|Bid||65.46 x 0|
|Ask||65.76 x 0|
|Day's Range||62.78 - 68.70|
|52 Week Range||11.71 - 76.68|
|Beta (3Y Monthly)||2.04|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 14, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||62.39|
Canada on Wednesday became the first industrialized nation to legalize recreational use of marijuana – but at least one major investor still isn't convinced that pot stocks are a good bet.
TORONTO/VANCOUVER (Reuters) - Canada became the first industrialized nation to legalize recreational cannabis on Wednesday, but a lawful buzz will be hard to come by in its biggest cities like Toronto and Vancouver, where stores are not yet open. The day was historic for the country as Canadian adults can now legally smoke recreational marijuana after nearly a century-long ban. Despite the early problems, the move is a political win for Prime Minister Justin Trudeau, who vowed to legalize cannabis during his 2015 election campaign.
TORONTO , Oct. 17, 2018 /CNW/ - Cannabis Growth Opportunity Corporation (CGOC.CN), ("CGOC", or the "Company"), a cannabis focused investment corporation with both public and private cannabis holdings, is pleased to announce the company's updated net asset value per common share ("NAV") of $3.03 at the close of business on October 15, 2018 . This represents growth of 30.8% since our Initial Public Offering at the beginning of this year. Information about the company's holdings is available at www.cgocorp.com. CGOC's top ten public investments as of October 15, 2018 (in alphabetical order) are: Aldershot Resources (ALZ.V), C21 Investments (CSE:CXXI), Canopy Growth (WEED.TO), CannTrust (TRST.TO), Indiva Ltd. (NDVA.V), HEXO Corp. (HEXO.TO), Organigram (OGI.V), Planet 13 (CSE:PLTH), Valens GroWorks (CSE:VGW), and Village Farms (VFF.TO).
The launch of the recreational cannabis industry in Canada will be a volatile ride, but the companies forming the industry seem prepared.
According to Arcview Market Research and its research partner BDS Analytics, over the next 10 years, thelegal cannabis industry will see much progress around the globe. Spending on legal cannabis worldwide is expected to hit $57 billion by 2027. Right now, investors are looking at a number of cannabis companies working to take full advantage of this market boom including Next Green Wave (NGW), Aphria Inc. (APHQF)(APH), and Canopy Growth (CGC)(WEED).
HEXO (HEXO), which has a partnership with Molson Coors, rose almost 5.4% on October 15 to 8.95 Canadian dollars. In the current month, the overall consensus recommendation on HEXO is a “buy,” which remained unchanged from September. The current consensus price target on HEXO in October stood at 8.7 Canadian dollars, which increased slightly from 8.6 Canadian dollars in September.
Smith Falls, Ontario–based Canopy Growth Corp. made headlines and drove cannabis stocks to new heights over the summer, after it announced that Corona beer-maker Constellation Brands Inc. was going to invest an additional $4 billion in the company.
Everything you need to know about the big picture and investing implications of Canada's decision to legalize cannabis.
Cronos Group (CRON) is one of the few Canadian cannabis stocks (HMMJ) listed in the US stock market. Canopy Growth (CGC) (WEED) and Tilray (TLRY) are two other stocks that are also listed in the US market. On October 15, Cronos Group announced that it partnered with Technion Foundation to develop cannabis-based skin-care treatment products. The stock rose almost 18.5% to close at 15.2 Canadian dollars. Let’s look at analysts’ recommendations and price targets on the stock.
All of the major cannabis stocks fell the day before recreational cannabis goes on sale in Canada for the first time. The Horizons Marijuana Life Sciences ETF (HMMJ) lost almost 4.7% during the day. In contrast, the overall market was in positive territory with the TSE Composite Index rising by 1.1% and the S&P 500 Index rising by 2.2% on October 16.
The Zacks Analyst Blog Highlights: Altria, Coca-Cola, PepsiCo, Constellation and Canopy Growth
Aurora Cannabis (ACB) (ACBFF) stock rose by 9.9% to its highest level of 15.1 Canadian dollars on October 15. With just one more day until recreational cannabis will be sold legally in Canada, investors (HMLSF) are hopeful that Aurora Cannabis will emerge as a strong player. Overall, the current consensus analyst recommendation for Aurora Cannabis in October is a “buy,” which remained unchanged from September.
SMITHS FALLS, ON and ST. JOHN'S , Oct. 17, 2018 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO) (CGC) is pleased to join Canadians and cannabis advocates from around the world in celebrating today's legalization of recreational cannabis in Canada . With the dawn of this new day, Canada becomes the first G7 nation to legalize and regulate recreational cannabis, and the first to do so while ushering in a diverse, professional retail marketplace for cannabis products. To celebrate the day, the Company's Founder and Co-CEO Bruce Linton completed (what the company believes was) the first legal sale of recreational cannabis in Canada at the Tweed flagship store on Water Street in St. John's, Newfoundland at 12:00 a.m. Newfoundland Time.