|Bid||9.95 x 0|
|Ask||10.07 x 0|
|Day's Range||9.82 - 10.29|
|52 Week Range||0.25 - 15.75|
|Beta (3Y Monthly)||-107.70|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Cowen analyst Vivien Azer initiated coverage Friday of five multi-state cannabis operators, saying she's bullish on those that rely on the consumer packaged goods model given the higher margins, especially relative to those relying on the retail model. Azer started Green Thumb Industries Inc. at outperform with a stock price target of $18.50, Curaleaf Holdings Inc. at outperform with a $10.50 target, and Cresco Labs Inc. at outperform with a $14 target. "We believe that the greatest shareholder value will be created through businesses that emulate a traditional CPG finished goods model, given its superior margin structure," Azer wrote in a note to clients. Meanwhile, Azer started MedMen Enterprises Inc. at underperform with a $1.50 price target. "[MedMen] is the clear leader in the [California] market, with a distinguished brand, reflecting an attractive retail concept," Azer wrote. "However, to us, retail is less attractive than wholesale. And, an over-reliance on retail revenues today, coupled with excessive spending and notable management turnover, make this a'show-me' story." Azer also started Acreage Holdings Inc. at market perform with a $9 target, saying consolidation a of a "disparate network of dispensaries" and launching a "nascent brand strategy" could prove challenging. The ETFMG Alternative Harvest ETF was up 0.4% in afternoon trading, but has lost 28.7% over the past three months, while the S&P 500 has gained 3.5% in three months.
WAKEFIELD, Mass. , Sept. 13, 2019 /CNW/ -- Today Curaleaf Holdings, Inc. (CURA.CN) (CURLF) ("Curaleaf" or the "Company"), a leading vertically integrated cannabis operator in the United States , was granted approval for its three final and two provisional adult-use licenses by the Massachusetts Cannabis Control Commission. Following today's approval of all five licenses, the next step in the process is to schedule Post Final inspections for the three final licenses, which will then be followed by Commence Operation inspections. "We appreciate the work of the Cannabis Control Commission and the Commission staff and will continue to work collaboratively with them to move forward in securing approval on our final inspections," said Joseph Lusardi , CEO of Curaleaf. The three final adult-use licenses are: a retail license to be co-located with the current medical retail location in Oxford , and two licenses for cultivation and manufacturing to be co-located with the current medical cultivation and manufacturing facility in Webster .
MIAMI, Sept. 12, 2019 /PRNewswire/ -- Curaleaf Holdings, Inc. (CURA.CN) (CURLF) ("Curaleaf" or the "Company"), a leading vertically integrated cannabis operator in the United States, announced today the company is the first in Florida to launch medical cannabis tablets, available in all 26 Curaleaf dispensaries across the state. Curaleaf, operator of the largest cannabis retail footprint in the US, with 49 dispensaries across the country, also sells medical cannabis in tablet form in Connecticut, New Jersey, Maryland and New York, with plans to launch in additional states.
(Bloomberg) -- As momentum trades unravel in major stock markets across the world, investors in Canada have another rotation to watch.Tech stocks, which had been the top performing sector on the S&P/TSX Composite Index until last month, are now among the worst. Taking the No. 1 spot in September is the health-care gauge. Before you deem this a flight to safety, consider that volatile pot stocks make up more than half of the S&P/TSX Composite Health Care Index.“Things got a little bit overextended in the realm of safety,” said Hans Albrecht, fund manager at Toronto-based Horizons ETFs Management Canada Inc. “Come early September that unwound a little bit.”Part of it can be blamed on the move that investors are making from growth stocks to value as they sell out of tech and into sectors like energy and financials. But there’s also been a rebound in the shares of weed companies.It may be a technical bounce after cannabis stocks underperformed since April. “They’ve been suffering all year,” Albrecht said. “Whether there’s some sort of underlying story that will give them a big push, I’m not sure.”Pot stocks have had a rough year as leaders in the industry reported disappointing results, regulatory breaches and as acquisitions languished amid U.S. antitrust reviews. Canopy Growth Corp., up about 15% this month, was in oversold territory in August. Aurora Cannabis Inc. was flirting with that technical level for most of last month.Others point to a short squeeze. “A lot of people were shorting the companies for fundamental reasons and also quantitative reasons,” said Greg Taylor, chief investment officer at Purpose Investments.And that may be unwinding. Some U.S.-based companies have posted good earnings, like Curaleaf Holdings Inc., and that might be boosting sentiment, he said. Bank of Montreal is no longer allowing retail investors to short cannabis stocks, according to a media report. But the pot stock bounce does feel like a technical move, Taylor added.Canada’s tech stocks have added C$49 billion in value through the end of August. Since then, they have erased about C$7 billion as investors reassessed expectations for global economic growth. On the flipside, among the top companies on the health-care gauge this month are weed stocks: Canopy Growth, Aurora Cannabis, Hexo Corp., Aphria Inc. and Cronos Group Inc.“It almost feels like a change in sentiment,” Taylor said. “A lot of people have been hiding in momentum names. Some people have reversed those trades.”To contact the reporter on this story: Divya Balji in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Madeleine Lim at email@example.com, David Scanlan, Kristine OwramFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
North American cannabis sales are set to surpass $47 billion in less than five years, according to Prohibition Partners.
Cannabis technology firm Weedmaps is now partnering with Cova Software, a cannabis retail point-of-sale, to deliver improved real-time online menu integration. The newly-upgraded Weedmaps platform will allow medical dispensaries and recreational cannabis stores using Cova's POS system to sync inventory online automatically. SugarBud Craft Growers (TSXV: SUGR) (OTC: RLLRF) has received cultivation, processing and medical sales licenses from […]The post Cannabis Stock News Daily Roundup September 4 appeared first on Market Exclusive.
PORT CHARLOTTE, Fla., Sept. 3, 2019 /PRNewswire/ -- Curaleaf Holdings, Inc. (CURA.CN) (CURLF) ("Curaleaf" or the "Company"), a leading vertically integrated cannabis operator in the United States, announced today the opening of its 26th Florida dispensary at 1994 Kings Highway in Port Charlotte. Curaleaf has the largest cannabis dispensary footprint in the US with 49 dispensaries across the country, and continues to execute on its strategy of rapid expansion in Florida.
Curaleaf (OTC: CURLF) continues to expand its partnership with the Veterans Cannabis Project (VCP) to help veterans gain legal access to medical cannabis. The company has started offering its products to veterans in Oregon. The VCP advocates for legal and supported access of medical cannabis for veterans through the Department of Veterans Affairs. Customers can now purchase a custom-designed Veterans Cannabis Project pre-roll product, with a portion of all […]The post Curaleaf Begins Offering Medical Cannabis Products to Veterans in Oregon appeared first on Market Exclusive.
Choom Holdings (CSE: CHOO) (OTCQB: CHOOF) has announced that an Alberta provincially-approved cannabis retail licensee is opening a cannabis retail store in Cold Lake, Alberta, under the Choom brand. The Choom-branded store is set to open on Saturday, August 31. GB Sciences (OTCQB: GBLX) has named Darin Carpenter as the company's new executive vice president for operations and […]The post Cannabis Stock News Daily Roundup August 28 appeared first on Market Exclusive.
In the wake of two acquisitions that totaled nearly $2 billion, Curaleaf Holdings Inc. reported Tuesday lower-than-expected second-quarter revenue. and widening losses
Reported Record Pro Forma Revenue (1)(2) of $110.9 million and Managed Revenue (1) of $55.1 Million Generated $3.4 million of Adjusted EBITDA (1) as Operations Continue to Scale Announced Acquisition of ...
As a result of the transaction, Curaleaf will have sold a portion of its real estate assets while retaining use of the properties for cultivation, processing and retail, respectively. The sale price of $28.3 million for the six properties covers initial investment plus all tenant improvements made to date and the proceeds will go towards Curaleaf's continued expansion in the United States .