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MedMen is on the forefront of the modern cannabis industry. Yahoo Finance's Seana Smith, Adam Shapiro , and Adam Bierman, Medmen CEO discuss.
Around 1:05 PM EST, the stock posted a daily high near 14.80 Canadian dollars, up 11.7% from the previous day’s closing price. Today’s sharp recovery comes as a relief for Green Thumb investors (MJ) since the stock had lost about 40.9% in the fourth quarter as of yesterday. Constellation Brands (STZ), Scotts Miracle-Gro (SMG), and Molson Coors Brewing (TAP) are down 12.5%, down 16.0%, and up 1.7% quarter-to-date, respectively.
In the U.S., marijuana is still federally illegal. For investors, the key question is how to profit from hemp becoming legal. When I wrote “How to potentially become a marijuana millionaire, albeit carefully,” the most important word in the headline was “carefully.” Being careful also applies to hemp.
The pharmaceutical sector delivers two benefits that appeal to investors: reasonable P/E ratios and growth catalysts. Many pharma stocks have suffered as of late. Some have key drugs facing patent expirations.
The "Farm Bill is the first step to active" involvement in the U.S. by Canopy Growth, CEO Bruce Linton told CNBC Wednesday. The $867 billion bill, which was passed by both the U.S. Senate and House of Representatives, includes a provision for industrial hemp legalization. The legislation has been cited by numerous public cannabis companies as the catalyst to formally enter the American market, according to Cowen analyst Vivien Azer.
New Age Beverages Corp (NASDAQ: NBEV) shares were trading up again Wednesday on the back of the Senate vote on the 2018 Farm Bill. The news lifted other hemp and CBD companies higher, including Youngevity International Inc (NASDAQ: YGYI) and Pyxus International Inc (NYSE: PYX). On Tuesday, the Farm Bill Conference Committee presented the final version of the bill after months of negotiations.
Ryan McQueeney discusses President Trump's latest comments on the trade war and the impending vote of confidence facing U.K. Prime Minister Theresa May. He also recaps earnings results from the retail sector. Later, he highlights three cannabis stocks to watch as the farm bill passes.
Cannabis stocks were mostly lower on Wednesday, as the news that the Senate has approved a new U.S. Farm Bill that legalizes commercial hemp failed to inspire investors.
The nation’s largest pension has mostly divested itself of tobacco and related stocks, but “Calpers” recently bought Tilray stock.
New Age Beverages (NASDAQ:NBEV) gained nearly 8% during Tuesday’s action and added more than 3% more in after-hours trading after catching a cannabis tailwind. There just weren’t enough stocks like New Age Beverages yesterday to keep the market in the black though. Stock charts of Wells Fargo (NYSE:WFC), NRG Energy (NYSE:NRG) and Zoetis (NYSE:ZTS) are among the best of those possibilities heading into hump-day.
Tuesday the gap-up open was aggressively sold and the equity indices completely gave up their gains. The buyers jumped in and that helped to push the S&P 500 over its opening lows. This is the sort of price action we need to restore some Fear of Missing Out (FOMO).
This marijuana stock's performance over the next few years will likely heavily hinge upon sales of the newly launched epilepsy drug Epidiolex.