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DSW, Michaels Companies, Nvidia, Netflix, Apple, Budweiser and Keurig Dr. Pepper are the companies to watch.
Cannabis-focused agriculture firm Terra Tech Corp. (OTCQX: TRTC) is planning to begin selling cannabis to recreational users in San Leandro, Calif. The City Council on March 18 voted to approve an ordinance for adult-use cannabis sales in the city. The ordinance is subject to a second reading which is scheduled to occur on April 1 […]The post Cannabis Stock News Daily Roundup March 20 appeared first on Market Exclusive.
Cannabis stocks fall, as investors scrutinize earnings from Green Organic Dutchman Holdings Ltd. and await a U.S. congressional committee vote next week on protecting banks that serve the sector.
What to Expect from Cronos Group’s Q4 Earnings(Continued from Prior Part)ProfitabilityPreviously in this series, we saw that Cronos Group (CRON) is expected to report sales growth of almost 459% year-over-year in the fourth quarter. Let’s
Canada's main stock index broadly fell on Wednesday, taking cue from stocks worldwide, as investors awaited the U.S. Federal Reserve's policy statement that could show how comfrotable the central bank ...
Vaping products supplier Greenlane Holdings Inc filed for an initial public offering with U.S. regulators on Wednesday, in the backdrop of both growing investor interest and rising regulatory scrutiny into the e-cigarette industry. Greenlane sells vaping products and accessories to over 6,600 independent smoke shops, regional retail stores and a number of licensed cannabis cultivators, processors and dispensaries. Greenlane's move to tap equity markets comes as traditional tobacco companies make major investments into e-cigarettes.
What to Expect from Cronos Group’s Q4 EarningsFourth-quarter earnings Cronos Group (CRON) is scheduled to report its fourth-quarter and fiscal 2018 earnings on March 26 before the market opens. The company will hold an earnings call on the same
The Green Organic Dutchman Holdings Ltd. said it had a net loss of C$45.2 million ($33.9 million), or 21 cents a share, for 2018, wider than the C$13.5 million loss, or 12 cents a share, posted in the year-earlier period. Revenue came to C$1.9 million, as the company booked its first quarterly revenue following the acquisition of HemPoland on Oct. 1 and the full legalization of cannabis in Canada on Oct. 17. The company did not provide a net loss for the quarter, but said its loss from operations came to C$18.1 million due to the costs of ramping up operations, consumer research and administration related to gearing up for commercial production in 2019. The company ended the year with C$263.5 million of cash, which will be used to fund expansion and international growth. Jefferies analyst Owen Bennett said costs came in "significantly below estimates. You could take a positive or negative view of this (encouraging re route to profitability or not spending much around brand awareness)," he wrote in a note to clients. "First real financial catalyst will be next quarter with further re-rating potential if they execute." Bennett rates the stock a buy with a price target of C$6.10, compared with its current trading level of C$5.48. U.S.-listed shares were down 0.5% in premarket trade, but have gained 128% in 2019 so far, while the S&P 500 has gained 4%.
Marijuana Co. of America Inc. announced Wednesday its intent to buy a 20% stake in Natural Plant Extract of California (NPE), and its plan to establish a joint venture operating a cannabis delivery service named Viva Buds. Under terms of a letter of intent, Marijuana Co. (MCOA) will contribute $2 million in cash and $1 million worth of its common stock. MCOA and NPE will share in the profits of Viva Buds. "This partnership will enable MCOA to establish itself as a major player in the cannabis arena," said MCOA Chief Executive Donald Steinberg. "All licenses are in place to allow for vertical integration from farm to consumer." MCOA's stock has tumbled 43.4% year to date, while the ETFMG Alternative Harvest ETF has soared 55.3% and the S&P 500 has gained 13.0%.
Tilray Inc. finally showed investors that it is capable of selling recreational pot in Canada, but emphasized its pivot to markets in the U.S. and Europe that it will need to justify its swollen market value.
Cannabis stocks are mostly higher, as investors digest Tilray Inc.’s earnings and the latest moves by New Jersey and Pennsylvania to pave the way toward legalization.
Canopy Growth Corporation (NYSE:CGC) has announced that they have signed an agreement with OG DNA Genetics for the expansion of a previously signed partnership with the extension running to 2024. According to the newly signed agreement, the companies have extended the partnership agreement beyond Jamaica and Canada. Expansion of agreement to Europe Canopy Growth and […]The post Canopy Growth Expands Partnership With DNA Genetics appeared first on Market Exclusive.
Sales growth and partnerships aside, pot stock Tilray leaves a lot to be desired.
Miller Lite’s latest ad assault on Bud Light picks up seconds after its larger rival’s biggest Super Bowl ad ended, imagining what happens after the commercial stops shooting. Instead of the Super Bowl, the commercial and another along the same lines will air during coverage of the NCAA men’s basketball tournament on TV and online. SA’s Bud Light used its medieval-themed “Dilly Dilly” campaign to associate competitors with corn syrup.
Cronos Group (CRON) was the first Canadian marijuana stock to gain listing on the Nasdaq (others have followed in its footsteps), notes Tyler Laundon, editor of Cabot Small Cap Confidential.
OUTSIDE THE BOX Tobacco stocks got a bounce earlier this month on news of the resignation of Food & Drug Administration chief Scott Gottlieb. This made sense because he has had it in for vaping, menthol cigarettes and nicotine levels in cigarettes.
So far, 2019 has been good to Cronos Group (NASDAQ:CRON). Its share price has more than doubled this year. And the CRON stock gains make some sense.Indeed, as I wrote in December, the $1.8 billion investment in CRON stock by Altria (NYSE:MO) seems to be a game-changer. Among cannabis stocks, only Canopy Growth (NYSE:CGC), with $4 billion in hand from its deal with Constellation Brands (NYSE:STZ), looked to be in a stronger financial position. And yet, amid a market sell-off, investors largely shrugged at Cronos Group stock.That's changed in 2019, obviously, and perhaps it's changed a little too much. I still believe CRON stock needs to settle down. And I'm not alone. Wall Street has turned notably bearish on the shares in recent weeks. Ahead of Cronos Group earnings next week, those analysts might have a point.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cautious Turn on CRON StockAs MarketWatch pointed out last week, the Street on the whole actually sees downside ahead for CRON shares. Some 11 analysts on average have a target price of $20.30, or 6.6% below current levels.And recent coverage hasn't been all that positive. Per MarketWatch, BMO Capital Markets downgraded CRON to underperform. Analyst Tamy Chen pointed out that CRON trades at 80x EBITDA estimates -- two times the multiple sported by Aurora Cannabis (NYSE:ACB) and higher than Canopy Growth.Chen isn't alone. GMP Securities cut Cronos to hold earlier this month. Cowen (NASDAQ:COWN) initiated at neutral. Jefferies Financial Group (NYSE:JEF) began its coverage of Cronos Group stock with an underperform in late February (though CRON stock rose anyway). * Top 7 Service Sector Stocks That Will Pay You to Own Them To be sure, the Street isn't as always right. And even bearish analysts -- including the team at Jefferies -- have pointed to a massive opportunity in both recreational and medicinal cannabis.But for investors looking for the best cannabis play, it's worth noting that the analysts aren't just focused on valuation. BMO has pointed out that Cronos is trailing other Canadian producers in building out capacity. According to Yahoo! Finance, Jefferies cited concerns about when, exactly, Cronos would spend the funds from Altria -- and how much support the tobacco giant would give the pot producer in the early going.While it's easy to dismiss analyst concerns -- and, again, it's far from guaranteed that the Street is correct -- the factors driving the downgrades should be given some consideration. This isn't a case of analysts simply hollering about near-term valuation metrics, or arguing that cannabis stocks represent some sort of bubble.The common thread in recent coverage isn't that Cronos Group is failing or that it has no opportunity. Rather, the worry is that the company isn't moving fast enough in an industry where being a first mover increasingly looks like a key advantage. Earnings and Cronos Group StockIt's not just analysts who are making that point. InvestorPlace contributor Luke Lango made the case last month that Canopy Growth, not Cronos, was the best play in cannabis. One reason: CGC stock is actually cheaper on a per-kilogram basis.That can change if Cronos ramps production and puts its Altria funds to work. So far, however, that hasn't quite been the case. In fact, the company earlier this month swapped its shares of privately held Whistler Medical Marijuana for shares in Aurora Cannabis. That deal highlights the difference between the two companies. * 15 Stocks That May Be Hurt by This Year's Big IPOs Aurora's strategy clearly is to take as many shots at as many opportunities as possible in the shortest amount of time. With that strategy, it's possible that Aurora is taking on too many projects. But in a fluid market (from both a competitive and regulatory perspective), and one with multiple products (recreational, medical, CBD, edibles, etc.), Aurora is trying to gain exposure to as many markets as possible.Cronos doesn't have to take the same path as Aurora. But with the stock near the highs -- and triple late November levels -- it's going to need to show something with earnings next week. That may be discussion of what exactly it plans to do with its $1.8 billion in newly received cash. It may be clarity on Altria's role. (Note that Altria's senior director of corporate strategy is joining Cronos as chief financial officer, perhaps a step in the right direction.) It may be talk of additional M&A, after a huge win on the Whistler deal. (Cronos appears to have invested CAD$4 million [$3 million] in the company - and received C$175 million in Aurora stock.)Whatever it is, with the highest valuation in the cannabis stock, the status quo isn't enough. Cronos needs to post an impressive earnings report next week -- and not just in the numbers. Rather, the company needs to convince investors that it can take advantage of its cash, and put that cash to work to drive growth. It won't be easy - and at these prices, expectations are going to be high.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Who's Made The Right Call On Cronos Group Stock? Altria or Analysts? appeared first on InvestorPlace.
Numbers By Barron’s is a two-minute financial podcast with three vital numbers to start your morning. The financial markets are hinting at a rate cut in 2020, which has some people worried about a recession. The decline came after U.S. regulators filed a statement claiming that chief executive Elon Musk had violated a court order.