44.46 -0.08 (-0.18%)
After hours: 7:56PM EST
|Bid||0.00 x 900|
|Ask||0.00 x 1400|
|Day's Range||44.02 - 45.74|
|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 Corp (NYSE: CGC), the largest cannabis company in the world by market cap, took the spotlight in the weed world this week when it reported fiscal third-quarter and nine-month earnings — and disclosed an error in a key metric a few days later. “The $86-million spreadsheet error in the earnings report by Canopy Growth this week is really unsettling,” Green Market Report CEO Debra Borchardt told Benzinga. Following the results, GMP Securities' Martin Landry downgraded Canopy Growth’s Toronto-listed stock from Buy to Hold with a price target lowered from CA$70 ($52.87) to CA$65 ($49.09). Read more about it here.
Pot stocks are soaring again. To learn more about risks and rewards of investing in marijuana stocks and ETFs, check out this Exploring ETFs video.
“I do not wish to continue to be complemented on the extraordinarily clean balance sheet I have,” Bruce Linton said in a phone interview Friday. Linton estimated that Canopy has “more than a couple billion dollars” of tangible assets and very little debt on its balance sheet.
Canopy Growth (NYSE: CGC ), the cannabis industry's largest company by market value, refiled its third-quarter management discussion and analysis, or MD&A, on Thursday due to a spreadsheet formula error. ...
HENDERSON, NV / ACCESSWIRE / February 22, 2019 / Arcview Market Research and BDS Analytics, forecast global marijuana sales to rise by 38% to $16.9 billion in 2019. By 2022, we could see $31 billion in ...
KushCo Holdings, Curaleaf Holdings and Acreage Holdings are beloved by the momentum crowd, but not by professional investors.
Cannabis News Alimentation Couche-Tard (TSX: ATD.A) (TSX: ATD.B) has signed a deal with Canopy Growth (TSX: WEED) (NYSE: CGC) to launch a premium cannabis retail brand in London, Ontario. Located at 1025 Wellington Road in London, the licensed Tweed store is expected to open in April. Canadians for Fair Access to Medical Marijuana (CFAMM), a […]The post Cannabis Stock News Daily Roundup February 22 appeared first on Market Exclusive.
SMITHS FALLS, ON , Feb. 22, 2019 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO) (CGC) is pleased to announce the appointment of Dr. Danial Schecter as Director of Global Medical Services. Dr. Schecter is widely recognized as an expert in the clinical use of medical cannabis and will use his experience to expand the Company's network of partner healthcare clinics and support doctors and patients who understand the value of cannabis as medicine.
Green Growth Brands Expands with Two New ShopsGreen Growth Brands opened two new shopsOn February 21, Green Growth Brands (GGBXF) announced that it opened two new Seventh Sense CBD shops. One shop is in Glenbrook Square in Fort Wayne, Indiana.
LAVAL, QC and SMITHS FALLS, ON, Feb. 21, 2019 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Alimentation-Couche-Tard") (TSX:ATD.A) (TSX:ATD.B) has entered into a multi-year agreement with Canopy Growth Corporation ("Canopy Growth") (WEED.TO) (CGC). Subsequent to this newly formed strategic partnership, and pending the results of a public-consultation process, Alimentation Couche-Tard is excited to announce it has entered into a trademark license agreement with one of the winners of the Alcohol and Gaming Commission of Ontario's (the "AGCO") Expression of Interest Application Lottery, who will operate a "Tweed" branded retail store in London, Ontario, once the process is complete. The lottery winner will have full ownership and control over the London store.
LAVAL, QC and SMITHS FALLS, ON, Feb. 21, 2019 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Alimentation Couche-Tard") (TSX:ATD.A) (TSX:ATD.B) has entered into a multi-year agreement with Canopy Growth Corporation ("Canopy Growth") (WEED.TO) (NYSE: CGC). Subsequent to this newly formed strategic partnership, and pending the results of a public-consultation process, Couche-Tard is excited to announce it has entered into a trademark license agreement with one of the winners of the Alcohol and Gaming Commission of Ontario's (the "AGCO") Expression of Interest Application Lottery, who will operate a "Tweed" branded retail store in London, Ontario once the process is complete. The lottery winner will have full ownership and control over the London store.
The Nasdaq snapped a eight-session winning streak. Pinterest, Inc., one of the only still-private large social media companies, has confidentially filed for an initial public offering, the Wall Street Journal has reported, citing sources familiar with the matter. The company is seeking a $12 billion valuation on the offering, and is aiming to go public in June of 2019, according to the Journal's sources.
Green Thumb Industries Acquires For Success Holding CompanyGreen Thumb Industries closes its acquisition of For Success Holding CompanyToday, in a press release, Green Thumb Industries (GTBIF) announced that it has completed its acquisition of For
First it was bitcoin that made investors go on a mad rush, and today, it's marijuana. Now that legalization is steadily gaining traction across the U.S., more investors than ever before are looking for ways to cash in.
Aurora Cannabis (NYSE:ACB) has pulled back in recent days. ACB stock sold off on a mildly disappointing earnings report and the reshuffling of its board of directors. Furthermore, it faces concerns as many of its peers have moved into the U.S. hemp market ahead of them. However, given production increases and the likelihood of entering the U.S. market soon, I expect Aurora stock to move higher in the near term.Source: Shutterstock By just about any measure, ACB stock appears expensive. The equity trades at over 56 times sales. Its forward P/E ratio also exceeds 300. Its saving grace is that the other three Canadian cannabis companies among the top four -- Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY), and Cronos (NASDAQ:CRON) -- see similarly outsized financial metrics. These stocks also cratered after marijuana gained official legal status in Canada. Fortunately for ACB and its peers, the pre-legalization hype returns as the U.S. moves toward nationwide legalization. The Farm Bill signed late last year legalized industrial hemp. This is the segue Canadian companies have begun to use to enter the U.S. market. As more states adopt medical and recreational weed, both the legalization and the stock price hype continue to build. Concerns Remain for ACB StockAdmittedly, investors who have become paranoid from too much recreational weed use can find reasons to panic. The Q2 earnings report became a slight disappointment due to excise taxes and lowered net pricing. Moreover, Tilray's decision to purchase Manitoba Harvest makes it the largest Canadian player in the U.S. hemp industry. This has caused some concern as Aurora has not yet moved into the U.S. hemp market.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The 10 Best Cheap Stocks to Buy Right Now Changes in its board of directors may also cause concern. However, this was mostly current board members shifting positions on the board. Chairman of the board Michael Singer is now executive chairman. This will involve Mr. Singer more in the firm's day-to-day operations.Still, all this news led to a muted reaction. ACB stock price fell from the mid-$7 per share range to around $7 per share. While I do not think I would classify this as a "buying opportunity," I also do not see any of this news as a reason to sell ACB stock. The new board arrangement could help the company. Moreover, given Canopy's and Tilray's moves into the U.S. hemp market, Aurora will probably follow suit soon.Moreover, Aurora increased production by 502% on a year-over-year basis, higher than Canopy's 334% increase. Canopy still produced 10,102 kg in the prior quarter, higher than Aurora's 6,999 kg. Still, production increases continue as legal weed remains in short supply.A bigger question for investors likely involves not whether ACB stock will rise, but whether it will outperform its peers. Although I expect Aurora stock to perform well, it is not my favorite in the sector. In this industry, I recommend one of two things. I would either choose Canopy or Tilray as they are the top two stocks. Or, I would go with a relative value play such as HEXO (NYSEAMERICAN:HEXO) or CannTrust (NYSE:CTST). Their comparatively low P/E ratios make them possible buyout candidates. If that does not happen, they could catch up to larger peers on valuation over time. The Bottom Line on ACB StockNonetheless, Aurora should move higher soon due to production increases and a likely move into the new U.S. hemp market. Yes, earnings slightly disappointed investors. And the lack of an announcement on U.S. hemp may also concern some investors. Even if a CGC or a TLRY become a better buy, I see ACB stock moving higher.Yes, it is expensive, but so are most of its peers. Legal cannabis remains in short supply, and Aurora continues to increase production. Also, assuming it wants to remain among the four largest cannabis stocks, one can safely assume that plans are underway to enter the U.S. hemp market. * 7 Healthy Dividend Stocks to Buy for Extra Stability For these reasons, I do not think stockholders should worry about whether Aurora will rise. I think the bigger question involves whether ACB will perform better than its peers? Only time can answer that question.As of this writing, Will Healy is long CTST stock. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Smart Money Stocks to Buy Now * The 10 Best Cheap Stocks to Buy Right Now * 7 Restaurant Stocks to Watch in 2019 Compare Brokers The post Can Aurora Cannabis Stock Get as High as Its Peers? appeared first on InvestorPlace.
Company says a formula error in a spreadsheet led it to overstate one metric, highlighting some of the teething problems showing up in the early days of the new legal sector.
shares were down 2.6% Thursday to $45.06 after the Canadian cannabis company filed an amended third-quarter report, significantly widening its adjusted EBITDA loss. The cannabis company posted a oss of 38 cents a share in Canadian currency on revenue after excise taxes of C$83 million. In the same quarter a year ago, Canopy posted earnings of 1 cent a share in Canadian currency on restated revenue of C$22 million.
Constellation Brands, Inc. (NASDAQ: STZ) shares took a hit Wednesday after the company presented at the Consumer Growth Analyst Group of New York (CAGNY) conference this week. Investors seem to be disappointed with the company’s projected earnings growth rates and the negative impact of its recent Canopy Growth Company (NYSE: CGC) investment. Constellation management said its fourth-quarter EPS will take a 10-cent hit thanks to its Canopy investment.
Tilray's deal to acquire the hemp food maker Manitoba Harvest has bolstered the outlook of the already high-flying marijuana ETF.
Canopy Growth Restates Earnings Figure, Stock SinksCanopy GrowthOn February 20, Canopy Growth (WEED) (CGC) issued a press release saying that it had reported an incorrect number for adjusted EBITDA for the nine months that ended on December 31,