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Following Altria’s news, Cronos Group (CRON) received target price upgrades from notable investment management companies. On average, four companies (MJ) upgraded Cronos Group’s target price by nearly 70%.
In the last three days, Cronos Group (CRON) generated optimism in the cannabis industry (HMMJ). The market was wary about Aphria (APHA). Cronos Group’s optimism was fueled by Altria’s stake in the company.
On December 12, Mississauga and Markham voted against opening private cannabis retail stores for now. The Mississauga city council voted 10-2 against allowing private cannabis retail stores to operate in the city. The Markham city council voted 12-1 against opening private cannabis retail stores.
Around 1:05 PM EST, the stock posted a daily high near 14.80 Canadian dollars, up 11.7% from the previous day’s closing price. Today’s sharp recovery comes as a relief for Green Thumb investors (MJ) since the stock had lost about 40.9% in the fourth quarter as of yesterday. Constellation Brands (STZ), Scotts Miracle-Gro (SMG), and Molson Coors Brewing (TAP) are down 12.5%, down 16.0%, and up 1.7% quarter-to-date, respectively.
Ryan McQueeney discusses President Trump's latest comments on the trade war and the impending vote of confidence facing U.K. Prime Minister Theresa May. He also recaps earnings results from the retail sector. Later, he highlights three cannabis stocks to watch as the farm bill passes.
The nation’s largest pension has mostly divested itself of tobacco and related stocks, but “Calpers” recently bought Tilray stock.
This marijuana stock's performance over the next few years will likely heavily hinge upon sales of the newly launched epilepsy drug Epidiolex.
Highlighted as Zacks Bull and Bear of the Day AeroVironment, Beacon Roofing Supply, Canopy Growth and Constellation
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.
In the previous part, we discussed that nine major cannabis stocks’ (HMMJ) forward EV-to-EBITDA multiples declined nearly 26% on average to 14.9x month-over-month.
AbbVie (ABBV) reported global HCV (hepatitis C) franchise sales worth $862 million in the third quarter, a YoY (year-over-year) rise of more than 100% on both an operational and a reported basis. The company reported HCV sales of $444 million in the US market, a YoY rise of more than 100%. AbbVie also reported HCV sales of $418 million in international markets in the third quarter, YoY rises of 94.5% on a reported basis and 95.6% on an operational basis.
Shares of Canopy Growth (CGC) were up more than 6% in late afternoon trading Tuesday, as investors expressed optimism about the Senate's hemp legalization bill and management's comments about interest from institutional investors.
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.
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.
Daryl C. Wilson has been the CEO of Hydrogenics Corporation (NASDAQ:HYGS) since 2006. This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of Read More...
Bristol-Myers (BMY) enters into a collaboration agreement with Vedanta Biosciences to study Opdivo clubbed with the latter's VE800 for treating patients with advanced or metastatic cancers.
AbbVie (ABBV) reported global Venclexta sales worth $96 million in the third quarter, a YoY (year-over-year) rise of more than 100% on both an operational and a reported basis. As per the company’s third-quarter earnings conference call, this performance was mainly attributable to the FDA’s approval of the drug in a broader R/R (relapsed/refractory) CLL (chronic lymphocytic leukemia) indication. The company reported Venclexta sales worth $69 million in the US market, a YoY rise of more than 100%.
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.