|Bid||20.44 x 0|
|Ask||20.46 x 0|
|Day's Range||19.33 - 20.89|
|52 Week Range||5.96 - 20.89|
|Beta (3Y Monthly)||3.43|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||14.78|
Canada's main stock index fell on Monday in broad-based declines led by shares of material companies echoing a weaker tone on global stock markets after data showed economic growth in China for 2018 was ...
TORONTO, Jan. 18, 2019 /CNW/ - Cronos Group Inc. (NASDAQ:CRON - News) (TSX:CRON.TO - News) ("Cronos Group" or the "Company") is pleased to announce that the meeting materials for a special meeting of holders (the "Shareholders") of common shares of the Company (the "Common Shares") to be held on February 21, 2019 (the "Meeting"), including the management proxy circular dated December 31, 2018 (the "Circular"), prepared in connection with the proposed C$2.4 billion equity investment by Altria Group, Inc. (NYSE:MO - News) ("Altria") in Cronos Group (the "Investment") previously announced on December 7, 2018, have been mailed to Shareholders and filed with the relevant Canadian securities regulators.
The S&P/TSX Composite Index has gained 6.9 percent since the close of trading on Dec. 31, the largest increase over the first 18 days of the year since 1980, when the benchmark was up 8.5 percent, data compiled by Bloomberg show. The gain puts Canadian stocks in eighth place among developed-world markets, providing some relief to investors who lost almost 12 percent last year. The next strongest start to the year was in 1987 when the Canada’s key equity gauge gained 6.7 percent, just nine months before Black Monday sent markets tumbling.
* The Toronto Stock Exchange's S&P/TSX rose 92.61 points, or 0.61 percent, to 15,303.83. * Leading the index were Cronos Group Inc , up 8.7 percent, NFI Group Inc , up 7.8 percent, and Descartes Systems ...
Cannabis Stock Roundup: CGC, HEXO, TLRY, and MoreCanopy Growth gets CIBC coverageIn the morning trading session at around 11:00 AM ET today, Canopy Growth (WEED)(CGC) was off to a positive start with the stock rising nearly 3.7%. The stock was
HEXO Gets Approval to Be Listed on the NYSE AmericanHEXO On January 17, HEXO (HEXO) announced that it received approval to be listed on the NYSE (New York Stock Exchange) American. The stock will start trading under the ticker “HEXO” on January
CORAL GABLES, FL / ACCESSWIRE / January 17,2019 / Marijuana stocks have become one of the hottest topics in the news over the course of the past few years. With the new year in full swing, Leafbuyer Technologies Inc (LBUY), Cronos Group Inc (CRON) (CRON), GW Pharmaceuticals plc (GWPH), and Charlotte's Web Holdings Inc (CWBHF) re 4 pot stocks that could make moves on Thursday. Leafbuyer Technologies Inc (LBUY) is a company worth looking into given that the Company's online platform is the most comprehensive source for cannabis deals and specials, commonly referred to as the "Priceline of Pot," by several sources well-versed in the industry.
Mid-Day Movers in the Cannabis Sector: CGC, TLRY, ACB, and MoreMid-day moversAround mid-day today, the major cannabis stocks were broadly positive. The Horizons Marijuana Life Sciences ETF (HMMJ) was up almost 1% around noon. Let’s look at how
Newly Appointed US AG Bill Barr to Leave Cannabis Companies AloneWilliam Barr on marijuana companiesAt the end of last year, when US Attorney General Jeff Sessions resigned from his position, we predicted that this development could bring some
Key Takeaways from Aphria's Second-Quarter Earnings(Continued from Prior Part)Shortage of cannabisSince recreational cannabis became legal in Canada, the demand has outpaced supply, which has led to a shortage in the market. During its earnings
Tilray stock tumbled as its IPO lockup expired. William Barr, attorney general nominee, said he would not "go after" marijuana companies operating in states where it is legal.
CORAL GABLES, FL / ACCESSWIRE / January 15,2019 / Marijuana stocks have had quite a solid week during the beginning of January. American Premium Water Corporation (HIPH), GW Pharmaceuticals plc (GWPH), Cronos Group Inc (CRON) (CRON), and Charlotte's Web Holdings Inc (CWBHF) are 4 pot stocks that are bringing the heat. American Premium Water Corporation (HIPH) is a company you may not have heardof, but could benefit from taking a look at.
Tilray Tanks, but Canopy Growth and Aurora Hold Their GainsTilray tanksToday, Tilray (TLRY) has tanked nearly 10.1% to $90 as of 11:45 AM EST. The stock has apparently been affected by an IPO lockup expiry, which essentially opens the door for early
Key Takeaways from Aphria's Second-Quarter Earnings(Continued from Prior Part)Criticism from short-sellersLately, Aphria (APHA) has been under fire from short sellers due to its acquisitions in international markets. Short sellers
Key Takeaways from Aphria's Second-Quarter Earnings(Continued from Prior Part)Key executives step downDuring Aphria’s (APHA) earnings call, the big headlines were that CEO Vic Neufeld and co-founder Cole Cacciavillani will be transitioning out
Why Senator Schumer Is Pleased with Canopy GrowthHemp licenseOn January 14, Canopy Growth (CGC) (WEED) announced a major win in the US market after receiving a license in the State of New York to run hemp operations. In its press release, Canopy
Canopy Growth said it now has a license to produce hemp on an industrial scale in New York state. The marijuana stock jumped.
Canopy Growth Gets License to Operate in New YorkLicense in New York Canopy Growth (WEED)(CGC) reported that it received a licence in the State of New York to run hemp operations. The company added that it received the license based on its expertise in hemp-related products and that the licence will help it establish commercial operations in the
CORAL GABLES, FL / ACCESSWIRE / January 14, 2019 / Marijuana stocks have had quite a solid week during the beginning of January. American Premium Water Corporation (HIPH), Isodiol International Inc (ISOLF), Cronos Group Inc (CRON) (CRON), and KushCo Holdings Inc (KSHB) are 4 pot stocks that are bringing the heat. American Premium Water Corporation (HIPH) is a company you may not have heard of, but could benefit from taking a look at.
Aphria Sells Cannabis Cheaper than StatsCan's Reported Averages ## StatsCan report On January 9, StatsCan reported its latest findings for the recreational cannabis market after legalization. StatsCan reported that the average price recreational users paid after legalization in Canada was nearly 8.02 Canadian dollars per gram. However, this data was from a sample of about 385 submissions received by StatsCan. A more accurate place to look for pricing for recreational cannabis could be from companies such as Aphria (APHA), Canopy Growth (WEED), CannTrust (CNTTF), and Tilray (TLRY) themselves. ## Average selling price In the above chart, we see three average prices. The first one is the most recent national average price paid for recreational cannabis. The second one shows the average selling price of 6.3 Canadian dollars including excise tax for Aphria’s adult use cannabis during the second quarter. The third price is the average medical and wholesale price of 7.5 Canadian dollars including excise tax for Aphria’s medical and wholesale product. Clearly, the average selling prices for both adult use and medical cannabis was far lower than what StatsCan reported for its national averages. It is important to sell legalized cannabis at the right price for both the government and companies (HMMJ) including Canopy Growth (WEED), Cronos (CRON), and Tilray (TLRY), as one of the key reasons cited for legalizing cannabis was to eliminate the illicit market. According to the same StatsCan report, the prices in the illicit market prior to the legalization of recreational cannabis averaged 6.83 Canadian dollars.
Is Tilray Back in Action for Day Traders? ## Tilray rose On January 11, Tilray (TLRY) rose almost 19% and closed at $96. Tilray had its best day in 2019 after it fluctuated in 2018. Tilray became one of the hot stocks for day traders and other investors looking to make a quick buck in September when the stock reached a peak of almost $300. In the rest of 2018, Tilray lost its sheen. The stock fell as low as $65 towards the end of 2018. So, what boosted Tilray on January 11? ## Why did Tilray increase? Tilray got a boost from one of its biggest shareholders, whose lock-up period is coming to an end this week. The shareholder indicated that it intends to hold Tilray even after the lock-up period expires. According to a Bloomberg report, Privateer Holdings held nearly 76% of Tilray’s shares. A sale from Privateer Holdings would add as many as 76 million shares to the company’s float. Privateer Holdings doesn’t intend to sell its shares. The company supports Tilray’s global growth strategy. Currently, Tilray has a float of nearly ten million shares, which is significantly low compared to its peers (HMMJ). Aurora Cannabis (ACB) has 929 million shares, Canopy Growth (WEED) has 49 million shares, and Cronos Group (CRON) has 156 million shares. With little hope from Privateer Holdings regarding more shares available for trading, the company might continue to see wide swings in the price, which makes it appealing to day traders. However, Privateer Holdings doesn’t intend to sell Tilray’s share in the first half of 2019. When Privateer Holdings decides to sell Tilray’s share, it will happen in an orderly manner. For ongoing updates, visit Market Realist’s Healthcare page.
Cannabis Stocks: CGC, TLRY, CRON, and Others Last Week ## Major cannabis stocks For the week ending January 11, most of the major cannabis stocks ended in the positive territory. The Horizons Marijuana Life Sciences ETF (HMMJ) gained nearly 17.5% between the closing on January 4 and the closing on January 11. ## Gainers Tilray (TLRY) emerged as the biggest gainer last week. Tilray rose nearly 37% after a private equity company stated that it will keep its investments in the company through the second half of 2019. Canopy Growth (WEED) (CGC) rose 36% last week. Canopy Growth got a boost after Constellation Brands provided some visibility on its earnings within the next 18 months. Canopy Growth received coverage initiation from two major investment firms. Aurora Cannabis (ACB) gained nearly 21% last week, while Cronos Group (CRON) rose 16% between the weeks ending January 4 and January 11. Aphria (APHA), which reported its earnings last week, rose 13.8%. Supreme Cannabis (SPRWF) gained nearly 12.7%, while CannTrust (CNTTF) gained nearly 13.8%. OrganiGram (OGRMF) was also among the top gainers last week with a 10% gain. Emerald Health (EMHTF) was the only stock in the above chart that ended in the negative territory with a weekly decline of 1.3%. To learn more about the cannabis sector, read Why Green Growth Stock Rose Yesterday, Jim Cramer Made His Pick in the Cannabis Industry, and Canopy Growth: Notes from Constellation Brands’ Earnings.
Repeat performances could be in store for these big marijuana winners from last year.
Will 2019 Be a Better Year for MedMen Enterprises? (Continued from Prior Part) ## Analysts’ recommendations Of the six analysts that cover MedMen Enterprises (MMEN) (MMNFF), all are favoring “buys” on its stock. On average, analysts have given MMEN a price target of 8.18 Canadian dollars, which represents a potential upside of 92.9% from its current price of 4.24 Canadian dollars. On December 10, Canaccord Genuity lowered its price target from 7.50 Canadian dollars to 7.00 Canadian dollars. ## Peer comparison Of the 11 analysts that track Canopy Growth (CGC) (WEED), 81.8% have given it “buys,” 9.1% have given it “holds,” and 9.1% have given it “sells.” On average, analysts have a price target of 64.43 Canadian dollars on the stock, which represents a potential upside of 29.3% from its current price of 49.82 Canadian dollars. Of the five analysts that cover Cronos Group (CRON), four analysts have given it “buy” ratings, while one has given it a “hold” rating. On average, analysts have a price target of 19.60 Canadian dollars on the stock, which represents a potential upside of 13.3% from its current price of 17.30 Canadian dollars. Of the five analysts that cover Aurora Cannabis (ACB), four have given it “buy” ratings, while one has given it a “hold” rating. On average, analysts have a price target of 11.80 Canadian dollars on the stock, which represents a potential upside of 49.8% from its current price of 7.88 Canadian dollars. ## Valuation multiples Because MedMen Enterprises is still in the growth phase of the business life cycle, its expenses will be on the high side, and we can’t consider its EPS for valuation purposes. We’ve opted instead to consider its forward EV-to-sales (enterprise value-to-sales) multiple. As of January 10, MedMen was trading at a forward EV-to-sales multiple of 4.42x. On the same day, its peers Canopy Growth, Cronos Group, and Aurora Cannabis were trading at forward EV-to-sales multiples of 26.9x, 22.5x, and 12.5x, respectively. Browse this series on Market Realist: * Part 1 - Will 2019 Be a Better Year for MedMen Enterprises? * Part 2 - Analysts Expect MedMen’s Revenue to Rise in 2019 and 2020