Yahoo Finance 3 Stocks That Could Boom From Legal Cannabis
CORAL GABLES, FL / ACCESSWIRE / October 19, 2018 / No one can deny the excitement that is and has been buzzing around marijuana stocks. Over the last few weeks, cannabis has been on the tip of everyone's tongues. Mainly Canadian cannabis stocks have taken center stage considering the country has become only the second in the world to legalize recreationalmarijuana on a national level. The "usual suspects" have seen more attention, of course, but there are other companies that could see a positive impact from the "after effects" of the recreational high. Today we're taking a closer look at ParcelPal Technologies (PTNYF)(PKG.CN), GrubHub (GRUB), and Yelp (YELP).
ParcelPal (PTNYF)(PKG.CN) isn't just your "run-of-the-mill" delivery company sharing company with the likes of Uber Eats and Postmates. The company is going directly after the international markets that have very limited access to technology like this right now. ParcelPal is a technology driven logistics company focused on delivering whatever its clients desire. Further to this, the company has also focused on the budding cannabis industry in Canada.
ParcelPal (PTNYF)(PKG.CN) recently signed an agreement for Cannabis distribution with Vancouver, BC based Choom Holdings, Inc (CHOO) (CHOOF) a leading cannabis retailer in Canada. President and CEO Kelly Abbott States, "We are extremely pleased and excited to have this agreement from Choom and fully intend to utilize other partnership opportunities to forward our national cannabis distribution and delivery strategy. Our contemplation is to be the Uber of cannabis for Canada and grow our revenues exponentially through this vertical."
Furthermore, the company announced this week that they have obtained their DTC eligibility in the United States of America. Shares are up over 18% in the last week.
For More Information On ParcelPal, Click Here
GrubHub (GRUB) said Wednesday it has expanded its delivery service to dozens of new markets across 19 states nationwide, a significant step for the company as it expands to more than 100 new markets in 2018.
According to GrubHub, restaurants in these new markets can now provide delivery using the company's driver network, creating new customers and unlocking new revenue streams. Diners already using the platform can now get additional menu choices in their neighborhood.
GrubHub will host a conference call to discuss its third quarter financial results on Thursday, Oct. 25, 2018, at 9:00 a.m. CT, following the release of the Company's financial results.
Grubhub is a leading online and mobile food ordering company dedicated to connecting hungry diners with local takeout restaurants. The company's online and mobile ordering platforms allow diners to order from more than 85,000 takeout restaurants in over 1,600 U.S. cities and London.
For More Information On GrubHub, Click Here
Yelp (YELP) has also helped to expand the deliver services for customers looking to "chill" after a hard day of recreational cannabis use. Through a deal with GrubHub/Eat24, the two companies completed the successful integration of Grubhub's restaurant network onto the Yelp platform.
"By tapping into Grubhub's restaurant network, Yelp now offers users the ability to order from a larger and better selection of restaurants across the country," said Jeremy Stoppelman, Yelp's co-founder and chief executive officer. "Our long-term partnership with Grubhub strengthens Yelp's competitive position in the restaurant category, which brings millions of users to our platform every day."
Since August, shares of Yelp have jumped from lows of $37 to as high as $52.50.
For More Information On Yelp, Click Here
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