|Bid||20.83 x 0|
|Ask||20.84 x 0|
|Day's Range||20.58 - 21.21|
|52 Week Range||7.33 - 32.95|
|Beta (3Y Monthly)||5.06|
|PE Ratio (TTM)||37.55|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||15.36|
Marijuana stocks have been a volatile but largely outperforming group in 2019. But an analyst warns that while some companies are living up to the hype, others have risen too far, too fast.
Canopy Growth and Cronos Group expressed reservations about Canada's THC limits on cannabis-infused edibles and beverages. Most marijuana stocks rose.
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.
In the week ending June 21, cannabis stocks were broadly mixed. Aurora Cannabis (ACB) and Canopy Growth (WEED) fell ~4.7% and 3.6%, respectively. Last week, Canopy Growth stock faced pressure.
So far, Cronos Group (CRON) has delivered a 13% return in June. The company struggled to remain in the positive territory in the previous three months due to its high valuation.
The cannabis sector's current forward EV-to-EBITDA multiple is trading at a median of 19x, which has largely moved sideways over the past few months. Investors have less confidence in the cannabis sector.
Canopy Growth (WEED) was trading at a forward multiple of 10x, which was at a premium to the median level. However, the stock was trading at a discount to its historical level of 15x.
Declining cigarette sales and volumes continue to pressure large tobacco companies. To combat falling tobacco demand, industry giant Altria Group, Inc. (MO) has raised its prices six cents per pack, or $3 per carton, according to Wells Fargo analyst Bonnie Herzog, per Barron's. Herzog argues that the move demonstrates Altria's pricing power, adding that British American Tobacco p.l.c.
Cronos Group Inc. (CRON.TO) (CRON.TO) (“Cronos Group” or the “Company”) reports that at its Annual Meeting of Shareholders on June 19, 2019 there were 610 shareholders voting in person or by proxy holding in total 261,290,314 common shares, representing 78.2% of the total number of common shares outstanding.
The energy drink space may have a lesson for the budding cannabis industry, Bank of America Merrill Lynch says. While there was all kinds of buzz around energy drinks when Red Bull came along in 1997, ...
The sentiment towards the cannabis sector weakened further last week, as major industry players ended in the negative territory. HEXO (HEXO), which released disappointing earnings on June 12, was one of the key reasons for the extension of the weakness in the sector last week.
If you have doubts that cannabis is on its way from illegal to industrial, take a look inside Cresco Labs’ custom built, 43-thousand square-foot production facility in Joliet, Illinois.
At first glance, cannabis and cryptocurrencies seem to have a lot in common. Both comprise highly speculative markets subject to exuberant highs and crushing lows. The legality and regulation of each has languished in the gray. And to many mainstream investors, both have failed to shake synonymy with the black market.
The cannabis industry has grown in recent months and years, and many companies in the cannabis and health-related industries have been uplisted to reputable U.S. exchanges. Learn about the marijuana stocks on the Nasdaq.