a nearly 25% annualized clip to $32 billion by 2022. Yet most market research firms peg the global addressable market for cannabis at somewhere north of $200 billion.Thus, the legal cannabis market will keep growing at a robust rate into 2030. Realistically, I think the market will increase about 15% per year to over $90 billion by 2030. Canopy should control about 10% of that market, with expansion in the U.S. market accounting for the bulk of its market share gains. If CGC reaches that plateau, its 2030 sales will be about $9 billion-plus.At the same time, its gross margins should improve as demand for its products ramps up and black market competition eases. Sustained high revenue growth will increase its profitability. Its profit margins should ultimately be very impressive, reaching levels similar to those of the tobacco and alcoholic beverage industries.Putting all that together, I estimate that Canopy's earnings per share could reach $5 by 2030. Based on a forward earnings multiple of 16, which is average for the market, that yields a $100 price target for CGC stock by 2029. Discounted back by 10% per year, that equates to a 2020 price target of about $34. The Bottom Line on CGC StockAs we head into the final month of what has been a disastrous year for Canopy Growth stock, there's reason to be cautiously optimistic that the shares will rebound tremendously in 2020. Those who buy CGC below the $20 level should be rewarded handsomely in the long-run.As of this writing, Luke Lango was long CGC. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Tech Stocks You Wish You'd Bought During 2019 * 5 Under-the-Radar Marijuana Stocks With Over 100% Upside * Watch These 5 STARS Stocks as They Change the Future The post Why Canopy Growth Stock Could Rebound Tremendously in 2020 appeared first on InvestorPlace.
Little known Chicago-area brewery takes over iconic San Diego beer brand for undisclosed sum less than five years after it was bought for a record price.
The opioid crisis is one of the biggest and most controversial stories in the past decade. Over the years, the U.S. advocated for more legalization of marijuana and has seen strong growth from the cannabis market. Yahoo Finance’s The Final Round break down the impact of marijuana and assess the opioid crisis.