70.02 -0.23 (-0.33%)
After hours: 5:56PM EDT
|Bid||70.02 x 1400|
|Ask||70.40 x 1800|
|Day's Range||69.31 - 71.25|
|52 Week Range||20.10 - 300.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||108.50|
CVS has announced it will begin to sell topical CBD products at stores in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee. Yahoo Finance’s Dan Roberts, Akiko Fujita, Sibile Marcellus, and Alexis Keenan talk about the pharmaceutical chain’s decision to go green.
Florida-based Greenlane Holdings, a distributor of premium vaporization products and consumption accessories, said it applied to list its class A common stock on the NASDAQ Global Market under the ticker symbol "GNLN." The company plans to rasie up to $92 million. The bookrunners for the offering are Cowen and Canaccord Genuity. Greenlane has yet to determine the number of shares and the price range for its offering and will make the prospectus available through Canaccord and Cowen.
CRON, ACB, CGC, APHA, and Other Cannabis Stocks Trend LowerCannabis sectorThe overall cannabis sector was trading almost flat to negative in the first half of March 21. The Horizons Marijuana Life Science ETF (HMMJ) was flat a 23.1 Canadian dollars
Canopy Growth Sets Its Eyes on the US Market(Continued from Prior Part)Hemp’s potential Previously in this series, we discuss some of the product research from ebbu—Canopy Growth’s (WEED) (CGC) US subsidiary. With the announcement of the
March Update: Analysts’ Ratings for TLRY, IIPR, and SPRWF(Continued from Prior Part)Innovative Industrial PropertiesLast week, Innovative Industrial Properties (IIPR) reported its earnings. The company reported sales of $4.7 million, which more
Canopy Growth Sets Its Eyes on the US MarketNew acquisitionOn March 20, Canopy Growth (WEED) (CGC) announced that it signed a multiyear extraction agreement with HollyWeed. The company is back in the news with yet another event. Early on March 21,
March Update: Analysts’ Ratings for TLRY, IIPR, and SPRWF(Continued from Prior Part)Tilray’s disappointing earningsTilray (TLRY) just reported its earnings earlier this week. Since then, the stock hasn’t moved much. The company reported total
March Update: Analysts’ Ratings for TLRY, IIPR, and SPRWFAnalysts’ ratings Cannabis stocks have been highly volatile. Playing the volatility game can be risky. Investors (HMMJ) could use analysts’ consensus view on a stock to gauge and
Whereas in the past, society largely condemned cannabis and refused to consider the potential benefits of investing in cannabis and/or utilizing cannabis products, those feelings are slowly dissipating. The positive shift in public opinion can be attributed to the fact that the medical community has released data supporting the use of cannabidiol as a form of alternative treatment, given its effectiveness as an anti-inflammatory. Like other sectors whirring with innovation, the cannabis industry is rapidly progressing into the future and, rather than be left behind, investors looking for potential opportunities may want to keep cannabis companies on their radars.
Cannabis Sector Is in the Red on March 20(Continued from Prior Part)The gainersNot all cannabis sector (MJ) stocks suffered losses on March 20. Canopy Growth (WEED) (CGC) was trading in the green. Its stock rose nearly 2.3% after the company
Canopy Growth Rises on News of Extraction Agreement(Continued from Prior Part)Value-added products Canopy Growth (WEED) (CGC) aims to launch an array of products to serve a variety of customer tastes and preferences. These products will
Shares of cannabis stock Tilray (NASDAQ:TLRY) certainly have had a wild ride since coming public last July at $20. TLRY stock traded all the way up to $300 before crashing back to earth. While the stock is well off those euphoric highs, it still has farther to fall following an earnings report that had more questions than answers.Source: Shutterstock Tilray reported earnings Monday, with the company, as expected, reporting a net loss of 33 cents per share. Gross margins fell sharply from 57% to 20% due to the need for third-party procurement. Revenue for the fourth quarter came in at $15.5 million and for full year 2018 of $43.1 million -- for a company with a market cap approaching $7 billion dollars!!While I am a believer that the cannabis industry is still in high-growth mode, valuing a stock with less than $50 million in current annual sales at nearly $7 billion is beyond ludricrous, in my opinion.InvestorPlace - Stock Market News, Stock Advice & Trading TipsGrowth stocks such as TLRY trade more on technicals and momentum rather than fundamentals. The price action seen yesterday in Tilray stock post earnings is very emblematic of a short term top. Shares opened higher and on the highs of the day only to falter and close lower and on the lows of the day. * 5 Cloud Stocks to Help Your Portfolio Fly This was also an outside reversal day (or bearish engulfing pattern) , occuring when the high and low prices for the day exceed the high and low of the previous trading session. It shows that the bears have taken control from the bulls and signals a shift in overall psyche. Click to EnlargeImplied volatility (IV) crashed following earnings and is now at the nearly the lowest readings ever. This is another bearish sign that complacency may be a little too high. Tilray stock remains difficult, if not impossible, to borrow to go short the stock outright.The options market provides an alternative way to take a guarded short position, however. Tilray Stock Trade IdeaSell TLRY June $85 calls and buy TLRY June $90 calls for a 70-cent net credit.Maximum gain on the trade is $70 per spread with maximum risk of $430 per spread. Return on risk is 16.27%. The short $85 strike price provides a 21.79% upside cushion to the $69.79 Tuesday closing price of TLRY stock.Tim Biggam may hold some of the aforementioned securities in one or more of his newsletters. Anyone interested in finding out more about Tim and his strategies can go to https://marketfy.com/item/options-and-volatili More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Invincible Stocks Leading The Bull Market Higher * 5 Dow Jones Stocks Coming to Life * 7 of the Best High-Yield Funds for 2019 and Beyond Compare Brokers The post Tilray Stock May Have Further to Fall After Earnings appeared first on InvestorPlace.
What to Expect from Cronos Group’s Q4 Earnings(Continued from Prior Part)Net incomePreviously in this series, we saw that Cronos Group (CRON) is expected to report a positive gross income and negative EBITDA in its fourth-quarter earnings release
Canopy Growth Rises on News of Extraction AgreementCanopy Growth’s new agreement On March 20, Canopy Growth (CGC) (WEED) announced that it had entered into a multiyear extraction and processing agreement with HollyWeed North Cannabis. HollyWeed
Tilray (TLRY) is one of the most exciting companies in the cannabis space and we were interested to see how they were going to fair. This would be the first quarter showing sales from post legalization in Canada and would be Tliray’s year-ended fourth quarter. The company reported revenue increased 110% over the prior year to $43.1M thanks to dry bulk and new recreational sales in the legal adult use market in Canada. The company further reported a higher net loss as compared to the prior year with $67.7M net loss in 2018 compared to a loss of $7.8M in 2017.Its always good to have some insight into the current financial climate of the industry and we were interested as to what type of guidance would be provided on the call. Given the recent partnership and acquisition activity for the company, it would be interesting to hear what the growth strategy would be going forward. We believe one of the more interesting comments made by CEO Brendan Kennedy on the call were his remarks with regards to his state of the market in Canada: “To capitalize on global growth opportunities in both medical and adult-use cannabis, Tilray will deploy capital in most promising markets where we see the greatest potential to pursue multiple paths to growth. The United States and European markets are orders of magnitude larger than Canada. So, while Canada will continue to be an important market for us, we expect to focus the majority of future investments on the U.S. and Europe. We will not purchase or invest in what we believe to be overpriced supply assets in Canada, which we believe will erode in value in the medium to long term, as the market normalizes." This is certainly notable as he believes the markets for the greatest growth are outside Canada, where many of the largest LPs, as measured by both market capitalization and production capacity are located.As also noted in the conference call, a large part of the Tilray growth story will be its strategic partnerships and acquisitions. Despite not landing a large equity deal similar to its competitors, Canopy Growth Corp. and Cronos, Tilray has several other strategic partnerships which will assist them in their domestic and international growth. Tilray and InBev will both be contributing $50M to work in conjunction to create a non-alcoholic beverage with THC and/or CBD components. Their other large deal with Sandoz AG (a subsidiary of pharmaceutical giant Novartis) is to co-brand medical cannabis products. InBev and Novartis are two of the biggest players in their respective spaces and we are interested to see how these partnerships will play out over both the short and long term. The most notable acquisition of quarter was Tilray’s purchase of Manitoba Harvest for $317M. Manitoba Harvest is the world’s largest natural hemp producer. This acquisition is strategically beneficial as it gives Tilray them access to hemp farmers and the related distribution network.There are clearly many exciting developments occurring at Tilray and they have become critical player in the industry. The earnings and revenue figures were not out of line with respect to many analysts’ predictions. We believe the true value in Tilray will be how well their strategic and partnerships and acquisitions are leveraged to grow their operations both domestically and internationally.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Disclosure: I/we are long TLRY. This article is for informational purposes only and should not be considered as professional investment advice. More recent articles from Smarter Analyst: * Can Tesla (TSLA) Stock Rebound from Underwhelming Model Y Rollout? * Seattle Time Spills the Beans on Boeing's (Allegedly) Flawed 737 MAX * Advanced Micro Devices (AMD) Stock Has More Room to Shine * Last Minute Thought: Buy or Sell Micron (MU) Stock Before 2Q19 Report?
What to Expect from Cronos Group’s Q4 Earnings(Continued from Prior Part)ProfitabilityPreviously in this series, we saw that Cronos Group (CRON) is expected to report sales growth of almost 459% year-over-year in the fourth quarter. Let’s
What to Expect from Cronos Group’s Q4 EarningsFourth-quarter earnings Cronos Group (CRON) is scheduled to report its fourth-quarter and fiscal 2018 earnings on March 26 before the market opens. The company will hold an earnings call on the same
Tilray Inc. finally showed investors that it is capable of selling recreational pot in Canada, but emphasized its pivot to markets in the U.S. and Europe that it will need to justify its swollen market value.
Cannabis stocks are mostly higher, as investors digest Tilray Inc.’s earnings and the latest moves by New Jersey and Pennsylvania to pave the way toward legalization.
Sales growth and partnerships aside, pot stock Tilray leaves a lot to be desired.
Numbers By Barron’s is a two-minute financial podcast with three vital numbers to start your morning. The financial markets are hinting at a rate cut in 2020, which has some people worried about a recession. The decline came after U.S. regulators filed a statement claiming that chief executive Elon Musk had violated a court order.