CNPOF - Canopy Rivers Inc.

Other OTC - Other OTC Delayed Price. Currency in USD
-0.0100 (-0.31%)
At close: 3:57PM EDT
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Previous Close3.2100
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range3.1400 - 3.2700
52 Week Range1.7500 - 7.3016
Avg. Volume148,240
Market Cap620.797M
Beta (3Y Monthly)N/A
PE Ratio (TTM)12.31
EPS (TTM)0.2600
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Trade prices are not sourced from all markets
  • Why Canopy Growth’s Deals May Not Translate Into Gains for CGC Stock
    InvestorPlace3 days ago

    Why Canopy Growth’s Deals May Not Translate Into Gains for CGC Stock

    Canopy Growth (NYSE:CGC) moved higher after announcing a deal with its investment arm, Canopy Rivers (OTCMKTS:CNPOF). This offers some relief to CGC stock, which had returned to levels not seen since before they announced their buyout intentions on Acreage Holdings (OTCMKTS:ACRGF).Source: Shutterstock Unfortunately, Canopy Growth stock seems to need more. CGC has again sold off after briefly crossing the $50 per share mark in late April. While the deals with Canopy Rivers and Acreage boost the long-term prospects of Canopy Growth Corporation, they also show the difficulty of breaking CGC stock out of its current trading range. Canopy Growth Continues to Improve Market PositioningCanopy Rivers announced that the portfolio company it owns, PharmHouse Inc., will commit more of its production to Canopy Growth. CGC will now buy an additional 20% of PharmHouse's output for the next three years. PharmHouse had previously committed 10% of its flowering space to Canopy Growth.InvestorPlace - Stock Market News, Stock Advice & Trading TipsStill, despite what the PharmHouse deal means to Canopy Growth, much of the focus has settled on mergers and acquisitions (M&A). The latest M&A deal for Canopy involves a buyout of New York-based Acreage Holdings. However, in reality, one could better describe this "agreement" as an option. The deal will not close until recreational weed becomes legal across the U.S. * 7 Stocks to Buy that Lost 10% Last Week I agree with my InvestorPlace colleague Tom Taulli that the alliance with Constellation Brands (NYSE:STZ) alliance holds Canopy Growth in good stead. I also believe the company has positioned itself for a leadership position in the U.S. in both hemp and cannabidiol (CBD). This benefits the firm without regard to what happens with the Acreage deal. I also see Canopy Growth remaining the market leader in North America when U.S.-based companies can operate with full legal status. Investors Should Separate Canopy Growth, CGC stockStill, what helps Canopy Growth may or may not boost Canopy Growth stock. The current hype regarding marijuana stocks renders the price-to-sales (P/S) ratio of around 135X meaningless. However, it also leaves investors without a valuation-based metric with which to evaluate CGC stock.Hence, this leaves investors with the charts as a guide. For all of the hype, Canopy Growth stock has twice pulled back after spiking above $55 per share in intraday trading. In recent weeks, even the Acreage deal could not keep CGC stock above $50 per share. Moreover, since Jan. 15, it has rarely moved below $40 per share or above $50 per share. CGC Stock Has Become Range-BoundDespite its elevated multiple, I do not think it will break through the lower end of the range unless a recession occurs, or the U.S. suddenly makes cannabis legal.For now, traders have focused on when and how CGC stock will break through on the high end of the range. The elevated P/S ratio will struggle to go even higher without further stimulus. However, seeing the rally fizzle after the stock moved past $50 per share could make one wonder whether stimulus truly helps. Moreover, seeing marijuana stocks (including CGC) tank after weed became officially legal in Canada remains fresh on investor's minds. It also shows the strange and powerful phenomenon of illegality driving cannabis equities.Like most, I believe CGC stock will trade at higher levels years from now. However, until we see the stock stay above $55 per share, I do not think that the higher stock price will come in the near term. Final Thoughts on CGC StockCGC stock trades near the high end of its range, and I expect CGC will stay in the range. The PharmHouse deal serves as yet another confirmation that the growth story remains intact for Canopy Growth. However, it will likely not have a material effect on Canopy Growth stock. * 10 Stocks to Sell Before They Tank Your Portfolio Moreover, before the company announced this deal, CGC had fallen back to levels it saw before they announced the Acreage Holdings deal. Simply put, CGC stock has become range-bound.The prospects of the cannabis industry should keep Canopy Growth stock at an elevated multiple in the near term. However, even a major coup such as the Acreage deal has failed to put CGC stock back on a growth trajectory.The Acreage and the PharmHouse deals show that Canopy Growth has both the strategic vision and the product needed to lead the marijuana industry. Unfortunately, translating this insight into near-term growth for Canopy Growth stock will prove more elusive.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 * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy that Lost 10% Last Week * Top 7 Dow Jones Stocks of 2019 -- So Far * 5 Service Stocks That Can Win the Trade War -- According to Goldman Sachs Compare Brokers The post Why Canopy Growth's Deals May Not Translate Into Gains for CGC Stock appeared first on InvestorPlace.

  • PR Newswire3 days ago

    Cannastocks2019 Investor Conference & Webinar Now Available for On-Demand Viewing

    Individual and institutional investors as well as advisors are invited to log-on to to view presentations NEW YORK , May 17, 2019 /PRNewswire/ -- Virtual Investor Conferences, ...

  • Benzinga5 days ago

    Canopy Rivers Invests In UV Crop Yield Enhancement Company

    Unicorn cannabis investment company Canopy Rivers Inc (OTC: CNPOF )(CVE:RIV) has invested $1.5 million in Biolumic, creators of a sustainable UV crop yield enhancement system. This is Canopy River’s first ...

  • Canopy Rivers Backs BioLumic - Shines Light on New AgTech for the Medical Cannabis Industry
    CNW Group5 days ago

    Canopy Rivers Backs BioLumic - Shines Light on New AgTech for the Medical Cannabis Industry

    TORONTO and PALMERSTON NORTH, New Zealand , May 15, 2019 /CNW/ - BioLumic Ltd. ("BioLumic"), creators of a sustainable ultraviolet (UV) crop yield enhancement system, and Canopy Rivers Inc. ("Canopy Rivers") (RIV.V), (CNPOF) today announced a strategic investment from Canopy Rivers. BioLumic extended the Finistere Ventures-led Series A financing round to include Canopy Rivers' strategic investment of US$1.5 million , closing the oversubscribed round at US$6.7 million . This marks Canopy Rivers' first investment in agri-technologies, specifically focused on the promising fields of plant physiology and UV photobiology.

  • CNW Group6 days ago

    Cannastocks2019 Live-Stream Investor Conference & Webinar May 15th

    Cannastocks2019 Live-Stream Investor Conference & Webinar May 15th

  • Canopy Growth announces offtake agreement with PharmHouse
    PR Newswire11 days ago

    Canopy Growth announces offtake agreement with PharmHouse

    SMITHS FALLS, ON, May 9, 2019 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO) (CGC) is pleased to announce today that has signed an offtake agreement with PharmHouse Inc. ("PharmHouse"), a 49 per cent-owned joint venture of Canopy Rivers Inc. (RIV.V) (OTC:CNOPOF). Under the terms of the agreement, PharmHouse has agreed to allocate high quality cannabis flower from an additional 20 per cent of the flowering space available at its Leamington greenhouse facility over the next three years. Boasting 1.3 million square feet of greenhouse grow space, and leveraging the resources of Canopy Growth, Canopy Rivers and its joint venture partner have worked diligently since October 2018 to prepare the facility for licensing.  PharmHouse will leverage Canopy Growth's genetics – selected and supplied by the Company – and flower will be returned to the Company to be sold under Canopy Growth's diverse brands and banners.  Under the terms of the new offtake agreement, PharmHouse is committed to producing GMP-certified, high quality cannabis flower within 18 months of its cultivation license and the flower must comply with the Company's high standards for cannabis quality.

  • Canopy Rivers Announces Significant Supply Agreement Between PharmHouse and Canopy Growth
    CNW Group11 days ago

    Canopy Rivers Announces Significant Supply Agreement Between PharmHouse and Canopy Growth

    TORONTO , May 9, 2019 /CNW/ - Canopy Rivers Inc. ("Canopy Rivers" or the "Company") (RIV.V) (CNPOF) is pleased to announce that its portfolio company PharmHouse Inc. ("PharmHouse") has entered into a second offtake agreement (the "Agreement") with Canopy Growth Corporation ("Canopy Growth") (WEED.TO) (CGC) for the purchase of cannabis from its 1.3 million square foot greenhouse facility upon licensing. The Agreement commits an additional 20% of PharmHouse's flowering space to Canopy Growth for the next three years, in addition to the 10% that was originally committed in May 2018 .

  • PR Newswire13 days ago

    CannaStocks2019 Q1 Investor Conference to be held on Wednesday May 15th at OTC Markets Group

    NEW YORK , May 6, 2019 /PRNewswire/ --  CannaStocks2019 today announced that its Q1 Investor Conference will be held at the OTC Markets Group offices in New York on May 15 th . Participating companies ...

  • PR Newswire17 days ago

    Canopy Rivers congratulates TerrAscend on receiving its EU GMP certification and new distribution agreement

    TORONTO, May 3, 2019 /PRNewswire/ - Canopy Rivers Inc. ("Canopy Rivers" or the "Company") (RIV.V) (CNPOF) congratulates its portfolio company TerrAscend Corp. ("TerrAscend") (TER.CN) (TRSSF) on its announcement yesterday that its facility in Mississauga, Ontario, Canada has been issued a Good Manufacturing Practice ("GMP") certificate in accordance with the rules governing medicinal products in the European Union ("EU"). Only medical cannabis from EU GMP certified facilities, or the equivalent, may be sold in the EU. The regulatory approach has been led by several of the larger EU countries and as such, pharmaceutical grade controls in production were an established requirement from the onset of medical cannabis legalization.

  • Benzingalast month

    4 Pro Takes On How To Pick Cannabis Investments

    Matt Hawkins, managing principal of Cresco Capital, said he would be "scared to death" if tasked with picking compelling investments among public companies. Instead, he said young and private companies looking for Series A financing are the most attractive.

  • Benzingalast month

    Preparing For Toronto: Top Investors To Discuss New Opportunities In Cannabis

    The Benzinga Events team is busy planning for the third Cannabis Capital Conference back in one of our favorite spots and the heart of the cannabis industry—Toronto. The cannabis industry is constantly developing, from market expansions and stock volatility to recent regulations and everything in-between.

  • Benzingalast month

    What You Need To Know Ahead Of The 2019 Cannabis Capital Conference In Toronto

    Benzinga is all geared up to host its third rendition of the Cannabis Capital Conference , full of big-time investors, top industry executives and reporters from around the world. If you haven’t already ...

  • ACCESSWIRE2 months ago

    Watch These Four Marijuana Stocks Push Their Limits on Wednesday

    Following Canada's country-wide legalization back in October 2018, the cannabis industry has used the momentum gained from Canada's legislation to demonstrate, on a global scale, the economic benefits of investing in cannabis companies. Leafbuyer Technologies Inc (OTC:LBUY), Acreage Holdings Inc (ACRGF), Canopy Rivers Inc (OTC PINK: CNPOF) (RIV.V), The Yield Growth Corp (OTCQB:BOSQF) represent 4 marijuana stocks leading the industry on Wednesday. In recognition of this growing trend to do one's homework, Leafbuyer has become the authority on cannabis-related information.

  • Benzinga2 months ago

    LeafLink, Canopy Rivers To License B2B Software Platform Internationally

    The new venture will leverage and exclusively license LeafLink’s U.S.-based software as as a service business-to-business marketplace and supply chain technology to legal international cannabis markets. Per the terms of the agreement, LeafLink and Canopy Rivers will respectively hold roughly 82 percent and 18 percent of the new venture.

  • ACCESSWIRE3 months ago

    4 Marijuana Stocks Gaining Speed On Tuesday (2/19/19)

    Although cannabis remains federally criminalized, if more US states follow in California's footsteps, this may result in an influx of investors looking to the marijuana stock market for opportunities. Nabis Holdings (INNPF) (NAB), INSYS Therapeutics Inc (INSY), CannTrust Holdings Inc (OTC PINK: CNTTF), and Canopy Rivers Inc (OTC PINK: CNPOF) (RIV.V) are four cannabis companies picking up speed on Tuesday. Nabis Holdings (INNPF) (NAB) is a Canadian investment company focused on investing in high-quality cash flowing and strategic assets across multiple aspects of the cannabis sector primarily in the U.S. limited license states with a roadmap to expand globally.

  • ACCESSWIRE3 months ago

    These 4 Marijuana Stocks Are Heating Up

    CORAL GABLES, FL / ACCESSWIRE / February 11, 2019 / Following the recent passing of positive legislation, the marijuana stock market has become a hotbed of conversation. In the past, cannabis was condemned ...

  • ACCESSWIRE3 months ago

    These 4 Marijuana Stocks Are Making Key Moves

    CORAL GABLES, FL / ACCESSWIRE / February 5, 2019 / The future of the marijuana stock market will depend on two key factors: industry experts must continue to work to design and manufacture top-of-the-line products meant to elevate the human experience, and consumers must feel confident that companies in the cannabis industry both understand their needs, and are prepared to meet these needs. ParcelPal Technology Inc (PTNYF) (PKG), HEXO Corp (NYSE American: HEXO), Canopy Rivers Inc (OTC PINK: CNPOF), and Charlotte's Web Holdings Inc (CWBHF) (CWEB.CN) represent four companies determined to innovate towards advancing the cannabis industry into the future. The Company created an on-demand marketplace where consumers can shop for anything from food to cannabis.

  • ACCESSWIRE3 months ago

    Three of the Biggest Beneficiaries of the Cannabis Market Boom

    In fact, analysts at Cowen say U.S. cannabis sales alone could reach $80 billion by 2030 - an increase of $5 billion from earlier estimates, and a 4% compound annual growth rate. Piper Jaffray believes the market for legal cannabis could be worth $15 billion to $50 billion a year, with global sales growing to $250 billion to $500 billion. Corporate America is quickly waking up to the opportunity with alcohol companies taking a stake in cannabis stocks.

  • GlobeNewswire4 months ago

    Cannabis Growth Continues to Drive Technology Innovation for EnviroTechnologies International, Canopy Rivers, Aphria and WeedMD, a leading investor news resource covering hemp and cannabis stocks releases a snapshot focusing on how the cannabis industry continues to force technology innovation as it faces new challenges with the sector’s continuing rapid growth. The cannabis industry has begun to fully affect the beverage, food, medical and pharmaceutical industries but one area cannabis has helped drive forward from inception has been the tech industry. Due to the complexity of the cannabis plant as well as the strict regulations surrounding it, technological innovations have been a “must have” for any cannabis company that hopes to expand and grow.