|Bid||0.000 x 0|
|Ask||0.000 x 0|
|Day's Range||3.240 - 3.563|
|52 Week Range||3.050 - 4.200|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Organigram (OGRMF) is among the top gainers compared to cannabis companies (HMMJ) such as Canopy Growth (WEED) (CGC) and Hydropothecary (HYYDF), both of which have delivered positive YTD returns. Organigram has returned about 14% YTD as of August 7. The consensus ratings on Organigram also remained unchanged month-over-month as of August 7.
Hydropothecary (HYYDF) has done much better than other cannabis producers (HMMJ) such as Cronos (CRON), Aphria (APHQF), and Aurora Cannabis (ACB) (ACBFF). The stock has returned about 4.9% YTD (year-to-date) as of August 7, and it is one of the few cannabis stocks to be in the positive territory so far this year. Interestingly, more analysts are covering the stock compared to Aurora Cannabis.
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Last week, the cannabis sector was broadly positive with the ETF Horizons Marijuana Life Sciences ETF (HMMJ) rising ~4.3%, the Evolve Marijuana ETD (SEED) rising 3%, the ETFMG Alternative Harvest ETF (MJ) rising 1.3%, and the Emerging Marijuana Growers Index ETF (HMJR) rising 0.4% between the close on May 11 and the close on May 18. Over the same period, the TSE 300 Index gained about 1.1%, while the S&P 500 Index fell 0.5%. Let’s look at how some of the cannabis stocks performed last week.
Organigram (ORGMF) has been among the few cannabis stocks that have a positive YTD (year-to-date) return of 15.6% as of May 16. The company announced its portfolio of offerings for the recreational cannabis consumers (HMLSF) following legalization in Canada. The offerings include organically cultivated cannabis under the Ankr Organics brand, cannabis for experienced users along with premium strains under the Edison brand, cannabis for value-oriented (price sensitive) consumers under the Trailer Park Buds brand, and medical cannabis under the OrganiGram brand.
Yesterday, April 30, Canopy Growth (WEED) rose 10% and closed the day at $30.10 Canadian. The broader cannabis market was also higher with the Horizons Marijuana Life Science ETF (HMMJ) ending the day 3% higher and Aurora Cannabis (ACB), MedReleaf (MEDFF), and Hydropothecary (HYYDF) each gaining 6%. What moved cannabis stocks?
The cannabis sector remains hot for mergers and acquisitions as companies rush to capture a piece of the recreational cannabis market. Last week, Canopy Growth (WEED) announced that it had acquired Annabis Medical, an importer and distributor of medical cannabis in the Czech Republic. Last week, Cannabis Wheaton announced its acquisition of a licensed producer in Nova Scotia, Robinson’s Cannabis, which is constructing a 27,700-square-foot facility ahead of the legalization of recreational cannabis in Canada.
Hydropothecary (HYYDF) continued its upward momentum and closed 1.5% higher on April 12, 2018. The company and its peers (MJ) Canopy Growth (WEED), Aphria (APHQF), MedReleaf (MEDFF), and Aurora Cannabis (ACB) completed supply agreements with SAQ (Société des alcools du Québec). You can find out more at Why Hydropothecary Stock Rose 13% Yesterday.
On April 11, Hydropothecary (HYYDF) stock surged 13.2% after it became the SAQ’s (Société des alcools du Québec) preferred non-medical cannabis supplier once non-medical cannabis becomes legal in Canada. The company’s press release stated that the agreement term extends to the first five years following legalization and has an option to extend for another year.
Emerging businesses often serve as excellent chances to earn outsized profits. One rising out of the shadows recently is the marijuana industry. Bans instituted in the early 20th century drove its cultivation and use of cannabis underground. However, with various trends toward legalization, marijuana stocks have gained interest from investors.
Hydropothecary (HYYDF) reported a fall during fiscal 2Q18 due to a big increase in its operating expense YoY (year-over-year). The company’s operating expense rose from 1.7 million Canadian dollars in fiscal 2Q17 to 5.5 million Canadian dollars in fiscal 2Q18. Standardizing this as a percentage of its sales, Hydropothecary’s operating expenses rose from 1.9x its sales in fiscal 2Q17 to 4.6x its sales in fiscal 2Q18.
Earlier in this series, we learned that Hydropothecary (HYYDF) experienced a 29% YoY (year-over-year) increase in sales in its fiscal 2Q18. Driving this sales figure higher was the 45% YoY growth in the medical cannabis space. In all, the company sold 132,000 grams (or ~132 kilograms) of medical cannabis during the quarter.
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Ahead of the legalization of recreational cannabis, companies are ramping up their production capacities. Currently, Canada has a total of 91 licensed producers, of which 48 are in the province of Ontario. How a province goes about selecting its supplier will be critical for big and small players alike.