|Bid||24.70 x 1400|
|Ask||24.77 x 800|
|Day's Range||23.65 - 25.26|
|52 Week Range||13.81 - 52.74|
|Beta (5Y Monthly)||3.80|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The legalization of weed in Illinois has been well received by consumer spending with nearly $20 million on marijuana products being sold in the first 12 days. High Times CEO Stormy Simon joins On The Move to discuss.
Aurora's stockis climbing as Cowen expects the cannabis company to focus on controlling capital spending and restructuring its debt. Yahoo Finance's Emily McCormick joins Seana Smith on The Ticker to discuss.
Hagens Berman urges Canopy Growth Corporation (CGC) investors who have suffered significant losses to submit their losses now to learn if they qualify to recover compensable damages. Only three days remain until the January 21, 2020 lead plaintiff deadline in a securities fraud class action that has been filed against the company and senior executives. The complaint alleges that throughout the Class Period Defendants falsely represented and failed to disclose that: (i) Canopy had exaggerated and/or overestimated the potential market for its products in Canadian retail stores; (ii) as a result, Canopy had failed to properly account for inventory and demand for its products, leading to inventory write-offs and restructuring charges; (iii) all of the foregoing was reasonably likely to have a material negative impact on the Company’s financial results; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Pomerantz LLP announce that a class action lawsuit has been filed against Canopy Growth Corporation ("Canopy" or the "Company") (NYSE: CGC) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 19-cv-11341, is on behalf of a class consisting of investors who purchased or otherwise acquired Canopy securities between September 8, 2017 and November 13, 2019, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
LOS ANGELES, CA / ACCESSWIRE / January 18, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canopy Growth Corporation ("Canopy" or "the Company") (NYSE:CGC) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between June 21, 2019 and November 13, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before January 20, 2020.
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until January 20, 2020 to file lead plaintiff applications in securities class action lawsuits against Canopy Growth Corporation (NYSE: CGC), if they purchased the Company’s securities between September 8, 2017 and November 13, 2019, inclusive (the "Class Period"). These actions are pending in the United States District Courts for the District of New Jersey and Southern District of New York.
SAN FRANCISCO, CA / ACCESSWIRE / January 17, 2020 / Hagens Berman urges Canopy Growth Corporation (NYSE:CGC) investors who have suffered losses in excess of $500,000 to submit their losses now to learn ...
Canopy Growth on Friday said it would delay the launch of its cannabis beverages, saying "the scaling process is not complete."
Cannabis stocks performed terribly in 2019, and Canopy Growth (NYSE:CGC) was no exception. Despite the backing -- to the tune of $4 billion -- of Constellation Brands (NYSE:STZ), and over a full year of legal cannabis sales in Canada, CGC has yet to turn a profit. With investors souring on the cannabis industry in general, Canopy Growth stock lost 23% of its value in 2019. That number is actually misleading because CGC went into 2019 just as it was beginning to recover from a slump. It actually closed the year down a whopping 52% from its high at the end of April. So it is big news that CGC has strung together multiple days of significant growth. After a 4.4% pop on Wednesday, that's 21% in just three days.Source: Shutterstock What is going on with Canopy Growth? And more importantly for investors, can it sustain this rally to the point of a full-blown recovery? Why the Sudden Optimism Around Cannabis Stocks?This week has been an anomaly if you've been following cannabis stocks. For much of 2019, the story was rather grim. However, this week has seen many of them pop. CGC is up 21% since Monday. Hexo (NYSE:HEXO) is up 38%. Aurora Cannabis (NYSE:ACB) is up 25%. Cronos (NASDAQ:CRON) is up 23%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsEven lowly CannTrust (NYSE:CTST) has seen an 11% gain.There seem to be two factors that have lit a fire under these stocks this week. The first is the news that the first edibles under Canada's "Cannabis 2.0" rollout hit stores. The second is the introduction of a bipartisan bill in the U.S. that would bypass Food and Drug Administration restrictions and legalize hemp-derived CBD nationally for use in foods and supplements in the American market. What If Cannabis 2.0 Also Stumbles?Having Congress take action to eliminate the confusion over CBD sales in the U.S. will undoubtedly help cannabis producers. Many of them already sell CBD products in that market (the FDA hasn't been enforcing its ban), but legalization would likely provide at least a modest boost to sales. * 7 Earnings Reports to Watch Next Week The bigger issue for most cannabis stocks is the Cannabis 2.0 rollout in Canada. What happens if it also stumbles the way the initial legal recreational marijuana launch did? After all, that disaster was the reason so many cannabis stocks went through the roof in 2018 (in anticipation) and then tanked as reality hit. Unfortunately Cannabis 2.0 got off to a rocky start, with a lengthy waiting period between legalization of edibles and when companies could actually sell them. Even with edibles and cannabis-infused drinks now available (nearly a month after legalization), there are once again shortages in stores. Ontario -- by far the country's largest market -- remains critically underserved, with a fraction of the expected retail locations open. Canada's second-largest province played spoiler by announcing a ban on the sale of most cannabis edibles. Despite legalization at the federal level, Quebec is concerned that sweetened cannabis products would appeal to minors. Consumers are balking at the price of what edibles are available.Adding to the industry woes, legal recreational marijuana sales across Canada were dropping through the fall.The industry pinned a lot of hopes on Cannabis 2.0 being the point where the legal marijuana market in Canada found its legs. Instead, it's showing all the signs of being a repeat of last year. Bottom Line: Canopy Growth Stock Remains a Risky BetAt under $25, CGC can be a tempting investment. Twice in the past year and a half, the stock has been trading in the $50 range. The company has a new CEO in place, the backing of a multinational beverage conglomerate, and Canada's Cannabis 2.0 market has launched. After being beaten down for virtually eight straight months, CGC just strung together three straight days of gains for an impressive 21% boost. * The 10 Best Value Stocks to Own in 2020 Unfortunately, many of the challenges that caused Canopy Growth and other cannabis stocks to perform so poorly last year remain, especially in the Canadian market. There has been some optimism to start 2020 because of the edibles launch and the promise that Ontario will open more recreational cannabis stores, but that may not be enough. The investment analysts polled by CNN Business rate Canopy Growth stock as a "hold," and their median 12-month price target of just $19.77 represents 20.6% downside. Of the 21 analysts, the most optimistic has a $25.28 price target. Maybe they're all wrong. Maybe 2020 will be the year the legal recreational marijuana market takes off in Canada, powering cannabis stocks to a recovery. But I wouldn't bet on it.As of this writing, Brad Moon did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The Top 5 Dow Jones Stocks to Buy for 2020 * 7 Fintech ETFs to Buy Now for Fabulous Financial Exposure * 3 Tech Stocks to Play Ahead of Earnings The post How Long Can the Rally in Canopy Growth Stock Last? appeared first on InvestorPlace.
The long overdue rebound in marijuana stocks is finally here. The cannabis sector, led by the segment's most important company, Canopy Growth (NYSE:CGC), are breaking out in early 2020. Investors are betting that the demand and legislative troubles of 2019 will fade, and the whole industry will rebound in a big way over the next several quarters.Source: Shutterstock This isn't a small breakout, either, but a material one: Canopy Growth stock is already up 12% in 2020. That's basically 1% growth every trading day and represents the most upward momentum this stock has seen since early 2019. And it's worth noting that the move has also been on big volume, so there appears to be a lot of money out there staking big on a huge CGC turnaround.That's the good news for bulls. Here's the better news -- this big Canopy Growth stock turnaround will only get bigger as we go deeper into 2020.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Cheap Stocks to Buy Under $10 In a nutshell, favorable fundamental developments in the cannabis market will spark a significant growth trend reversal for Canopy over the next few quarters. This growth trend reversal will converge on what is still a very beaten-up and relatively discounted CGC stock. That convergence will spark a huge rally in shares to levels north of $30.Here's a deeper look. Favorable Fundamentals Will Develop in 2020Thanks to weakening fundamentals in the global cannabis market, Canopy's growth trajectory meaningfully slowed in 2019. I think that will change in 2020. Cannabis market fundamentals will strengthen and Canopy's growth trajectory will meaningfully improve.This thesis breaks down into three components: revenue growth re-acceleration, profit margin stabilization and net loss reduction.First, the introduction of new products like vapes and edibles into the Canadian market, coupled with significant legal retail footprint expansion, will re-ignite demand growth throughout Canada's legal cannabis market over the next few months. At the same time, Canopy Growth will aggressively pivot into the U.S. market with its First & Free hemp product line. Canadian legal demand revival coupled with new U.S. revenue streams will improve Canopy's revenue growth trajectory in 2020.Second, as demand trends in Canada improve in 2020, demand will finally start to catch up to a supply glut in the market. This will lead to more favorable market pricing and higher gross margins for Canopy Growth. Simultaneously, Canopy's 2019 production facilities will start to produce at capacity in 2020, which will also provide a year-over-year margin boost. Net net then, Canopy's 2019 margin headwinds could turn into 2020 margin tailwinds.Third, the combination of revenue growth re-acceleration and profit margin stabilization will lead to Canopy reporting narrower losses. That's a big deal for a hyper-growth, unprofitable company that needs to inch towards profitability in order to justify its valuation. Canopy Growth Stock Will SoarBecause of the three aforementioned fundamental improvements, CGC is set to soar in 2020.The logic is pretty simple. Investors once believed that Canopy would emerge as the top dog in an ultra valuable global cannabis industry. But slowing growth and profitability concerns clouded that bull thesis, and ultimately knocked shares down to $20. Those slowing growth and profitability concerns will ease significantly in 2020. As they do, investors will start to once again buy into the idea that Canopy is going to emerge at the top dog in a huge global cannabis industry.The last time investors believed that, Canopy Growth stock was up at $50. Shares could make a run for that level again as investors once again adopt this bullish mentality amid re-accelerating growth, stabilizing margins and narrowing losses.The numbers are pretty simple, too. Under the paradigm that Canopy will leverage its unparalleled size, resources, partnerships, and distribution to turn into the Altria (NYSE:MO) or Anheuser-Busch (NYSE:BUD) of a several hundred billion dollar global cannabis industry at scale, I think that Canopy reasonably projects to earn $5 in profits per share by fiscal 2030.Based on a forward earnings multiple of 16 and a 10% annual discount rate, that implies a a 2020 price target for Canopy Growth stock of about $33 to $34. Bottom Line on CGC StockCGC had an awful 2019 amid deteriorating cannabis market fundamentals. Shares will bounce back in 2020 amid improving cannabis market fundamentals. This rebound has already started in the first two weeks of 2020, and will continue for the balance of the year. Ultimately, Canopy Growth stock will head way higher over the next several months.As of this writing, Luke Lango was long CGC. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Stocks to Buy Under $10 * 5 Retail Stocks Placer.ai Thinks Can Win Big in 2020 * 6 Cheap Stocks to Buy Under $7 The post The Big Rebound in Canopy Growth Stock Will Only Get Bigger appeared first on InvestorPlace.
You hear that? That's the sound of the beginning of a big rebound in marijuana stocks. Year-to-date, the ETFMG Alternative Harvest ETF (NYSEARCA:MJ) is already up almost 10% -- and we are less than three weeks into the year. That's a huge gain in a short amount of time.The big rebound in pot stocks can be attributed to favorable fundamental developments (multiple cannabis companies have reported strong fourth quarter numbers in early January), favorable legal developments (among other things, Illinois just legalized recreational marijuana), and a whole bunch of investors deciding that with the new year, comes new opportunity.That's the good news for cannabis bulls. The better news? This big rebound in marijuana stocks is just getting started.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOver the next several quarters, everything is going to improve for the cannabis sector. Demand trends will re-accelerate thanks to new vapes and edibles products, as well as retail footprint expansion. Supply overhang issues will ease with rebounding demand. International markets will start to take off as governments around the world follow in Canada's footsteps. Revenue growth trends will improve. Margins will bounce back. Losses will narrow.All in all, things will just get better for the cannabis sector in 2020, and as they do, depressed and beaten-up pot stocks will rebound. * The Top 5 Dow Jones Stocks to Buy for 2020 With that in mind, let's take a deeper look at four marijuana stocks to buy for the big 2020 rebound. Canopy Growth (CGC)Source: Shutterstock The cannabis market's biggest and most important company, Canopy Growth (NYSE:CGC), has been leading the pot stock rebound in 2020 so far. Year-to-date, CGC stock is up more than 15%.Canopy will continue to be a leader in this rebound for the rest of 2020 for one very simple reason: this is the best cannabis company out there by a mile.They have the biggest balance sheet -- thanks to a multi-billion dollar investment from Constellation Brands (NYSE:STZ) -- with the most resources and firepower to invest in things like product development, international expansion, strategic acquisitions, and production build-out. They also have the biggest sales base, the most production capacity, and the widest global distribution network.The management team is arguably the best in the business, as Constellation has infused the company with experienced talent. They also have the most visible pathway to dominating the ultra-valuable U.S. market, thanks to a planned acquisition of U.S. cannabis company Acreage.All in all, Canopy Growth has significantly differentiated itself from the pack in the cannabis world. As the leader, if pot stocks keep rebounding throughout the rest of the year, CGC stock will lead that rebound. Cronos (CRON)Source: Shutterstock The only other "high quality" cannabis company that has won the multi-billion dollar support of a consumer staples giant is Cronos (NASDAQ:CRON). This unique feature should propel meaningful out-performance in CRON stock in 2020.Cannabis market trends will rebound in 2020 thanks to new products, retail footprint expansion, favorable legislative progress, and international growth, among other things. As those trends rebound, investors will rush back into the marijuana industry like its early 2019 all over again.When investors flocked into the space back then, they did most of that flocking into two names -- Canopy and Cronos -- because those were the smartest and safest investments given their fortified balance sheets, huge investment capability, and tremendous financial support. Of note, Cronos stock outperformed Canopy stock in the first three months of 2019 by a tally of 80% to 60%, mostly thanks to the fact that CRON stock was cheaper than CGC stock (15-times one-year forward sales for CRON, versus 30-times for CGC at the beginning of 2019). * 10 Cheap Stocks to Buy Under $10 In 2020, the same dynamic will repeat. Investors will rush back into the space amid improving fundamentals and trends. They will specifically rush back into the smartest and safest investments in the space, CRON and CGC. And CRON will be the bigger winner, because CRON stock (9-times one-year forward sales) remains way cheaper than CGC stock (14-times one-year forward sales). Aphria (APHA)Although most pot stocks are up big in early 2020, shares of cannabis producer Aphria (NYSE:APHA) are not, mostly because the company reported second quarter numbers in January that missed across the board. Revenues missed estimates, as did profits. And management dramatically cut its full-year guide.Consequently, APHA stock is actually down 1% in 2020, while many of its marijuana peers are up 10% or more.This weakness won't last. It's a gross overreaction to a few headline second quarter misses. Underneath those misses, the numbers were actually pretty good. Revenue growth accelerated sequentially, from up 8% quarter-over-quarter in Q1 to up 9% quarter-over-quarter in Q2. Volume growth also accelerated, and by way more, going from 7% growth in Q2, to 18% growth in Q2. Gross margins reversed course, after dropping from 53% in Q4 to 50% in Q1, and shot back up to 57% in Q2. At the same, Aphria reported a huge sequential increase in adjusted EBITDA after a sequential drop in Q1.In other words, all of the company's important underlying trends improved meaningfully in the second quarter. Revenue, volume, margin, and profit trends all got better.And that's before the launch of new vapes and edibles products. As such, the numbers will only get better in the third and fourth quarters. As they keep improving, investors will push APHA stock way higher, especially considering its relatively depressed valuation base (2-times one-year forward sales). Aurora (ACB)Source: Shutterstock Last, but not least, on this list of marijuana stocks to buy for the big rebound in 2020 is Aurora (NYSE:ACB).Aurora has long been the second-biggest player in the Canadian cannabis market, coming in right behind Canopy in terms of sales, volume, and production capacity. But investors have increasingly expressed concerns over the company's balance sheet and liquidity, as Aurora features one of the worst balance sheets in the cannabis sector and has a major cash burn problem.Ultimately, these concerns have kept ACB stock depressed. These concerns could ease dramatically in 2020. Aurora will launch of suite of edibles and vapes products over the coming months. They should also be opening a ton of new stores.This combination will reignite demand trends at Aurora, and revenue growth rates should start improving. As they do, more favorable supply-demand dynamics will push up margins. Bigger revenues plus bigger margins equals smaller losses. Smaller losses mean less cash burn.As cash burn becomes less of a problem in 2020 (and as the company's improved revenue growth trajectory illuminates a more visible pathway towards profitability), investors will become less concerned about the company's balance sheet and liquidity. The more those concerns fade, the more ACB stock will rally.As of this writing, Luke Lango was long CGC. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The Top 5 Dow Jones Stocks to Buy for 2020 * 7 Fintech ETFs to Buy Now for Fabulous Financial Exposure * 3 Tech Stocks to Play Ahead of Earnings The post 4 Marijuana Stocks to Buy for the Big 2020 Rebound appeared first on InvestorPlace.
Following a disastrous performance in 2019, marijuana stocks are staging a huge comeback in early 2020. So far this year, the ETFMG Alternative Harvest ETF (NYSEARCA:MJ) is already up about 10%, representing an impressive average gain per trading day of nearly 1%.Leading the charge are the usual suspects. So far this month, Canopy Growth (NYSE:CGC) is up 15%. Tilray (NASDAQ:TLRY) has gained 19%. and Cronos (NASDAQ:CRON) has added 6%.But one marijuana stock missing out on this party is Aphria (NYSE:APHA). Best known as the only cannabis company to report a quarterly profit so far, APHA has not rebounded with its peers in 2020. Instead, Aphria stock is flat in 2020.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis relative underperformance of APHA stock won't last.Aphria's trends are too favorable, its fundamentals too good, and its valuation too discounted to keep Aphria stock depressed for much longer. As marijuana stocks continue to rebound throughout 2020 amid favorable cannabis trends, Aphria stock will turn into the one of the segment's hottest stocks. Indeed, my estimates indicate that Aphria stock could more than double this year.Here's how that could happen. Marijuana Stocks Will Keep ReboundingCentral to the bull thesis on APHA stock is the idea that the entire cannabis sector will rebound dramatically in 2020.Three positive catalysts will drive that rebound. First, the currently depressed demand trends of Canada's legal cannabis market will improve significantly in 2020. The factors that will bring about its improvement are the introduction of new edibles and vape products, more aggressive launches of new stores, and logistical improvements by legal suppliers and distributors. The demand rebound will turn falling revenue growth rates across the whole industry into rising revenue growth rates. * The Top 5 Dow Jones Stocks to Buy for 2020 Second, the supply glut of Canada's legal market will ease due to accelerating demand trends. Economics 101 teaches that falling supply and rising demand lead to higher prices. Higher prices create higher margins. Consequently, the cannabis industry's margin weakness of 2019 could turn into margin strength in 2020.Third, various cannabis markets outside of Canada will gain traction and turn into meaningful revenue contributors for legal suppliers. That is, governments around the world will adopt more lenient marijuana laws, thanks to increasing pressure by consumers for such laws. As that happens, more countries will legalize cannabis in 2020. At the same time, more and more states across the U.S. will legalize marijuana, and more and more Canadian cannabis companies will jump into the U.S. market.The marijuana industry seems optimally positioned for a huge rebound in 2020, meaning that the recent strength of the sector's stocks will most likely persist. Aphria Stock Will Join The RallyAphria stock is currently sitting out the big rally by cannabis stocks. That won't last forever. Soon enough, Aphria will join the rally, and when it does, Aphria stock could explode higher.Investors have been relatively bearish on Aphria recently because the company's second-quarter earnings report, delivered in early January, missed analysts' average expectations, and the company, in conjunction with the results, cut its full-year revenue and profit guidance. But the miss doesn't tell the whole story.Aphria's trends are actually pretty good. Its quarter-over-quarter cannabis revenue growth and its QoQ cannabis volume growth accelerated compared with Q1's rates. Those two data points imply that demand for Aphria's cannabis is rising. At the same time, its cannabis gross margins improved tremendously, rising from 50% in Q1 to 57% in Q2. The data supports the idea that improving supply-demand dynamics are meaningfully lifting Aphria's margins.Aphria has all the momentum it needs to join the marijuana stock rally, as demand for its products is accelerating and its margins are expanding.Eventually, these improving growth trends, combined with the massively discounted valuation of APHA stock, will produce an epic rally by the shares.Analysts, on average, expect Aphria's fiscal 2022 earnings per share to be 40 cents. That estimate will prove to be conservative. My modeling indicates that improving demand and margin drivers will push the company's FY22 EPS to 50 cents or higher. Based on a forward earnings multiple of 20, which is average for growth stocks, my 2021 price target for Aphria stock is $10.The shares closed at $5.19 yesterday. The Bottom Line on APHA StockAphria stock has sat out the 2020 marijuana stock rally so far, but it won't remain on the sidelines forever. Instead, as soon as worries about the Q2 earnings report fade, the shares will start to climb higher. Given how cheap this stock is and how good APHA's fundamentals are, the rally will be huge and could reach 100%.As of this writing, Luke Lango was long CGC. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The Top 5 Dow Jones Stocks to Buy for 2020 * 7 Fintech ETFs to Buy Now for Fabulous Financial Exposure * 3 Tech Stocks to Play Ahead of Earnings The post Here's How Aphria Stock Could Double in 2020 appeared first on InvestorPlace.
Cronos (NASDAQ:CRON), the cannabis company best known for its multi-billion investment from Marlboro maker Altria (NYSE:MO) already is having a good year. Year-to-date, CRON stock is up more than 10%.Source: Shutterstock But Cronos is not alone. Pot stocks are bouncing back in 2020, with the ETFMG Alternative Harvest ETF (NYSEARCA:MJ) up more than 10% already through the first two weeks of the year amid favorable fundamental developments (a handful of marijuana companies reported strong numbers in early 2020) and legal developments (among other things, Illinois just legalized recreational marijuana).Here's my two cents: early 2020 strength in CRON stock will extend into a year-long rally for the resurgent pot stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMy rationale is simple. The whole cannabis sector will bounce back in 2020. As it does, Cronos will bounce back even more, because it represents one of the two highest quality investments in the space, and quality will become of increasing importance in this space as a clear divergence emerges between cannabis winners and cannabis losers.Net net, Cronos looks good in 2020. I think shares will head materially higher. Here's a deeper look at why. The Pot Stock Rebound Is for RealThe big rebound in pot stocks is more than a head-fake or dead-cat bounce. It's the real deal, and the start of something much bigger. * The Top 5 Dow Jones Stocks to Buy for 2020 The legal cannabis market will inevitably be huge. Drug usage data among U.S. high school students shows a clear trend: young consumers are increasingly smoking weed, and today, they smoke weed almost as much as they drink alcohol.The demand is there. The supply will get there, too, because consumer and government attitudes are rapidly shifting in favor of legalizing cannabis. Big demand plus big supply equals big market.How big? Well, if you consider that the global alcoholic beverage market is in the $1 trillion-plus range and that cannabis consumption among certain demographics is nearly equal to that of alcohol consumption, it's pretty easy to see the fully-legal global cannabis market measuring in the several hundred billion dollar range one day.Outside of Canopy Growth (NYSE:CGC), all publicly traded cannabis companies feature sub-$3 billion market caps.Clearly, these companies aren't priced appropriately. They aren't priced appropriately because investors got overly bearish in 2019 amid early challenges in Canada, the U.S. and elsewhere, and thought that these challenges would last forever.They won't. In 2020, they will fade. Demand trends will improve. Logistics will improve. Retail distribution will expand. Legislation will move forward. Everything will get better because everything is always better in Year 2 than in Year 1.Pot stocks will bounce back. And they will hold onto these gains, because the cannabis market will only get bigger and better over the next few years as it marches towards its several hundred billion dollar potential. Cronos Is a High-Quality PickIn the cannabis space, Cronos stock is a high-quality pick, and that's important because quality will be a key differentiation going forward.There are a lot of cannabis companies out there. Not all of them will survive. When you look at the alcoholic beverage and tobacco industries, the two best comps for the cannabis industry, those markets are essentially oligopolies, dominated by only a handful of conglomerates.The cannabis market will pan out no differently. It will go from hundreds of equally-sized players today, to a handful of super-sized players in a decade. This market consolidation means that while the cannabis market will grow by leaps and bounds over the next several years, this rising tide won't lift all boats; high-quality boats will rise a bunch, and low-quality boats will fall by the wayside.Cronos is unequivocally one of the high-quality boats in this space for one big reason: the multi-billion dollar investment Altria poured into the company.That huge investment is a vote of confidence from a seasoned and smart management team over at Altria. It's also enough money to shore up the balance sheet for the foreseeable future, absorb cash burn, and ease pressure on the company to cut corners to turn a profit.Most importantly, it gives Cronos ample resources to invest in the cannabis space over the next several years. Only Canopy can rival Cronos in terms of this investment firepower.Ultimately, then, CRON is one of the top two highest quality picks in the cannabis space. Thus, as pot stocks begin their multi-year rebound in 2020, Cronos will be at the epicenter of this rebound. Bottom Line on CRON StockIn a nutshell, what you have with Cronos is a sub-$3 billion company with a very reasonable opportunity to be one of the largest players in a potential several hundred billion global cannabis industry one day. That's a compelling long-term value prop.The market turned a blind eye towards this long-term value prop in 2019 amid near-term cannabis market challenges. In 2020, those challenges will fade from the scene. As they do, investors will increasingly adopt the long-term bull thesis as a consensus thesis. The more this happens, the more CRON stock will rebound.As of this writing, Luke Lango was long CGC. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The Top 5 Dow Jones Stocks to Buy for 2020 * 7 Fintech ETFs to Buy Now for Fabulous Financial Exposure * 3 Tech Stocks to Play Ahead of Earnings The post CRON Stock Could Ride the Cannabis Resurgence into a Year-Long Rally appeared first on InvestorPlace.
SMITHS FALLS, ON , Jan. 17, 2020 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO), (CGC) submitted its final documentation for its beverage facility to Health Canada in late June 2019 and subsequently received the licence in late November 2019 . In the seven weeks since receiving the licence, the Company has made meaningful progress towards scaling the production process for its cannabis beverages from lab scale to commercial scale. "Canopy has had seven weeks to work with THC in the brand new beverage facility to scale processes and IP it has developed in the R&D environment," said David Klein , CEO, Canopy Growth.
NEW YORK, NY / ACCESSWIRE / January 16, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate ...
SAN FRANCISCO, CA / ACCESSWIRE / January 16, 2020 / Hagens Berman urges Canopy Growth Corporation (NYSE:CGC) investors who have suffered losses in excess of $500,000 to submit their losses now to learn ...
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Canopy Growth Corporation from September 8, 2017 through November 13, 2019, inclusive (the "Class Period"), of the important January 21, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Canopy investors under the federal securities laws.
NEW YORK, NY / ACCESSWIRE / January 16, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a ...
LOS ANGELES, CA / ACCESSWIRE / January 16, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canopy Growth Corporation ("Canopy" or "the Company") (NYSE:CGC) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between June 21, 2019 and November 13, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before January 20, 2020.
Pomerantz LLP announce that a class action lawsuit has been filed against Canopy Growth Corporation (“Canopy” or the “Company”) (NYSE: CGC) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 19-cv-11341, is on behalf of a class consisting of investors who purchased or otherwise acquired Canopy securities between September 8, 2017 and November 13, 2019, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion. Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to email@example.com.
NEW YORK, NY / ACCESSWIRE / January 16, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Investors Affected : all persons and entities who purchased RealReal common stock pursuant and/or traceable to the Company's registration statement issued in connection with the Company's June 27, 2019 initial public offering.
NEW ORLEANS, Jan. 15, 2020 -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors of pending.