|Bid||33.70 x 0|
|Ask||33.71 x 0|
|Day's Range||33.57 - 35.30|
|52 Week Range||8.15 - 48.72|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||40.80|
Private equity-backed Canadian medical marijuana company Tilray Inc (NasdaqGS:TLRY - News) rose more than 35 percent in its U.S. trading debut on Thursday after raising about $153 million in an initial public offering that was priced above the marketing range, indicating strong investor appetite. Shares of the company, the third Canadian cannabis firm to list on a major U.S. exchange, opened at $23.05, compared with the IPO price of $17 per share. The Nasdaq Composite Index (.IXIC) ended down 0.4 percent.
Tilray (TLRY), a medical cannabis producer in Canada, debuted on the NASDAQ today. The company’s IPO was priced at $17, but the stock popped to a high of $23.94, representing an almost 40% increase. The company raised $152 million through this IPO and intends to use the proceeds to pay down debt and expand its production facility.
Product development will be a key area of focus as cannabis companies plan capital investments. Two reasons behind the legalization of cannabis are the elimination of the illicit market and the consumer protection that comes from quality-controlled products. While cannabis products will be highly regulated, companies are working on and will continue to work on developing products that will entice non-users in the coming months.
In the second half of this year, much of cannabis companies’ efforts will go into organizing the logistics of the business. Companies will continue to make capital investments in capacity extension, value addition, marketing and distribution, and other areas. In the above chart, we’ve outlined four stages in the cannabis value chain.
As recently as last month, Italian cancer patients have been met with a supply shortage in the domestic ...
Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) and Aurora Cannabis Inc. (TSX:ACB) won't be able to use branding or promotions soon. If that happens, how will each firm differentiate themselves from the pack?
The cannabis sector has lost some of the attention it garnered at the beginning of this year. The sector has delivered losses with some stocks losing almost half their value since the beginning of this year. Those who invested in the sector as a whole through ETFs such as the Horizons Marijuana Life Sciences ETF (HMMJ) are also left with negative returns as of July 17.
Companies like Canopy Growth Corp (TSX:WEED)(NYSE:CGC) may benefit from marijuana legalization, but consumers and investors may suffer.
Canada's main stock index closed in the red as a drop in crude prices pushed energy stocks lower, while U.S. stocks were mixed.
These six stocks, including Canopy Growth Corp. (TSX:WEED)(NYSE:CGC), had big losses last week. But how long will the pain last?
Millennials on the hunt for growth should not necessarily turn their backs on Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) and other premier producers.
Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) made a big acquisition this week, but was it a good move for the company?
GATINEAU, QC, July 13, 2018 /CNW Telbec/ - LIVEWELL CANADA Inc. (TSXV:LVWL.V - News) announces the appointments of Peter Geimer as Vice President, Sales and Marketing and Jean Bernard as Vice President, Information Security and Technology. Peter Geimer is driven and results-oriented with more than 20 years of experience in the pharmaceutical, biomedical, and medical device sectors. Mr. Geimer is a well-respected leader who excels at coaching commercial teams and developing brands to attain market share leadership.
Stocks such as Aphria Inc. (TSX:APH), Aurora Cannabis Inc. (TSX:ACB), and Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) have had good runs, so sell half now and let the rest run.
California could be the biggest cannabis market in the world, and these three pot stocks are angling for their pieces of the pie.
Aurora Cannabis Inc. (TSX:ACB) may dethrone Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) when the green rush is over.
Canopy Growth Corp (TSX:WEED)(NYSE:CGC) and Aphria Inc (TSX:APH) have staked out positions in various parts of the world, and this country could be next on their list.
British Columbia’s Liquor Distribution Branch released its list of 31 suppliers that are to provide cannabis to the province for non-medical use. The notable companies that signed memoranda of understanding with the Liquor Distribution Branch to supply cannabis include Canopy Growth (CGC)(WEED), Aurora Cannabis (ACB)(ACBFF), MedReleaf (MEDFF), and Aphria (APHQF). Compared to other Canadian provinces that announced their lists of suppliers, British Columbia has one of the most diversified lists (HMMJ), which should give a wide range of diversity to the province.