|Bid||39.000 x 900|
|Ask||39.700 x 1400|
|Day's Range||39.241 - 39.950|
|52 Week Range||0.740 - 45.399|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.00|
|Expense Ratio (net)||0.79%|
Organigram (OGRMF) had one of its best days on October 15 with a rise ~9.3% to 8.2 Canadian dollars. It appears that cannabis stocks continue to be a favorite among investors, as stocks such as Cronos Group (CRON), Tilray (TLRY), and Canopy Growth (CGC) (WEED) all gained over 10% during the day.
Shares of companies in the cannabis business were broadly, and in many cases sharply lower, despite marijuana becoming fully legal in Canada. The ETFMG Alternative Harvest ETF tumbled 6.5% in morning trade, with 27 of 37 components trading lower, to extend Tuesday's 3.7% pullback. Among the more active pot stocks, Canopy Growth Corp. dropped 8.2%, Tilray Inc. lost 6.0%, Aurora Cannabis Inc. plunged 15%, Cronos Group Inc. slumped 9.9%, New Age Beverages Corp. shed 9.0%, India Globalization Capital Inc. slid 7.3% and MedMen Enterprises Inc. lost 6.0%. As of Wednesday, Canada became only the second country in the world to legalize marijuana for recreational use. The pot sector ETF has now gained 39% over the past three months, while the S&P 500 has slipped 0.2%. More about the emerging cannabis sector: A guide to pot stocks: What you need to know to invest in cannabis companies
Rapper Berner's most recent collaborations are with famous, marijuana-loving musicians like Wiz Khalifa, Snoop Dogg and B-Real. Berner is often credited with the creation of some of the most popular marijuana strains in the U.S., including Girl Scout Cookies, Gelato and Snowman. The serial entrepreneur and rapper first brought up his cannabis, accessories and clothing brand Cookies.
Without a doubt, Canopy Growth (CGC)(WEED) has been one of the hottest cannabis stocks on the market (MJ). The company is one of the most valuable companies, ahead of Aurora Cannabis (ACB) (ACBFF) and Aphria (APHQF). The overall consensus recommendation for Canopy Growth in October is a “buy.” As the above chart shows, two analysts maintained a “strong buy” on the stock, while five analysts maintained a “buy” recommendation on the stock in the current month.
Shares of Green Organic Dutchman Holdings Ltd. surged 5.3% in premarket trade Tuesday, after the organic medical cannabis company said it received its medical sales license from Health Canada. The license is in accordance with the Access to Cannabis for Medical Purposes Regulations for the Canada-based company's Ancaster, Ontario facility. "As we prepare for our Founders Club product launch in January 2019, this is a critical step in our path to becoming the global leading organic cannabis brand," said Chief Executive Brian Athaide. "We have been perfecting our organic grow methodology in Ancaster and are prepared for the Q1 launch to medical patients across Canada followed by the launch in adult use markets in Q2." The stock has gained 0.5% over the past three months, while the ETFMG Alternative Harvest ETF has rallied 52.5% and the S&P 500 has slipped 1.7%.
Shares of Tilray Inc. shot up 5.7% in premarket trade Tuesday, after Benchmark analyst Mike Hickey started coverage of the Canada-based medical cannabis and cannabinoid company with a buy rating and $200 price target. Hickey's price target is 21% above Monday's closing price $165.64. Hickey said his bullish view is based on the company's early leadership in the medical cannabis market in Canada, the upcoming full legalization of recreational marijuana in Canada and its strategic alliance with Novartis AG and supply agreements with Canadian pharmacies, international growth opportunities and a "meaningful" capital infusion from its initial public offering in July. "We believe establishing an early first mover advantage is critically important in the emerging cannabis market, particularly when it comes to building national and global scale, leading brands, and developing innovative products and form factors that use cannabis as an active ingredient," Hickey wrote in a note to clients. The stock has rocketed more than 7-fold since closing at $22.39 on its first day listed on the Nasdaq on July 19, while the ETFMG Alternative Harvest ETF has run up 55% and the S&P 500 has lost 1.9% over the same time.
A marijuana ETF climbed Monday after Canopy Growth (CGC) announced it acquired U.S. hemp company, Ebbu, to expand its product line. The ETFMG Alternative Harvest ETF (MJ) , first U.S.-listed ETF to target the cannabis and marijuana industry, increased 5.8% Monday. Canopy Growth argued that its acquisition will "complement and accelerate" its ambitions to expand into new types of consumer products, CNBC reports.
Amy Margolis has been practicing law for more than 15 years. Not long ago, Margolis opened The Commune, a 4,000-square-foot venue for marijuana-friendly events with office and boardroom space. Why did Margolis get into cannabis work?
When the composition of an index changes, ETFs that track it must adjust their holdings. Such an index change can have significant consequences for investors.
Investors have been seeing a lot of red the past couple of days, but rising amid the Dow Jones Industrial's 1,300-point loss in the last two trading sessions are the ETFMG Alternative Harvest ETF (MJ) and cannabis stocks-- Tilray (TLRY) and Canopy Growth Corporation (CGC) . All three were up as of 1:15 p.m. ET--MJ rose 3.5%, TLRY up almost 8% and CGC ticked higher 2.8% as the Dow attempts to pare its losses this week. Tilray, in particular, saw its valuation multiply almost tenfold thus far this year after a frenzy of investor interest last month skyrocketed its stock price to over $250 before selling off to its current level of $140. MJ, The first U.S.-listed ETF to target the cannabis and marijuana industry, is now up 23.58% year-to-date and 30.35% within the past year, according to Yahoo! Finance performance numbers.
It's estimated that legal cannabis sales in the U.S. could reach $10 billion this year and more than double within the next five to six years. The sector continues to face many challenges, such as an inability to work with banks, a constantly changing regulatory environment and the problem of attracting investors. Cryptocurrencies: A Solution To Weed Industry's Banking Problems? American cannabis companies are predominantly cash-only businesses.
It seems that anyone who invests in marijuana stocks these days has a fundamental reason why they’re backing a particular horse in what’s become the world’s biggest stakes race.10 S&P 500 Stocks to Buy for the Long Term
Cannabis company MedMen Enterprises Inc. announced Thursday a binding letter of intent to buy medical cannabis provider PharmaCann LLC in a stock deal valued at $682 million. The combined company would have cannabis licenses in 12 states that would allow it to operate 79 cannabis facilities. "This is a transformative acquisition that will create the largest U.S. cannabis company in the world's largest cannabis market," said MedMen Chief Executive Adam Bierman. MedMen's stock, which closed Wednesday at $4.22, has rallied 11% over the past three months, while the ETFMG Alternative Harvest ETF has run up 30% and the S&P 500 has gained 0.4%.
Tilray Inc.'s stock price target was nearly tripled at Cowen & Co. to more than 10-times the cannabis company's initial public offering price, with analyst Vivien Azer calling seeing a large total addressable market (TAM) opportunity supported by existing demand. Azer raised her target on the stock to $172, which is 34% above current levels. The stock, which went public on July 19 at an IPO price of $17, fell 7.5% in morning trade, but was still up 66% over the past month.Meanwhile, the ETFMG Alternative Harvest ETF has gained 12% the past month while the S&P 500 has edged up 0.6%. "While we had initially focused on the adult use opportunity when we launched on cannabis over two years ago, the well-capitalized cannabis industry has been evolving rapidly and looks to address a far larger TAM than we had originally forecast," Azer wrote in a note to clients. She envisions four key business lines for outperform-rated Tilray and its peers, such as adult use, beauty and nutraceuticals, over-the-counter pain and sleep and pharmaceuticals.
When exchange-traded funds first arrived in the early 1990s, they were primarily tools for professional traders and investors. ETFs certainly weren’t expected to make big inroads into asset-gathering at the expense of mutual funds, threaten Wall Street’s profits, change the financial advisory business, or be likened to encroaching Marxism.
During Constellation Brands’ (STZ) earnings call, the company offered insight into its rationale on choosing Canopy Growth (WEED) (CGC) as its partner in the cannabis industry. Constellation Brands mentioned Canopy Growth’s large share in supplying cannabis for recreational use in Canada, as you can see in the following chart. Constellation Brands stated that it chose Canopy Growth because it’s a medical cannabis leader in Canada.
Launched in 2016, Heally is a software solution that connects consumers to knowledgeable medical professionals and high-quality health and wellness products with an emphasis on cannabis. Heally’s “telehealth” platform connects patients with physicians who provide advice and consultation. In states where medical cannabis cards are still needed, patients can obtain one using Heally.
On October 3, Tilray (TLRY) gained 13.5% to close the day at $156.80 per share. Tilray announced on October 3 after the market closed that it intends to raise $400 million of convertible senior notes from the private market through the exempt (for prospectus) market in Canada. Cannabis companies (MJ) Canopy Growth (CGC) (WEED), Aurora Cannabis (ACB), and Cronos (CRON) have seen a huge need for capital lately, and Tilray is no different.
Domestic stocks impressed in the third quarter with the S&P 500 finishing the July through September period with a gain of 7.4%. Even with that, the number of exchange-traded funds (ETFs) posting third-quarter gains of 10% or more is not particularly gaudy.
India Globalization Capital Inc. , known by cannabis investors as IGC, ran up 53% in midday trade Tuesday, but has pared earlier gains of as much as 62%, after famed short seller Andrew Left's Citron Research tweeted, "This hype stock is the poster child of a cannabis bubble." Citron said investors able to short the stock, they should consider it a "gift," as the company has no product and is "all hype." Citron said it has a target on the sock at "$6 fast," which would be 56% below current levels. The stock started shooting higher last week, after the company said it entered the cannabidiol-infused energy drink market with its agreement to distribute "Nitro G." The stock has rocketed 2,682% over the past three months, while the ETFMG Alternative Harvest ETF has climbed 36% and the S&P 500 has gained 7.4%.