|Bid||26.25 x 1000|
|Ask||0.00 x 2200|
|Day's Range||26.65 - 27.85|
|52 Week Range||1.05 - 45.40|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.00|
|Expense Ratio (net)||0.79%|
Today, to enhance customers’ online experience, the Green Organic Dutchman Holdings (TGODF) has launched its new website, which includes a portal for patients and consumer education centers as well as a completely revamped investor section. Speaking about the new website, Andrew Pollock, the vice president of marketing of TGODF, said, “TGOD is committed to providing the ultimate cannabis experience for consumers.
When Scott McGovern sold his 19-month-old cannabis media company Green Rush Daily to High Times magazine for $7 million, he'd built a website with 6.5 million unique visitors per month and cultivated a devoted social media following bolstered by a network of influencers and advertisers. Two years earlier, the cannabis “green rush” was in its infancy and everyone was moving West. “New York, not to mention the nation on the whole, needed a reliable news source for cannabis information,” McGovern told Benzinga.
On December 13, the British Columbia Supreme Court ordered the immediate shutdown of all illegal cannabis stores operating in Vancouver. The City of Vancouver had filed 53 injunctions in total against the dispensaries, which were operating outside the city’s regulations since April 2016, when the city introduced its medical marijuana related use (or MMRU) model. In regards to the ruling, Kaye Krishna, Vancouver’s general manager of development, business and licensing, said, “The ruling signals that any cannabis retail store operating outside City regulations can and will be enforced against using all the tools at the City’s disposal to the fullest extent moving forward,” according to Globalnews.ca.
After the disappointment on Wednesday with Mississauga and Markham voting against opening private cannabis retail stores, investors were intently watching the Toronto and Ottawa city council votes on whether to allow private cannabis retail stores to operate in their cities or not.
After the significant decline in Aphria’s (APHA) value last week, the company provided some respite to investors by purchasing shares worth $3.1 million. The company announced a special committee that consists of independent directors who will review the allegations that led Aphria’s downfall. On December 13, Aphria stock fell ~9.5% to 7.04 Canadian dollars.
International markets are becoming more important for cannabis companies (MJ). Tilray (TLRY), Aurora Cannabis (ACB), Canopy Growth (WEED), and Cronos Group (CRON) each have international operations, as you can see in the following chart.
Today, the stock of KushCo Holdings (KSHB), one of the key packaging supplies providers to the cannabis industry, is trading on a negative note. US-China trade tensions have hurt many large US companies, including Ford Motor Company (F), General Motors (GM), and Harley-Davidson (HOG), among others. In contrast, the cannabis industry is largely unaffected by the global trade war—at least so far.
To enhance its medical cannabis onboarding capabilities, the Green Organic Dutchman Holdings (TGODF) announced today that it will be partnering with HelloMD, which provides online services to patients who are looking to obtain medical cannabis in Canada. TGODF plans to sell its premium, certified organic cannabis to medical patients starting in late January 2019. Utilizing HelloMD’s white-label patient services platform, TGODF will be able to provide patients with access to independent advice from practitioners and education about medical cannabis.
New Age Beverages (NBEV) stock has been on the run for the last few days. On December 12, the stock rose 10.5%. At 9:46 AM EST on December 13, the stock was trading with 4.5% gains. New Age Beverages stock has increased for the fourth consecutive day. So far this week, New Age Beverages has increased 28.1%. Earlier in December, the company announced its merger with Morinda Holdings. We’ll discuss what has been helping New Age Beverages stock make big moves this week.
Following Altria’s news, Cronos Group (CRON) received target price upgrades from notable investment management companies. On average, four companies (MJ) upgraded Cronos Group’s target price by nearly 70%.
The day before Thanksgiving has turned into a well-known marijuana shopping day in America, with Eaze reporting record sales that were only outpaced by April 20 sales, as deliveries almost doubled those of a regular Wednesday last year. Data from Headset confirms this massive surge in demand. CannAmerica Brands CEO Dan Anglin said: “In Colorado, the day before Thanksgiving has long been the kickoff to the biggest season for cannabis sales in the state.
On December 12, Mississauga and Markham voted against opening private cannabis retail stores for now. The Mississauga city council voted 10-2 against allowing private cannabis retail stores to operate in the city. The Markham city council voted 12-1 against opening private cannabis retail stores.
Around 1:05 PM EST, the stock posted a daily high near 14.80 Canadian dollars, up 11.7% from the previous day’s closing price. Today’s sharp recovery comes as a relief for Green Thumb investors (MJ) since the stock had lost about 40.9% in the fourth quarter as of yesterday. Constellation Brands (STZ), Scotts Miracle-Gro (SMG), and Molson Coors Brewing (TAP) are down 12.5%, down 16.0%, and up 1.7% quarter-to-date, respectively.
Jim Cramer, the widely followed host of Mad Money on CNBC, gave his opinion on the deal between Cronos Group (CRON) and Altria on December 11. Cramer called Altria’s acquisition of a 45% stake in Cronos Group last week a “smart move” for Altria. This trend brings some concern for the growth trajectory of companies such as Altria.
On December 11, New Zealand’s government made way for medical cannabis legalization. New Zealand already allowed a few patients to access medical cannabis. The new law makes medical cannabis widely accessible to more patients.
Earlier in this series, we discussed how the average forward EV-to-sales multiple of nine Canadian cannabis (MJ) stocks were trading at an all-time low of 4.6x. Let’s look at each of the nine cannabis stocks that are part of the average multiple below.
The Zacks Analyst Blog Highlights: Altria, Cronos, Constellation, Canopy Growth and ETFMG Alternative Harvest
Altria investment in Canadian cannabis producer Cronos sparked a rally in the broad cannabis sector and the its ETF. Will the trend continue?
The use of recreational cannabis is now legal in Michigan, following U.S. states like Colorado, Washington, Oregon and California. The 2018 Cannabis Capital Conference in Toronto equipped over 500 cannabis investors and companies with tools to dominate the space. Over six hours of cannabis executive networking and valuable time to pitch ideas, gain insight and create lifelong connections.
Alongside the outer wall of The Kingsland, about hundred or so rabid fans of the Ukrainian metal band, Jinjer, absorbed the warm drizzle with enthusiasm. According to Kostyuk, the band’s music has absolutely been influenced by its environment, which was not particularly conducive to the creation of bubble gum pop, rainbows and unicorns. Maybe some meat a few times a month,” Eugene said.
Today, Aphria (APHA)(APHQF) resumed a sharp sell-off in its stock from early this month after surging a whopping 51% yesterday. Now, let’s find out what could be driving Aphria stock down today. Grego alleged that “Aphria had diverted funds into inflated investments held by insiders.” Since then, these allegations have taken a massive toll on investors’ confidence.
Danny Moses is a well-known investor who navigated the 2007-2008 financial crisis as the head trader at Steve Eisman's FrontPoint Partners. The story of how FrontPoint made a killing by betting against collateralized debt obligations has been documented in Michael Lewis’ book “The Big Short,” which was later adapted into a film by Adam McKay. Moses in October was appointed as the third independent member of Merida Capital Partners' six-person investment committee.
Shares of Aurora Cannabis Inc. shot up 10.8% in afternoon trade Friday, after the Canada-based marijuana company said it was expanding into Mexico with the establishment of an exclusive supply deal with Farmacias Magistrales S.A. The company said Farmacias, a pharmaceutical manufacturer and distributor that reaches 80,000 retail points and 500 pharmacies and hospitals, recently received the first import license graded from the Mexico's Federal Commission for Protection Against Health Risks, which allows the company to import medical cannabis containing THC. "This new exclusive partnership further expands Aurora's early mover advantage in Latin America, allowing us to become a leading player in the development of the medical cannabis system in Mexico, a legal market of 130 million people," said Aurora Chief Executive Terry Booth. The stock has lost 5.2% over the past three months, while the ETFMG Alternative Harvest ETF has shed 15.7% and the Dow Jones Industrial Average has lost 5.5%.
My eyes filled with tears as I read the news about Brett Roper, CEO of Medicine Man Technologies Inc (OTC: MDCL), passing away. With nothing left to do but grieve, I felt the need to pay this man -- a pioneer in the cannabis industry -- some due tribute. "I have known Brett for several years and admired him for always asking the right questions," he said.