|Bid||8.26 x 0|
|Ask||8.26 x 0|
|Day's Range||7.44 - 8.34|
|52 Week Range||5.29 - 16.24|
|Beta (3Y Monthly)||1.28|
|PE Ratio (TTM)||27.98|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.75|
Pot stocks like Canopy Growth Corp (TSX:WEED)(NYSE:CGC) are getting hit hard as supply chain troubles continue. Buy the dip or stay away?
Last week, on November 14, Canopy Growth (WEED) (CGC) reported its second-quarter earnings, which largely disappointed the market. The stock took a beating after the earnings and continued to do so in the following trading sessions. After the earnings, the widely followed host of Mad Money on CNBC, Jim Cramer, stated that Canopy Growth is “the only one you can really own and you’ve got to sell the rest.” Let’s look at what other analysts think about the stock.
Tilray (TLRY), which reported its earnings on November 13, missed both top-line and bottom-line consensus estimates, which led to a correction in the stock. Despite the earnings miss, the company remained optimistic about the future of the cannabis sector. In its earnings call, the company’s CEO, Brendan Kennedy, stated, “the cannabis industry remains very robust.” Learn more at Tilray Says ‘Cannabis Industry Remains Very Robust.’
Last week, Aurora Cannabis (ACB)(ACBFF) reported year-over-year revenue growth of 260% in its first quarter, which ended on September 2018. The overall revenue partially included sales from recreational cannabis. Consequently, the gross margin expanded year-over-year from 58% to 70% in the first quarter. Let’s look at how analysts’ price target and recommendations for the company have changed after the earnings.
Investorideas.com, a leading investor news resource for cannabis stocks releases a snapshot looking at CBD and its future role as a pain treatment in healthcare, and how it is being advocated and embraced by professional athletes. The World Anti-Doping Agency (WADA) officially removed cannabidiol (CBD) from its Prohibited Substances List effective January 1, 2018 and that has opened up a lot of opportunity for athletes looking for more natural pain treatment solutions and companies in the space. In June of this year, The BIG3 basketball league announced they will allow players to use cannabidiol (CBD) as a pain treatment and for recovery.
Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) and Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) have had a bittersweet roll-out over the past month.
While the overall markets were filled with negative sentiments, the earnings season for cannabis stocks dampened the excitement in the sector. Most of the cannabis companies missed consensus estimates. In the above chart, you can see some of the big cannabis names (HMMJ) that saw an impressive run-up in October 2018 as marijuana became legal in Canada.
Canopy Growth Corp (TSX:WEED)(NYSE:CGC) and Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) stocks plunged on the back of disappointing quarterly results. Is it time to buy pot stocks?
Canopy Growth Corp.'s (TSX:WEED)(NYSE:CGC) 33% revenue growth in the latest quarter was accompanied by a 225% increase in operating expenses, sending the stock lower.
The cannabis sector ended in negative territory last week. The Horizons Marijuana Life Sciences ETF (HMMJ) fell ~6.2%, and the ETFMG Alternative Harvest ETF (MJ) fell 5.8% during the period. Most cannabis stocks also ended in the negative territory.
MedMen (MMNFF) has entered into agreements with different companies to expand its footprint. We outline a few of the recent agreements below.
POINT ROBERTS, Wash. and LAS VEGAS, Nov. 19, 2018 (GLOBE NEWSWIRE) -- www.Investorideas.com, a global news source covering marijuana and hemp stocks and its cannabis podcast site www.potcasts.ca report from Las Vegas at this year’s biggest MJBizCon show to date, from the first ever Podcasters Row. Since it was founded seven years ago, MJBizCon has grown to become the largest trade show in the cannabis industry. This year’s record attendance was a notable reflection of the sectors growth and all the industry professionals on the floor were impressed.
Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) and Aphria Inc. (TSX:APHA)(NYSE:APHA) stocks have been throttled over the past month, but the future looks bright.
Did Aurora Cannabis Inc (TSX:ACB)(NYSE:ACB) realistically outperform Canopy Growth Corp (TSX:WEED)(NYSE:CGC) last quarter?
Cannabis stocks have made several investors wary because of their high level of volatility. Earlier this week, some of the companies that reported earnings such as Canopy Growth (WEED), Tilray (TLRY), and Aurora Cannabis (ACB) (ACBFF) missed analysts’ estimates by a large margin, and the stocks got hammered. In an interview with CNBC, Andrew Left of Citron Research was largely pessimistic on the Canadian cannabis industry and expects that cannabis stocks will fall in the near term.
Four of Canada’s largest cannabis companies reported earnings this week. While many investors anxiously awaited management’s outlook for the newly-legal recreational market at home, executives clearly wanted to talk up ambitions abroad.
On November 15, the widely followed host of Mad Money on CNBC, Jim Cramer, gave his opinions on the cannabis industry. Cramer pointed investors to Canopy Growth (WEED) (CGC), the Canadian cannabis (HMMJ) giant, because of its backing from Constellation Brands as a result of the latter’s $4 billion investment.
Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) is the undisputed king of CBD. Why Aurora Cloud could send the stock soaring into the clouds.