|Bid||N/A x N/A|
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|Day's Range||15.10 - 15.65|
|52 Week Range||9.93 - 20.86|
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Thanksgiving has already become one of the best-selling periods for cannabis businesses, with the day before Thanksgiving becoming known as Green Wednesday. Traditionally, April 20 remains the biggest and most exciting holiday for cannabis consumers and is known as 4/20. Business analytics software provider Headset took into account data from states where cannabis has had the longest presence — Washington, California, Nevada and Colorado — and compared trends over the last four years.
Former Detroit Lions players Calvin Johnson and Rob Sims joined Benzinga CEO Jason Raznick onstage Wednesday at the Cannabis Capital Conference in Toronto. Johnson and Sims discussed industry activity in Michigan, their experiences in the NFL and ending the stigma around cannabis in specific communities. For Sims, cannabis has a personal connection.
In one of several fireside chats taking place at the Benzinga Cannabis Capital Conference, Dave Martyn, president of the Compass Cannabis chain of Canadian dispensaries, sat down Wednesday with Peter Miller, CEO of cannabis branding and packaging company SLANG Worldwide. The two discussed the intersection of Canada's newly legalized industry with the burgeoning U.S. market. Early in the conversation, they landed on the topic of just how far the cannabis industry has come in the years leading up to broad legalization in both Canada and the U.S. — and why that exponential growth foreshadows even greater developments in the coming years.
After the global industry jolt in 2018 when Canada legalized the recreational and medical use of cannabis, licensed producers and investors are well into a pivot to the U.S. market and beyond for future growth. Canadian cannabis players failed last year to use their first-to-market profile and strong currency to dominate a U.S. market 10 times bigger than their own, said Alfred Avanessy, managing director of Cormark Securities. For investors, as fragmented U.S. state policies are possibly replaced with federally legalized cannabis use down the road, the market valuations put on American companies are expected to continue to climb.
Horizons is the company behind the Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ)(OTC: HMLSF), which is one of the world's largest cannabis ETFs. “HMUS will be the first ETF in the world that is solely focused on providing exposure to companies with significant business activities in, or significant exposure to, the United States marijuana or hemp industries,” according to a statement.
The recent growth of the cannabis industry attracts hundreds of new business entrants a year, from brands and retailers to ancillary and technology companies. As one of the early technology companies to receive investment from a mainstream venture capital fund, we are frequently approached by investors looking to get into the cannabis space. While technology companies in cannabis have been instrumental in the growth and maturation of the industry they are not the only opportunity for investors to consider.
The Benzinga Events team is busy planning for the third Cannabis Capital Conference back in one of our favorite spots and the heart of the cannabis industry—Toronto. The cannabis industry is constantly developing, from market expansions and stock volatility to recent regulations and everything in-between. Adult-use cannabis legalization came to Michigan in December.
The Benzinga Events team is busy planning for the third Cannabis Capital Conference back in one of our favorite spots and the heart of the cannabis industry—Toronto. The cannabis industry is constantly developing, from market expansions and stock volatility to recent regulations and everything in-between.
Colorado released its March cannabis sales data Wednesday, and GreenWave Advisors shared some first-quarter data from the Centennial State with Benzinga. Implied retail marijuana revenues increased ...
Earlier this year, Benzinga spoke with Kyle Detwiler, CEO of New York-based cannabis-focused investment fund Northern Swan Holdings, after the firm announced it was deploying nearly million into the German marijuana market through an investment into Cansativa. Northern Swan also helped secure a permit with Health Canada for Colombia-based Clever Leaves to export cannabis from the South American nation to Canada. Now, Northern Swan is in the spotlight again as the company has closed a $58 million Series D financing round, bringing the total amount of capital raised to date to $96 million.
On Oct. 17, 2018, Canada made history by becoming the first G7 country and the second country overall to legalize adult-use cannabis. In 2018, legal cannabis spending grew by 65 percent to $569 million. Canadian spending on medical marijuana alone in 2017 grew by 84 percent to $330 million.
Some forecasts for the global medical cannabis market have it reaching $37 billion by 2023, with a CAGR of roughly 22 percent between 2017 and 2023. Tim Seymour, CIO of Seymour Asset Management and co-host of CNBC's "Fast Money," understands the concern. Seymour will speak at the Benzinga Cannabis Capital Conference April 17-18 in Toronto.
The opening of Toronto's first adult-use cannabis store helps build awareness and educate customers in the nascent industry, according to Piper Jaffray. The report noted that only one store, The Hunny Pot, opened in Toronto on the day legalized sales commenced. Despite fewer than expected openings for the day, customer excitement "was clear across the city," Lavery wrote in a note.
Europe's Cannabidiol (CBD) market is poised to grow quickly, according to analytics and research firm Brightfield Group. “Although Europe’s legal CBD market remains relatively small...it is poised to grow more quickly with both the likely blessing of global bodies such as the UN, and the European Union’s Novel Foods Act (health and safety regulations) eventually permitting for CBD to be sold like other ingestible products on the mainstream market," the report said. The Cannabis Capital Conference is coming back to Toronto! Click here to learn how you can join Tim Seymour, Jon Najarian, Danny Moses, Alan Brochstein and many others.
How Cannabis Stocks' Valuations Stack Up amid Recent Weakness(Continued from Prior Part)Comparing valuation multiplesAs of March 22, the median forward EV-to-sales multiple of our select group of 12 cannabis players was 7.0x. There were a couple of
Prior to legalizing marijuana for adult recreational use last October, Canada was already home to several cannabis ETFs, giving it a sizable lead in terms of weed ETF population over the U.S. where the ETFMG Alternative Harvest ETF (NYSE: MJ) is the only dedicated cannabis ETF. North of the border, Horizons ETFs Management is one of the leading issuers of cannabis ETFs and sponsors the Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ)(OTC: HMLSF), which is battling MJ for the title of world's largest cannabis ETF.
Green Check Verified is a compliance platform that seeks to help cannabis businesses keep track of and share their compliance history in an attempt to strengthen and stabilize relationships with banking partners — which remain reluctant to service marijuana clients. The company's main differentiator is that it works "within the existing banking system, not around it," said founder and CEO Kevin Hart. “As a regtech compliance company, we understand what is needed to make financial institutions not only comfortable with the idea of banking CRBs [cannabis-related businesses], but actually to want to seek more business from this market segment,” Hart told Benzinga during a recent conversation.
Gov. Phil Murphy and state lawmakers came to agreements on what's considered the final sticking points of the bill. Now, it appears that a vote to make New Jersey the 11th state to legalize adult use cannabis is on the horizon. The resolution came late Monday night between Murphy and fellow Democrats.
When Is Aurora Cannabis Expected to Hit One Billion in Sales?(Continued from Prior Part)Earnings projectionsAurora Cannabis (ACB) is expected to report improved EBITDA margins in 2020. The company’s EPS is expected to turn positive in 2020.
TLRY Is Too Rich for Jefferies—What about Other Cannabis Players?(Continued from Prior Part)March updateIn this article, we’ll discuss valuation multiple updates for other cannabis stocks that have gained investors’ attention lately.Where do
The governors of Illinois and New Jersey may not be marijuana users — but they could sure use some. Both Illinois Gov. J.B. Pritzker and New Jersey Gov. Phil Murphy need their state legislatures to legalize cannabis this year.
Earlier this week, Anderson Economic Group released its 2019 benchmarked AndCan Index, which uses a new, improved methodology. The 2019 index shows that consumer demand for cannabis products has been increasing much faster than previously recognized. The Cannabis Capital Conference is coming back to Toronto! Click here to learn how you can join Tim Seymour, Jon Najarian, Alan Brochstein and many others.
At the end of the first quarter of 2018, we spoke with GreenWave Advisors’ Matt Karnes, who said California cannabis sales could hit $2.5 billion in 2018, mostly in line with estimates out of BDS Analytics ...
One such change the cannabis industry is wrestling with is the name itself. The term "marijuana" was once the name predominantly used to describe the plant. Many in the industry don’t believe that marijuana will or should go away.
LeafLink is a cannabis industry-focused wholesale marketplace. The company takes pride in defining the way that hundreds of brands and thousands of retailers manage and track their orders and relationships so they can focus on growing their businesses. Benzinga caught up with Ryan G. Smith, the CEO and co-founder of a company that serves more than 900 brands and 2,700 retailers across 15 U.S. states and territories in the U.S. and Canada.