|Bid||36.33 x 0|
|Ask||36.35 x 0|
|Day's Range||36.24 - 40.00|
|52 Week Range||6.58 - 44.00|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
With huge potential for growth, investors need to back up the truck on Shopify Inc. (TSX:SHOP)(NYSE:SHOP).
On May 22, Aurora Cannabis (ACB) (ACBFF) added yet another name to its long list of partnerships ahead of legalized cannabis in Canada. The company acquired a 9.1% ownership interest in CTT Pharmaceutical Holdings through a private placement. This deal further has a provision for Aurora Cannabis to increase its stake to 42.5% in CTT.
Canopy Growth Corp. (TSX:WEED) hasn't been impressed by some of the acquisitions that it's seen in the cannabis industry.
Canopy Growth Corp. (TSX:WEED) and Aurora Cannabis Inc. (TSX:ACB) stock have spiked in mid-May after some big announcements.
The Scotts Miracle-Gro Company (SMG) received a recent upgrade from a “buy” to a “hold” from SunTrust Robinson Humphrey. The firm also raised its price target to $100 from $80, saying that the stock will likely see an upside when the hydroponics business takes off on the back of increased cannabis use. The stock had terrible first and second quarter results, and the stock is now 19.5% lower YTD (year-to-date) as of May 16.
Last week, the cannabis sector was broadly positive with the ETF Horizons Marijuana Life Sciences ETF (HMMJ) rising ~4.3%, the Evolve Marijuana ETD (SEED) rising 3%, the ETFMG Alternative Harvest ETF (MJ) rising 1.3%, and the Emerging Marijuana Growers Index ETF (HMJR) rising 0.4% between the close on May 11 and the close on May 18. Over the same period, the TSE 300 Index gained about 1.1%, while the S&P 500 Index fell 0.5%. Let’s look at how some of the cannabis stocks performed last week.
Supreme Cannabis (SPRWF) was in the news two days ago for its appointment of Colin Moore to its board of directors. Moore was previously the president of Starbucks Canada and has held positions with big brands such as PepsiCo and KFC. The mean ratings for the company changed from 1.8 in April, which is similar to Aurora Cannabis (ACB) and Canopy Growth (WEED), which have seen more bullish ratings month-over-month.
Canopy Growth Corp. (TSX:WEED) and Aurora Cannabis Inc. (TSX:ACB) are two hot pot stocks. Here's why I'd short one, and go long the other.
Canopy Growth Corp. (TSX:WEED) looks to be the first cannabis company to list on the NYSE, and that could mean big things for its share price.
For a long time, Canopy Growth Corp. (TSX:WEED) has been the undisputed top dog in Canada’s burgeoning marijuana industry. But following some aggressive moves by rival Aurora Cannabis Inc. (TSX:ACB), is that still the case?
Aurora Cannabis Inc. (TSX:ACB) looks to be winning the arms race in the pot industry, but does that make the stock a winner?
Aphria Inc. says it has reached a deal that will see Southern Glazer's Wine & Spirits become its exclusive distributor of recreational cannabis products in Canada. The Leamington, Ont.-based cannabis producer says Southern Glazer's new Canadian subsidiary Great North Distributors, which will focus specifically on cannabis products, will represent the company when recreational use is legalized. Aphria says the deal with Southern Glazer's, one of North America's largest wine and spirits distributors, will give it coverage of all cannabis retailers across Canada on the first day of legal adult-use sales.
Cronos Group (CRON) reported its first-quarter earnings on May 15 with sales growth of almost 4.8x. Following the earnings release, the stock fell 5% on May 15 and fell another 3.4% on May 16 to 7.7 Canadian dollars. The company cut its recommendation to “sell” from “hold” but raised the price target to 6.5 Canadian dollars from 6 Canadian dollars.
On May 14, Aurora Cannabis (ACB) (ACBFF) announced that it agreed to acquire all of MedReleaf’s (MEDFF) outstanding common shares for about 3.2 billion Canadian dollars in one of the biggest deals in the cannabis sector (MJ). Following the news, MedReleaf stock was heavily traded with a volume of 3.3 million shares and closed at 25.3 Canadian dollars. Read MedReleaf Stock Rises on Aurora Cannabis Acquisition to learn more. Similar to Canopy Growth (WEED), the mean ratings for Aurora Cannabis also improved from 2.3 a month ago in April, which indicates that analysts were more bullish on the stock month-over-month.
With the anticipation of huge demand for cannabis, which translates into potential earnings growth, analysts are quite bullish on cannabis stocks in May. Most companies have seen increased bullishness over the last month, as we’ll discuss in this series. On May 15, Canopy Growth (WEED) stock was in the news again for its latest agreement to acquire Canopy Health Innovation and its subsidiary, Canopy Animal Health.
A new report released by independent Washington D.C data analytics firm New Frontier Data has favourably ...
Wine companies like Andrew Peller Ltd. (TSX:ADW.A) may be getting nervous as recreational legalization of cannabis approaches.
Today, Canopy Growth (WEED) stock surged more than 7% on news of its application to list its common shares on the NYSE (New York Stock Exchange). This news comes on the heels of Aurora Cannabis (ACB)(ACBFF) announcing its acquisition of MedReleaf (MEDFF) today. Read more in MedReleaf Stock Rises on Aurora Cannabis Acquisition.