|Bid||5.20 x 0|
|Ask||5.25 x 0|
|Day's Range||5.16 - 5.30|
|52 Week Range||3.88 - 28.30|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Las Vegas, December 9, 2019: Executive Vice President, Corporate Development Tyson Macdonald will participate in a panel discussion on institutional investing in the cannabis market. MJBizCon – Las Vegas, December 13, 2019: Senior Vice President, Chief Product and Innovation Officer Heather Boyd will participate in a panel discussion about major market opportunities for cannabis products branching into health, wellness and sports. Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information.
It's looking like cannabis stocks just might have bottomed out, and it has been a long time coming. In this week's episode of "Moneyline," Matt McCall wants investors to know that if they have a long-term perspective, the fundamentals really do matter. That's why he's still confident in pot despite its serious shellacking.Well, why's that? Just this week, the U.S. House of Representative's Judiciary Committee approved a bill that legalizes marijuana at the federal level. Many analysts say it's likely the bill will pass the Democrat-controlled House, but it faces a tougher battle in the Senate. But that doesn't matter. The existence of the bill itself is still a good sign for cannabis investors. McCall is declaring 2020 the year of cannabis -- politicians just need to wake up. He argues such legislation would essentially solve the vaping crisis and clear up issues with black-market marijuana.So how can investors play this week's good news? Start with U.S. cannabis companies. Take a look at Charlotte's Web (OTCMKTS:CWBHF) and Acreage Holdings (OTCMKTS:ACRGF). Those companies, along with a few others, are reporting annualized revenue between $100 million and $200 million. McCall says now is a perfect opportunity to build on existing positions in these names or add new ones, as these stocks have bright futures ahead. And while he's still a fan of the big Canadian names, there are better opportunities to get lit right now.InvestorPlace - Stock Market News, Stock Advice & Trading Tips McCall's PodcastThere's another emerging trend that McCall is big on: biotech stocks. There's one name in particular, Crispr Therapeutics (NASDAQ:CRSP), that's making big waves. CRSP stock is up an amazing 120% year-to-date -- and McCall identified this name earlier in 2019 as part of his Early Stage Investing portfolio for its potential in gene editing. * 7 Companies Using Artificial Intelligence to Outperform the Market This week's news easily justified CRSP's place in that portfolio. On Nov. 19, Crispr announced that patients receiving its CTX001 gene-editing therapy were experiencing significant benefits. This therapy is specifically designed for patients with severe blood disorders, and works by singling out and editing affected cells. One patient living with a form of beta thalassemia had been dependent on blood transfusions, receiving as many as 16 a year. After nine months with CTX001, that patient is now considered transfusion independent.McCall is particularly interested in the treatment's use in patients with sickle cell disease, a blood disorder that causes severe pain. And based on his recent travels to Lisbon, Portugal, healthcare will soon evolve to cure these diseases. In the future, he believes they'll even be cured at the embryonic level.So what else did he learn in Portugal? Tune in to "Moneyline" for more on his travels and the future of healthcare as it relates to artificial intelligence.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Companies Using Artificial Intelligence to Outperform the Market * 7 Earnings Reports to Watch Next Week * 6 Retail Stocks Dropping Hard Ahead of Black Friday The post Consider Adding New Positions in U.S. Cannabis Stocks appeared first on InvestorPlace.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) announced that on November 15, certain of its subsidiaries and Compassionate Care Foundation, Inc. (“CCF”), a New Jersey vertically integrated cannabis nonprofit corporation, entered into a Reorganization Agreement, pursuant to which Acreage will acquire 100% of the equity interests in CCF, and subsequently consolidate their financials. With a population of approximately nine million, New Jersey is estimated to generate $317 million in legal medical cannabis sales by 2022, according to Arcview Market Research. “I’m thrilled to finally welcome CCF into the Acreage family,” said Kevin Murphy, Chairman and Chief Executive Officer of Acreage.
This week was a rough one for slow-burning Canadian marijuana stocks. Headlines of big-name companies' miserable earnings dominated financial media coverage. But don't let Cronos Group's (NASDAQ:CRON) revenue miss and the post-earnings drop in CRON stock get you down. In this week's episode of "Moneyline," Matt McCall is here to reassure you that the long-term potential is still there. For now, you may just want to look to our home-grown American pot companies.Earlier this week, Cronos reported adjusted losses per share of 2 cents, actually beating estimates. But it seems like investors were more concerned with CRON's revenue of $10.1 million, which missed estimates of $10.45 million.For McCall, the biggest problem with CRON stock isn't its short-term performance. Heck, in the next five years, he's positive that marijuana will be legal at the federal level in the U.S. That will be a huge catalyst for struggling stocks. But to him, that doesn't completely justify Cronos' $2.2 billion market capitalization.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut just across the border in the United States, two marijuana stocks reported earnings worthy of even short-term optimism. Acreage Holdings (OTCMKTS:ACRGF), most famous for its pending deal with Canopy Growth (NYSE:CGC), reported revenue of $22.4 million. What's the catch? Acreage's market cap is just $340 million. And Charlotte's Web (OTCMKTS:CWBHF), one of McCall's favorite companies, reported the upcoming opening of a 136,000 square foot facility. That shows it's clearly ready to keep scaling. * 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside So don't let the headlines ruin your high just yet. As U.S. politicians debate federal legalization and the Food and Drug Administration works on reviewing the medical benefits of cannabidiol, investors should sit back and give marijuana stocks some time. McCall's PodcastSo, maybe you don't like marijuana stocks or pot in general. But what if you're an avid coffee drinker? Earlier in the year, McCall visited China to do boots-on-the-ground research. There, he checked in on recent IPO Luckin Coffee (NASDAQ:LK). After visiting a shop in Shanghai and tasting what LK had to offer, he wasn't initially impressed. But now, after Luckin reported revenue growth of 540% quarter-over-quarter, he's starting to sip on what LK stock has to offer.This company, often known as the Starbucks (NASDAQ:SBUX) of China, isn't the only hot stock he's starting to watch. Tune into this episode for three to watch -- and learn which one he sees as a "screaming buy." These three names, Sherwin-Wiliams (NYSE:SHW), Allegiant Travel (NASDAQ:ALGT) and Lululemon (NASDAQ:LULU) all play on big long-term themes that have him excited. And if you know McCall, you know he loves to invest based on these intense long-term trends.Make sure to listen in to this episode of "Moneyline" for more on stocks to watch and his reviews of Luckin Coffee's brew. Plus, you'll even get a preview of his recent travels to Portugal.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and+1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside * 7 Earnings Reports to Watch Next Week * 5 Online Retail Stocks to Buy on the Dip The post Investors Can Still Get High on American Marijuana Stocks appeared first on InvestorPlace.
NEW YORK, Nov. 12, 2019 -- Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), one of the largest vertically integrated cannabis operators in the U.S.,.
With these new dispensary openings, Acreage now owns or has management services, consulting or other agreements (including pending acquisitions) for 28 dispensaries that are currently open in 11 states, including 11 The Botanist branded dispensaries. Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information. Acreage owns licenses to operate or has management or consulting services or other agreements in place with license holders to assist in operations in 20 states (including pending acquisitions) with a population of approximately 180 million Americans, and an estimated 2022 total addressable market of $16.7 billion in legal cannabis sales, according to Arcview Market Research.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (0VZ.F) today announced it will participate in an institutional investor conference on November 13th. On Wednesday, November 13th, Acreage management will host investor meetings and participate in a cannabis industry panel discussion. Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information.
Acreage Holdings, Inc. (“Acreage Holdings” or “Acreage”) (ACRG-U.CN) (ACRGF) (0VZ.F) and GreenAcreage Real Estate Corp. (“GreenAcreage”), an independent real estate investment trust, today announced the closing of a series of sale-and-leaseback transactions for the sale of certain properties and facilities from Acreage Holdings to GreenAcreage for an aggregate of approximately $18 million to Acreage Holdings and approximately $23 million overall including payments to a third-party seller. The locations funded and closed today include facilities in Massachusetts, Florida and Pennsylvania. Acreage Holdings and GreenAcreage expect to close on additional facilities in Illinois and Connecticut within the next thirty days. Acreage Holdings is expected to undertake significant expansion at the properties sold and additional properties to be closed upon.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) will host a conference call on November 13, 2019 at 8:30 a.m. EST to discuss Acreage’s third quarter 2019 results, which will be released after market close on November 12, 2019. A webcast will be available and can be accessed via the Acreage’s Investor Relations website http://investors.acreageholdings.com. A playback of the call will be archived on Acreage’s website for approximately 30 days.
“We are thrilled to share the news that Greenleaf Apothecaries has resolved its dispute with the Ohio Board of Pharmacy in a way that allows Greenleaf to open its remaining three dispensaries in Cleveland, Columbus, and Akron, while maintaining its relationship with Acreage Holdings. Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced Kevin Murphy, Chairman and Chief Executive Officer of Acreage, executed an open market stock purchase for 100,000 shares through the OTCQX on October 8th. The transaction, valued at approximately $685,000, was executed on the OTCQX open market on Tuesday, October 8th, 2019. Combined with his open market stock purchase in July, the number of shares purchased on the open market by Mr. Murphy total 254,000. “While cannabis stocks remain in turmoil, I have never been more optimistic with respect to the future of Acreage,” said Murphy.
Cannabis stocks turned mixed on Thursday, as the initial euphoria sparked by the U.S. House of Representatives vote in favor of a bill that would protect banks that serve the industry faded, as analysts cautioned that the Senate is unlikely to give it a thumbs-up -- and may not even vote this year.
“This evening saw a milestone moment for our industry with the overwhelming and bipartisan passage of the SAFE Banking Act by the House of Representatives,” commented Kevin Murphy, Chairman and CEO of Acreage. As an industry leader, we have been advocating for the SAFE Banking Act to help deliver it to them.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (0VZ.F) today announced its management team will attend two institutional investor conferences on October 3rd. On Thursday, October 3rd, Acreage management will host investor meetings and present at the conference.
Cowen analyst Vivien Azer initiated coverage Friday of five multi-state cannabis operators, saying she's bullish on those that rely on the consumer packaged goods model given the higher margins, especially relative to those relying on the retail model. Azer started Green Thumb Industries Inc. at outperform with a stock price target of $18.50, Curaleaf Holdings Inc. at outperform with a $10.50 target, and Cresco Labs Inc. at outperform with a $14 target. "We believe that the greatest shareholder value will be created through businesses that emulate a traditional CPG finished goods model, given its superior margin structure," Azer wrote in a note to clients. Meanwhile, Azer started MedMen Enterprises Inc. at underperform with a $1.50 price target. "[MedMen] is the clear leader in the [California] market, with a distinguished brand, reflecting an attractive retail concept," Azer wrote. "However, to us, retail is less attractive than wholesale. And, an over-reliance on retail revenues today, coupled with excessive spending and notable management turnover, make this a'show-me' story." Azer also started Acreage Holdings Inc. at market perform with a $9 target, saying consolidation a of a "disparate network of dispensaries" and launching a "nascent brand strategy" could prove challenging. The ETFMG Alternative Harvest ETF was up 0.4% in afternoon trading, but has lost 28.7% over the past three months, while the S&P 500 has gained 3.5% in three months.
President Trump recently suggested that his administration is taking a closer look at legalizing cannabis at the federal level, moving beyond merely letting the states decide what's right. Such a move would be good for Canopy Growth (NYSE:CGC), CGC stock and most importantly, the president's reelection hopes in 2020. Source: Shutterstock First, before I get into the heart of the matter, let me remind readers that this isn't a political dissertation, it's an investment piece. I could care less whether Trump thinks legalizing at the federal level is a vote-getter, which it is because I'm Canadian. I have no dog in this fight, politically or philosophically. Instead, I'm interested in what this would do for the U.S. cannabis industry, on a general level, and for Canopy Growth, more specifically.InvestorPlace - Stock Market News, Stock Advice & Trading TipsLet me address both. What Federal Legalization MeansOne only needs to read the comments after an article on the subject to know that most Americans are supportive of federally legalized cannabis. "That's [Trump's comments] signalling to the rest of his Republicans that you know what, it's basically okay to have a view around cannabis. The reason he is doing it is because in the United States 95 per cent of the country believes in medical cannabis, and 66 per cent believe in adult-use or recreational cannabis," said Acreage Holdings (OTCMKTS:ACRGF) CEO Kevin Murphy recently.Just 11 states and the District of Columbia have legalized recreational pot. A total of 33 have legalized medical marijuana. That leaves 39 states where recreational cannabis is illegal and another 17 states that don't allow medical marijuana. Under the current situation, pot can't be transported across state lines because cannabis isn't legal at the federal level. This means that if you want to sell in Colorado, you've got to make it in Colorado or buy it from a grower that does. State politicians love this set-up because it means local jobs, taxes, etc. * 10 Buy-and-Hold Stocks to Own Forever However, in a country of 325 million, it's an incredibly inefficient way to operate an industry. Could you imagine if a company like Wayfair (NYSE:W) had to live by the same rules? It can't make money as it is, and it's got one of the best logistics systems in retail. Here in Canada, we used to have similar rules in the beer business. Up until 1992, if you wanted to sell beer in Ontario, it had to be made in Ontario. That meant breweries were operating in every province in the country, including Prince Edward Island, which had a population of 130,827 at the time. The Canadian government finally came to its senses and removed those trade barriers. Well, you would think someone who is opposed to government regulations and red tape as Trump is, would see the inefficiencies of a system left up to the individual states.Why should a state like California, whose population is greater than all of Canada, not be able to provide California-grown pot to people living in Rhode Island? If it is a quality product at a reasonable price, you would think "Businessman" Trump would be all over that.I can see how raising the federal minimum wage would rankle some states used to operating lower-wage economies, but failing to legalize pot at the federal level is terrible business. Were the Republicans or Democrats to push for legalizing pot at the federal level -- a process that isn't nearly as easy as it seems -- before the November 2020 election, I believe that this move would motivate a lot of younger voters to get out to cast their ballot. Economically, it would be a boon to all stakeholders. How CGC BenefitsAs you might be aware, Canopy has a tentative deal in place to buy Acreage Holdings for $3.4 billion, but only if the production and sale of cannabis become federally legal. Further, the agreement has a seven-year window before the right to buy the company expires.For this right, Acreage shareholders received an immediate $300 million ($2.55 a share) cash payment as an incentive to wait for federal legalization. In the meantime, Acreage has licenses to produce cannabis in 20 states, 87 dispensaries and 22 cultivation and processing sites. It's a going concern that will continue to grow its business in the U.S. with Canopy lending its expertise, both in terms of growing the stuff, distributing it and building a wider audience. With Bruce Linton having left the company and a CEO search underway, it's a good thing that the Republicans haven't been talking up legalization because the company's controlling shareholder, Constellation Brands (NYSE:STZ), is still ensuring Canopy's ducks are all in a row. The fact that Trump's open to discussing the idea means a CEO hire is probably going to happen sooner rather than later. In the meantime, interim CEO Mark Zekulin is more than capable of running the show. The company's Sept. 4 presentation at the Barclays 2019 Global Consumer Staples Conference stated that Canopy could reach a revenue run rate of C$1 billion in the fourth quarter with its gross margin 40% or higher.Between the second-phase of Canadian legalization (edibles, infused drinks, concentrates), increasing its Canadian distribution at the retail level, international expansion outside North America, and of course, its U.S. push, which includes Acreage, hemp-related sales, etc., the new CEO is going to have their hands full. So, maybe, finding the right person isn't going to happen overnight after all. * 7 "Boring" Stocks With Exciting Prospects What I do know is that CCG benefits greatly from federally legalized cannabis. I'm sure the lobbying is going to intensify in the months leading up to the election. The Bottom Line on CGC Stock I believe that Canopy Growth is one of the best Canadian cannabis stocks available. However, to become a global player, it needs to be a part of the U.S. marketplace. The Acreage deal makes that a reality. Federal legalization is coming, but it can't get here fast enough. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 3 Artificial Intelligence Stocks to Buy * 7 Industrial Stocks to Buy for a Strong U.S. Economy * 3 Beaten-Down Bank Stocks to Buy and Hold for the Long Term The post Why the Future of Canopy Growth Stock Is in the Hands of the President appeared first on InvestorPlace.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (0VZ.F) today announced its management team will attend three institutional investor conferences, a leading cannabis industry conference and a summit aligned with United Nations Assembly Week in September of 2019. On Wednesday, September 4, Acreage management will attend the Barclay’s Global Consumer Staples Conference and will co-host an open Q&A session with executives from Constellation Brands, Inc. and Canopy Growth Corporation. MJBizConINT’L in Toronto, Ontario on September 5, Kevin Murphy will be joined onstage by Mark Zekulin, CEO, Canopy Growth to discuss The Future of Hemp and Cannabis in the Age of Consolidation beginning at 10:15 a.m. (EDT) in Hall F at the Metro Toronto Convention Centre.
NEW YORK, Aug. 13, 2019 -- Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ) reported financial results for the quarter ended June 30th, 2019..
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) announced that it has filed a (final) short form base shelf prospectus (the "Shelf Prospectus") with the securities regulatory authorities in each of the provinces of Canada, other than Quebec, Prince Edward Island and Newfoundland and Labrador, and a corresponding shelf registration statement on Form F-10 (the "Registration Statement") with the United States Securities and Exchange Commission (the "SEC") under the U.S. Securities Act of 1933, as amended. The Shelf Prospectus and Registration Statement allow Acreage to offer up to US$800,000,000 of subordinate voting shares (the “Subordinate Voting Shares”), debt securities, warrants, subscription receipts, units, or any combination thereof, from time to time during the 25-month period that the Shelf Prospectus is effective, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:OZV) today announced the launch of new cannabis consumer products in select markets as part of its “House of Brands” strategy – a portfolio of unique brands that address different consumer segments and form factors. The launch includes products from three new Acreage-developed brands: The Botanist, Natural Wonder, and Live Resin Project. The Botanist, a wellness brand devoted to unlocking the benefits of the full cannabis plant, expects to launch in Iowa this month with its first product, a line of high-CBD tinctures for the Iowa’s medical market.
Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) today announced the hiring of Steve Hardardt as Executive Vice President, Chief People Officer and Administration (CPO). A human resources and operations executive with over 30 years of experience at such companies as Dow Jones, Inc., Frito-Lay, Inc., Monsanto, Inc., tw telecom and others, Mr. Hardardt will be responsible for leading Acreage’s Human Resources team to ensure the integration and implementation of HR strategy and programs with Acreage’s business objectives.