|Bid||7.26 x 1100|
|Ask||7.27 x 1200|
|Day's Range||6.60 - 7.31|
|52 Week Range||4.76 - 10.17|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Kimberly-Clark KMB — Kimberly-Clark rose nearly 4.5% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv. Boeing BA — Shares of the airline manufacturer dropped 0.6% following The New York Times' report that Boeing ignored workers' concerns over its production quality of 787 Dreamliner jets.
Cannabis stocks were mostly higher on Monday, with Canopy Growth Corp. enjoying gains after two bullish analyst notes and CannTrust Holdings Inc. falling on news it plans to issue another $200 million in stock.
Given the restriction on debt, it's really not a new trend, but the positive may be those shares have the potential now to find their way into stronger hands. The crux of the issue here is this number benefited greatly from an unrealized fair value gain on biological assets.
Shares of Canadian cannabis-products maker CannTrust drop after the company reveals a preliminary quarterly loss and announces new share issuance.
Canadian cannabis company CannTrust Holdings Inc. said Monday it is planning a secondary offering of $200 million of its common shares with the aim of financing cultivation and facility expansion, expanding outdoor growing, expanding internationally and for upgrading its extraction capacity. BofA Merrill Lynch, Citigroup, Credit Suisse and RBC Capital Markets are lead book-running managers for the offering, with Jefferies and Canaccord Genuity acting as co-managers. Separately, the company provided guidance for the first quarter, based on preliminary, unaudited results. The company is expecting revenue of about C$17 million ($13 million), up from C$7.8 million in the year-earlier period, driven by a 68% increase in medical patients and the first full quarter of adult recreational use following legalization in Canada last October. Net income is expected to range from C$12 million to C$14 million, up from C$11.4 million. The company harvested about 9,424 kg of cannabis from its Niagara Facility, up 96% from the fourth quarter. The average revenue per dry gram rose 14% in the quarter. U.S.-listed shares fell 3.9% in premarket trade, but have gained 29.6% in the last 12 months, while the S&P 500 has gained 8.5%.
VAUGHAN, ON, April 22, 2019 /PRNewswire/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX:TRST, NYSE:CTST) announced today that it has commenced an underwritten public offering of an aggregate US$200 million common shares, which contemplates approximately 85% of the common shares to be sold in the offering by the Company and approximately 15% of the common shares to be sold in the offering by certain shareholders (the "Selling Shareholders"). In connection with the offering, the Company and the Selling Shareholders expect to grant to the underwriters a 30-day option to purchase up to an additional 15% of the number of common shares sold in the offering.
VAUGHAN, ON , April 22, 2019 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX:TRST, NYSE:CTST) today released preliminary operational and financial results for the quarter ended March 31, 2019 . "These preliminary results represent the excellent efforts the CannTrust team has made in increasing output at our Niagara perpetual harvest greenhouse.
Cannabis stocks were mostly lower Monday, led down by Aphria Inc. after it swung to a wide loss in the third quarter that overshadowed a surge in revenue.
Cannabis stocks are in a holding pattern right now -- consider that the ETFMG Alternative Harvest ETF (NYSEARCA:MJ) has barely budged in the last month. Markets are waiting on the bipartisan legislation proposed in both the House and Senate to create protections for the states legalizing cannabis to play out. If the sector wins a favorable decision, it could start rallying again as it did for much of 2019. That is due to a boost in liquidity, as banks become permitted to offer services to companies in the sector.Source: Shutterstock What are the cannabis stocks that investors should watch, ahead of the government's review?Aurora Cannabis (NYSE:ACB) announced on Apr. 4 that it appointed Carey Squires as its executive vice president of Corporate Development and Strategy. Carey's experience in capital markets signals that Aurora will seek global growth and partnerships with other firms. ACB shares are up over 70% year-to-date already. The stock could see profit-taking if markets weaken overall. But with such an event impossible to predict, investors are hoping for a favorable vote on the States bill to facilitate the financing of any big deals.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn Apr. 2, Aurora filed a preliminary prospectus that will allow the company to raise $750 million over a 25-month period.On Apr. 5, the CEO of Constellation Brands (NYSE:STZ) told CNBC that Canopy Growth (NYSEQ:CGC) could make more than $1 billion in revenue by the end of its fiscal year. Constellation reasoned that Canopy can sell $5 billion to $6 billion worth of goods in Canada alone. Beverages and other edibles would add to the company's addressable market potential. * 10 Dow Jones Stocks Holding the Blue Chip Index Back Marijuana is illegal federally, but state governments have legalized it in some form in 33 states across the U.S. If more states legalize the substance, then Canopy, Constellation Brands and Aurora Cannabis could all, in turn, reward shareholders with good results.On Mar. 25, Health Canada granted Canopy Growth a cultivation license for its facility in Fredericton, New Brunswick. The facility will start production of over 5,000kg of cannabis annually. Such positive benefits to the economy and job market are something for states to look forward to from cannabis legalization.CannTrust (NYSE:CTST) could trade in a wide range after the company reported weak fourth-quarter results in the end of March. Revenue grew to 132% from last year to CAD $16.17 million. The company lost CAD $0.26 a share.CannTrust is optimistic that its revenue growth will continue in 2019, thanks to additional capacity coming online. Its Phase 2 expansion, crop yield optimization and staff training will all drive output higher. By 2020, it estimates it will add between 100,000 kg to 200,000 kg of production. Looking ahead, the company will continue developing innovative products in anticipation of the expected legalization of the edibles market in Canada in late 2019.Cronos Group (NASDAQ:CRON) has been one of the stocks to add to the "avoid list" due to its weak quarterly report. The company benefited from a CAD $2.4 billion Altria (NYSE:MO) investment, which closed in March 2019. The bad news is that the company's average selling price fell from $6.43 in full-year 2017 to $5.74 for 2018. It blamed the falling ASP on an excise task. Operating expenses also ballooned from $9.3 million in full-year 2017 to $29.4 million.Cronos has research and development activities that will take time before they pay off. Its big focus is on making sure that it has the technologies for leveraging on the rare cannabinoids and formulations to tailor them to devices. This requires the company collecting data to share with regulators so they are comfortable with it.In the end, cannabis stocks have already staged a nice rally in 2019, which increases the risk of a pull-back if investors decide to book profits. Yet any positive developments on the legalization side of the equation could re-ignite another rally in the sector.As of this writing, Chris Lau did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * FAANNG Stocks, Ranked From Cheapest to Most Expensive * 7 Stocks With a Lot on the Line This Earnings Season * 7 Marijuana Companies: Which Pot Stocks Should You Buy? Compare Brokers The post Cannabis Stocks to Watch Ahead of the States Bill appeared first on InvestorPlace.
Marijuana stocks have been all the rage as legalization for medical and personal use has expanded. Leading the way is superstar Canopy Growth (NYSE:CGC). CGC has been riding high as it continues to see rising sales and has racked up some major deals with blue-chip companies such as Constellation Brands (NYSE:STZ).Source: Shutterstock There's a reason why Canopy could be one of the marijuana stocks first real winners on the race to profitability. Part of the reason is that Canopy is forward thinking.Just as it made some of the first moves into cannabis-infused drinks and other products with its STZ partnership, it's doing so with its latest deals. That will have it front and center in the animal and pet health marketplace. Don't laugh. Petcare is a booming and thriving business. Fertile ground for marijuana stocks to profit.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAnd now, Canopy Growth has the chance to be the leading cannabis stock in the sector. A Big Market for the Marijuana StocksIt's no secret that Americans love their pets. A 2012 Harris Interactive survey found that 9 out 10 respondents viewed their companion pets as a member of the family. The survey also found that these respondents were willing to do whatever is necessary to ensure the health of their pet. And in that love and willingness, many Americans tend to spend almost nearly as much money on them as we do our own children.The American Pet Product Association data shows that annual expenditures by consumers for their pets have grown in each of the last 18 years. This includes during the Great Recession. Last year alone, Americans spent a whopping $72.56 billion on their pets. This includes $18.3 billion on veterinary care and $15.5 billion on supplies and over-the-counter medicines. This year, the APPA estimates that number will surge to more than $75 billion. The truth is, American's are very willing to spend on their fur babies.What does this have to do with marijuana stocks?While cats and dogs are very different than people, they do benefit from some of the same treatments for ailments. A lot of feline and canine drugs have been derived from their human counterparts. For example, our vet prescribes half a Benadryl tablet for our dog when his spring allergies start.With that, it stands to reason that dogs and cats may benefit from similar positive health-effects from cannabinoid and hemp-based CBD products. Already, several studies are underway with the both Colorado State University and the University of Pennsylvania School of Veterinary Medicine looking into CBD treatments for pets with osteoarthritis/joint pain and epilepsy. Meanwhile, just as there is a big and growing market for human supplements using CBD, there's massive potential for pet products as well.For the various marijuana stocks, this is a huge untapped market that they certainly can compete in, now that the Farm Bill has passed and hemp-based CBD is legal in many items. For Canopy Growth, the potential seems very big considering its recent moves. Canopy Growth Could Be the Leading Marijuana Stock for PetsCGC is poised to win in the booming pet care market thanks to another smart partnership. Around the end of March, Canopy cut a deal with Sequential Brands Group. The deal with Sequential puts CGC right into the thick of the pet care market as the collaboration focuses on the pair developing new hemp-derived cannabidiol (CBD) products for animals. The deal was sort of swept under the rug as other marijuana stock news was breaking around that time. But in the deal, was a huge coup for Canopy. And that was Martha Stewart.Yes, that Martha Stewart.The homemaker and entertaining queen provides plenty of brand cache for Canopy as she will become a strategic advisor on the firm's pet and hemp-product lines. Stewart has long been a pet advocative and her chow chows have become stars in their own right. With her on board, sales for whatever CGC develops could quickly find a foothold and command some high market share in the CBD pet product sector.One of the chief reasons why Canopy has been crushing other marijuana stocks has been the strength of its celebrity and major corporate partnerships. The firm has been able to get out in front of some major trends -- like CBD-infused drinks -- and has been able to capitalize on that with big deals. Pets and animal health will be no different. By adding Martha to the mix, it legitimizes its future products and gives it a major edge on supermarket shelves. That's something other pet-focused marijuana stocks like Medical Marijuana, Inc. (NASDAQ:MJNA) or CannTrust Holdings (NYSE:CTST) may not be able to match.All in all, it's just another reason why CGC is pulling away from the pack. Forget the Other Marijuana StocksThe reality is, the pot sector is quickly turning into a one or two horse race with Canopy leading the way. The firm continues to make major transformative deals to get itself out in front of major trends. It's under the rug deal with Sequential Brans puts it right front and center in a huge and growing market. The branding with Martha Stewart will only enhance that further. For investors, it's just another example of why CGC is the cannabis stock to own.As of this writing, Aaron Levitt did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Best Dividend Stocks to Buy for Every Investor * 7 Catalysts That Will Send Marijuana Stocks Soaring in 2019 * 8 Risky Stocks to Watch as Earnings Season Kicks Off Compare Brokers The post Pot for Pets? Canopy Growth Is on the Bleeding-Edge of Marijuana Stocks appeared first on InvestorPlace.
VAUGHAN, ON, April 10, 2019 /PRNewswire/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) is pleased to announce that it has launched three new cannabis extract formulations to meet the growing demand for oil-based products. The new formulations are designed to fill previously unmet needs within the Canadian medical market, identified through market research and the Company's long-standing relationships with thousands of medical cannabis patients and their healthcare practitioners.
VAUGHAN, Ontario, April 8, 2019 /PRNewswire/ -- CannTrust Holdings Inc. ("CannTrust" or the "Company") (TRST.TO) (CTST) is pleased to announce that its cultivation and processing permit under Health Canada Cannabis Regulations was amended to include the final 20% of its Phase 2 expansion. The entire 450,000 sq. ft. of its perpetual harvest greenhouse in Pelham, Ontario, is now fully licensed. Pending Health Canada approval, the Company anticipates planting on its previously announced outdoor land acquisition of 81 acres in Q2 2019 and expects to realize a yield of approximately 1,000kg per acre in 2019.
Inner Spirit Holdings Ltd. (CSE: ISH) announced that Tilray (NASDAQ: TLRY) has increased its total investment in Inner Spirit to $6 million as part of an investment and strategic partnership agreement announced in December 2018. Terra Tech Corp. (OTCQX: TRTC) has secured a permit from the State of Nevada to manufacture cannabis for the adult-use market at its 15,000 sq. […]The post Cannabis Stock News Daily Roundup April 8 appeared first on Market Exclusive.