|Bid||42.77 x 0|
|Ask||42.84 x 0|
|Day's Range||42.73 - 44.89|
|52 Week Range||19.05 - 76.68|
|Beta (3Y Monthly)||2.42|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||66.83|
The "Farm Bill is the first step to active" involvement in the U.S. by Canopy Growth, CEO Bruce Linton told CNBC Wednesday. The $867 billion bill, which was passed by the U.S. Senate on Tuesday, includes a provision for industrial hemp legalization. The legislation has been cited by numerous public cannabis companies as the catalyst to formally enter the American market, according to Cowen analyst Vivien Azer.
Jim Cramer, the widely followed host of Mad Money on CNBC, gave his opinion on the deal between Cronos Group (CRON) and Altria on December 11. Cramer called Altria’s acquisition of a 45% stake in Cronos Group last week a “smart move” for Altria. This trend brings some concern for the growth trajectory of companies such as Altria.
On December 11, New Zealand’s government made way for medical cannabis legalization. New Zealand already allowed a few patients to access medical cannabis. The new law makes medical cannabis widely accessible to more patients.
With damning allegations, rising short interest, and falling stock prices plaguing the industry, are cannabis stocks like Tilray Inc (NASDAQ:TLRY) doomed?
Investorideas.com, a leading investor news resource covering hemp and cannabis stocks, releases a snapshot looking at the growing opportunity for the CBD pet market and how companies that are positioned in the cannabis space are adding pet markets to their growing portfolios. According to the American Pet Products Association (APPA), $69.51 billion was spent on pets in the U.S in 2017 and it’s estimated that number will grow to $72.13 billion for 2018. Canadians spend $6.6 billion a year on their pets according to recent numbers.
Lightning strikes in the markets can come in the form of a partnership or investment from larger established companies. It's also a top way to find validation for mining companies. Ecuador is a hotbed of investment activity right now, and a few small juniors have found big validation from majors in the region.
Canopy Growth Corp. remains the best way to invest in the growing Canadian cannabis space, says CNBC's Jim Cramer. Canopy's advantage over its competitors is notable and enough to make it the worthier investment, Cramer says.
Here's why the ignored tender offer for Canopy Growth Corp's (TSX:WEED)(NYSE:CGC) debt could be bullish sign on the stock.
The new farm bill, which is expected to be voted on later this week, contained a lot of important changes. Senate Majority Leader Mitch McConnell championed the legislation for making industrial hemp legal in the United States. Legal hemp is proposed in the latest farm bill, which is expected to go to vote in the House this Wednesday, after which it is to go to the Senate.
Potential marijuana legalization in the United States could send Canopy Growth Corp (TSX:WEED)(NYSE:CGC) shares soaring, but it won't be an easy task to dominate the market.
Earlier in this series, we saw that cannabis stocks’ (SEED) forward EV-to-sales multiples were trading at an all-time low, which was confirmed by the EV-to-EBITDA multiple in the following chart.
CORAL GABLES, FL / ACCESSWIRE / December 11, 2018 / The North American marijuana industry is expected to see a near-term boom. A new report published by the firm shows the North America legal cannabis market value projected to reach around US$ 35 Billion by 2023, expanding at a CAGR of 27.1% during 2018-2023. The firm explains, "Nowadays, cannabis is gaining prominence in North America due to increasing acceptance of the drug for both recreational and medical uses.
Earlier in this series, we discussed how the average forward EV-to-sales multiple of nine Canadian cannabis (MJ) stocks were trading at an all-time low of 4.6x. Let’s look at each of the nine cannabis stocks that are part of the average multiple below.
With cannabis stocks (HMMJ) being on a rollercoaster ride over the past month, it’s time to look at how the valuations stack up and whether the stocks are still a good buy. A quick way to determine the valuations would be to look at the cannabis industry’s average valuation. In this series, we’ll discuss the industry average valuations.
On December 10, Aurora Cannabis (ACB) (ACBFF) was in the news for its intention to acquire Mexican-based Farmacias Magistrales. Farmacias Magistrales is the first Mexican entity to become a federally licensed importer, distributor, and producer of cannabis containing psychoactive properties, THC, in Mexico. As a result of the license, Farmacias Magistrales will be able to manufacture and store THC-based cannabis, which is usually used for recreational purposes.
Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot looking at the growing opportunity in the sector with the expected imminent passing of the US 2018 Farm Bill. Cabot Wealth said last week in an article, What the Farm Bill Means for Cannabis Stocks, “If the Farm Bill passes with hemp legalization intact, it could herald boom times for the CBD industry, with giant retail players like Walgreens and CVS and Walmart becoming the biggest retailers.
Canopy Growth Corp (TSX:WEED)(NYSE:CGC) continues to make strategic acquisitions in preparation for growth in the broader cannabis market. Is this the best time to buy the stock?
Since Constellation first announced its $4 billion investment in Canopy Growth, shares have fallen almost 15 percent, a good entry point, Azer says. The cannabis investment is "a strategic long-term investment that should pay dividends as the Canadian adult use market sorts itself out," she added.
Cronos Group Inc. (TSX:CRON)(NASDAQ:CRON) could easily double in price after its latest investment.
More big cannabis industry deals could be on the way. But which marijuana producers are the top candidates to partner with major companies outside of the industry?
CORAL GABLES, FL / ACCESSWIRE / December 10, 2018 / Marijuana stocks remain in the spotlight. CBD or cannabidiol is derived from the cannabis plant but has none of the psychotropic effects of THC. Four leading cannabis stocks to watch after this big development: Premier Health Group (PHGRF) (PHGI), New Age Beverages (NBEV), Aphria (APHA), and Canopy Growth (CGC) (WEED.TO).