|Bid||49.64 x 1100|
|Ask||49.68 x 1400|
|Day's Range||49.02 - 52.54|
|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||107.67|
U.S. vaping products distributor Greenlane jumped on its first day of trading. Marijuana stocks were up ahead of the Greenlane IPO.
As the trend of marijuana legalization continues, cannabis-related stocks continue to proliferate. But fundamentals and technicals remain weak for many of the stocks in this space.
Cannabis producers and sellers are scrambling to secure product and cultivation space as the substance goes mainstream in Canada and parts of the U.S. The common thinking is that demand for high-quality products will exceed supply for some time as more regions legalize medically and recreationally. Production potential is key, and one emerging company, Item 9 Labs, plans to quadruple their production by the end of this year, and they're planning to enter new markets through licensing and permitting in the next 12 months as well. NEW YORK, NY / ACCESSWIRE / April 18, 2019 / It may feel slow-going, but U.S. states are slowly coming around on medical marijuana use.
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.
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”
The cannabis industry has grown in recent months and years, and many companies in the cannabis and health-related industries have been uplisted to reputable U.S. exchanges. Learn about the marijuana stocks on the Nasdaq.
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
Irwin Simon Says Aphria Will Hit 1 Billion in Sales by 2020Aphria’s earnings Earlier this week, Aphria (APHA) reported its Q3 earnings. During the earnings call, the company’s interim CEO, Irwin Simon, was very optimistic about the company’s
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.
Canopy Growth Continues to Expand amid Market Weakness(Continued from Prior Part)Acquiring CafinaEarly today, Canopy Growth (WEED) (CGC) announced it had acquired Spanish company Cafina, through which Canopy intends to establish a broader reach in
TLRY, CGC, ACB Snap Out of Their Losing StreaksCannabis sector gains Today, overall cannabis sector sentiment appeared to improve with the Horizons Marijuana Life Sciences ETF (HMMJ) gaining 1.7% while the ETFMG Alternative Harvest ETF (MJ) gained
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
HOUSTON, TX / ACCESSWIRE / April 16, 2019 / Patent applications from cannabis companies offer a look into the battle to secure intellectual properties in the U.S. The patent application can be used as a basis for obtaining patent protection in over 170 countries, including the US, Canada, the UK, France, Germany, Russia, China, Brazil, Japan, and Australia.
OrganiGram: Key Takeaways from Its Q2 Earnings(Continued from Prior Part)Analysts’ views OrganiGram (OGRMF) reported its second-quarter earnings on April 15. The company’s top line increased more than 690%. However, the company reported a
OrganiGram: Key Takeaways from Its Q2 EarningsOrganiGram’s second-quarter earningsOn April 15, OrganiGram (OGRMF) reported its second-quarter earnings with net revenues of 26.9 million Canadian dollars. The revenues grew ~693% from 3.4 million
Over the past year, investors have gotten an opportunity to invest in cannabis stocks on U.S. exchanges - and yes, there has been lots of exuberance. Yet the companies -- like Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and Cronos Group (NASDAQ:CRON) -- have all been Canadian-based because of legal issues.Source: Shutterstock But things will change soon. Yes, this Thursday we'll see the launch of the Greenlane IPO. This cannabis company is based in Boca Raton, Florida.OK then, how is it able to deal with the legal restrictions? Well, the key is that Greenlane does not grow or sell cannabis. Rather, the company is focused on vaporization products and accessories for the industry. A big part of the distribution model involves a channel of more than 6,600 independent smoke shops and retail chains.InvestorPlace - Stock Market News, Stock Advice & Trading TipsGreenlane also operates two highly popular web sites: VaporNation.com and VapeWorld.com. Last year, they averaged 292,000 unique monthly visitors and over 4,900 monthly transactions. All this is backed up with an extensive supply chain.Note there are six distribution centers in the U.S. and Canada. And last year, they facilitated the shipment of more than 17.1 million product units. * 7 Mid-Cap Stocks to Find the Market's Sweet Spot No doubt, the company has an extensive inventory of products, with more than 5,000 SKUs. They range from pipes to grinders to cleaning products to rolling papers. What's more, in light of the passage of the Agriculture Improvement Act of 2018, the firm has started to offer CBD products. This could provide a nice boost for the Greenlane IPO. The CBD market does look poised for strong growth, as Brightfield Group estimates the spending could hit $22 billion by 2022.In terms of the brands, Greenlane carries premium vaporizers like Storz & Bickel's Volcano, the PAX 3, Firefly and JUUL (which has the dominant marketshare in the U.S.). The company is also developing its own proprietary brands, which should allow for higher margins. Growth and Risks of the Greenlane IPOWhen it comes to the Greenlane IPO, the focus for investors will likely be on the growth of the top line. The good news is that the performance has been impressive. In 2018, revenues came to $178.9 million, up from $88.3 million in the prior year. The company is also EBITDA positive, at $4.1 million in 2018.Now the Greenlane IPO does have some notable risks. First of all, there is heavy dependence on a handful of suppliers. For example, PAX Labs accounts for 15.6% of net sales and JUUL Labs is at 36.5%.However, perhaps the biggest issue is the potential impact of regulations. According to the Greenlane IPO prospectus: "The FDA has recently expressed growing concern about the popularity among youth of the products of JUUL Labs and other manufactures of flavored ENDS products, and regulatory actions may impact our ability to sell these products in the United States or online." Bottom Line on Greenlane StockSo what might we see from the Greenlane IPO? Well, of course, it's pretty tough to predict what might happen. IPOs can be quite volatile, as we've seen with Lyft (NASDAQ:LYFT). Not long ago, that deal looked like a sure-fire winner.But with the Greenlane IPO, the valuation is reasonable -- at least by the standards of the cannabis industry. Based on the current pricing, the price-to-sales ratio is about 3.6, so it would not be a surprise to see a pop when the stock opens. Yet as with any IPO, it's a good idea to not put too much of your money on any particularly deal, as the volatility can be stomach churning.Regarding the Greenlane IPO, the company plans to issue 5.3 million shares at a range of $14 to $16 and the shares will list on the NASDAQ under the ticker of GNLN. The lead underwriters include Cowen and Canaccord Genuity.Tom Taulli is the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post Cannabis Company Greenlane Gets Ready for an IPO appeared first on InvestorPlace.
The market opportunity for cannabis is enormous. According to Grand View Research, the spending is expected to hit a staggering $146.4 billion in the U.S. by the end of 2025.Nowadays there are more publicly traded companies to play this megatrend, including names like Canopy Growth (NYSE:CGC), Aurora Cannabis (NYSE:ACB), Cronos Group (NASDAQ:CRON), and Tilray (NASDAQ:TLRY). Beyond these stocks' extreme volatility, they also fetch sky-high valuations, with price-to-sales multiples often well over 50x.So, is there way to get exposure to the cannabis opportunity -- but not take on too much risk? Interestingly enough, there is one such stock to consider: AbbVie (NYSE:ABBV). It's a company that rarely pops up on many people's radar screen when it comes to cannabis. After all, it's one of the world's largest traditional pharma operators, with roots going back to 1888. Keep in mind that ABBV stock was spun-off from Abbott Laboratories (NYSE:ABT) in 2013.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo what does ABBV stock have to do with cannabis? Well, consider that the company has a drug on the market, called Marinol. It is based on a compound known as dronabinol, a synthetic form of THC, which is a natural part of the marijuana plant (that is, cannabis sativa). This is what activates the "high." * 7 High-Risk Stocks With Big Potential Rewards Now Marinol has proven to be effective in dealing with the symptoms of a host of terrible diseases. For example, it helps deal with the nausea from chemotherapy and the weight problems resulting from those who suffer from AIDS.Granted, Marinol is not a blockbuster drug. But then again, it does show the promise of cannabis as a treatment. More importantly, as for AbbVie stock, the drug is an indication of the company's ability to push innovation with alternative treatments. In other words, it would not be a surprise that it will go on to leverage this experience to look at more treatments.What's more, the use of cannabis for medical purposes is certainly a major opportunity. There are already 41 countries that allow for this, whether on a federal or state level. Bottom Line on AbbVie StockGranted, it would not be a good idea to invest in AbbVie stock just because it has a cannabis drug. To be sure, as seen with the latest earnings report, the company does have some problems as it issued disappointing guidance. Since early this year, ABBV stock has sunk from $91 to $81.The nagging issue is the company's most important drug, Humira (this is for the treatment of arthritis, plaque psoriasis, Crohn's disease, and ulcerative colitis). For the most part, the growth is slowing. And yes, there are worries about when the U.S. patent protection comes off in 2023. * 8 Risky Stocks to Watch as Earnings Season Kicks Off Despite all this, I still think there is a bullish case for AbbVie stock. One, the company has a decent roster of drug candidates that could move the needle -- and help make up for a shortfall in Humira. For example, it has several immunology treatments (risankizumab and upadacitinib) that should hit the markets this year. Interestingly enough, when it comes to the pipeline, AbbVie has lots of potential with the cancer market. To this end, its drug Imbruvica is likely to spin-off various treatments for the category.And who knows, perhaps there could be potential from cannabis as well? I think so.In the meantime, AbbVie stock sports a dirt-cheap valuation, with the forward price-to-earnings multiple at only 8.6x. Oh, and the dividend is at 5.15%, making it one of the highest among the major pharma companies.Tom Taulli is the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post Is AbbVie Stock An Undiscovered Cannabis Play Waiting For Some Attention? appeared first on InvestorPlace.
Aphria Declines, Other Cannabis Stocks FollowAphria fellEarly on April 15, Aphria (APHA) released its third-quarter earnings, which missed the expectations. The company’s losses widened to 108 million Canadian dollars due to a write-off
Aphria Reported Its Q3 Earnings, Stock Fell(Continued from Prior Part)Aphria swings to lossesEarly on April 15, Aphria (APHA) reported its third-quarter earnings. The company had quarterly losses of ~108 million Canadian dollars. The losses were
Aphria Reported Its Q3 Earnings, Stock FellAphria’s earnings Early on April 15, Aphria (APHA) reported its third-quarter financial results. The company reported revenues of 73.6 million Canadian dollars, which grew ~617% year-over-year and ~240%
Is There More Upside to Planet 13 Holdings Stock?Stock performance As of April 12, Planet 13 Holdings (PLTH) was trading at 3.17 Canadian dollars, which represents a rise of 112.8% since the beginning of this year. The company is trading at a
Cannabis Sector Was Disappointing Last WeekCannabis sector The week ending April 12 was disappointing for the cannabis sector. Most of the stocks ended the week on a negative note. The sector ETFs were broadly lower last week. For example, the
Dorothy might say there's no place like home. But for Aurora, there's no place like away from home.