Yahoo Finance 3 Canadian Marijuana Stocks Getting a Big Boost This Month
CORAL GABLES, FL / ACCESSWIRE / August 20, 2018 / Typically the industry for marijuana stocks is quiet during the summer months. This year, however, has seen a surge in pot stocks during late August. As the legalization of recreational marijuana in Canada looms, some blue-chip companies have taken notice. Both companies in the alcohol space, Constellation Brands (STZ) and Molson Coors Brewing Company (TAP) have made big money bets on companies within the industry. Most recently, Constellation put $4 Billion into one budding cannabis company.
Canopy Growth (CGC) (WEED.TO) has taken a big piece of attention in the market and for good reason. Constellation has already seen the success the first time it made a minority investment into the cannabis company and now a $4 billion infusion gets the Corona brewer in the game with nearly a 40% stake.
Canaccord Genuity's Matt Bottomley on Aug. 15 upgraded Canopy Growth from Hold to Speculative Buy and increased the price target for the company's Canadian stock to C$50. "The company is substantially better suited to execute on a global first mover advantage with the capital and strategic leverage provided by Constellation."
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This event has sparked more interest in cannabis stocks. A Canadian company, GTEC Holdings (GTEC)(GGTTF) has seen its own jump in stock prices over the last week. The company announced several new developments this month. First, GTEC Holdings released news that it has hired Lawrence Law as GTEC's Global Marketing & Branding Director.
The interesting part of this as the market focuses on strategic investment by alcohol companies is that Mr. Law was previously employed at Diageo plc (DEO). At Diageo, Mr. Law was Global Brand Director for Johnnie Walker's Blue Label and Super Premium Portfolio. He was accountable for building a premium brand strategy, revenue performance, and growth of Johnnie Walker's Luxury Portfolio globally.
During his 10-year tenure at Diageo, he spearheaded multiple pioneering marketing and product innovations including Johnnie Walker's Luxury Retail Experiences, Digital Product Personalization and the Casks of Distinction Single Malts Program.
Furthermore, the company also updated the market on its extraction facility, which is on track for 2019. GTEC previously announced that it had acquired a warehouse located in Kelowna, B.C. for the purpose of submitting an application to the Office of Controlled Substances for a Dealer's License. The site will be developed in a phased approach and will serve as a Good Manufacturing Practices (GMP) grade facility with extraction, formulation, compounding and export capabilities to support GTEC's Licensed Producers and the global medical market.
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Finally, one of the market's pot stocks that have been beaten down for the last few months has begun to find a new uptrend after this big industry news was released. Aurora Cannabis (ACB.TO) (OTC PINK: ACBFF) has rallied for 3 consecutive days now. Shares of the cannabis company have been battered since early July. The company's stock was trading at roughly $7 at the beginning of July and has since slid to as low as $4.05 in August. Since that point, however, Aurora has jumped by as much as 34% following morning highs on Monday of $5.43.
Today the company announced that, in connection with the spin-out of its subsidiary Australis Capital Inc., Aurora has set Friday, August 24, 2018, as the record date for the distribution of Australis units. "There is massive demand for additional capital to fuel the growth of the U.S. cannabis industry, as well as intense interest among investors to gain access to the American market. We are very pleased to have created this opportunity for Aurora's shareholders," said Terry Booth, CEO of Aurora. "The unparalleled access to numerous compelling business opportunities in the U.S. positions Australis well to generate significant shareholder value."
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC, Midam Ventures LLC and GTEC Holdings Inc., Midam is being paid $63,333 per month from the company for a total of 12 months and has received ZERO shares of GTEC Holdings Inc. for a duration of beginning July 10, 2018 and ending July 10, 2019. We may buy or sell additional shares of (GTEC) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.
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