Cannabis Stocks

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Bloomberg2 days ago
IPO Market in General Is Quite Sensitive, Says EY’s Choi
Jul.15 -- Ringo Choi, IPO leader at EY Asia Pacific, discusses the IPO market in Asia, how the listing failure of AB InBev will impact future offerings and Alibaba’s upcoming IPO. He speaks on “Bloomberg Markets: China Open.”
Yahoo Finance14 hours ago
Why hard seltzer sales continue to surge in America
Cheers to surging hard seltzer sales.
Financial Times3 hours ago
How the Fed chairman could give the world’s largest brewer a helping hand
FT premium subscribers can click here to receive Due Diligence every day by email. One thing to start: on Friday next week our friends at FT Alphaville are putting on what they say is an ‘experimental theatrical journalism experience’ in London. Pamela Anderson has helped to promote the event.
Financial Times4 hours ago
AB InBev’s deal machine on hold after Asia IPO flop
For Anheuser-Busch InBev’s deal-hungry chief executive Carlos Brito, the initial public offering of its Asian business held out a beguiling prospect. The almost $10bn that the world’s biggest brewer hoped to raise would help foot some of the bill for a decade-long acquisition spree.
Motley Fool6 hours ago
Here's Why Anheuser-Busch InBev Yanked 2019's Largest IPO
The market just didn't agree with the valuation the giant brewer tried to put on its Asia Pacific unit, Budweiser Brewing Company APAC.
Zacks9 hours ago
Cronos Group (CRON) Gains As Market Dips: What You Should Know
Cronos Group (CRON) closed at $14.99 in the latest trading session, marking a +0.33% move from the prior day.
Zacks11 hours ago
Can We Find The Right Stock Using Our Newly Found Insight?
Can We Find The Right Stock Using Our Newly Found Insight?
Zacks15 hours ago
Should You Buy a Cannabis ETF?
There are now 3 pot ETFs with several more to launch soon. Is this a good way for investors to get exposure to the cannabis industry?
Zacks18 hours ago
Should Value Investors Buy AbbVie (ABBV) Stock?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Zacks18 hours ago
AbbVie (ABBV) Upgraded to Buy: Here's What You Should Know
AbbVie (ABBV) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Zacks18 hours ago
AbbVie (ABBV) is an Incredible Growth Stock: 3 Reasons Why
AbbVie (ABBV) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Motley Fool19 hours ago
3 Puny Pot Stocks That Can Grow a Whole Lot of Weed
All three of these smaller marijuana stocks is capable of at least 300,000 kilos of annual cannabis output.
Motley Fool20 hours ago
Canopy Growth Just Confirmed What We've Long Suspected
Canopy CFO Mike Lee dishes on growth expectations for fiscal 2020.
Zacks2 days ago
Altria (MO) Stock Moves -0.26%: What You Should Know
Altria (MO) closed the most recent trading day at $49.41, moving -0.26% from the previous trading session.
Zacks2 days ago
Canopy Growth Corporation (CGC) Gains As Market Dips: What You Should Know
In the latest trading session, Canopy Growth Corporation (CGC) closed at $35.56, marking a +1.11% move from the previous day.
Motley Fool2 days ago
The Highest-Yielding Dividend Stock in Marijuana
This increasingly cannabis-focused company currently yields 6.5%.
Motley Fool2 days ago
3 Top Dividend Stocks With Yields Over 5%
Just because AT&T, Shell, and Altria have high yields doesn't necessarily make them high risk.
Zacks2 days ago
AbbVie (ABBV) Acquires Mavupharma to Boost Cancer Portfolio
AbbVie (ABBV) buys Mavupharma to develop novel treatments for cancer using the latter's STING signaling pathway.
Zacks2 days ago
J&J (JNJ) Beats on Q2 Earnings, Ups 2019 Sales Growth View
J&J (JNJ) beats estimates for both earnings and sales in the second quarter of 2019 and raises 2019 guidance for operational sales growth for the second time this year.
Zacks2 days ago
Implied Volatility Surging for Canopy Growth (CGC) Stock Options
Investors need to pay close attention to Canopy Growth (CGC) stock based on the movements in the options market lately.
Market Realist2 days ago
Cannabis Outlook From OrganiGram’s Earnings Report
On Monday, OrganiGram (OGI) reported its third-quarter earnings. Following the company's earnings, we reported how it performed in the third quarter. To learn more, read OrganiGram’s Third-Quarter Earnings. Interestingly, OrganiGram stressed that the growth would be heavily driven by retail stores opening in Ontario and Quebec. The company stated that legalizing edibles and derivative products […]
Motley Fool2 days ago
7 Reasons Aurora, Canopy, Cronos, and HEXO Are All At or Near 6-Month Lows
The buzz is beginning to wear off for the most popular cannabis stocks.
Bloomberg2 days ago
Organigram a Canadian Pot Rarity After Four Profitable Quarters
(Bloomberg) -- With four quarters of profitability under its belt, Organigram Holdings Inc. is an anomaly in the Canadian cannabis market.Organigram has higher margins than most of its peers and one of the lowest costs per gram in the industry even though it grows indoors, generally considered the most expensive method of production. Chief Executive Officer Greg Engel attributes this to its ability to get higher yields from its pot plants than companies that grow in greenhouses, as well as its automated packaging lines.“We built a facility and designed a facility that was very focused on high-quality product because we felt there was a market opportunity that was sustainable,” Engel said in an interview at Bloomberg’s Toronto office.Organigram’s streak of profitability comes as the industry undergoes a period of significant upheaval. CannTrust Holdings Inc., previously considered one of the more reputable pot companies, plunged 48% last week after Canadian regulators said it grew cannabis in unlicensed areas of its greenhouse, forcing it to halt all sales and shipments of its products.That came less than a week after Canopy Growth Corp. fired co-CEO Bruce Linton amid shrinking margins and a C$323 million net loss in its most recent quarter.Lower ValuationMoncton, New Brunswick-based Organigram, meanwhile, reported its fourth consecutive quarter on Monday of positive adjusted earnings before interest, taxes, depreciation and amortization, or Ebitda. Revenue of C$25 million ($19 million) missed estimates and gross margin fell to 50% from 60% in the previous quarter, but Eight Capital analyst Graeme Kreindler said he views this as an “isolated event” related to a temporary change in cultivation protocols and the timing of shipments to provinces.Organigram said it cost 95 cents to produce a gram of dried flower in its most recent quarter. That was up from 65 cents in the previous quarter but still compares favorably with C$1.42 at Aurora Cannabis Inc. and $1.48 at Tilray Inc.No other large Canadian pot producer has managed to post such a long string of positive Ebitda. However, although it’s one of the best-performing pure-play pot stocks this year, up 64%, its valuation as measured by its price-to-sales ratio is well below those of its largest competitors.Engel is unperturbed. “At the end of the day, the worst thing that can happen to a company is you’ve got an artificial stock price that you can’t sustain,” Engel said.Competitors also spend a lot on stock promotion, he said. This “may in the short term be helping their stock price, but I’m not sure that’s sustainable without ongoing spending,” he said.The problems at CannTrust and Canopy signal a shakeout in an industry that’s still maturing nine months after Canada legalized recreational pot. Organigram is lucky because it had its wake-up call early, said Engel.The company had to recall several lots of its medical pot in late 2016 and early 2017 after it was found to contain an unapproved pesticide. Engel, who was CEO of Tilray Inc. at the time, was hired after the recall to “make a major cultural shift,” he said.“As a result of that recall, we had monthly ongoing inspections by regulators, and historically the industry was always complaining or defensive about the inspections,” Engel said. “My approach was to embrace them. At the end of the day it’s a partnership, not an adversarial relationship.”In the interview, Engel shared his views of the nascent industry:Beverages and EdiblesOrganigram isn’t being coy about its desire for a partner that can help it develop cannabis-infused beverages, similar to Constellation Brands Inc.’s investment in Canopy, Tilray’s partnership with Anheuser-Busch InBev SA or Hexo Corp.’s joint venture with Molson Coors Brewing Co.Organigram has developed a rapid-onset technology that will allow its drinks to take effect within 10 to 15 minutes, similar to alcohol, and has also created a flavorless cannabis powder that can be added to any beverage.“We wanted to go to these negotiations offering as much as possible,” Engel said. Organigram is seeking a partner from the alcohol industry that can help it develop beverages infused with THC, the cannabis compound that gets you high. It’s also seeking a consumer packaged goods partner for drinks infused with CBD, a non-intoxicating substance that’s thought to have health and wellness properties.BiosyntheticsEngel hopes Organigram’s investment in Montreal-based Hyasynth Biologicals Inc. will also help it lure a partner. Hyasynth is developing large-scale biosynthetic production of cannabinoids, or the active compounds found in cannabis. This method, which uses yeast to produce the compounds in a lab, is cheaper than extracting them from plants and will help lower production costs for products like beverages, edibles and vape pens, said Engel.U.S. Market“We’re very actively looking at the CBD market in the U.S.,” where the substance is legal at the federal level as long as it’s derived from hemp with very low THC content, Engel said. Organigram doesn’t plan to grow its own hemp but is looking at a range of possibilities, including investments in existing brands, products and companies.Corporate GovernanceOrganigram has a fully independent board of directors, a rarity in the cannabis sector. The CEO sees good corporate governance as essential to a well-run pot company.“This is an industry that’s still very much moving from founders and executives being chairmen or multiple insiders on boards, and I think some of the challenges we’ve seen in the industry have been because of a lack of governance,” he said. “You have to have independent governance that has oversight and holds management accountable.”To contact the reporter on this story: Kristine Owram in Toronto at kowram@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Zacks3 days ago
Here's Why AB InBev (BUD) Withdraws $9.8B IPO in Hong Kong
AB InBev (BUD) withdraws the planned $9.8-billion IPO for its Budweiser unit in Asia, which would have been the world's biggest IPO for 2019 after Uber's $8.1-billion offering.