|Bid||34.93 x 0|
|Ask||35.00 x 0|
|Day's Range||34.66 - 37.27|
|52 Week Range||6.58 - 44.00|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||37.35|
SMITHS FALLS, ON , May 23, 2018 /CNW/ - Canopy Growth Corporation (WEED.TO) ("Canopy Growth" or the "Company") is pleased to announce that it expects its common shares will begin trading under the ticker symbol "CGC" on the New York Stock Exchange (the "NYSE") tomorrow, May 24, 2018 . This listing follows a history of firsts for the Company including being the first publicly traded, federally regulated cannabis company in North America , and the first to be included in the S&P/TSX Composite index. "We're a company focussed on leadership, vision, and integrity and listing on one of the most prestigious exchanges in the world validates the level of execution and ambition our team has demonstrated," said Bruce Linton , Chairman & CEO, Canopy Growth.
FRA: 8IS1) is pleased to highlight major milestones as the fast-growing cannabis Company prepares for the coming recreational marketplace with new construction and development projects, fresh products and a dynamic and muscular approach to retail sales. Invictus has raised over $93 million dollars since inception and deployed funds into acquiring and expanding licenses under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). "Invictus was just beginning its march towards cannabis cultivation and sales a year ago.
On May 22, Aurora Cannabis (ACB) (ACBFF) added yet another name to its long list of partnerships ahead of legalized cannabis in Canada. The company acquired a 9.1% ownership interest in CTT Pharmaceutical Holdings through a private placement. This deal further has a provision for Aurora Cannabis to increase its stake to 42.5% in CTT.
Canada's main stock index edged lower on Tuesday, breaking its longest winning run in more than four years as shares of energy and materials companies lost ground. The TSX, which was closed on Monday for the Victoria Day holiday, has lagged many other major stock markets in 2018. "It is an old fashioned rally led by financials and oil companies," said Bruce Latimer, senior equity trader at Eight Capital.
The Scotts Miracle-Gro Company (SMG) received a recent upgrade from a “buy” to a “hold” from SunTrust Robinson Humphrey. The firm also raised its price target to $100 from $80, saying that the stock will likely see an upside when the hydroponics business takes off on the back of increased cannabis use. The stock had terrible first and second quarter results, and the stock is now 19.5% lower YTD (year-to-date) as of May 16.
Last week, the cannabis sector was broadly positive with the ETF Horizons Marijuana Life Sciences ETF (HMMJ) rising ~4.3%, the Evolve Marijuana ETD (SEED) rising 3%, the ETFMG Alternative Harvest ETF (MJ) rising 1.3%, and the Emerging Marijuana Growers Index ETF (HMJR) rising 0.4% between the close on May 11 and the close on May 18. Over the same period, the TSE 300 Index gained about 1.1%, while the S&P 500 Index fell 0.5%. Let’s look at how some of the cannabis stocks performed last week.
Supreme Cannabis (SPRWF) was in the news two days ago for its appointment of Colin Moore to its board of directors. Moore was previously the president of Starbucks Canada and has held positions with big brands such as PepsiCo and KFC. The mean ratings for the company changed from 1.8 in April, which is similar to Aurora Cannabis (ACB) and Canopy Growth (WEED), which have seen more bullish ratings month-over-month.
Cronos Group (CRON) reported its first-quarter earnings on May 15 with sales growth of almost 4.8x. Following the earnings release, the stock fell 5% on May 15 and fell another 3.4% on May 16 to 7.7 Canadian dollars. The company cut its recommendation to “sell” from “hold” but raised the price target to 6.5 Canadian dollars from 6 Canadian dollars.
On May 14, Aurora Cannabis (ACB) (ACBFF) announced that it agreed to acquire all of MedReleaf’s (MEDFF) outstanding common shares for about 3.2 billion Canadian dollars in one of the biggest deals in the cannabis sector (MJ). Following the news, MedReleaf stock was heavily traded with a volume of 3.3 million shares and closed at 25.3 Canadian dollars. Read MedReleaf Stock Rises on Aurora Cannabis Acquisition to learn more. Similar to Canopy Growth (WEED), the mean ratings for Aurora Cannabis also improved from 2.3 a month ago in April, which indicates that analysts were more bullish on the stock month-over-month.
With the anticipation of huge demand for cannabis, which translates into potential earnings growth, analysts are quite bullish on cannabis stocks in May. Most companies have seen increased bullishness over the last month, as we’ll discuss in this series. On May 15, Canopy Growth (WEED) stock was in the news again for its latest agreement to acquire Canopy Health Innovation and its subsidiary, Canopy Animal Health.
SMITHS FALLS, ON , May 16, 2018 /CNW/ - Canopy Growth Corporation (WEED.TO) ("Canopy Growth" or the "Company") is excited to join Canopy Rivers Corporation ("Canopy Rivers") in announcing a pitch day for up and coming cannabis entrepreneurs. As part of the event, Canopy Rivers will be offering up to $1,000,000 in seed capital to help cannabis entrepreneurs realize their business ideas in accordance with proposed regulations underneath the Cannabis Act (Bill C-45) and the new class of licenses including micro-growers, micro-processors, hemp production, lab testing, and other emerging industry segments including retail. Financial support, an industry leading ecosystem, and world-class expertise await the winners who, following a successful application, will be invited to pitch their vision to the Canopy Rivers team at the International Cannabis Business Conference in Vancouver, BC on June 24 and 25, 2018.
TORONTO , May 16, 2018 /CNW/ - Canopy Rivers Corporation ("Canopy Rivers", or the "Company") is excited to help foster growth in the Canadian cannabis landscape by hosting a pitch day for cannabis entrepreneurs ahead of impending adult use legalization. In accordance with the proposed regulations underneath the Cannabis Act (Bill C-45) and the new "micro" class of licenses, the Company is offering up to $1,000,000 of seed capital to support a diverse range of aspiring cannabis entrepreneurs. Canopy Rivers has developed an ecosystem of complimentary and best-in-class cannabis operating companies across all the various niches of the cannabis economy.
SMITHS FALLS , ON and TORONTO , May 15, 2018 /CNW/ - Canopy Growth Corporation (WEED.TO) ("Canopy Growth" or the "Company") and Canopy Health Innovations Inc. ("Canopy Health" or "CHI") are pleased to announce that, together with CHI's subsidiary, Canopy Animal Health Inc. ("Canopy Animal Health"), they have entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which Canopy Growth will acquire all of its unowned interest in CHI and, Canopy Animal Health, bringing its affiliated research arm fully into the broader Canopy Growth family. "Canopy Health has over-achieved in its mandate to create value and intellectual property (IP) relating to medical cannabis applications.
Today, Canopy Growth (WEED) stock surged more than 7% on news of its application to list its common shares on the NYSE (New York Stock Exchange). This news comes on the heels of Aurora Cannabis (ACB)(ACBFF) announcing its acquisition of MedReleaf (MEDFF) today. Read more in MedReleaf Stock Rises on Aurora Cannabis Acquisition.
Today, Aurora Cannabis (ACB)(ACBFF) announced that it agreed to acquire all of MedReleaf’s (MEDFF) outstanding common shares for about 3.2 billion Canadian dollars. On the other hand, Aurora Cannabis stock fell almost 2.5% to 7.9 Canadian dollars. According to Aurora Cannabis’s press release, the acquisition price of 29.4 Canadian dollars implies a premium of 34% over both companies’ 20-day VWAP (volume-weighted average price) common shares as of May 11.
Canada’s biggest marijuana company has applied to become the first pot producer to list on the New York Stock Exchange. Canopy Growth Corp., which already trades on the Toronto Stock Exchange under the ticker symbol WEED, said Monday it expects its shares to begin trading in New York under the symbol CGC before the end of May. Chief Executive Officer Bruce Linton said earlier this year that he was one day away from filing to list on the Nasdaq Stock Market but pulled back to focus on closing a deal with alcohol giant Constellation Brands Inc. He said Monday that he chose the NYSE over the Nasdaq because of the additional credibility it lends his company.
In the previous part of this series, we discussed how Canadian cannabis stocks’ (HMMJ) forward EV-to-EBITDA (enterprise value-to-earnings before interest, tax, depreciation, and amortization) multiple moved last week. In this part, we’ll compare how these producers’ multiples compare with each other.
In the previous part of this series, we discussed how the median forward EV-to-sales (enterprise value-to-sales) multiple of Canadian cannabis stocks (HMLSF) moved last week. In this part, we’ll look at how these producers’ multiples compare with each other.
Strong sentiment in the cannabis sector pushed ETFs and stocks into positive territory last week. The Horizons Marijuana Life Sciences ETF (HMMJ) closed 4.4% higher, while its US-listed counterpart, the Horizons Marijuana Life Sciences Index ETF (HMLSF), rose 4.8%. Similarly, the Emerging Marijuana Growers Index ETF (HMJR) rose 4.3%, and the Evolve Marijuana ETD (SEED) rose 2.5% between its close on May 4 and its close on May 11.
Canada-based cannabis and hemp company Canopy Growth Corp. has applied to have its stock listed on the New York Stock Exchange. The company expects to the stock to begin trading on the Big Board by the end of May, under the ticker symbol "CGC." Canopy said it was the first regulated cannabis producer to list shares in North America in 2014. "Once finalized, listing our shares on the NYSE will represent a continuation of our upward trajectory as we build the global cannabis industry," said Chief Executive Bruce Linton.
SMITHS FALLS, ON , May 14, 2018 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company")(WEED.TO) announced today it has applied to list its common shares on the New York Stock Exchange (the "NYSE"). The Company currently anticipates that, subject to the receipt of all required approvals, its common shares will begin trading on the NYSE before the end of May 2018 .
SMITHS FALLS, ON , May 14, 2018 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO) is pleased to announce that it has entered into a non-binding agreement (the "Agreement") to purchase, subject to certain conditions, the remaining 33% stake of BC Tweed Joint Venture Inc. ("BC Tweed") not currently owned by the Company. The consolidation of the two largest licensed cannabis facilities in the world into full Canopy Growth ownership cements the Company's commitment to shareholder value through scale production. Canopy Growth, upon closing of the transaction, will issue up to $374 million worth of shares in the Company, subject to the satisfaction of certain conditions, to the minority shareholders of BC Tweed (the "Operators").
FRA: 8IS1) is pleased to announce that cannabis from the company's AB Laboratories Inc. (AB Labs) is now available for purchase through Canopy Growth Corporation's (WEED.TO) Tweed Main Street online store and to-date AB Labs has transferred 172 KG of product to Canopy. The strain Super Critical is available now as part of Tweed's elite CraftGrow line, and AB Labs anticipates shipping their other strains in the near future. "Canadian medical cannabis patients value product diversity and we're committed to offering them an industry leading curated lineup from Tweed and our CraftGrow partners," said Mark Zekulin , President, Canopy Growth.
NEW YORK, NY / ACCESSWIRE / May 11, 2018 / Research Driven Investing strives to provide investors with free daily equity research reports analyzing major market events. Take a few minutes to register with ...