|Bid||0.00 x 800|
|Ask||0.00 x 900|
|Day's Range||7.99 - 8.84|
|52 Week Range||5.12 - 15.30|
|Beta (3Y Monthly)||4.04|
|PE Ratio (TTM)||845.00|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Pharma stocks can serve as a profitable addition to investment portfolios. With 10,000 baby boomers aging into Medicare every day, and a Medicare Part D drug plan to subsidize the cost, demographics and government subsidies has created a virtuous cycle for healthcare stocks. As a result, some have seen price levels that its profits (assuming they exist) cannot sustain. Additionally, biotech stocks are inherently risky due to the process of drug development and approval.
A prime example is Tilray (NASDAQ:TLRY). Having only enjoyed its initial public offering this July, TLRY stock has already obliterated all expectations. When compared to its all-time high, Tilray stock has mathematically absorbed a brutal beating.
Investors need to pay close attention to Cronos (CRON) stock based on the movements in the options market lately.
Last week was an eventful stretch for the ETFMG Alternative Harvest ETF (NYSE: MJ). The lone exchange traded fund dedicated to cannabis equities rallied following the Nov. 6 midterm elections only to give back a significant chunk of those gains in the following trading days. The marijuana ETF rallied amid a slew of good news, including Michigan voters approving adult use of recreational cannabis, becoming the tenth state to do so.
Four major Canada-based weed producers are set to report earnings next week, the biggest financial test for the companies since Canada legalized adult recreational use of cannabis on Oct. 17.
Editor’s note: InvestorPlace’s Earnings to Watch is updated weekly. Please check back next week for our latest earnings calendar picks. Earnings season turned out rather strong, although it didn’t do all that much for the broad market.
Many of our readers are very interested in cannabis stocks and the investing possibilities emerging from the legalization of marijuana in Canada and several U.S. states. This has become a big trend in investing and finance that has been amplified by the parabolic rise and fall of hot marijuana stocks like Cronos and Tilray.
Indirectly, that’s another win for pot stocks regardless of the outcome of the voting because it shows that the conversation about pot isn’t going away. As I noted in my October 26 column on Aurora Cannabis (NYSE:ACB), pot stocks, including Tilray (NASDAQ:TLRY), Cronos Group (NASDAQ:CRON) and of course CGC stock, haven’t been trading on value.
HENDERSON, NV / ACCESSWIRE / November 8, 2018 / Pot stocks have been on quite a roll recently, after Tuesday's election results yielded some great news for the sector, including Michigan legalizing recreational ...
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