|Bid||6.94 x 1800|
|Ask||6.95 x 1800|
|Day's Range||6.58 - 7.08|
|52 Week Range||6.04 - 25.10|
|Beta (3Y Monthly)||4.07|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Cronos is under pressure after the company reported revenue that came in below analysts' expectations. Yahoo FInance's Akiko Fujita and Emily McCormick discuss on The Ticker.
A wave of disappointing earnings caused a bloodbath in marijuana ETFs last week. However, talks of an end to the federal embargo on marijuana could turn this segment around.
Cannabis stocks rose Tuesday and were on track to end a six-day losing streak, buoyed by news that a congressional committee is advancing a bill that would lift the federal ban on cannabis and overturn past convictions.
Are marijuana stocks on U.S. exchanges a good buy now? The marijuana industry gets a lot of hype, but look past the smoke and analyze pot stocks on their fundamentals and technicals.
Cannabis Countdown: Top 10 Marijuana Stock News Stories of the Week Welcome to the Cannabis Countdown . In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for ...
This week was a rough one for slow-burning Canadian marijuana stocks. Headlines of big-name companies' miserable earnings dominated financial media coverage. But don't let Cronos Group's (NASDAQ:CRON) revenue miss and the post-earnings drop in CRON stock get you down. In this week's episode of "Moneyline," Matt McCall is here to reassure you that the long-term potential is still there. For now, you may just want to look to our home-grown American pot companies.Earlier this week, Cronos reported adjusted losses per share of 2 cents, actually beating estimates. But it seems like investors were more concerned with CRON's revenue of $10.1 million, which missed estimates of $10.45 million.For McCall, the biggest problem with CRON stock isn't its short-term performance. Heck, in the next five years, he's positive that marijuana will be legal at the federal level in the U.S. That will be a huge catalyst for struggling stocks. But to him, that doesn't completely justify Cronos' $2.2 billion market capitalization.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut just across the border in the United States, two marijuana stocks reported earnings worthy of even short-term optimism. Acreage Holdings (OTCMKTS:ACRGF), most famous for its pending deal with Canopy Growth (NYSE:CGC), reported revenue of $22.4 million. What's the catch? Acreage's market cap is just $340 million. And Charlotte's Web (OTCMKTS:CWBHF), one of McCall's favorite companies, reported the upcoming opening of a 136,000 square foot facility. That shows it's clearly ready to keep scaling. * 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside So don't let the headlines ruin your high just yet. As U.S. politicians debate federal legalization and the Food and Drug Administration works on reviewing the medical benefits of cannabidiol, investors should sit back and give marijuana stocks some time. McCall's PodcastSo, maybe you don't like marijuana stocks or pot in general. But what if you're an avid coffee drinker? Earlier in the year, McCall visited China to do boots-on-the-ground research. There, he checked in on recent IPO Luckin Coffee (NASDAQ:LK). After visiting a shop in Shanghai and tasting what LK had to offer, he wasn't initially impressed. But now, after Luckin reported revenue growth of 540% quarter-over-quarter, he's starting to sip on what LK stock has to offer.This company, often known as the Starbucks (NASDAQ:SBUX) of China, isn't the only hot stock he's starting to watch. Tune into this episode for three to watch -- and learn which one he sees as a "screaming buy." These three names, Sherwin-Wiliams (NYSE:SHW), Allegiant Travel (NASDAQ:ALGT) and Lululemon (NASDAQ:LULU) all play on big long-term themes that have him excited. And if you know McCall, you know he loves to invest based on these intense long-term trends.Make sure to listen in to this episode of "Moneyline" for more on stocks to watch and his reviews of Luckin Coffee's brew. Plus, you'll even get a preview of his recent travels to Portugal.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and+1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside * 7 Earnings Reports to Watch Next Week * 5 Online Retail Stocks to Buy on the Dip The post Investors Can Still Get High on American Marijuana Stocks appeared first on InvestorPlace.
The marijuana company has put the brakes on much of its capital spending, part of an effort to conserve cash in order to survive until its operations make a profit.
The Canopy Growth earnings report was weaker than expected for the Canadian cannabis giant. Canopy Growth fell while other marijuana stocks dipped.
Cannabis stocks have been getting smoked. Still, with Aurora Cannabis (NYSE:ACB) reporting this evening, can the tide be turned? Let's see what Wall Street is expecting from ACB stock and what's required on the price chart before investors can buy shares with increased odds for longer-term profits.Source: Shutterstock Cannabis stock investors coming into this week's earnings season have continued to feel the burn in a big way. Wednesday was a disaster after producer Cronos (NASDAQ:CRON) reported weak and disappointing quarterly results.Worse yet, in early Thursday, trade peers Tilray (NASDAQ:TLRY) and Canada's largest player Canopy Growth (NYSE:CGC) are reinforcing the bear case.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn brief, existing anxieties tied to oversupply problems, regulatory red tape, weaker-than-expected demand, rising costs, declining margins and disappearing road maps toward profitability have only grown larger. And painful price declines in CRON, CGC, TLRY and others are a reflection of today's increased fears, disappointment and frustration with cannabis stocks.Now it's ACB stock's turn at the earnings altar. Aurora is set to release its results after the close of trade on Thursday. * 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside In front of Aurora stock's Q1 confessional, Wall Street is forecasting sales to explode by 220% year-over-year. That's the good news, if any. More important for Canada's second largest producer, pricing and margins on products sold and lack of profitability are going to be scrutinized by Wall Street. And as InvestorPlace's Vince Martin notes, it's a numbers problem for ACB stock.Ultimately, there's nothing to suggest ACB has an ace up its sleeve this evening. Still, given the damage, is it time to start growing a position in Aurora stock? Despite the stock shedding nearly 75% from its October 2018 all-time-high and a decline of nearly 40% this year, the price chart is still saying otherwise. ACB Stock Weekly ChartIt has been a couple of months since Aurora Cannabis stock could even be labeled a speculative buy on the price chart. Technically, all the cards for the bull case were off the table in September. This is true after a challenge of 62% and long-standing angular support failed a weekly candlestick higher-low pattern. And conditions have only grown worse for ACB investors.This week, shares have broken lower from a flag pattern stationed beneath the less important 76% Fibonacci level. At the same time, an oversold stochastics is now readying to form a bearish crossover. The net takeaway is oversold conditions in ACB stock (and other cannabis stocks for that matter) will produce more painful lows in the coming weeks. The trend is your friend in Aurora stock, but only if you're comfortable with short exposure.My position is that ACB stock isn't even worth a small allocation within investors' portfolios.But what if ACB stock can become the next Microsoft (NASDAQ:MSFT) or Amazon.com (NASDAQ:AMZN) within the cannabis market? The "dot-com" bust certainly wasn't kind to those market leaders either, right?I suggest staying out of harm's way. At the end of the day, there is a lot of work to be done before and if a meaningful bottom is formed and more thoughtful Aurora Cannabis stock investors might eventually be rewarded.Disclosure: 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 and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Stocks to Buy Under $10 * These 10 Stocks to Buy Make the Perfect 'Retirement' Portfolio * 5 Streaming Stocks to Buy for Huge Upside Over the Next Decade The post Why Aurora Cannabis Stock Isn't Worth a Hit Before Earnings appeared first on InvestorPlace.
Cannabis stocks fell for a third straight session on Wednesday, as Tilray’s mixed third-quarter earnings failed to light a fire under the battered sector.
A Canadian regulator told weed companies earlier this week to get better at offering conflict of interest disclosure around mergers and acquisitions.
For a change, the market was in the red at the start of today's PreMarket Prep Show. Trump comments that he will increase tariffs if a deal isn't reached came Tuesday and the markets backed off intra-day highs. Unfortunately, Cronos Group (NYSE: CRON) was unable to rally off its third-quarter report and the same can be said for Tilray Inc. (NASDAQ: TLRY).
Canadian cannabis producer Cronos (NASDAQ:CRON) reported third-quarter 2019 numbers in early November that -- while strong on the revenue and volume fronts -- showed that this company is still struggling tremendously with profitability. CRON stock traded narrowly higher on the news. But, the 2% post-earnings bump in Cronos stock is nothing compared to the 50% beating shares have taken over the past six months.Source: Shutterstock Taking a step back, there are two realities here for CRON stock.First, Cronos increasingly appears positioned to be a survivor in this market, and CRON stock consequently appears materially undervalued relative to the company's long-term profit growth prospects.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSecond, investors won't buy into the first reality -- and CRON stock won't rebound -- until the company figures out its profitability issues, margins head higher and presently wide losses start narrowing.The investment implication? Don't buy the dip in CRON stock just yet. This stock will remain weaker for longer. But, keep the stock on your radar. Once the company does figure out its profitability issues, that could spark a huge rebound that you don't want to miss. Cronos Stock Is UndervaluedWhen it comes to cannabis stocks, my investment thesis is very simple.Current consumption trends imply that the cannabis market will be huge one day -- like alcoholic beverage and tobacco market huge. Each of those markets birthed multiple $20 billion-plus companies. The cannabis market will do the same. But, before it does, it will kill a bunch of companies. As the market matures and grows, it will consolidate around a few large players, who will reap all the rewards while everyone else falls by the wayside. That's just how markets work. * 7 Tech Stocks to Buy for the Rest of 2019 The implication is simple. About 95% of pot stocks today won't be around in a decade. As for the other 5%, they will turn into $20 billion-plus companies.It has become increasingly clear that Cronos belongs in the second, smaller group of long-term winners for various reasons.First, and most importantly, Cronos has landed a multi-billion dollar partnership with tobacco giant Altria (NYSE:MO). This gives Cronos unparalleled ability to invest in the cannabis market and tons of cash to buffer against wide losses today. Second, Cronos has been leveraging this partnership to drive huge volume and revenue gains. Volumes were up more than 500% year-over-year last quarter, while revenues were up nearly 240% year-over-year. Third, the company has also been leveraging its resources to lay the foundation for big growth in the long run. This includes acquiring new brands to broaden and diversify the product portfolio, expanding operations geographically to tap into new markets and building out capacity to further increase supply volumes.It looks like Cronos will survive cannabis market consolidation, and ultimately, turn into an important player in the global cannabis market. Assuming this, CRON stock looks undervalued today. Shares Won't Rebound YetAlthough CRON stock looks undervalued today, it's unlikely that shares will stage a huge comeback anytime soon.Why? Because investors won't buy into this idea that Cronos is a long-term winner until it becomes clear that the company can be profitable at scale.Right now, the profit trends don't look good. In the third quarter, gross margins dropped 14 points year-over-year and 12 points quarter-over-quarter to their lowest level of 2019. Long story short, legal-related expenses are making it tough for legal supply to compete with black market supply, so in order to move product, the legal channel is being forced to cut prices.So long as this dynamic persists, investors won't buy into the CRON stock rebound.When will this discounting problem get fixed? No one really knows. A lot of it depends on how legislation adapts to the current situation. Will black market penalties get more severe? Will legal market taxes be reduced?There is a clear lack of visibility as to exactly when Cronos' profit trends will improve. So long as this is true, CRON stock will remain weak. Bottom Line on CRON StockThere will come a time when buying the dip in CRON stock is the right move. Long term, this stock is going way higher as the cannabis market goes global.But, that time is not now. Instead, for the time being, Cronos stock will remain weak, mostly because the company's profit trends remain weak, and there is a lack of visibility as to when they will improve.Until they do improve, CRON stock won't rebound in a big way.As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Stocks to Buy for the Rest of 2019 * 7 Biotech Stocks to Buy With Plenty of Power in the Pipeline * 5 Stocks to Buy That Are Set for Monster Growth in 2020 The post Q3 Numbers Show Why Cronos Stock May Not Rebound in the Short Term appeared first on InvestorPlace.
Cronos Group kicked off the September quarter earnings season for the cannabis sector on Tuesday with a report showing a profit driven by a one-time gain and lower-than-expected revenue.
Cronos earnings were positive, but may not be comparable. Sales jumped but missed views, a common problem for the industry.
Tilray earnings are on tap late, after mixed Cronos Group earnings. Tilray and Cronos fell while other marijuana stocks were mixed.
Over the last six months, Cronos Group Inc. (NASDAQ: CRON ) shares have fallen by 43.3%. The Analyst Bank of America Merrill Lynch’s Christopher Carey maintained a Buy rating on Cronos Group with a $13 ...
Cannabis stocks traded lower on Tuesday after third-quarter earnings season in the group got off to a lackluster start. On Monday evening, OrganiGram Holdings Inc (NASDAQ: OGI) preannounced third-quarter revenue that was about 45% below consensus Wall Street estimates. Zuanic said OrganiGram is now anticipating adjusted EBITDA will fall into negative territory in the fiscal fourth quarter after reporting positive EBITDA in recent quarters.
Cronos Group (NASDAQ: CRON) was the first of three issues in the sector to report this week. As a result, the price action was not revealing on how the issue may trade off the open. CBS Corporation (NYSE: CBS) announced a mixed report, coming up shy on sales by $65 million.
All eyes will be on President Trump Tuesday for U.S.-China trade war updates. Walmart, Nvidia, and others are set to report their quarterly earnings. And why Casey's General Stores (CASY) is a Zacks Rank 1 (Strong Buy) right now...
It’s been a brutal year for cannabis investors, with the ETF MANAGERS TR/TIERRA XP LATIN AME (NYSE: MJ ) down another 1.2% this month ahead of a series of major cannabis earnings reports this week. Cronos ...