Yahoo Finance 4 Marijuana Stocks To Watch During Thanksgiving Week
CORAL GABLES, FL / ACCESSWIRE / November 19, 2018 / This month marijuana stocks have been very active. As of November 7, US Attorney General Jeff Sessions is out and an interim AG is in. This all occurred following Canada’s full legalization of recreational and medicinal cannabis. Long thought of as a major hurdle for the cannabis industry, Sessions’ departure is seen as a positive marker for marijuana stocks.
According to reports from firms like Deloitte*, “The total cannabis market in Canada, including medical and illegal as well as legal recreational products, is expected to generate up to $7.17 billion in total sales in 2019. Legal sales are expected to contribute more than half of this total—up to $4.34 billion—in the first year. Current and likely consumers expect to pay slightly more for legal products, with the former saying they’re willing to pay 10 percent more.”
With this being the case, investors are looking for new opportunities in the growing legal cannabis industry in North America. Here are 4 marijuana stocks to watch during Thanksgiving week.
Integrated Cannabis Company (ICNAF) (ICAN) has seen its shares climb by more than 14% over the last 3 trading days. This is in line with the refreshed industry momentum that has sparked a number of rallies in cannabis stocks. Integrated Cannabis Company (ICNAF) (ICAN) 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.
In addition to this, Integrated Cannabis Company (ICNAF) (ICAN)has also received its initial purchase order from Empower for a selection of X-SPRAYS™ products. Empower has more than 25,000 patients under care across 15 locations with medical cannabis treatments in Oregon, Washington and Illinois. The patient base in Oregon represents approximately one-third of the state’s total medical card issuance. In addition, Empower has an historical patient database of which exceeds 120,000 in the three States.
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 update, 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.
For More Information On Integrated Cannabis Company (ICNAF) (ICAN), Click Here
Tilray (TLRY) has been a mainstay among industry professionals. The stock saw a run to highs of $300 per share earlier this year, which ignited more interest surrounding the industry in general. Tilray reported its financial results for the third quarter and nine months ended September 30, 2018. Revenue increased to $10.0 (C$12.9) million, up 85.8% compared to the third quarter of last year. The increase in revenue was driven by increased patient demand, bulk sales to other Licensed Producers, and accelerated wholesale distribution in export markets.
Brendan Kennedy, President and Chief Executive Officer of Tilray said, “We are in the early stages of achieving our growth potential and our team continues to strategically execute on disciplined operational initiatives and investments to support Tilray’s long-term, sustainable growth as the pace of legalization continues to accelerate around the world. Going forward, the demand for our products is strong and we remain committed to expanding our leadership in the global medical and adult-use cannabis markets.”
Unlike other pot stocks, shares of Tilray traded relatively sideways last week. On Wednesday, the company’s stock opened at $105.6 and finished out the week on Friday afternoon at a price of $110.48. Pre market saw Tilray shares trading around $109.
For More Information On Tilray, Click Here
Charlotte's Web Holdings, Inc. (CWBHF) (CWEB) is in the production and distribution of innovative hemp-based cannabidiol wellness products. Charlotte's Web current product categories include tinctures (liquid products), capsules, topical, as well as pet products. Charlotte's Web hemp-based whole plant extracts are sold through select distributors, brick and mortar retailers, and online through the Company's website.
Charlotte’s Web will issue its third quarter results via press release after the close of trading on the Canadian Securities Exchange (CSE) on November 27, 2018. A conference call to discuss the results has been scheduled for the same day at 4:30 p.m. Eastern Time.
The company recently announced that it has surpassed 3000 retail locations across the United States. At the end of 2017, Charlotte's Web products were sold in approximately 2,000 locations. The Company disclosed today that it surpassed its 2018 year-end goal of 3,000 locations during the 3rd quarter.
For More Information On Charlotte's Web, Click Here
CannTrust (OTC PINK: CNTTF) (TRST.TO) saw its shares climb during Thursday’s session with momentum carrying over into Friday morning. The company is a licensed producer of medical and recreational cannabis under the Cannabis Act and its regulations, and announced financial and operating results for the three and nine months ending September 30, 2018.
Revenue for the three and nine month periods ended September 30, 2018 was $12,588,727 and $29,478,813 respectively, compared to $6,140,224 and $13,714,847 in the comparable 2017 periods. Net Income for the three and nine month periods ended September 30, 2018 was $421,240 and $11,968,255 respectively, compared to a net income of $655,309 and $632,269 in the comparable 2017 periods. Earnings per share for the three and nine month periods ended September 30, 2018 was $Nil and $0.12 respectively, compared to earnings per share of $0.01 and $0.01 in the comparable 2017 periods.
“We are extremely pleased with our Q3 results that are a testament to the success of this Company and the incredible progress that we have made in such a short period of time. With the opening of the recreational market and the numerous opportunities that our Company is positioned to capitalize on, this is only the beginning," said Eric Paul, Chairman of the Board.
Shares of CannTrust hit highs of $7.13 on Friday morning.
For More Information On CannTrust, 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
*Deloitte Report: https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/consulting/ca-cannabis-2018-report-en.PDF
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