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Follow this list to discover and track the stock of publicly traded companies with exposure to cannabis
Anheuser-Busch InBev SA/NV
Altria Group, Inc.
Canopy Growth Corporation
Molson Coors Beverage Company
The Scotts Miracle-Gro Company
Canopy Growth Corporation
GW Pharmaceuticals plc
Cronos Group Inc.
Aurora Cannabis Inc.
Corbus Pharmaceuticals Holdings, Inc.
CannTrust Holdings Inc.
The Green Organic Dutchman Holdings Ltd.
New Age Beverages Corporation
CannTrust Holdings Inc.
The Green Organic Dutchman Holdings Ltd.
General Cannabis Corp
Terra Tech Corp.
ETFMG Alternative Harvest ETF
From understanding your risk tolerance to maintaining emotional control, achieving your retirement goals takes a much different investing approach than regular stock trading.
Shares of AbbVie Inc. were up 0.2% in premarket trading on Wednesday after the drugmaker and Ironwood Pharmaceuticals Inc. said a mid-stage study testing an experimental drug in patients with a form of irritable bowel disease (IBS) had failed. Ironwood's stock tumbled 12.4% before the market opened. The companies said they are halting development of the drug, as result of the Phase 2 clinical trial, which found there was no clinically meaningful effect on bowel function. "We are disappointed by the results from this study," Ironwood CEO Mark Mallon said in a news release. Year-to-date, AbbVie's stock is up 2.4%, Ironwood's shares are down 12.1%, and the S&P 500 has declined 7.4%.
The largest pot stock in the world is set to report its fiscal fourth-quarter and full-year results on May 29.
Canopy Growth Corp. will beat sales estimates when it reports March quarter earnings on Friday, but the stock may benefit more from clear guidance on EBITDA and cash flow, Cantor Fitzgerald said Wednesday. At Cresco Labs, the focus will be second-quarter sales guidance and an an update of the timing and scope of Illinois and Pennsylvania cultivation capacity expansion, said Cantor analyst Pablo Zuanic in a note to clients. Cresco already released guidance for its March quarter sales. Finally,at MedMen "further dilution risk (on top of the 2.2x jump in the share count from Dec to Mar) keeps us sidelined; that said, we expect a COVID-related sales beat, but progress re cash burn may be more important for the stock," Zuanic wrote. The analyst rates Canopy, the Canadian market leader, at Neutral, rates Cresco Overweight and has a neutral rating on MedMen. Canopy shares were down 0.7% premarket, while Cresco and MedMen were not yet active. Canopy has fallen 5% in the year to date, while the Cannabis ETF has fallen 10% and the S&P 500 has fallen 7%.
No matter how dire things may have appeared in previous bear markets, bull-market rallies eventually erase all evidence of downward moves in the stock market. Also keep in mind that you don't have to be rich to generate a handsome return from the stock market. With the exception of the oil and gas industry, there's probably not a harder-hit industry lately than bank stocks.
Canada's recreation cannabis sales grew by 19% in March to reach CA$181.1 million ($131.5 million), ahead of most U.S. states, according to Cantor Fitzgerald.Analyst Pablo Zuanic said that Canada's March sales data was significantly ahead of Cantor's mid-single digit estimate, partly due to pantry loading, but also on account of continued Cannabis 2.0 rollouts.Ratings And Price Targets Cantor analyst Pablo Zuanic maintained the following ratings and price targets on cannabis stocks:Overweight * Aurora Cannabis Inc. (NYSE: ACB) with a CA$27 price target. * Aphria Inc. (NYSE: APHA) with a CA$9.55 price target. * OrganiGram Holdings Inc (NASDAQ: OGI) with a price target of CA$5.60. Neutral * Canopy Growth Corp (NYSE: CGC) with a price target of CA$25. * Tilray Inc (NASDAQ: TLRY) with a price target of $8. Underweight * Hexo Corp (NYSE: HEXO) with a price target of CA$0.72.Cantor's Cannabis Takeaways Comparing Canada's 17th month of recreational cannabis sales with Colorado's figures indicates that the country's market may grow to CA$14 billion by the end of 2024, Zuanic said in the industry note.So far, the best performers in the first quarter are Aphria, with 53% sales growth, and Aurora Cannabis and Tilray, with sales growth in the mid-20% range, the analyst said.Canopy Growth is scheduled to report its March quarter results Friday.Zuanic named Aphria and Aurora Cannabis as top picks.Related Links: Canopy Growth Set To Become Cannabis Sector Leader, Says BofAThe Week In Cannabis: A Great Week For Stocks Driven By Confusion, Aurora's Rally, New Advisors To BenzingaCourtesy photo * Analista: Aphria y Aurora Cannabis Posicionados para Liderar Ventas en CanadaLatest Ratings for APHA DateFirmActionFromTo May 2020Cantor FitzgeraldMaintainsOverweight May 2020Cantor FitzgeraldMaintainsOverweight Apr 2020CIBCMaintainsNeutral View More Analyst Ratings for APHA View the Latest Analyst Ratings See more from Benzinga * Cantor Fitzgerald Says Aurora Cannabis Sell-Off Creates Entry Point * Monthly Canadian Cannabis Sales Increased Ahead Of Coronavirus Pandemic(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Cronos (CRON) saw a big move last session, as its shares jumped more than 8% on the day, amid huge volumes.
Other steps the company has taken to save cash during the pandemic crisis include plans to cut 2020 capital expenditures by about $200 million, furloughing certain employees,” reducing discretionary spending, and limiting new hiring.
Canopy Growth (CGC) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.
AbbVie stock recently broke out and the pharmaceutical company just wrapped its acquisition of Allergan. Is AbbVie stock a buy now?
Investors will be watching closely whether Canopy Growth can finally make a profit and report positive free cash flow when it releases earnings on May 29.
As most of North America goes back to work following shutdowns due to the coronavirus outbreak, one sector that survived the economic weakness was the cannabis sector. The sector was generally seen as essential by various governments due to the medical cannabis aspect while other retailers were forced to close.The Canadian cannabis sector continues to see sales grow as more retail stores are opened and Cannabis 2.0 products are rolled out. For January/February, sales were roughly C$150 million per month. The country is now on the pace to top C$2 billion in annual sales this year.In April, the sector now has 1.5x the number of retail stores as recently as November with more stores on the way in the key province of Ontario. In addition, the Cannabis 2.0 rollout continues to provide another boost to sales.The bigger question for the sector was liquidity as financial markets became less willing to lend to firms in a developing market such as cannabis with the onset of a recession. Yet, despite weak access to affordable capital, the strong sector sales set up the players with excess cash to survive and thrive in this period. We’ve delved into these Canadian cannabis stocks with two stocks to consider here and one to avoid. Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other to get the lowdown on what the near-term holds for these cannabis players.Aphria (APHA)We will start with Aphria, a Canadian cannabis producer with a strong cash balance sheet and a solid operating business. The stock has started a solid rally off the $3 lows due to encouraging signs in the cannabis sector.The company ended the last quarter with C$600 million in cash on the balance sheet. On the negative side, Aphria did have C$465 million in debt, but the key at this point in the cycle is the liquidity while smaller competitors lack access to reasonable funding.The company made the recent deal in May to convert C$127.5 million worth of convertible debt by issuing 18.7 million shares for a conversion price of $4.84 per share. The deal saves C$6.7 million in annual interest costs.Analysts are forecasting FY20 revenues reaching $390 million followed by nearly $500 million in FY21. The stock has a market cap below $1 billion so lots of value exists here.The stock is one of the cheapest in the Canadian cannabis space and Aphria is one of only a few cannabis companies with a net cash position above C$150 million. The stock rally to $4 appears the start of extended gains as Aurora Cannabis changed the sentiment in the Canadian cannabis sector.Overall, APHA holds a Moderate Buy rating from the analyst consensus, based on 5 “buy” ratings and 2 “holds.” Shares are selling for $4.19, and the average price target of $5.45 implies about 30% upside potential. (See APHA stock analysis on TipRanks)Canopy Growth (CGC)As with a lot of sectors, the rich only got richer during the downturn. In this case, Canopy Growth saw Constellation Brands cash in warrants providing more cash for financing growth. The large Canadian cannabis company ended the December quarter with a cash hoard of C$2.26 billion and the C$245 million from the warrants will further boost the balance sheet. The biggest question for Canopy Growth is whether the new management team can drastically cut the cash burn from large EBITDA losses.The news wasn’t really surprising with the strike price at only C$12.9783 per share for 18,876,901 warrants to purchase Canopy Growth when the stock was trading above C$21.The warrants equated to 5.1% of the outstanding shares of Canopy Growth placing the Constellation Brands position up to 38.6%. The company owns warrants to purchase another 139,745,453 shares for a controlling position of 55.8%.With the extra cash, Canopy Growth remains a solid stock to own here at $18. My recommendation has recently held to pick up the stock on weakness as the company looks to grow revenues while substantially cutting the EBITDA losses from the C$92 million in the last quarter. As the company gets closer to breakeven, the stock will regain a lot of the previous interest in the cannabis space that originally drove the stock above $50. (See Canopy stock analysis on TipRanks)Tilray (TLRY)The big-name Canadian cannabis company in the opposite position is Tilray The company has limited cash and a highly unprofitable business.Tilray generated $52 million in Q1 revenues and analysts forecast Q2 revenues of ~$55 million. The big problem is the ongoing large losses. The company plans to get quarterly operating expenses down to $40 million, but Tilray only generates gross margins in the 29% range.My biggest issue is that Tilray is plugged into a lot of different business with Canadian cannabis, U.S. hemp and international operations causing the large expense base. If the company had the balance sheet of Canopy Growth or Aphria, the spending levels wouldn’t be a problem.Tilray ended March with $174 million in cash and had to raise $60 million in debt during February before completing an equity offering. Back in March, the company sold 7.25 million shares and warrants for net proceeds of $90.4 million.Analysts have Tilray losing money for the next couple of years and the market isn’t going to find money-losing cannabis stocks very appealing in this environment. Investors should watch for the Canadian cannabis company to drastically reduce the quarterly EBITDA losses after losing another $21 million in Q1. Once Tilray gets to a position where additional funds aren’t needed, the stock can be removed from the 'avoid' list.To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclosure: No position.
CALGARY , May 27, 2020 /CNW/ - Inner Spirit Holdings Ltd. ("Inner Spirit" or the "Company") (ISH.CN), a Canadian company that has established a national network of Spiritleaf retail cannabis stores, today announced Retail Operator Licences ("ROLs") have been secured for a number of franchise partners who now meet Ontario's eligibility criteria for operating cannabis outlets in the province. The ROLs were granted by the Alcohol and Gaming Commission of Ontario ("AGCO") as part of the regulator's plan to expand the number of legal cannabis retail stores in the province.
AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, today announced that it will present new safety and efficacy results for RINVOQ™ (upadacitinib) in adult patients with moderate to severe active rheumatoid arthritis, primary data of RINVOQ for investigational use in psoriatic arthritis, as well as additional data on HUMIRA® (adalimumab) in psoriatic arthritis at the European E-Congress of Rheumatology (EULAR) 2020, June 3-6. A total of 25 abstracts will be presented across multiple rheumatic conditions, including rheumatoid arthritis, ankylosing spondylitis and psoriatic arthritis.
Topline data on schedule for summer 2020Systemic sclerosis (SSc) is a rare, serious and life-threatening autoimmune disease affecting ~200,000 people in the U.S., EU and.
We travel to tobacco fields, out-of-favor telcos, and even China to find some of the market's top high-yielding stocks.
Tilray, Inc. ("Tilray" or the "Company") (NASDAQ: TLRY), a global pioneer in cannabis research, cultivation, production and distribution, today announced its wholly-owned subsidiary Tilray Portugal, Unipessoal Lda. ("Tilray Portugal") has received a Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Cantanhede, Portugal. The GMP certification was issued by Infarmed, the Portuguese National Authority of Medicines and Health Products which provides end-to-end GMP certification for Tilray’s current operations in Portugal.
On CNBC's "Mad Money Lightning Round," Jim Cramer said Newell Brands Inc (NASDAQ: NWL) is not high quality and it doesn't have a great balance sheet.Instead of Caesars Entertainment Corporation (NASDAQ: CZR), Cramer would buy Penn National Gaming, Inc (NASDAQ: PENN).Schrodinger Inc (NASDAQ: SDGR) is a very, very smart company and a great spec, said Cramer. He likes the stock.See Also: Canopy Growth Set To Become Cannabis Sector Leader, Says BofACramer said NortonLifeLock Inc (NASDAQ: NLOK) is an undervalued stock and it should be bought. He likes it very much.Canopy Growth Corp (NYSE: CGC) is the most legit of all the cannabis stocks, said Cramer. He added that it has a great management.Cramer is deeply committed to Beyond Meat Inc (NASDAQ: BYND) and its CEO. He thinks the stock is terrific, but it's also a wild trader.Pure Storage Inc (NYSE: PSTG) worked its way back and it is pretty good, said Cramer.See more from Benzinga * Fast Money Traders Share Their Thoughts On Beyond Meat * Cramer Comments On IHS Markit Ltd, Pinterest And More * Cramer Shares His Thoughts On MGM Resorts, Starbucks And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.