|Bid||62.08 x 0|
|Ask||62.12 x 0|
|Day's Range||60.25 - 62.19|
|52 Week Range||27.00 - 76.68|
|Beta (3Y Monthly)||4.76|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||73.30|
Canopy Growth Corp. was upgraded to buy from hold on Monday by analyst Martin Landry at GMP, after the company last week bought the rights to acquire U.S. multi-state operator Acreage Holdings Inc. as soon as cannabis is legalized in the U.S. "This transaction should boost Acreage's ability to consolidate the US market," Landry wrote in a note to clients. "Hence, when Canopy officially takes ownership of Acreage, it could be much larger than currently." The deal gives Canopy a foothold in the U.S. market, which is estimated at about $10 billion, or 10 times larger than Canada, which fully legalized cannabis last October. Acreage is already in 20 states with 87 dispensaries and 22 cultivation and processing sites. Canopy is paying $3.4 billion, equal to a valuation multiple of 21.5 times consensus EBITDA for 2020. "In our view, this takeout multiple is low given the strategic nature of the acquisition and the potential for continued strong growth as 2021 consensus estimates forecast Acreage's EBITDA to double over 2020," Landry wrote. "Furthermore, valuations of MSOs are likely to be higher upon legalization." The analyst raised his stock price target by $7 to $72, or about 21% above its current trading level. U.S.-listed shares rose 1.8% in premarket trade and have gained 89.3% in the last 12 months, while the S&P 500 has gained 8.5%.
SMITHS FALLS, ON, April 22, 2019 /PRNewswire/ - In the spirit of Earth Day, Canada's best-known cannabis brand is thrilled to officially launch the Tweed x TerraCycle recycling program across Canada. Previously available in select stores and provinces, today's announcement officially marks the roll out of Canada's first country-wide Cannabis Packaging Recycling Program. As we approached legalization of recreational cannabis in Canada, Tweed realized a solution was needed for all the new containers, tubes and packages in our industry, to ensure they are diverted away from landfills and upcycled into other products.
How Wall Street Views HEXO in AprilHEXOLast week, HEXO (HEXO) was among only a few stocks in the cannabis sector that managed to end in the positive territory with a weekly gain of about 7.4%. The stock has held up pretty well compared to peers
Aphria Had a Tough Week after EarningsAphria fell Last week was tough for Aphria (APHA). The company lost nearly 23.6% from the week ending April 12 to the week ending April 18. The stock fell after its earnings release, which disappointed
Canopy's $3.4 billion purchase of Acreage Holdings is unlike anything Wall Street or investors have ever seen.
Harvest Health & Recreation, Inc. (OTC: HRVSF ) CEO Steve White joined Yahoo's Jeff Lagerquist onstage Thursday at the Benzinga Cannabis Capital Conference to discuss consolidation in the marijuana industry. ...
Cannabis stocks rallied on Thursday before paring their gains, boosted by the news that the biggest company in the sector by market cap has bought the rights to acquire a U.S. multistate operator as soon as the federal ban on cannabis has been lifted.
Amy Margolis identified a problem in the burgeoning Oregon cannabis industry, so she set out to solve it. The problem? Despite the industry’s newness and the encouraging early statistics about gender equity, a glass ceiling has developed in the cannabis business.
Constellation Brands is boosting its U.S. beer business while betting that marijuana products will deliver big sales.
It's 420. TheStreet's Jim Cramer discusses Canopy Growth, Tilray, Constellation Brands and other investing opportunities in the cannabis sector!
While cannabis stocks are blazing with popularity, our survey of readers shows that they are still not willing to commit their portfolios to the risky sector
Marijuana stocks: Canada's Canopy Growth agreed to buy U.S. pot grower Acreage Holdings for $3.4 billion - when the U.S. legalizes marijuana nationwide.
The stocks of Canada’s Canopy Growth and the U.S.’s Acreage Holdings rose Thursday after Canopy announced a deal for the rights to acquire Acreage.
White heaped additional praise on Linton, saying, “at some point, he’s going to do something. The acquisition of Acreage marks another standout move for Linton and Canopy, one of the premier names in the global cannabis market.
Canopy Growth's Acreage Acquisition Boosts SentimentThe gains The cannabis sector appeared to show optimism after Canopy Growth (WEED)(CGC) announced that it would acquire Acreage Holdings (ACRGF), a US multi-state cannabis operator with
Canopy Growth to Acquire Acreage Holdings(Continued from Prior Part)Canopy Growth jumps Canopy Growth (WEED) (CGC) announced that it will acquire Acreage Holdings for a total value of $3.4 billion, which led the company’s stock price to jump on
The deal is for the right to purchase Acreage if pot is legalized in U.S. If Canopy were to make the purchase now, it would be acquiring an illegal U.S. asset and its shares would be delisted.
Where are you putting your PINS in this market? Jim Cramer is breaking down the latest Wall Street action live.
Proposed Deal Complements Canopy Growth's U.S. CBD Strategy With An Accelerated Pathway Into U.S. Cannabis Markets, Once Federally Permissible Deal Structure Expected to Provide Improved Access to Capital ...
Marijuana M&A heats up, as Canopy buys Acreage. Bruce Linton, Canopy CEO, and Kevin Murphy, Acrage CEO, discuss with CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Brian Kelly, Steve Grasso and Guy Adami.
Canopy Growth stock is up today on news that it’s made a deal to buy Acreage Holdings. Yahoo Finance’s Zack Guzman and Kristin Myers are joined by Lauren Smith Brody, ‘The Fifth Trimester’ author and founder, to discuss.