|Bid||41.23 x 0|
|Ask||41.47 x 0|
|Day's Range||39.80 - 42.91|
|52 Week Range||19.77 - 76.68|
|Beta (3Y Monthly)||2.42|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||66.83|
Jim Cramer continues to back Canopy Growth Corp. as the best way to invest in the growing Canadian cannabis space after tobacco giant Altria invests in its rival, Cronos Group.
When the going gets tough in the Canadian marijuana market, there could be a surprising winner.
Congress passed the Farm Bill this week, which President Trump is expected to sign, opening the floodgates for rapid growth in the hemp-derived CBD product market in the U.S.
CORAL GABLES, FL / ACCESSWIRE / December 14, 2018 / For marijuana stocks and those that trade them, the most recent announcements surrounding the US Farm Bill this week have become somewhat of a catalyst for the industry. Not only has it caused a stir with US pot stocks but Canadian marijuana stocks are also seeing more activity this week. With marijuana stocks in focus, here are 4 pot stocks to watch this month.
On December 14, Tilray (TLRY) announced that it’s investing in ROSE LifeScience—a cannabis producer in Quebec. The agreement between Tilray’s subsidiary High Park Farms and ROSE LifeScience entails an exclusive sale, distribution, supply, and marketing agreement. Tilray will spend 7.5 million Canadian dollars, which accounts for 12% in capital for ROSE LifeScience.
For a long time, we’ve discussed how product differentiation will be key to the success of cannabis producers (HMMJ) in such a crowded market. Companies within the cannabis space know this very well and are making early moves to develop and acquire intellectual property rights from other companies to be able to develop unique products that may someday be a blockbuster for the companies. On December 3, Canopy Growth (WEED) announced a multiyear agreement with Valens GroWorks (MYMSF).
After the significant decline in Aphria’s (APHA) value last week, the company provided some respite to investors by purchasing shares worth $3.1 million. The company announced a special committee that consists of independent directors who will review the allegations that led Aphria’s downfall. On December 13, Aphria stock fell ~9.5% to 7.04 Canadian dollars.
International markets are becoming more important for cannabis companies (MJ). Tilray (TLRY), Aurora Cannabis (ACB), Canopy Growth (WEED), and Cronos Group (CRON) each have international operations, as you can see in the following chart.
Following Altria’s news, Cronos Group (CRON) received target price upgrades from notable investment management companies. On average, four companies (MJ) upgraded Cronos Group’s target price by nearly 70%.
SMITHS FALLS, ON , Dec. 13, 2018 /CNW/ - Canopy Growth Corporation (WEED.TO) (CGC) ("Canopy Growth" or the "Company") announces today that it has entered into a multi-year extraction agreement with Valens GroWorks Corp. (VGW.CN) (MYMSF) ("Valens"), a licensed, vertically integrated provider of cannabis products and services focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification. Under the terms of the multi-year agreement, Valens will utilize their proprietary technology and methodologies to process the Company's whole flower and trim into high-grade cannabis resin.
In the last three days, Cronos Group (CRON) generated optimism in the cannabis industry (HMMJ). The market was wary about Aphria (APHA). Cronos Group’s optimism was fueled by Altria’s stake in the company.
On December 12, Mississauga and Markham voted against opening private cannabis retail stores for now. The Mississauga city council voted 10-2 against allowing private cannabis retail stores to operate in the city. The Markham city council voted 12-1 against opening private cannabis retail stores.
On Dec. 11, the Consumer Analyst Group of New York hosted a group luncheon where Canopy Growth Corp. (NYSE: CGC ) CEO Bruce Linton presented. Wells Fargo analysts attended the luncheon and presented their ...
The "Farm Bill is the first step to active" involvement in the U.S. by Canopy Growth, CEO Bruce Linton told CNBC Wednesday. The $867 billion bill, which was passed by both the U.S. Senate and House of Representatives, includes a provision for industrial hemp legalization. The legislation has been cited by numerous public cannabis companies as the catalyst to formally enter the American market, according to Cowen analyst Vivien Azer.
Jim Cramer, the widely followed host of Mad Money on CNBC, gave his opinion on the deal between Cronos Group (CRON) and Altria on December 11. Cramer called Altria’s acquisition of a 45% stake in Cronos Group last week a “smart move” for Altria. This trend brings some concern for the growth trajectory of companies such as Altria.
On December 11, New Zealand’s government made way for medical cannabis legalization. New Zealand already allowed a few patients to access medical cannabis. The new law makes medical cannabis widely accessible to more patients.
Investorideas.com, a leading investor news resource covering hemp and cannabis stocks, releases a snapshot looking at the growing opportunity for the CBD pet market and how companies that are positioned in the cannabis space are adding pet markets to their growing portfolios. According to the American Pet Products Association (APPA), $69.51 billion was spent on pets in the U.S in 2017 and it’s estimated that number will grow to $72.13 billion for 2018. Canadians spend $6.6 billion a year on their pets according to recent numbers.
Lightning strikes in the markets can come in the form of a partnership or investment from larger established companies. It's also a top way to find validation for mining companies. Ecuador is a hotbed of investment activity right now, and a few small juniors have found big validation from majors in the region.