67.95 +0.17 (0.25%)
After hours: 6:32PM EDT
|Bid||67.30 x 800|
|Ask||67.95 x 800|
|Day's Range||67.01 - 69.49|
|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|
Following a 32-year career with Molson Coors in which he created Blue Moon, brewmaster Keith Villa has launched his own marijuana-infused beer called Ceria.
(TLRY) stock (ticker: TLRY) rose on Monday, after a bullish note from Cowen & Co. highlighted the relative stability of the cannabis company’s revenue base. The question now: Can it catch up to (ACB) (ACB) and Canopy Growth (CGC). Unlike some other cannabis stocks that have soared in 2019, Tilray has slipped about 2% since the start of the year.
How Cannabis Stocks' Valuations Stack Up amid Recent Weakness(Continued from Prior Part)Comparable multiplesThe recent movement in stock prices for cannabis players (HMMJ) also impacts valuation multiples. Below, we’ll discuss how the valuation
Cronos Group Rises ahead of EarningsCronos Group risesToday, Cronos Group (CRON) was rising ahead of its earnings release, which is expected tomorrow before the market opens. As of noon, the stock had climbed nearly 8.2%.In the fourth quarter, the
How Cannabis Stocks' Valuations Stack Up amid Recent WeaknessCannabis stocksThe cannabis sector has been facing some headwinds lately, and many of the sector stocks have fallen. When prices fall, it is often a good opportunity to buy stocks, as
A January survey by Cowen of retailers in five provinces found nearly half of all supply remained out of stock on e-commerce sites. Canopy is the No. 1 supplier on these sites, followed by Aurora, Tilray, and Cronos.
Cannabis stocks have gotten a lot of attention on Wall Street in the past year after a handful of popular Canadian growers started hitting the U.S. markets. U.S.-listed names like Canopy Growth Corp (NYSE: CGC), Tilray (NASDAQ: TLRY) and Aurora Cannabis (NYSE: ACB) get get most of the publicity.Source: Shutterstock However, OTC-traded stocks Curaleaf Holdings (OTC: CURL), Medmen Enterprises (OTC: MMNFF) and Green Thumb Industries (OTC: GTBIF) could be the best cannabis stocks to invest in. Path To LegalizationIn a new report, Roth Capital Partners analyst Scott Fortune says the cannabis industry has major long-term potential for investors. However, given the massive gains in the most popular stocks in the past year, near-term upside may be limited. Instead, Fortune says the best risk-reward skew in the cannabis space is with U.S. multi-state operators."In our view, the most promising public companies -- i.e., those whose stocks possess the most attractive risk/reward profiles -- are the U.S.-based MSOs -- which are assembling dominant positions in the most lucrative U.S. states," Fortune says.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 3 Things to Watch for Cronos Group Stock Ahead of Earnings Today, these operators are technically violating federal law, which classifies marijuana as a Schedule 1 drug. That classification also keeps these cannabis stocks from listing on the NYSE or Nasdaq exchange. However, Fortune says the STATES Act could be a game-changer for MSOs. The STATES Act wouldn't legalize cannabis on a national level. However, it would exempt companies and individuals from federal enforcement of marijuana laws when inside states with conflicting laws.This legislation would continue the U.S. along the path toward federal legalization and would embolden MSOs to continue to expand their operations. Fortune says once the legalization damn breaks, the financing flood waters will rush in."Federal protection, albeit illegal, has allowed creative risk taking entrepreneurs (MSOs) to quickly gather valuable assets ahead of an eventual large influx of capital investments," he says. Huge Opportunity for Cannabis StocksRoth estimates the $11 billion U.S. cannabis market will more than double in size -- to $23.4 billion -- by 2022. Ultimately, federal legalization will expand that market to at least $59 billion in size, Fortune says.In the long term, Fortune says the social stigma of cannabis will wear off. Eventually, the drug could have a market penetration similar to alcohol today. Roughly half the adult population in the U.S. drinks alcohol. At that penetration rate, the U.S. cannabis market could eventually approach $200 billion. As of early 2019, the top 10 MSOs had a combined market capitalization of around $20 billion. Fortune says that combined market cap could balloon to around $911 billion by 2023. Best Cannabis Stocks to Invest InFortune says the STATES Act will not only help eliminate cannabis marginalization, it will be a huge catalyst for MSOs. Banks located in states where cannabis is legal could be emboldened by the STATES Act and begin to finance cannabis ventures more freely. Investors will certainly see this access to capital as a bullish development. Fortune says MSO valuations could get a big boost as a result.The largest MSO in the U.S. today is Curaleaf, which operates in 12 different states. Curaleaf has a market cap of around $4.6 billion. CURL operates 35 dispensaries, 10 processing operations and 12 cultivation sites.The next largest U.S. cannabis MSO is Green Thumb Industries. Green Thumb operates in 9 states and has 9 manufacturing locations and 61 retail stores. GTBIF's market cap is around $3.1 billion.Finally, the third largest MSO stock is MedMen, which also operates in 12 states. MMNFF has roughly a $1.6 billion market cap. The company has licenses for 76 retail operations and 16 cultivation and processing sites.In addition to the potential for organic growth among MSO cannabis stocks, the industry is consolidating at a rapid pace. Any of these three stocks could be big buyers or even targets for larger companies in the years ahead. * 7 Marijuana Stocks to Play the CBD Trend There's certainly a lot to like about cannabis stocks and the cannabis industry. But investors should be careful about the buying frenzy that has taken place among the most popular names. While U.S.-listed stocks get all the publicity, CURL stock, MMNFF stock and GTBIF stock may be the cannabis stocks with the most upside.As of this writing, Wayne Duggan did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dual-Class Stocks That Will Outperform * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock * 7 A-Rated Stocks to Buy in the Second Quarter Compare Brokers The post Analyst's Top 3 Cannabis Stocks Are Not What You Think appeared first on InvestorPlace.
I can't think of a more exciting sector than legal marijuana. But like every industry, a fresh response is necessary following the honeymoon phase. For Cronos Group (NASDAQ:CRON), the company faces a critical earnings report for its fourth quarter. Although CRON stock has gained 70% this year, shares have traded flat since late January.Not only that, the company has incurred heavy volatility heading into fourth-quarter earnings. Further, significant movement in the options market suggests that traders anticipate a big move. Considering that technical momentum has dried up for nearly two months, and that analysts are skeptical of the sector's production capabilities, it's critical that CRON delivers the goods.On paper, the bar is set low. For earnings per share, covering analysts expect CRON stock to "break even" at 0 cents. Estimates range between a loss of a penny to a high of 1 cent. In Q4 2017, Cronos delivered EPS of a penny.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut the revenue picture is likely what most investors will focus on. Sales estimates range from $6.5 million to $6.6 million, with consensus averaging $6.5 million. If management hits this target, it would represent over a 300% lift year-over-year. That's an ambitious goal, but reaching it could do a lot of good for Cronos Group stock. * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock Of course, with such a dynamic industry, investors should be prepared for anything. Here are three key considerations for CRON stock ahead of its anticipated Q4 earnings release: Revenue Growth Remains a Strong Point for CRON StockAlthough aiming for a record-breaking $6.5 million sales haul in the upcoming quarter appears aggressive, it's actually quite reasonable. Going back to almost two years ago, Cronos has forwarded bonkers numbers. That's one of the reasons why CRON stock historically is such an outperformer. Click to Enlarge Since Q3 2017, Cronos revenue growth on a YOY basis averages 434%. Taking away this quarter's ridiculous 963% growth, we still have an average of just under 333%. Therefore, a 303% growth target for Q4 2018 is well within established trends.That said, legal marijuana understandably has viability and practicality concerns. If CRON fails to hit its revenue forecast, that could send a ripple effect into Cronos Group stock. Wall Street may perceive such a miss as an underlying sector problem that could also affect rivals like Tilray (NASDAQ:TLRY) and Canopy Growth (NYSE:CGC).Thus, Q4's revenue target presents a tricky situation. Yes, Cronos should reasonably attain this goal based on historical performance. But if it doesn't, the penalty will likely be severe. Inventory Concerns casts Cloud on CRON stockAmong the litany of criticisms against the cannabis industry, a common criticism is capacity. Several players have invested considerable funds acquiring marijuana production facilities. But analysts have voiced concerns that some of these buyouts don't make economic sense. For example, consider the hoopla surrounding Aurora Cannabis' (NYSE:ACB) acquisition of Whistler Medical Marijuana.This goes to show that capacity will always remain a highly-scrutinized metric. After all, a marijuana producer's viability is directly correlated to how much agricultural goods it can produce. However, another important and related figure to watch is inventory.When people talk capacity, they're talking about processed and packaged goods. It doesn't do Cronos Group stock any good if the underlying firm sits on an un-shippable supply glut. Looking at days inventory, though, management must reign this number in.It's not just the fact that the company reported over 748 days inventory in Q3 2018; this metric has risen uncomfortably high in recent quarters. * 5 Stocks To Buy for the Happiest Employees Again, management must trim this trend. If not, I'm not sure if a good narrative can save CRON stock in the nearer-term. What's CRON Doing with their Money?Last year, tobacco giant Altria Group (NYSE:MO) made headlines when it announced a $1.8 billion equity investment in CRON. Naturally, Cronos Group stock launched into orbit after the disclosure.But it wasn't just about the money. Instead, Altria gave Cronos and the entire marijuana industry a credibility boost. If a big company like Altria was willing to stick its neck out, it must recognize the sector's true potential.Specifically for CRON stock, Altria represented money growing on trees. With its massive partner's support, Cronos can embark on its expansionary ambitions.That's the good part. However, stakeholders don't want to listen to bedtime stories indefinitely. At some point, they want results. Inevitably, we have the obvious question: what's Cronos doing with the money?Boosting sales is one thing. However, shareholders also want efficient production, and eventually, a feasible roadmap to consistent profitability.Unfortunately, I'm not entirely convinced that CRON will give analysts what they're seeking in the nearer-term. Therefore, I'd take a cautious approach to Cronos Group stock heading into Q4.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dual-Class Stocks That Will Outperform * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock * 7 A-Rated Stocks to Buy in the Second Quarter Compare Brokers The post 3 Things to Watch for Cronos Group Stock Ahead of Earnings appeared first on InvestorPlace.
The cannabis producer lost a staggering amount of money in 2018, and investors are starting to worry about further losses ahead.
Cannabis Sector: Mixed Bag Last Week(Continued from Prior Part)Biggest losses The cannabis sector was mixed last week. In this part, we’ll discuss the stocks that moved in the same direction. The Horizons Marijuana Life Sciences (HMMJ) fell
Aurora Cannabis (NYSE:ACB) almost appears unstoppable. As a result, ACB stock has achieved highs not seen since before marijuana gained official legal status in Canada. Hemp legalization in the United States and the market's move higher have lifted both Aurora Cannabis and the stock of its peers.Source: Shutterstock However, this move higher has occurred despite Aurora making no moves into the U.S. hemp market. Moreover, ACB stock trades close to levels it saw before it started falling in October, portending a possible double top in the equity.Considering the stock price and other factors, investors should probably avoid Aurora Cannabis stock at these levels.InvestorPlace - Stock Market News, Stock Advice & Trading Tips A Rising Market, U.S. Hemp Has Reignited Cannabis StocksInvestors can find a lot to like about ACB stock. The company reported revenue growth of 387% in its last quarterly report. Moreover, its investments place it on track to become the largest producer in the industry by next year. * 10 Stocks on the Rise Heading Into the Second Quarter This may help explain why ACB stock has more than doubled from the $4.58 per share low the equity reached on Dec. 24. The overall market began a recovery at that time. Still, the U.S. government also signed a farm bill into law that granted legal status to hemp. Thus, Aurora and its peers not only gained access to the U.S. market, but they also benefit from a reignited boom in marijuana stocks.However, this boom is occurring south of the Canadian border in a country with nearly ten times the population. Moreover, reticence about cannabis remains in some parts of the U.S. Interestingly, this may help cannabis stocks as it will delay a potential "sell the news" event comparable to the stock swoon marijuana stocks saw following Canadian legalization.Now trading at just under $10 per share, it is now approaching the $12.52 per share high it achieved right before marijuana achieved full legal status across Canada. The Current ACB Stock Price Should Cause ConcernValuation offers little help when evaluating ACB stock. ACB trades at more than 80 times sales, and full-year profitability will not come until at least next year. However, that comes in lower than its largest peers: Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and Cronos Group (NASDAQ:CRON).However, ACB looks cheap only on a comparative basis. Also, high valuations could still influence ACB stock indirectly. So far, the stock has only traded above the $10 per share level for two weeks of its history. As the stock approaches its record high, investors could start to question the valuation. If I were to buy ACB, I would also want to know that the $12.52 level of last October is not a double top.Also, ACB's expansion outside of Canada appears perplexing. The company reported revenues of C$2.9 million ($2.17 million) outside of Canada. It has also expanded into 24 countries across five continents. However, even though it legally can, it has so far chosen not to follow its peers into the U.S. hemp market.Moreover, ACB has relied heavily on stock dilution to fund its expansion. With the company reporting losses and the stock trading at over 80 times sales, I can hardly blame the company for issuing stock to support its expansion. However, it reduces the incentive to pay high multiples. The Bottom Line on Aurora Cannabis StockAmid the recent rally, investors should probably avoid ACB stock at its current levels. Despite my view on ACB stock, Aurora continues to improve its market position. As a result of expansions, it may lead the industry in production by next year. Also, between massive revenue increases and the growth potential of the world cannabis market, one can understand why Aurora Cannabis stock trades at a premium. * 7 Retail Stocks That Will Continue to Rebound in 2019 However, ACB has spent very little of its history trading at or above current levels. To achieve significant growth, traders need to know that the equity is not forming a double top. Moreover, stock dilution has funded much of the company's expansion. This has likely hampered growth in ACB stock. Furthermore, it seems strange that Aurora Cannabis has not followed its peers into the U.S. hemp market. I expect the company to enter the U.S. at some point. Still, the fact that it will lag its peers in such a large market should concern investors.Given the moves to lead its peers in capacity and foreign expansion, I expect Aurora Cannabis to remain one of the more important companies in the industry for a long time to come. However, at current levels, I see more reasons for ACB stock to move down than up.As of this writing, Will Healy did not hold a position in any of the aforementioned securities. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Specialty Retail ETFs to Buy the Industry's Disruption * 5 Stocks To Buy for the Happiest Employees * 3 Out-of-Favor Consumer Stocks to Buy Compare Brokers The post Why You Should Sell Aurora Cannabis Stock Before It Reaches New Highs appeared first on InvestorPlace.
Though marijuana legalization may not be the top overall campaign issue heading into 2020, it remains an important part of many candidates' platforms.
Cannabis Stocks ACB, CRON, APHA, TLRY Trending Lower TodayCannabis sector trending lower The overall cannabis sector took a hit today amid the broader market’s declines. The volatility index (VIX) jumped 17.9%, and the cannabis sector is more
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
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.