Yahoo Finance 3 Marijuana Stocks Benefiting from New Cannabis Industry Trends
CORAL GABLES, FL / ACCESSWIRE / November 13, 2018 / Marijuana stocks have gotten even more popular following US midterm elections. The market growth expected to come over the next few years could drive industry expansion even further. This week, a number of cannabis stocks are slated to release earnings as well.
According to Grand View Research, the global legal marijuana market is expected to reach $46.4 billion by end of 2025, according to a new report by Grand View Research, Inc. Growing adoption of marijuana in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in near future. Medical marijuana emerged as the largest marijuana type segment in 2016 and is estimated to be valued at $100.03 billion by 2025. This week investors are looking at several marijuana stocks ahead of potential earnings catalysts.
Integrated Cannabis Company (ICNAF) (ICAN) has seen its shares climb over the last few months. Back in August, shares were trading at roughly $0.40. During the following months, Integrated Cannabis Company (ICNAF) (ICAN) ran as high as $1.58. The company has recently announced the completion of a Definitive Agreement to distribute its line of X-SPRAYS™ products through the clinic and doctors’ offices of Empower Clinics. Empower is a leading owner and operator of medical cannabis and wellness clinics in the US.
Integrated Cannabis Company (ICNAF) (ICAN) currently has a product portfolio of CBD and THC oral sprays and has also begun expanding its offering for new products. In a recent announcement, Integrated Cannabis Company (ICNAF) (ICAN) announced an agreement to license Cannabidiol (CBD) formulated gummies.
Integrated Cannabis plans to begin distributing CBD-based gummies through its contract manufacturer, Titration Technologies, in Phoenix, Arizona.
Today, Integrated Cannabis Company (ICNAF) (ICAN) trade around $0.54 and trade as high as $0.62 while the greater cannabis market has consolidated this week.
For More Information On Integrated Cannabis Company (ICNAF) (ICAN), Click Here
Tilray (TLRY) is expected to report earnings this afternoon. Shares of the Canadian cannabis company have recovered after a sharp decline last week. According to FactSet, analysts covering the stock are expecting a $0.12 loss on earnings per share and $10 million in revenue.
Tilray recently announced that Brendan Kennedy, President and Chief Executive Officer, and Mark Castaneda, Chief Financial Officer, Secretary, and Treasurer, will present at the Morgan Stanley Global Consumer and Retail Conference. The presentation will be on Wednesday, November 14, 2018 at 1:00 p.m. ET and the simultaneous, live webcast will be available on the Investors section of the Company's website. The webcast will be archived for 30 days.
Tilray focuses on medical cannabis research, cultivation, processing, and distribution. Tilray is said to be the first GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments and researchers on five continents.
For More Information On Tilray, Click Here
MedMen Enterprises (MMNFF) (MMEN.CN) shares have seen a bounce this afternoon. Following lows of $4.77, MedMen has rebounded to as high as $4.90. The company announced that it has entered into a letter of engagement with Canaccord Genuity Corp. under which Canaccord has agreed to purchase, as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters 17,648,000 units of the Company on a "bought deal" basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $6.80 for gross proceeds of $120,006,400.
Unlike many other Canadian listed marijuana stocks, MedMen Enterprises is a cannabis company in the U.S. with assets and operations across the country. MedMen has also recently signed a definitive agreement to acquire control of Kannaboost Technology Inc. and CSI Solutions LLC, collectively referred to as "Level Up," in a cash and stock transaction valued at $33,000,000. Level Up holds licenses for two vertically-integrated operations in Arizona, which include retail locations in Scottsdale and Tempe, as well as 25,000 square feet of cultivation and production capacity in Tempe and Phoenix.
"This acquisition strengthens our presence in one of the top cannabis markets in the U.S.," said Adam Bierman, MedMen chief executive, and co-founder. "We will continue to identify highly accretive transactions in core states and remain laser-focused on executing our retail playbook."
For More Information On MedMen, Click Here
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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 (owners of MarijuanaStocks.com), Midam Ventures LLC and Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 2 months beginning September 4, 2018, and ending March 9, 2019. This payment has been increased to $75,000 per month for the period of November 4 2018 and ending March 9, 2019. We own ZERO shares of Integrated Cannabis Company. We may buy or sell additional shares of (ICNAF)/(ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company. MarijuanaStocks.com, which is owned by MAPH Enterprises LLC., a Florida Corporation has been previously compensated $100,000 by a non-affiliate 3rd party for a 1 year period beginning August 1, 2017 and ending August 1, 2018 to publicly disseminate information about CNRP Mining, Inc. (CND.CN) (CRPGF) that is now Integrated Cannabis Company. Please click here for full disclaimer
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