|Bid||34.11 x 1100|
|Ask||35.21 x 800|
|Day's Range||33.89 - 34.66|
|52 Week Range||23.01 - 45.40|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||2.40|
|Expense Ratio (net)||0.75%|
The AdvisorShares Pure Cannabis ETF, or YOLO, plans to undercut its competitors with pricing and debut just days before an unofficial pot holiday.
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.
Burger chain Carl’s Jr. will test a CBD-infused cheeseburger for one day, 4/20 of course, at one restaurant in Denver, and in time for breakfast.
CGC, HEXO, CTST Moving Higher Today(Continued from Prior Part)Tilray mutedOn April 17, Tilray (TLRY) remained muted, with the stock almost flat as of noon. The stock remained depressed as the overall cannabis industry has slumped in April.
CGC, HEXO, CTST Moving Higher TodayCannabis sector gains Today, the Horizons Marijuana Life Sciences ETF (HMMJ) gained about 0.3% and the ETFMG Alternative Harvest ETF (MJ) gained about 0.3% in the first half of the trading session. However, the
BofA Merrill Lynch Initiated Coverage on Canopy Growth(Continued from Prior Part)Analysts’ ratings Early on April 17, Bank of America Merrill Lynch initiated coverage on three cannabis stocks. Aurora Cannabis (ACB) received a “buy”
U.S. investors craving cannabis exposure via the exchange traded funds have, since late 2017, one choice: the ETFMG Alternative Harvest ETF (NYSE: MJ). AdvisorShares' efforts to launch YOLO were highlighted in a Securities and Exchange Commission filing out earlier this year.
Irwin Simon Says Aphria Will Hit 1 Billion in Sales by 2020(Continued from Prior Part)Analyst ratings The consensus analyst rating on Aphria (APHA) after its earnings were released remained unchanged compared to the previous month. As the chart
Faith in marijuana stocks is starting to dissipate at the start of the week after a number of headwinds from last week have continued to leach into investors' minds and force them to question the longer-term strength of the marijuana space more broadly. The two pot stocks we're watching this week are Aphria (NYSE:APHA) and Tilray (NASDAQ:TLRY).Source: Shutterstock Last week, one of Cowen & Co.'s top marijuana market analysts, Vivien Azer, cited potential headwinds that could bear down on cannabis producers.And yesterday morning, a major earnings disaster in a popular pot stock echoed the analysts' concerns as well as a preexisting narrative that sales of marijuana might slow considerably in the months ahead.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSpecifically, Azer cited oversupply and quality control issues as reasons for "lowering her first-half expectations for a handful of Canadian growers." In some cases, the lower quality cannabis might be "un-sellable." The ETFMG Alternative Harvest ETF (NYSEARCA:MJ), which tracks key marijuana growers, dropped more than 5% over the past five days as a result of the negative outlook.And Aphria -- yesterday morning's big-time earnings flop -- dropped nearly 15% on Monday, April 15.After considering this lackluster product and the possibility of fewer sales, the short-term case for some marijuana stocks has certainly become a bit murkier. But is it all doom and gloom in the marijuana space?The following are two of the key cannabis stocks to watch this week: Aphria and Tilray. Aphria (APHA)The pain APHA investors suffered Monday morning will remain seared in the minds of marijuana stock investors for days to come. Aphria reported "[a]n adjusted net loss of C$0.20 per share … year-over-year, and missed the Street by C$0.16." * 10 Stocks That Are Screaming Buys Right Now But perhaps more damaging for the stock wasn't its failure to satisfy Wall Street estimates, as InvestorPlace contributor Vince Martin points out in his earnings breakdown, only a few analysts are currently setting the tone for APHA stock.Rather, upon closer examination, it's the less impressive growth narrative for the stock that has caused some investors to flee. In Martin's words, although "[r]evenue rose 617% year-over-year … the numbers aren't as impressive as the headlines suggest. Aphria is growing its pot business -- but perhaps not as fast as a $2 billion-plus valuation suggests it should be."Adding to the sizable dip in APHA stock is the fact that a potential buyout by Green Growth Brands (OTCMKTS:GGBXF) is no longer on the books, causing some investors to question whether the company can hold its own against the competition or if the company might not see another offer any time soon. Tilray (TLRY)TLRY stock joined Aphria in the dive yesterday, dropping more than 7%.In-line with Azer's assessment of the marijuana space last week, TLRY stock has come under scrutiny lately for potential oversupply issues in Canada, which might affect the company's longer-term growth narrative. The hype around the pot business is expected to lose some of its vigor as supply and demand for marijuana begin to balance out. * 7 Dental Stocks to Buy That Will Make You Smile Adding salt to the wound in Tilray is the fact that the negative outlook isn't just coming from analysts, nor is it just confirmed by its peers in the space like APHA. As InvestorPlace Feature Writer James Brumley asserts in his latest in-depth analysis of TLRY stock, the less-than-positive perspective came straight from Tilray's CEO Brendan Kennedy during a March earnings call, where he stated that he expects marijuana to "erode in value in the medium to long term, as the market normalizes." This normalization is expected to occur "[o]ver the next 18 months."Despite the negative short-term outcast, analysts still collectively expect an upside of more than 87% for TLRY stock over the next 12 months (an average price target of $107). Whether this is a realistic number for TLRY to reach may become clearer when the company next reports earnings on Jun. 17.Wall Street still expects an earnings-per-share loss of 29 cents on revenues of $24.85 million for the report. But we might expect the story behind Tilray (and analysts expectations) to change in light of Aphira's earnings-based pain yesterday.As of this writing, Robert Waldo did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Medical Marijuana Stocks to Cure Your Portfolio * 8 Best Stocks to Buy for an April Rally * Top 20 Stocks to Buy for 20-Somethings! Compare Brokers The post 2 Hot Marijuana Stocks to Watch This Week appeared first on InvestorPlace.
TLRY, CGC, ACB Snap Out of Their Losing Streaks(Continued from Prior Part)Aphria trading higher Aphria (APHA) lost about 14% in yesterday’s trading session after it reported its earnings. The company wrote off 50 million Canadian dollars relating
Canopy Growth Continues to Expand amid Market WeaknessMarket weaknessThe cannabis sector has weakened recently. Most cannabis stocks ended March in negative territory, and this trend has worsened in April. Tilray (TLRY) and CannTrust (CTST) have
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.
Why Did Cannabis Stocks Fall on April 15?(Continued from Prior Part)Cannabis stocks Cannabis stocks were deep in the red on April 15. The sector is known for high volatility. Stocks in the cannabis space are more volatile compared to broader
Cannabis stocks were mostly lower Monday, led down by Aphria Inc. after it swung to a wide loss in the third quarter that overshadowed a surge in revenue.
Canada-based Aurora Cannabis Inc. announced Tuesday an agreement to buy the Hempco Food and Fiber Inc. shares it doesn't already own in a deal that values Hempco at C$63.4 million ($47.4 million). Aurora's U.S.-listed shares rose 0.7% in premarket trade, after falling 4.2% on Monday to close at a 1-month low. Under terms of the deal, Aurora will pay C$1.04 for each of the 48% of Hempco shares outstanding that it doesn't own, which is 14% above Monday's closing price. "This transaction will enable us to fully integrate Hempco and its new Nisku processing facility into Aurora's global hemp operations including Agropro, Borela and ICC," said Aurora Chief Executive Terry Booth. "Our goal is to strengthen our CBD-from-hemp supply chain as well as our hemp business of hemp-based superfoods, nutraceuticals and fibers." Aurora's stock has run up 71.6% year to date through Monday, while Hempco shares have lost 13.3%, the ETFMG Alternative Harvest ETF has rallied 35.9% and the S&P 500 has gained 15.9%.
Aphria Declines, Other Cannabis Stocks Follow(Continued from Prior Part)Sector declinesAround mid-day, most of the cannabis stocks fell after Aphria (APHA) reported disappointing earnings. The ETF Horizons Marijuana Life Sciences ETF (HMMJ)
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.
Cannabis Sector Was Disappointing Last Week(Continued from Prior Part)Sectoral weakness Last week, Cronos Group (CRON) ended in the negative territory. Cronos Group had a weekly decline of 7.4%, which was in line with the broader sectoral weakness.
What It Means for Canopy Growth to Be Part of S&P/TSX 60 Index(Continued from Prior Part)Funds from funds With the inclusion in the S&P/TSX 60 Index, Canopy Growth (WEED) now becomes open to funds that are only focused on index investing as a
CGC, CRON, and GTBIF Reverse Their Falling Streaks on April 12(Continued from Prior Part)Breaking the losing streak Cannabis stocks have recently experienced weakness amid concerns surrounding a global slowdown and companies missing their earnings
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.
Benzinga is all geared up to host its third rendition of the Cannabis Capital Conference , full of big-time investors, top industry executives and reporters from around the world. If you haven’t already ...
Green Thumb Industries: Analysts' Views in April(Continued from Prior Part)Lower valuations Green Thumb Industries (GTBIF) has experienced selling pressure in April. However, the company isn’t alone. The overall cannabis sector faced weakness. Most