|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.88 - 9.37|
|52 Week Range||7.37 - 19.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.78|
(Bloomberg) -- The Green Organic Dutchman Holdings Ltd. is looking at alternative means to fund the medical cannabis firm’s construction projects after unsuccessful discussions for commercial bank facilities and equipment leasing.The company is “exploring non-bank debt financing alternatives such as issuing bonds or raising private loans,” Green Organic spokesman Sebastien Bouchard wrote in an email.The Toronto-based medical cannabis firm said it’s reviewing funding options in order to complete building its facilities in Ancaster, Ontario and Valleyfield, Quebec, according to a statement. Green Organic said it “may revise the construction schedule” for the projects if it’s unable to secure sufficient financing on reasonable terms within a required time frame.Green Organic says it has no debt and $56.7 million in cash available in Canada, including $40.2 million in restricted cash marked for capital expenditures. The stock fell as much as 24% on Wednesday to C$1.31, a record low. It has now lost three-quarters of its value since its recent high on March 19.Credit financing for pot companies remains relatively rare as most firms are in the process of reaching positive margins out of their core businesses. Still, Canada-listed Trulieve Cannabis Corp. raised $70 million via the first pot bond with a publicly-available prospectus earlier this year while in May, Green Thumb Industries Inc. issued $105 million of senior secured notes in a self-brokered deal.Instead of debt financing, cannabis companies have been offering equity and convertible securities as preferred channels to finance their investment plans. Nonetheless, the industry’s stocks have under performed recently, making issuance more challenging.(Adds stock price decline in fourth paragraph.)\--With assistance from Paula Sambo and Kristine Owram.To contact the reporter on this story: Esteban Duarte in Toronto at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Allan LopezFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
With the launch of what's known as Fund III, the firm is changing its name to Entourage Effect Capital, in reference to the synergistic effect produced by different cannabinoids in the human body when consumed in combination with each other. The objectives of Fund III will be primarily focused on advancing cannabis businesses as diverse as science and bioscience operators, license aggregators, vertically integrated licensed operators and retailers as well as consumer packaged goods, biotech, ag-tech, media, technology and ancillary services.
CHICAGO and VANCOUVER, British Columbia, Oct. 03, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
With the end of 2019 coming up, the climate is changing for the cannabis industry. Canada is getting ready to enact the second stage of its legalization drive, opening markets for CBD extracts, beverages, and edibles. The Canadian market is estimated to account for 12% of global marijuana sales by the end of this year. The scale of the US market compensates for the patchwork legalization landscape; US legal cannabis will account for 80% of global sales this year, according to Arcview Market Research.Troy Dayton, CEO of Arcview, sees CBD as the driver for cannabis sales through 2024. He says, “CBD products on the shelves of grocery stores and mass merchants is just the first act in the “Cannabinoids Everywhere” phenomenon. Unlike with alcohol, coffee or other plant-sourced consumables, cannabis product marketers have more than taste and strength to work with; they also have the subtle effects of 100-plus cannabinoids other than THC. The popularity of CBD is the first inkling of things to come.”In a report released earlier this summer, retail data analytics firm Nielsen points out that the initial legalization cannabis focused on dried flower products but that the upcoming wave of new derivative products, oils, edibles, and drinks have both higher gross margins and no supply chain bottlenecks. The Nielsen report predicts the US cannabis market reaching $41 billion by 2025.So, with the market primed to expand, it’s clear that there is a lot of money to be made in marijuana stocks. The segment’s recent dip – at least three major players are at one-year lows as of yesterday – offers a savvy investor a chance to buy in at low prices and high upside potential. We’ve used TipRanks’ Stock Screener tool to find three small-cap marijuana companies with well over 100% upside potential. Let's take a closer look:Green Thumb Industries Chicago-based Green Thumb (GTBIF – Get Report) owns the Rise and Essence brands of retail cannabis outlets, with more than 50 retail stores under the Rise name and additional outlets through third-party marketers. Green Thumb’s calendar Q2 earnings release showed $44.7 million in revenues, a 60% sequential gain and a 228% year-over-year gain. Organic consumer product growth and increased store traffic powered the revenue gains. Along with fast-growing revenue, the company also boasts a strong cash position, with $83 million in liabilities more than balanced by $117 million cash on hand. CEO Ben Kolver stated of the company’s forward prospects, “Continued execution of key priorities such as… accelerated store openings, and expanded distribution of our brand portfolio, sets us up well for the future.”With operations in 12 US states, including its retail locations and 13 manufacturing facilities, Green Thumb is well positioned to take advantage of the expansion prospects in the US cannabis markets.Starting coverage of Green Thumb for Cowen in mid-September, 5-star analyst Vivien Azer specifically cites the company’s high growth potential. She writes, “We believe the company's focused operating model that favors geographic depth, and a balanced revenue approach between wholesale and retail, gives GTI the most revenue and margin potential among our MSO coverage. GTI is our favorite name among the MSOs.” Azer’s $18.50 price target suggests an upside to this stock of 122%. Ms. Azer adds that Green Thumb is a “compelling buy,” describing it as, “…currently trading at 4.2x FY20 revenue, which is a 22% discount to their MSO peers.” (To watch Azer's track record, click here)The company’s low share price and high upside are key benefits for new investors looking to get in on that expansion. GTBIF sells for just $8.30 cents per share, and the average price target, $19.75, indicates room for 138% growth. Green Thumb’s Strong Buy analyst consensus rating is based on a unanimous 7 buys assigned to the stock in the last three months. (See Green Thumb's price targets and analyst ratings on TipRanks)Supreme Cannabis CompanyFormerly Supreme Pharmaceuticals, Supreme Cannabis (SPRWF – Get Report) in September reported its fiscal Q4 number, which included sales growth of 436%, to C$19 million, and the company’s first quarterly profit of C$3.2 million. Company statements credit the high-margin strategy of focusing on premium cannabis products, and the success of its 7ACRES brand of recreational marijuana. More importantly, however, the company held production-related overhead costs down to 49% of net revenue. With sales expected to rise, the company’s firm control of costs is boon for investors.Supreme posted a C$41 million profit for fiscal 2019, and projects fiscal 2020 profits to come in between C$150 million and C$180 million. The company is positioning itself in partnership with PAX Labs, a leading provider of vaping products to the Canadian markets, giving it a foot in the door when the ‘Cannabis 2.0’ wave hits Canada later this year.CIBC analyst John Zamparo is impressed by Supreme’s niche in the cannabis industry. Initiating coverage of the stock, he writes, “Supreme Cannabis' focus on existing, premium-seeking consumers may be the most effective and yet somehow neglected strategy in the adult-use cannabis space.” Zamparo further notes that “…top-quality flower retains higher prices and is more defensive against margin compression, supporting Supreme's strategy.”With a marketing strategy based on premium product, and a compelling valuation, Zamparo gives SPRWF a buy rating and a C$2 price target. His target implies an upside of 79%. (To watch Zamparo's track record, click here)Zamparo is not along in seeing high potential in Supreme Cannabis. Canaccord 4-star analyst Matt Bottomley also initiated coverage of the stock after the earnings report, giving it a buy rating based on the solid numbers. His C$2.30 price target suggests a 107% upside for Supreme.Overall, Supreme Cannabis has a Strong Buy from the analyst consensus, based on 3 recent buy ratings. The stock is prided at a bargain, only $0.84 US, and the $2.17 average price target suggests a robust upside of 178%. (See Supreme Cannabis' price targets and analyst ratings on TipRanks)OrganiGram HoldingsOur third small-cap cannabis producer is unique. Unlike most of the Canadian marijuana producers, OrganiGram (OGI – Get Report) is based in New Brunswick, among the country’s Atlantic Maritime Provinces. And, in another departure from the cannabis norm, OrganiGram has operations in all 10 of Canada’s provinces, making it one of the few cannabis companies with a presence coast-to-coast. Most of the Canadian cannabis companies are focusing their operations on the populous regions of Ontario, Alberta, and British Columbia; OrganiGram’s foothold in the Atlantic Maritimes gives it a link to the Canadian region with the country’s highest adult-use rates. The Martimes give OrganiGram a low-competition base region, providing steady sales to support expansion in the rest of the country.OrganiGram also differentiates itself from its peers in its production methods. Most growers measure their production facilities by square footage, expanding the footprint to increase production area. OrganiGram grows vertically; in the words of CEO Greg Engel, “Where the majority of companies went with large green house expansions, our facility is three levels. We actually do vertical cultivation.” Growing vertically allows OrganiGram to get the greatest efficiency out of its 14-acre facility in Moncton, New Brunswick. The company expects to reach a production capacity of 113,000 kilograms per year by December. At that capacity, OrganiGram will enter the top-10 of Canadian cannabis producers.OrganiGram’s strong background and increasing production capacity has brought it high ratings from the Street’s analysts. Writing from Beacon Securities, Russell Stanley says the additions to the grow facility “…demonstrate continued execution against the company’s expansion plan, setting the stage for significant revenue/EBITDA growth in fiscal 2020.” He adds that the company reported C$3 million cash on the books in the last quarter, and looks forward to November’s fiscal Q4 report. Stanley’s C$15 price target suggests a one-year upside of 220% for OGI shares. (To watch Stanley's track record, click here)John Zamparo, quoted above on Supreme Cannabis, is also bullish on OGI. He writes, “The company offers one of the few opportunities to gain exposure to the cannabis space at a reasonable price. We believe Organigram has demonstrated track record of profitability, a rarity in the cannabis sector.” With profitability in mind, Zamparo initiated coverage of OGI at C$9, indicating confidence in a 92% upside.Like the stocks above, OrganiGram also has a Strong Buy from the analyst consensus. This rating is derived from 8 buys and 1 hold given in the past three months. The stock trades for $3.54, and the average price target of $9.40 suggests a hefty upside potential of 183%. (See OrganiGram's price targets and analyst ratings on TipRanks)
CHICAGO and VANCOUVER, British Columbia, Oct. 01, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
Last week, ending on September 27, the cannabis sector was weighed down by the bears. Sector ETFs broadly ended the week in negative territory.
On Monday, Curaleaf (CURA) (CURLF) became the first company to launch medical cannabis flower products in New York. The state offers growth opportunities.
The State Medical Board of Ohio refused to include anxiety disorders and autism in Ohio’s Medical Marijuana Control Program. Will the market suffer?
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced it will open Rise Hermitage, the seventh Rise™ retail location in Pennsylvania, on September 19. Rise Hermitage will host an open house for the community on September 16 from 4 p.m. to 7 p.m. The open house will be held before cannabis products are on site so all are welcome to attend and meet the Rise™ team, including the General Manager and Pennsylvania Market President. “We’re honored to open the seventh Rise™ store in Pennsylvania and to be the first to provide cannabis to people throughout Mercer County,” said GTI Founder and Chief Executive Officer Ben Kovler.
Watch the author’s track record, on TipRanksThe list of cannabis stocks trading near 52-week lows is long and wide including Green Thumb Industries (GTBIF). The difference between most of the stocks in the sector is whether one still trades at unreasonably high levels or a bargain to buy on dips. Green Thumb continues to have a lot to look forward to causing the stock to fall into the later category.It’s All RelativeMost well-known cannabis stocks either made grand partnerships or large-scale acquisitions to gain scale in the last year, but Green Thumb has mostly grown under the radar. For Q2 ended June 30, the U.S. multi-state operator (MSO) grew revenues 60% sequentially to $44.7 million.The company actually has the same revenue base as Tilray (TLRY) that had the hot IPO and irrational stock price of $300. Not to mention, the Canadian cannabis company recently bought Manitoba Harvest to add ~40% of the Q2 revenues in the form of hemp food products.Yet, after all of this, Tilray still has a $2.5 billion market cap in comparison to the current Green Thumb market cap of $1.8 billion. Analysts forecast the company approaching $500 million in 2020 revenues making the stock a much larger bargain than the Canadian counterpart.Even better, Green Thumb had an adjusted EBITDA profit of $5 million in the quarter. The better profit picture sets the U.S. MSOs apart from the Canadian LPs.Real ExpansionThe company has definitely made some acquisitions, but the difference is that Green Thumb has kept the deals small and under the radar of regulators. In the last few months, the company closed deals for Integral Associates in Las Vegas, MC Brands based in Colorado and Fiorello Pharma providing a license in New York.Green Thumb has opened 9 retail stores since April 1 in key states of Florida, Ohio and Pennsylvania. The cannabis company only had 20 stores open at the start of 2019 and expects to nearly double the total in 2019 with a goal of reaching up to 40 retail locations by year end.As with a lot of the U.S. MSOs, Green Thumb has easy and real expansion plans already in progress. The company will triple retail locations by the time it fully opens the stores for the 95 licensed locations.The expansion possibilities go far beyond existing licenses as new states come online and the company has the ability to pick-up small players in the industry that are easy to integrate and fall below major regulatory reviews.TakeawayThe key investor takeaway is that the U.S. MSOs continue to offer some of the best values in the cannabis sector. Green Thumb is a prime example of a relatively unknown MSO with a market value of only $1.8 billion despite quarterly revenues of $45 million and adjusted EBITDA profits.As Congress gets back to work after the summer break, the sector has major catalysts ahead, if the U.S. government can ever approve cannabis at the federal level. The domestic companies would see substantial benefits from access to more capital and listings on major U.S. stock exchanges leading to the stocks rivaling and likely surpassing the market valuations of Canadian peers.Wall Street’s confidence on the cannabis stock speaks for itself; Green Thumb has received a whopping 7 'buy' ratings in the last three months. Meanwhile, the $20.20 consensus price target suggests a potential upside of of over 100% from the current share price. (See Green Thumb's price targets and analyst ratings on TipRanks)Disclosure: No position.
Market research and data analytics firm Prohibition Partners has released its first North American Cannabis Report. In the 134-page paper, the firm analyzes the current state of the cannabis industry in Canada and the United States to draw key insights into the industry’s future in the region. The firm is estimating that by 2024, the continent's cannabis market will be worth $47.3 Billion.
Just three months ago, Seaport analyst Brett Hundley was rolling back price targets on Canadian cannabis stocks, cutting forecasts for both sales and EBITDA left and right -- and Hundley was right to do so. Since the analyst began slashing targets, shares of Aphria (APHA) and Hexo (HEXO) (two subjects of the analyst's ire in June) have fallen 10% and 35%, respectively. More broadly (and over a longer time horizon) the Horizons US Marijuana Index ETF has declined 39% from April to today -- against a broader S&P 500 performance that's been basically flat.And yet, there comes a day that marijuana stock prices get too cheap to ignore, and that day, apparently, was Labor Day 2019.Seaport Announces a Labor Day SaleIn a report just out entitled "Labor Day Sale", Hundley argues that after the sell-off, it's now "time to buy cannabis stocks" again. His reason:"Quality cannabis names" are trading at "2020 price-to-sales multiples near 3.0x-4.0x, alongside EV multiples of 7.5x-10.5x against 2020/21 EBITDA expectations." In the analyst's opinion, these valuations have been depressed for several good reasons, including "disappointing and frustrating regulatory developments, delayed profitability expectations, specific compliance/credibility issues, and founder/management upheaval."And yet, Hundley foresees a "potential for forward regulatory improvements/updates and widening access to capital" that could result in higher valuations going forward. And he further argues that "the [marijuana] space is profitable" already -- albeit only profitable from the perspective of "EBITDA," which considers earnings but not the interest, taxes, depreciation, and amortization that generally come along with (and subtract from) them.Given this continued absence of real profitability, though, are any of these stocks really bargains, even down 39% on average?3 'Quality Cannabis Names' to ConsiderHundley notes that the valuations on his alleged "quality cannabis names" look attractive when compared to "biotech/pharma" stocks trading "6.0x+ 2020 sales expectations and 15.0x-25.0x 2020/21 EBITDA expectations." But which ones exactly? Let's take a closer look.Canopy Growth (CGC) for example, probably the best-known Canadian cannabis stock (and certainly the most expensive at $8.9 billion in market capitalization), currently sells for 19 times the $467 million in sales it's expected to produce in 2020. Aurora Cannabis (ACB), the next-biggest player in the industry at $5.9 billion in market cap, costs more than 11 times the $516 million in sales that analysts project for it in 2020. And Cronos Group (CRON), No. 3 in the industry at $3.9 billion in market cap, costs a staggering 23.6 times forward sales!In fact, to get anywhere close to his promised "3.0x-4.0x" sales valuations, Hundley has to scrape pretty far down into the barrel, coming up with just one example from his own coverage list: Green Thumb Industries (GTBIF), which he says at $1.6 billion in market cap costs 3x fiscal 2020 projected sales. Granted, the analyst says there are other names down in that barrel as well, if you're willing to look for them -- Cresco (CRLBF) for one, and Trulieve (TCNNF) for another.But if these are the kind of "quality cannabis names" Hundley is urging investors to look for, it bears asking: If they're so great, why hasn't he bothered to cover Cresco and Trulieve before?The answer could be as simple as this: Because they aren't.Visit TipRanks’ Trending Stocks page, and find out what companies Wall Street’s top analysts are looking at now.
Will early retirements get the NFL to change its tune on cannabis? On a Saturday evening, about two weeks before the beginning of the 2019 NFL season, 29-year-old Indianapolis Colts quarterback Andrew Luck stood in front of the press as he often did. Instead, Luck stunned the league, shocked his fans, and torpedoed fantasy football rosters across the country by announcing his early retirement from football.
Cannabis consumer packaged goods company Green Thumb Industries Inc. (CSE: GTII) (OTC: GTBIF ) reported second-quarter revenue of .7 million , up 228% year-over-year, and a record quarter-over-quarter ...
Closed previously announced acquisition of Integral Associates to scale distribution of brand portfolio to Nevada and California Retail expansion accelerates with the opening of.
Green Thumb Industries Inc (OTC: GTBIF ) (CSE:GTII) has launched a "Social Equity License Application Assistance Program," which the company has dubbed LEAP. The program will help educate social ...
Green Thumb Industries (GTI) (GTII) (GTII), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced its Illinois Social Equity License Application Assistance Program (LEAP), which will help educate applicants about the adult use cannabis business application process and prepare them to apply for the available categories of licenses. “At GTI, we believe it is part of our corporate responsibility to help reduce barriers to cannabis business ownership for minorities and others most impacted by the war on drugs,” says GTI Senior Vice President of Government and Regulatory Affairs Dina Rollman.
Green Thumb Industries Inc (OTC: GTBIF) (CSE: GTII) has entered New York via the acquisition of Fiorello Pharmaceuticals. The deal includes a license for a cultivation and processing facility, as well as four retail stores, three of which are already open. The manufacturing facility is located in Schenectady County, while the stores are located in Manhattan, Rochester and Halfmoon.
The following five days will be very busy for the cannabis industry as no less than 20 companies are set to report results for the last quarter. Here are the highlights of what we should expect this week ...
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF) today announced it has closed on a transaction to acquire New York-based Fiorello Pharmaceuticals, one of only 10 companies approved to operate a medical marijuana company in the state. Assets include a manufacturing and cultivation facility in Schenectady County and a retail store in each of the following locations: Manhattan, Rochester, Halfmoon and Nassau County, three of which are open.
Chicago-based cannabis company Green Thumb Industries, topped revenue expectations for their second quarter, growing over 220% from last quarter. Yahoo Finance’s Zack Guzman and Heidi Chung discuss with radio show host and podcaster, Ben Kissel, and CEO and Founder of Green Thumb Industries, Ben Kovler.