|Bid||31.81 x 0|
|Ask||31.85 x 0|
|Day's Range||31.81 - 34.15|
|52 Week Range||8.29 - 48.72|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||40.80|
A recent report highlights several key factors that make the cannabis market such an attractive demographic. Find out what it means for Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) and several others.
VANCOUVER , July 20, 2018 /CNW/ - INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA: 8IS1) is pleased to announce that it has entered into a binding ...
Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) appears overvalued relative to earnings, while energy stock Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) is trading at attractive valuations.
In the earlier part of this series, we briefly discussed how the number of cannabis-licensed producers has grown over the years, which has led to the threat of oversupply. Big companies such as Canopy Growth (CGC) (WEED) and Aurora Cannabis (ACB) (ACBFF) have access to capital and can thus push out smaller players. For example, Quebec will limit its supplier base to only six suppliers. If provinces choose fewer suppliers, it likely means they will choose big players (HMMJ) with the ability to meet a large demand, which pressures smaller players (HMJR).
Substantial gold and copper deposits in Ecuador are getting renewed attention as this formerly closed region sees a new government open to investment. One of the biggest gold wins of the last decade, Fruta Del Norte, was acquired for $1.2 billion and parent company's stock ran from $0.40 to $40.00. Lucky Minerals (LJ, LKMNF) is beginning exploration of a promising concession just 40km from Fruta Del Norte, and with similar geologic features.
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.
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?