|Bid||3.5700 x 0|
|Ask||3.6400 x 0|
|Day's Range||3.4800 - 3.6900|
|52 Week Range||1.7400 - 7.1000|
|Beta (5Y Monthly)||0.82|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The selloff in the market and in Canopy Growth (NYSE:CGC) stock both continue. Markets plunged again earlier this week, and Canopy stock hasn't been immune to the selling pressure. Now, shares trade back where they did in 2017.Source: Jarretera / Shutterstock.com As I've argued over the past few weeks, investors need to keep their cool. This selloff has not been easy and certainly has not been fun. But over time, the economy and the markets will recover.In the meantime, however, the volatility is dispiriting. However, as I've told subscribers of my Cannabis Cash Weekly service, in these environments investors sometimes have to step back and let the chaos play out.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTaking that step back, the opportunity in CGC stock becomes more clear. The long-term growth opportunity in cannabis is delayed -- not eliminated. Canopy is the industry's leader, and should remain so. In fact, it may emerge with an even stronger position. * 10 Stocks to Invest In for a Post-Coronavirus Whipsaw Canopy isn't going anywhere. This, too, shall pass -- and when it does, CGC stock will rally sharply. Canopy Cuts BackEven before panic gripped the markets, it was becoming increasingly clear that the cannabis industry was headed for a shakeout. And that shakeout is almost guaranteed at this point.In the sector as a whole, there is too much debt and too much capacity. Canopy chief executive officer David Klein made precisely that point in an interview on Feb. 14. "There's not a lot of market demand for cannabis production facilities," he told Yahoo! Finance. "There's a lot of capacity in Canada and no logical buyers."That capacity is why Canopy announced earlier this month that it was closing two facilities in British Columbia. Furthermore, a greenhouse project in Ontario also is being canceled. Canopy isn't throwing good money after bad.Wall Street largely cheered the move -- for good reason. It cuts Canopy's costs, and in turn, speeds its path toward profitability. It also keeps the company from participating in "race to the bottom" pricing in wholesale cannabis.It's also a decision many other cannabis companies won't be able to make. An Industry Shakeout LoomsCanopy can make that decision because of its fortress balance sheet. In 2018, Constellation Brands (NYSE:STZ,NYSE:STZ.B) invested some $4 billion into Canopy Growth.Much of that money has been spent. Canopy has made acquisitions, and spent heavily to build out production assets. In fact, it's clear in retrospect that previous management spent too much. That's a key reason why Constellation sent Klein -- formerly its chief financial officer -- to take the top spot at Canopy.However, Canopy still has a good chunk of that cash remaining. As of Dec. 31, the company had 2.3 billion CAD (about $1.6 billion) in cash on its balance sheet. With losses coming down and long-term debt of just 536 million CAD ($373 million), the company is in excellent financial shape.To put it simply, Canopy isn't going bankrupt -- but other producers will. There's a real chance the equity in Aurora Cannabis (NYSE:ACB) gets wiped out, one reason I've long recommended even cannabis bulls avoid that name. Moreover, MedMen Enterprises (OTCMKTS:MMNFF) had to call off its acquisition of PharmaCann -- likely due to financing worries. Its OTC stock price -- just 19 cents -- shows its desperate state.The news is just as bad, if not worse, for many smaller, private operators. Those companies don't have the cash to weather store closures or any short-term effects.Canopy, however, does. And that positions it well going forward. How CGC Stock Can BenefitCertainly, a worldwide pandemic is not how anyone hoped the cannabis industry would become more rational. But it's also likely that the response to the coronavirus from China simply will be the catalyst, not the cause. Given debt levels and overcapacity, many smaller operators were going to fail regardless.That said, Canopy would benefit either way. In fact, a recent transaction shows how. Last week, Canopy and TerrAscend (OTCMKTS:TRSSF) entered into a loan agreement. Canopy is lending TerrAscend 80.5 million CAD, backed by TerrAscend's assets.The loan has an interest rate of 6.1% annually over the next decade -- but that's not the prize. Canopy also received more than 17 million warrants to buy TerrAscend shares, most of them at an exercise price of 3.74 CAD per share.If TerrAscend, which currently trades below 2 CAD, posts a huge rally, Canopy will get its money back while also owning a nice chunk of the company at an attractive price.If it doesn't, though, Canopy has first claim on its assets, brands, and retail operations.This kind of savvy deal is what Klein was hired to make. And it highlights the opportunities Canopy will have for the next few years. The company can patiently wait out the upheaval in its industry, and pick its spots to make investments that can drive significant value.Of course, that's exactly what investors should be doing right now. As they do so, they should give at least a long look to Canopy Growth stock.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 of the Best Long-Term Stocks to Buy in a Bear Market * 7 "Perfect 10" Healthcare Stocks to Buy Now * Where the FANG Stocks Sit in This Wild Market The post When the Smoke Clears, Canopy Growth Stock Will Be a Winner appeared first on InvestorPlace.
TerrAscend (CSE: TER) (OTCQX: TRSSF) announced that it has received a permit to cultivate medical marijuana from the New Jersey Department of Health. The company's subsidiary TerrAscend NJ will immediately begin cultivation operations at its facility in Boonton Township, located in northern New Jersey. TerrAscend NJ is the second entity to receive its cultivation permit among […]The post TerrAscend Gets Cultivation Permit in New Jersey appeared first on Market Exclusive.
On November 27, 2019 Jason Wild, Chairman of TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) ("TerrAscend") acquired for his own account 50,000 shares of TerrAscend at a price of Cdn$3.42 per share. Mr. Wild is the principal of JW Asset Management Inc. which advises JW Funds, (consisting of JW Partners, LP, JW Opportunities Master Fund, Ltd., and Pharmaceutical Opportunities Fund, LP 2018). Mr. Wild purchased the shares for investment purposes.
TerrAscend (CSE: TER) (OTCQX: TRSSF) has closed the acquisition of Ilera Healthcare, a permitted cannabis cultivator, processor, and dispensary operators in Pennsylvania. This acquisition expands the company's licensed cannabis footprint to four U.S. states, in addition to its global reach into Canada and Europe. Hemp Technology (OTCPK: CPOW) has signed an agreement to purchase Pettanicals Pet Treats, a […]The post Cannabis Stock News Daily Roundup September 23 appeared first on Market Exclusive.
TerrAscend (CSE: TER) (OTCQX: TRSSF) has closed the acquisition of Ilera Healthcare, a permitted cannabis cultivator, processor, and dispensary operators in Pennsylvania. TerrAscend is setting up global cannabis business operations. The acquisition expands the company's licensed cannabis footprint to four U.S. states, in addition to its global reach into Canada and Europe. Ideal Partner Matthew Johnson, the […]The post TerrAscend Finds 'Ideal' Cannabis Company in Pennsylvania appeared first on Market Exclusive.
Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) has reported its financial results for the fourth quarter and fiscal year ended June 30, 2019. Revenue was C$19.01 million, up from C$3.55 million for the fourth quarter of 2018. Net loss for the quatre was C$421,000, compared to a profit of C$234,000 for the same period last […]The post Cannabis Stock News Daily Roundup September 18 appeared first on Market Exclusive.
Canadian firm TerrAscend (CSE: TER) (OTCQX: TRSSF) has signed agreements to purchase ABI SF LLC, which operates a Bay Area cannabis cultivation facility and owns the State Flower brand. State Flower State Flower is a California-based cannabis producer operating a licensed facility in San Francisco, Calif. State Flower is focused on a craft approach to cultivation using genetics at an Envirocann certified facility. State Flower is […]The post TerrAscend Agrees to Acquire California Cannabis Brand appeared first on Market Exclusive.
Canopy Rivers (TSXV: RIV) (OTC: CNPOF) announced that its portfolio company TerrAscend (CSE: TER) (OTCQX: TRSSF) has signed agreements to acquire ABI SF, which operates a Bay Area cannabis cultivation facility and owns the State Flower brand. State Flower is known for its ultra-premium cannabis flower and is currently sold through dispensaries in California and Nevada. Vapen […]The post Cannabis Stock News Daily Roundup August 30 appeared first on Market Exclusive.
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) reported a loss of $21 million for the second quarter ending June 30, versus a loss of around $5.20 million for the same quarter of 2018. Earnings per share was a loss was $0.37, compared to a per-share loss of $0.05 for the second quarter of 2018. The company had sales […]The post TerrAscend Q2 Loss Widens On Operating Costs appeared first on Market Exclusive.
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) has signed an agreement to acquire Ilera Healthcare, one of five vertically-integrated cannabis cultivator, processor, and dispensary operators in Pennsylvania. Ilera's cultivation and processing facility in Waterfall includes a genetic library of over 170 cannabis strains, a state-of-the-art greenhouse designed for optimal plant growth and minimal environmental impact, clean […]The post TerrAscend to Acquire Pennsylvania’s Cannabis Company appeared first on Market Exclusive.