Cannabis stocks were mostly higher on Monday, with Canopy Growth Corp. enjoying gains after two bullish analyst notes and CannTrust Holdings Inc. falling on...
Cannabis stocks were mostly higher on Monday, with Canopy Growth Corp. leading the gainers after two bullish analyst notes highlighting the merits of a deal announced last week.
The deal gives Canopy a foothold in the U.S. market, which is estimated at about $10 billion, or 10 times larger than Canada, which fully legalized cannabis last October, said the note. Acreage is already in 20 states with 87 dispensaries and 22 cultivation and processing sites. Separately, Benchmark analyst Mike Hickey said the deal “illuminates a path for the U.S. cannabis market.” Benchmark already rates Canopy a buy and has a C$100 price target, which is 63% above the price of the Canadian-listed stock.
Net income is expected to range from C$12 million to C$14 million, up from C$11.4 million. The company harvested about 9,424 kg of cannabis from its Niagara Facility, up 96% from the fourth quarter. The average revenue per dry gram rose 14% in the quarter. “This step will assist TGOD in transforming our premium quality organic raw material into a variety of higher-margin cannabis products which is core to our business plan, providing us with the opportunity to bring to market innovative and novel products, including beverages and edibles, once regulations permit,” the company said in a statement.
Aphria Inc. stock APHA, +2.61% APHA, +1.76% was up 0.7% and Aleafia Health Inc. ALEF, +2.25% ALEF, +2.25% was up 7.92%. OrganiGram Holdings Inc. OGRMF, +2.82% OGI, +2.39% was up 2.6%.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Canopy Growth stock climbs more than 10% after report of potential merger with U.S. pot companyCanopy Growth Corp. shares spiked more than 10% higher in after-hours trading Wednesday after reports that it is preparing to acquire U.S. pot producer...
Leer más »
Weed giant Canopy Growth closing in on deal to buy Acreage HoldingsCanadian cannabis giant Canopy Growth is close to a deal to purchase Acreage Holdings, sources familiar with the deal told CNBC.
Leer más »
Canopy Growth isn’t buying Acreage Holdings, it’s buying the right to buy Acreage HoldingsCanopy Growth Corp. is not outright acquiring Acreage Holdings Inc., as reports said Wednesday, but it is preparing to pay billions for the rights to buy the...
Leer más »
Canopy Growth nearing deal to buy U.S.-based pot company Acreage Holdings: sourceCanadian marijuana producer Canopy Growth Corp is close to a deal to buy U.S.-ba...
Leer más »
Cannabis stocks rally as Canopy secures future foothold in the U.S.Cannabis stocks rallied on Thursday, boosted by the news that the biggest company in the sector by market cap has bought the rights to acquire a U.S....
Leer más »
Canopy Growth Aims to Buy Acreage Holdings, If U.S. Legalizes Marijuana ProductionA Canadian company agreed to buy one of the biggest U.S. marijuana growers in a $3.4 billion deal, but the acquisition is contingent on cannibis production and sales becoming legal in the U.S. at the federal level
Leer más »
Canadian weed giant Canopy Growth strikes $3.4 billion deal to buy Acreage after US legalization
Leer más »
Pot stocks are soaring and the cannabis industry is poised for 'tons of growth'April 20 has become the unofficial holiday for marijuana users. So now's a good time to look at the red hot sector. Cannabis stocks are soaring as the business goes legit.
Leer más »
Top cannabis CEOs say Canopy Growth's $3.4 billion purchase of pot cultivator Acreage 'shakes the foundation of what's been true' and will spur a cannabis M&A boom'Canopy has just gone bigger than everyone else — they don't take small swings,' a cannabis CEO told Business Insider.
Leer más »
Corona and Canopy: A mix of beer and pot that could juice your stock portfolioConstellation Brands is boosting its U.S. beer business while betting that marijuana products will deliver big sales.
Leer más »
The stock market’s progress to a fresh record hinges on a key gauge of economic growthWall Street is set to get its first read of 2019 economic growth as investors adopt a rosier economic outlook, following talk of a recession only a few weeks...
Leer más »