Industry outlook

Early this morning, the overall cannabis sector got a boost from Cowen & Company for 2019. Cowen’s optimism was driven by the capital expenditures made to increase capacity output in 2018, which are expected to drive strong growth this year.

Cowen also provided an “outperform” rating on three cannabis stocks including Canopy Growth (WEED) (CGC), Tilray (TLRY), and KushCo Holdings. In the pre-market session, Tilray was trading nearly 1.5% higher, Canopy Growth was up 1.7%, and KushCo was up about 3.8%. Early this morning, Aurora Cannabis (ACB) also provided its guidance for the second quarter, and the stock was up 2.3% in the early market session.

Cowen’s bullish outlook also comes from the 6.7% increase in the revenue forecast for the US cannabis industry to $80 billion by 2030. Cowen also noted that weaker sales in the beer segment in 2018 and anemic cigarette growth suggest that cannabis (MJ) could be a catalyst for companies operating in these segments.

For more information, read our seven-part series The Latest from Aphria: Green Growth, Irwin Simon, and More.

Latest articles

President Trump tweeted about his plans to meet with Apple (AAPL) CEO Tim Cook. It's possible that they could discuss Apple’s US manufacturing plans.

WeWork is gearing up for an IPO. On Wednesday, the company made its IPO filing with the SEC public and expects to garner $3.5 billion from its IPO.

After FCC Chairman Ajit Pai recommended the approval of the T-Mobile–Sprint merger, Representative David Cicilline urged the FCC to allow public comment.

Cresco Labs (CRLBF) is set to report its Q2 earnings on August 21 after the market closes. The company's stock fell 5.3% yesterday.

Cannabis stocks mostly traded in positive territory today. Supreme Cannabis (FIRE) and Aurora Cannabis (ACB) rose about 9.5% and 5.5%, respectively.

NVIDIA (NVDA) stock soared 6% in today’s trading session as its Q2 earnings for fiscal 2020 beat estimates. However, its guidance missed estimates.