ETFMG Alternative Harvest ETF

The short interest position on a stock is one quick way to gauge the bullish and bearish sentiment on a stock.

The popularity of various cannabis consumption methods could guide the product landscape design for cannabis companies.

The Scotts Miracle-Gro Company (SMG) continues to face margin headwinds in the lawn and garden segment.

Canopy Growth (WEED) (CGC) is expected to report a loss per share of ~0.15 Canadian dollars.

MedMen (MMNFF) has entered into agreements with different companies to expand its footprint. We outline a few of the recent agreements below.

Tilray’s (TLRY) average selling prices and sales volume improved YoY in the second quarter. The company sold 1,514 kilograms during the quarter.

Jim Cramer said Altria’s acquisition of a 45% stake in Cronos Group last week was a “smart move” for Altria.

Due to Aphria’s (APHA) (APHQF) broad sell-off, several investors lost their investments. The investments might not be recovered.

Constellation Brands said that Canopy Growth is a platform that can cater to medical and recreational customers.

Through Cronos Group’s partnership with Ginko Bioworks, the company aims to produce cannabis through fermentation.

On March 12, Innovative Industrial Properties’ board declared its first-quarter dividend. The company declared a dividend of $0.45 per share.

Analysts expect Aurora Cannabis to report a gross income of 177 million Canadian dollars in 2019 and 508 million Canadian dollars in 2020.

Cronos Group (CRON) has been on a declining trend for a while. The stock rose to a peak of ~30 Canadian dollars in February.

Aurora Cannabis (ACB) reported its Q2 earnings yesterday, which gave us a glimpse of recreational cannabis sales activity and what to expect from peers’ (MJ) upcoming earnings.

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.

Cannabis stocks have recently experienced weakness amid concerns surrounding a global slowdown and companies missing their earnings expectations.

The Day reported that New York, New Jersey, Connecticut, and Pennsylvania’s governors met and agreed on basic guidelines for legalizing marijuana.

The first half of April 11 proved to be yet another dampener for cannabis investors’ expectations.

Tilray (TLRY), which reported its earnings on November 13, missed both top-line and bottom-line consensus estimates.

The broader cannabis sector has traded largely in the negative so far on April 8 as investors have continued to be bearish.

In this part of our cannabis valuation series, we’ll discuss the multiples of the remaining cannabis stocks and compare them to the peer (MJ) median of 24x.

Today, iAnthus Capital Holdings (ITHUF) announced it will open its first dispensary in Florida on December 19.

Jeffrey Gundlach predicted bitcoin’s (BTC) crash after the cryptocurrency’s peak in December 2017.

Many people expected the Cannabis 2.0 products, including cannabis edibles, to hit the markets by mid-December 2019. However, the products got delayed.

The cannabis sector has been trading broadly flat ahead of the first-quarter earnings season.

Senator Kamala Harris, who also announced her 2020 presidential bid, supports legalizing marijuana at a federal level.

On March 13, during the first half of the day, the overall cannabis sector traded higher.

The cannabis sector has continued to struggle on the last day of April, and it may very well end up in negative territory.

The broader US markets were relatively flat today. Weakness in the cannabis sector continued, with the ETFMG Alternative Harvest ETF down 0.4%.

On December 26, a Santa Claus rally seems to be in full swing. This effect pushed the S&P 500 (SPX) and Nasdaq Composite Index (COMP) to record highs.

Between March 29 and April 5, HMMJ and MJ rose 0.9% and 0.4%, respectively.

Last week, the overall cannabis sector remained subdued. Sector ETFs, such as the Horizons Marijuana Life Sciences ETF (HMMJ), closed about 8.15% lower.

On December 27, Aphria came in play after Green Growth Brands announced its bid to take over the company for 11 Canadian dollars per share.

Despite the surge in May, Canopy Growth is still trading at a 54.3% discount from its 52-week high of $59.74. So, should you buy the stock?

Medical cannabis company Vireo Health International announced that it appointed Bruce Linton as its Executive Chairman. Linton co-founded Canopy Growth.

Most of the major cannabis stocks are in the red on a year-to-date basis.

On November 16, Curaleaf Holdings announced that the company opened Tallahassee’s largest medical marijuana dispensary.

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.

Cresco Labs (CRLBF) is slated to release its first-quarter earnings on May 29.

On December 9, Canopy Growth (CGC) appointed David Klein as its new CEO effective January 14. He’s the current CFO of Constellation Brands.

The cannabis industry has seen a surge in producers seeking to gain a piece of the Canadian recreational cannabis market (MJ).

Today, Aurora Cannabis (ACB) noted that while it doesn’t have a confirmed deal with Coca-Cola, it doesn’t reject the Coca-Cola development.

Not all of the cannabis companies experienced a loss on April 2. Tilray (TLRY) rose ~1.6% around the middle of the day.

Cannabis ETFs traded on a largely negative note last week.

A look at Curaleaf Curaleaf Holdings (LDVTF) is one of the leading cannabis operators in the United States. Curaleaf Holdings has announced that it will release its third-quarter earnings results on November 26. We’ll discuss analysts’ estimates for its EPS and revenue in this article. The chart above compares Curaleaf Holdings’ revenues since the third […]

The cannabis space was mostly positive last week. The Horizons Marijuana Life Sciences ETF (HMMJ) and the ETFMG Alternate Harvest ETF (MJ) gained 5.2% and 4.2%, respectively.

Last week, Innovative Industrial Properties (IIPR) offered $125 million in senior notes, giving initial investors the option to exercise $18.75 million in additional principal amount notes.

Aurora Cannabis (ACB) is going through a rough patch. This year, the company’s stock has lost 60.9% of its value as of December 23.

As market analysts increasingly predict an upcoming global recession, we take a look at the impact of a recession on cannabis stocks.

The FDA has issued warning letters to 15 companies involved in illegal sales of non-psychoactive CBD products. What’s the legal market’s potential?

The cannabis sector showed some weakness last week, and the Horizons Marijuana Life Sciences ETF (HMMJ) lost 3.0% while the ETFMG Alternate Harvest ETF (MJ) lost 3.4%.

With more countries now warming up to cannabis, let’s look at how Mexico is shaping up in terms of cannabis legalization.

As the cannabis space has increasingly become crowded, companies such as Cronos Group would greatly benefit from a company such as Altria.

Supreme Cannabis has been one of the worst performers in the cannabis sector year-to-date with a return of -49% as of December 19.

In the previous part of this series, we saw that most cannabis stocks (MJ) were trending lower today, but there were some gains as well.

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.

On October 8, Piper Jaffray senior analyst Michael Lavery voiced his opinions about the impact of vaping on cannabis stocks in an interview.

On December 31, 2019, Origin House (OH) announced that its shareholders had approved Cresco Labs’ (CRLBF) acquisition plan.

Cannabis sector Overall, the cannabis sector broadly ended in the positive territory for the week ending March 1—compared to the closing on February 22. The Horizons Marijuana Life Sciences ETF (HMMJ) rose nearly 4.6%, while the ETFMG Alternative Harvest ETF (MJ) rose ~1.6%. Let’s look at how some of the major cannabis stocks performed last week. […]

On May 2, the overall sentiment surrounding the cannabis sector appeared to be negative.

GW Pharmaceuticals has received a “strong buy” rating from four analysts, while eight have rated it as a “buy” or some equivalent.

On Monday, OrganiGram Holdings (NASDAQ:OGI) announced that it received a license from Health Canada to expand its Phase 5.

Aurora Cannabis (ACB) was trading at a multiple of 26.4x, which declined from 34x in October.

On Friday, Canopy Growth will report its third-quarter earnings before the market opens. Investors will be watching the results closely.

On November 7, US Attorney General Jeff Sessions resigned from his position.

Today, OrganiGram Holdings (NASDAQ:OGI) reported its third-quarter earnings. As expected, the results were disappointing.

As the demand for Cannabis 2.0 products continues to rise, Aurora Cannabis announced the appointment of Miguel Martin as its new chief commercial officer.

Curaleaf Holdings (OTCMKTS:CURLF) continued its expansion by completing the acquisition of Curaleaf NJ, which owns a medical license in New Jersey.

Today, HEXO announced that it launched its medical marijuana products in Israel. The company signed a two-year agreement with an Israeli cannabis company.

Analysts expect Aphria to report revenues of $631.8 million in the next four quarters. Management will focus on the medical and recreational sectors.

OrganiGram will likely report its third-quarter earnings before the market opens on July 21. Overall, there isn’t much hope.

Aphria (NYSE:APHA) received a bullish call from Stifel. On Monday, Stifel upgraded the stock from a “hold” to a “buy” rating.

Curaleaf (OTCMKTS:CURLF) acquired a “Select” brand in February 2020. The company received positive feedback in medical and adult-use markets.

On Monday, Cantech Letter reported that Raymond James downgraded OrganiGram from an “outperform” rating to a “market perform” rating.

On June 27, Green Thumb Industries (OTCMKTS:GTBIF) opened its fifth Essence brand store in Las Vegas and its 48th retail store in the US.

In the fourth quarter, Canopy Growth (NYSE:CGC)(TSE:WEED) lost market share due to increased competition in value products.

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 Virginia Board of Pharmacy voted not to extend MedMen’s conditional license to operate a medical marijuana dispensary in Staunton, Virginia.

Tilray hasn’t reported a positive EBITDA yet. Analysts expect the company to become profitable in the first quarter of 2021.

Amid the growing support for cannabis legalization, Canopy Growth (NYSE:CGC) CEO David Klein expects the federal government to legalize marijuana by 2022.

After underperforming the broader equity markets in the first quarter, the cannabis sector has been showing a strong recovery in the second quarter.

On Monday, Curaleaf Holdings announced that it will expand its Select brand products in Connecticut. The products will be available at medical dispensaries.

Canada, with first-mover advantage, has been exploring new territories to export its cannabis oil. Last year, the company reported to 17 counties.

Innovative Industrial Properties has continued its aggressive expansion. IIPR acquired a new property in Pennsylvania from Holistic Industries.

Illinois sold recreational cannabis worth $44.3 million in May—the highest amount since it legalized recreational sales in January this year.

On Monday, Vireo Health announced that it terminated Bruce Linton as its executive chairman immediately. He joined the company in November 2019.

The budget proposed by Governor Gavin Newsom projected a decline in California’s cannabis sales. COVID-19 induced a recession in the US economy.

On May 26, Tilray (NASDAQ:TLRY) announced that it will permanently shut down its High Park Gardens facility located in Leamington, Ontario.

Canadian cannabis companies are frustrated by the Jamaican government’s inaction. They have decided to cut their losses and exit the Jamaican market.

OrganiGram (NASDAQ:OGI) had good news for patients who use cannabis for medical purposes. The company expanded its medical cannabis offerings.

Earlier this week, Curaleaf (OTCMKTS:CURLF) reported its first-quarter earnings. The company missed analysts’ revenue expectations.

On Wednesday, Aurora Cannabis (NYSE:ACB) announced that it has signed an agreement to acquire Reliva—a US-based CBD company.

On Monday, Curaleaf (OTCMKTS:CURLF) reported its first-quarter earnings after the market closed. The company reported revenue of $96.5 million.

Analysts expect Curaleaf’s EBITDA to rise during the quarter. They expect the company to report an EBITDA of $15.7 million.

Today, Charlotte’s Web reported a mixed first-quarter performance. For the quarter ended on March 31, the company reported revenues of $21.7 million.

On Monday, GW Pharmaceuticals reported its first-quarter earnings. The company beat analysts’ revenue, EBITDA, and EPS expectations.

On Monday, Tilray (NASDAQ:TLRY) reported its first-quarter earnings after the market closed. For the quarter, the company posted revenues of $52.1 million.

On May 8, Aphria’s (NYSE:APHA) management announced that it agreed to repurchase its convertible senior notes from some holders outside of Canada.

Charlotte’s Web Holdings (OTCMKTS:CWBHF)(NYSEARCA:CWEB) will likely report its first-quarter earnings before the market opens on May 14.

The meltdown in global financial markets amid COVID-19 dragged Tilray stock down to $2.43 on March 18. Since then, the stock has recovered.