|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.6900 - 0.7590|
|52 Week Range||0.6370 - 1.7890|
|Beta (3Y Monthly)||3.20|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Organto Foods (TSX-V: OGO) (OTC: OGOFF) has signed an agreement to sell its Colombian subsidiary Medicannabis S.A.S. to Xebra Brands for a combination of shares, cash and forgiveness of debt. Medicannabis is focused on the development of medicinal cannabis. Canntab Therapeutics (CSE: PILL.CN) (OTCQX: CTABF) (FRA: TBF1.F), an innovator in cannabinoid and terpene blends in hard pill form for […]The post Cannabis Stock News Daily Roundup October 15 appeared first on Market Exclusive.
Some The Supreme Cannabis Company, Inc. (TSE:FIRE) shareholders may be a little concerned to see that the Founder...
Supreme Cannabis' premium wellness brand, Blissco, receives oil sales license from Health Canada. Blissco expects to ship first CBD oil product to the Canadian market in Q2 fiscal 2020. Blissco product sales expected to meaningfully contribute to Supreme Cannabis' fiscal 2020 revenue.
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)
As the market still fails to separate the Canadian cannabis companies from the overhyped one’s trading on major U.S. stock exchanges, Supreme Cannabis (SPRWF – Get Report) offers a compelling investment. The stock trades near the lows around $1 offering an ideal entry point in a developing cannabis brand under the radar of most investors.Growth RampThe company reported FQ4 results for the period ending June grew 90% sequentially. Supreme Cannabis saw revenues surge to C$19.0 million, up from C$10.0 million, as the business shifted from the wholesale market to recreational sales via the 7ACRES brand. The company is shifting from the low margin wholesale market to much more attractive recreational sales.The best part of the story is the growth was generated on the backs of solid fundamentals. The company generated an adjusted EBITDA of C$3.2 million in the quarter.The company has listed quarterly operating expenses of C$11.6 million and adjusted operating expenses below C$10.0 million. Supreme Cannabis was able to grow revenues substantially without a major increase in operating expenses allowing the adjusted EBITDA to grow by an incredible ~C$4.8 million from the prior quarter. In the process, the company captured EBITDA margins of nearly 50% of all additional revenues.Going forward, Supreme Cannabis purchased both Truverra and Blissco Cannabis to enter the global CBD market. The Truverra merger cost ~C$20 million and expanded their business into the European hemp-based CBD market in select countries selling balms, softgels and organic oils.For these reasons, the company is forecasting FY20 revenues between C$150 to C$180 million. Even better, Supreme Cannabis expects to remain adjusted EBITDA positive during this growth ramp phase.The market will eventually separate out the cannabis stocks that can grow profitably from those that wildly spend shareholder cash. In addition, the company is already three months into FY20 so the market will soon start looking toward FY21 forecasts where revenues will easily top C$200 million.Value Play The stock has a listed market value of only $315 million or C$425 million. Very few Canadian cannabis stocks trade for valuations in the 2x-3x forward sales levels.The company maintains a catalyst for the stock via a listing on major U.S. stock exchanges. In addition, the small size of Supreme Cannabis would make the stock a logical tuck in acquisition for a medium sized cannabis player looking for more scale.Regardless, the stock is a value play whether these catalysts eventually play out or not. Investors should not buy a stock relying on such outcomes.Supreme Cannabis has a small, but vocal camp of bullish analysts with positive expectations for its stock. Out of the 3 analysts polled by TipRanks, all 3 rate the stock a Buy. With a return potential of 125%, the stock’s 12-month consensus target price stands at $2.16. (See Supreme Cannabis' price targets and analyst ratings on TipRanks)TakeawayThe key investor takeaway is that Supreme Cannabis offers a supreme opportunity for a Canadian cannabis player over looked by the stock market. As this company grows and scales, the market will become better acquainted with the stock and the valuation will rise.With analyst revenues estimates above C$200 million for FY21, the market will increasingly find it difficult to look past the valuation on Supreme Cannabis trading for a market value of only C$470 million with likely substantial upside to revenue estimates from the CBD business. Don’t let this supreme opportunity pass.Visit TipRanks’ Trending Stocks page, and find out what companies Wall Street’s top analysts are looking at now.Disclosure: No position.
Anyone researching The Supreme Cannabis Company, Inc. (TSE:FIRE) might want to consider the historical volatility of...
Eaze, a California-based delivery software company, filed a countersuit against DionyMed Brands Inc (OTC: DYMEF) on Tuesday. DionyMed's COO has resigned and the company is restructuring its debt. Cannacord Genuity maintained a Speculative Buy rating on DionyMed, as Green Market Report CEO Debra Borchardt told Benzinga.
The Supreme Cannabis Company, Inc . (TSX: FIRE) (OTC: SPRWF ) reported fourth-quarter and full-year results Tuesday that included quarterly net revenue of $19 million, a 90% increase from the previous ...
TORONTO, Sept. 17, 2019 /PRNewswire/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (FIRE.TO) (SPRWF) (53S1.F), announced today the release of its financial and operating results for the fourth quarter and fiscal year ended June 30, 2019. "We end fiscal 2019 as one of the few Canadian cannabis businesses building sustainable operations and valuable brands, reporting $3.2 million in Adjusted EBITDA1 for the fourth quarter," said Navdeep Dhaliwal, CEO of Supreme Cannabis.
Cannabis investors will have their hands full this week, as a number of corporate and political updates are scheduled. Benzinga has compiled a list of main updates and events to be looking forward to for ...
Seattle, Washington--(Newsfile Corp. - September 11, 2019) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing The Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF).In recent years, consumers growing tired of bland beer with low-quality ingredients undergirded a craft beer movement that is still gaining steam. In fact, while overall beer volume sales dipped in 2018, craft ...
Jack Haze is 7ACRES' first sativa-dominant strain with rare sensory characteristics. 7ACRES continues to achieve premium pricing with the launch of Jack Haze. As 7ACRES' first sativa dominant strain, Jack Haze delivers high THC content with a terpinolene forward profile.
Seattle, Washington--(Newsfile Corp. - September 5, 2019) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) and how the company is penetrating the European cannabis market with the launch of Supreme Heights.As the nascent European legal cannabis market emerges, Canadian companies that have cut their teeth in their ...
The Supreme Cannabis Company (SPRWF) has been fighting to gain sustainable traction for some time, and it appears it has put the pieces in place to make a run at the top of mid-tier cannabis companies.It had a decent last quarter, but what really separated from its peers was its robust guidance, along with the announcement it should reach positive EBITDA in the not-too-distant future.In this article we'll look at some of its numbers, guidance, and how it could more than double its share price.Some of the pieces that should drive growthEven though Supreme Cannabis made a few moves in the past to generate interest in the company, nothing was really impressing investors much.For example, last quarter it announced its partnership with Wiz Khalifa and Khalifa Kush Enterprises Canada to offer branded, premium products in Canada and in the limited international presence it had. Then and now, I look at that as more of an add-on business until proven otherwise.At the international level, it has a presence in the tiny nation of Lesotho, located within the borders of South Africa. It has a population of about 2 million. The company is working on producing cannabis oil products for the medical market that it can deliver to other nations via its Medigrow brand.It also has Supreme Heights2, an investment platform which focuses on brands in the early stage of development that target the EU and UK CBD markets.These are interesting, but they don't do much to push the needle in the near term.One of the more exciting segments of Supreme's business is its 7ACRES brand, which has been transitioning from a wholesale business to a consumer brand. That is expected to be completed by the third fiscal quarter of 2020.Up until May 2019, the facility had 180,000 square feet that was operational. It received approval from Health Canada to add another 50,000 square feet to the facility, bringing the total to 230,000 square feet. That is expected to generate approximately 33,580 kilograms of dried cannabis annually. The company plans on increasing the facility to more than 440,000 square feet, which would bring the annual production rate to 50,000 kilograms of dried cannabis. Some of the square footage will be allocated to office and grow space.Two recent acquisitions are going to help separate Supreme Cannabis from the rest of the mid-tier cannabis companies. It recently closed its acquisition of Truverra and Blissco.Truverra is an extraction and purification business that also has a CBD hemp business in Europe. Blissco, which is focused on the international CBD markets, should be able to produce tincture bottles at an annual run-rate of 7,000,000 by December 2019.The combination of its old and new businesses should be a strong catalyst for growth over the next couple of years.GuidanceSupreme recently announced some of its expected revenue, earnings and guidance for its upcoming September 17, 2019, earnings report.For the fourth quarter the company is looking for revenue of about $19 million, an increase of 90 percent sequentially. That's roughly 45 percent higher than current consensus estimates of $13 million. For fiscal 2019, it should come close to $40 million in revenue.Also important, it's guiding for positive EBITDA for the reporting period, the first time it will have achieved that, and also for all of 2020.Fully guidance for 2020 is for revenue to jump to a range of $150 and $180 million, significantly above the consensus of $130 million.With 7ACRES scaling and the addition of Truverra and Blissco, it has some strong tailwinds that will boost its pace of growth.ConclusionI haven't thought much of Supreme Cannabis in the past, primarily because of its lack of meaningful catalysts that would allow it to be competitive in the cannabis market.Now with 7ACRES scaling and its newest acquisitions poised to boost revenue and shrink margins, the company is ready to be a legitimate player among the mid-tier competitors, and if it continues to improve, could possibly push its way into the lower tier of the major players in the industry.Either way, Supreme Cannabis has an excellent chance to grow its share price, and shareholders should be rewarded nicely over the next year or so, as the company stands today.Visit TipRanks’ Trending Stocks page, and find out what companies Wall Street’s top analysts are looking at now. Disclosure: No position.
Seattle, Washington--(Newsfile Corp. - August 16, 2019) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing The Supreme Cannabis Company (OTCQX: SPRWF) (TSX: FIRE).While still in its infancy, the cannabis industry has reached an inflection point where some clear separation is happening between companies. To use some old axioms, "The cream is rising to the top" and ...
TORONTO , Aug. 13, 2019 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (FIRE.TO) (SPRWF) (53S1.F) is pleased to announce the closing of its acquisition of all of the issued and outstanding shares of privately-held Truverra Inc. ("Truverra") (the "Transaction"). The Transaction was completed by way of a three-cornered amalgamation pursuant to which 2708300 Ontario Ltd., a wholly-owned subsidiary of Supreme Cannabis, amalgamated with Truverra to form a newly amalgamated company ("Amalco") which shall operate under the name "Truverra Inc." as a wholly-owned subsidiary of the Company.
The Company will not pursue potential share consolidation approved at 2018 annual general meeting. TORONTO , Aug. 13, 2019 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (FIRE.TO) (SPRWF) (53S1.F) today announced its expected revenue for the fiscal fourth quarter ended June 30, 2019 and provided guidance for fiscal 2020. Supreme Cannabis' expects to release the Company's audited fourth quarter and annual results on September 17, 2019 .
Seattle, Washington--(Newsfile Corp. - August 1, 2019) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing The Supreme Cannabis Co.'s (TSX: FIRE) (OTCQX: SPRWF) (FSE: 53S1) recent merger with Blissco.The cannabis industry is quickly moving through a well-known cycle for emerging markets. Like Google in the tech industry, early market entrants that have become successful in a ...
Seattle, Washington--(Newsfile Corp. - July 22, 2019) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF).The old Aesop axiom advises to be vigilant, for you can be known by the company you keep. If that's the case, then Supreme Cannabis must feel pretty good, as it has surrounded itself ...