Investors and analysts weren’t pleased with Acreage Holdings’ (OTCMKTS:ACRGF) results for the first quarter of 2020. The company posted another EBITDA loss.
In April, cannabis sales came in at $180.1 million—0.6% down from the March sales. So, considering the spike in March, the sales weren’t disappointing.
The spotlight is on marijuana legalization as the demand keeps surging. More states have stepped up to legalize either recreational or medical cannabis.
On Wednesday, HEXO announced a new at-the-market equity program, which would allow it to issue common shares worth up to 34.5 million Canadian dollars.
On June 11, Charlotte’s Web announced that it completed the acquisition of Abacus Health. The company’s performance wasn’t strong in the first quarter.
Since Canopy Growth (NYSE:CGC)(TSE:WEED) reported its results for the fourth quarter of fiscal 2020, it has lost 22.4% of its stock value as of Tuesday.
HEXO (TSE:HEXO) will likely report its third-quarter earnings before the market opens on June 11. So far, HEXO has lost 58.9% of its stock value this year.
On Monday, HEXO announced that it received a license amendment from Health Canada for its manufacturing and processing facility in Belleville, Ontario.
Since Aurora Cannabis reported its third-quarter earnings, Piper Sandler upgraded the stock from “underweight” to “neutral.” Analysts favor a “hold” rating.
Marijuana stocks are seeing a ray of hope amid the coronavirus pandemic. With self-quarantine and lockdowns in many cities, marijuana sales have risen.
On Thursday, WBRC reported that the Alabama Senate cleared Senate Bill 165. The bill will create the Compassion Act, which legalizes medical marijuana.
The Senate Judiciary Committee of Alabama cleared the bill that legalizes medical marijuana in the state. The committee voted 8-1 in favor of the proposed legislation.
AGLC will allow retail stores in Alberta to sell marijuana vape products. Consumers will likely be able to purchase cannabis vape products in the next two weeks.
On January 23, Statistics Canada announced that the average price of marijuana increased in the fourth quarter. The illegal marijuana price also increased.
As of Wednesday, Aphria (NYSE:APHA) was trading at a forward EV-to-sales multiple of 2.38x. The valuation multiple increased despite the lower stock price.
Acquisitions could boost Curaleaf’s production and retail footprint significantly. With the EBITDA expected to rise over the next two years, there’s significant upside.
Many people expected the Cannabis 2.0 products, including cannabis edibles, to hit the markets by mid-December 2019. However, the products got delayed.
So far, cannabis stocks have rebounded in 2020, which investors expected. The marijuana industry struggled in 2019. Overall, the rebound will take time.
On January 8, Aphria traded at 6.21 Canadian dollars. This represents zero returns since the company reported its Q1 of fiscal 2020 earnings on October 15.
In June 2019, Illinois legalized adult-use cannabis, becoming the 11th state to do so. It was the first state to legalize marijuana through the legislature.
Weakness in cannabis stocks continued today, the fourth day of decline. The US equity market fell today due to the growing tension between the US and Iran.
On the back of the weakness in the broader equity market, the cannabis sector traded in the red today. At 1:28 PM ET, the S&P 500 Index was down by 0.4%.
In the second half of 2018, the cannabis industry remained busy. As the cannabis sector experienced a boom, there was a lot of excitement among investors.
Yesterday, Illinois debuted the sale of adult-use cannabis. Green Thumb Industries announced that it opened its first adult-use cannabis store in the state.
Facing a cash crunch, MedMen entered into a definitive agreement with Gotham Green Partners for a $250 million senior secured convertible credit facility.
This year was tough for the cannabis sector, especially given that the S&P 500 was making new highs. The S&P 500 hit a new high of 3,247.93 on December 27.
As of December 24, Supreme Cannabis was trading at 0.66 Canadian dollars. The company has lost 50% of its stock value this year. Has its stock bottomed out?
Donald Trump has never openly supported marijuana legalization, and this month, Trump has shared some conflicting views on medical marijuana legalization.
Cannabis stocks had a difficult 2019. Besides cannabis companies losing out on revenue and profitability, many external factors also affected the sector. While pessimism drove the industry this year, a Raymond James analyst predicts things can turn around in 2020. Let’s take a look. Raymond James feels the cannabis sector could rebound On December 16, […]
After Canada legalized cannabis edibles in October, consumers hoped to buy these products this month. However, three provinces must wait until January.
Yesterday, Ontario’s government announced that it was scrapping its cap on the number of private retail cannabis stores and moving toward a new system.
Today, the cannabis sector was trading in the red, with multiple ETFs losing ground. Here, we’ll have a look at cannabis stocks that are in the news today.
Today, cannabis stocks are trading in the green despite the weakness in the broader market. The ETFMG Alternative Harvest ETF was up 2.5% as of 2:00 PM ET.
Cannabis is slowly picking up steam again, with more states are pushing to legalize. However, it appears the challenges never end in the marijuana sector.
The cannabis sector has seen a bit of a Jekyll and Hyde situation in 2019. In the first half, cannabis ETFs rose, but in the second half, they plummeted.
Marijuana is strictly prohibited in Virginia. All forms of marijuana are illegal in the state. Yet, recreational sales went live in Michigan on Sunday.
