Almost three months after the initial public offering (IPO) of MedReleaf Corp. (TSX:LEAF), shares have yet to do much in either direction. The company, which came to market in what was then described as a “botched IPO,” fell quickly out of the gate from its IPO price.
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Undoubtedly, a reversal in the federal government’s laxness on pot would be terrible news for marijuana stock investors, but not every last company would be decimated. One marijuana stock could still thrive, even with Jeff Sessions waving the metaphorical sword at the pot industry: Scotts Miracle-Gro.
With prices for many major Canadian cannabis stocks such as Canopy Growth Corp., Aphria Inc., and Aurora Cannabis Inc. trading sideways over the past few months, investors are now wondering which direction stocks will move from here, and what the long-term play with this industry is overall.
Canopy Growth Corp. (TSX:WEED) was the first cannabis stock to the market and quickly captured the attention of traders and risk-taking growth investors alike. As a result, shares of Canopy skyrocketed 300% in a span of just a few months last year.
Whereas most weed businesses are working harder than ever to increase their grow capacity, Cronos Group is a company that’s trying to work smarter. Based in Canada, Cronos Group is an investment firm that primarily invests in Canadian-based pot companies involved in Canada’s medical-marijuana industry.
Any move by the Toronto Stock Exchange owner to stop settling trades for marijuana companies with U.S. operations would undermine the market’s regulatory system, according to one Canadian pot company.
TMX Group Ltd. (TSX:X), the operator of the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), has reportedly been speaking with regulators to figure out what will happen to Canadian marijuana producers with assets in the U.S.
GW Pharmaceuticals Plc. is a biopharmaceutical company that discovers, develops, and commercializes cannabinoid prescription medicines. Since May 10, 2013, the stock price has climbed 1,033%.
Clinical-stage cannabinoid-based drug developer Zynerba Pharmaceuticals (NASDAQ:ZYNE) had been one of the strongest-performing pot stocks over the trailing year prior to the start of this past week.
If you look around, chances are you won’t find many marijuana stocks struggling. But there’s always an outlier — and for the marijuana industry that’s drugmaker Insys Therapeutics.
TMX Group Ltd’s CEO on Thursday brushed off signs that the grip of Canada’s dominant stock exchange operator on overall trading volumes was slipping, saying recent market share losses were mostly due to its rejection of certain listings.
When GW Pharmaceuticals announced its fiscal third-quarter results on Monday, the company provided plenty of information about its performance during the quarter. However, it wasn’t any of the numbers in the update that caused this decline. Instead, one word caused investors’ disappointment.
For many weed stocks, the summer of 2017 hasn’t been what you’d call a scorcher. However, three marijuana stocks have sizzled this summer.
If just a single clinical trial works in favor of Cara Therapeutics, it could regain everything it’s recently lost and possibly hit a $1 billion market cap.
Identifying companies in great financial health is important when investing in an industry like marijuana. That being said, the Canadian marijuana stocks on our list all have current ratios of at least 10x, and debt to equity ratios under 20%.
In mid-June home lawn and fertilizer care specialist The Scotts Miracle-Gro Company (NYSE:SMG) lowered its full-year fiscal 2017 outlook, citing a more than 10% drop in mass retail sales compared to the year-to-date checkpoint from the previous year. That was caused by challenging weather this spring in core markets across the United States.
Although the hype has worn off when it comes to Canadian marijuana companies, major growth prospects still exist in this newly emerging industry.
With excitement bubbling over the growth potential in the marijuana stock market, investors are keen on which pot stocks are the best to ride that wave of hype into comfortable returns.
The Canadian government is moving quickly to legalize marijuana and, unlike the patchwork state-by-state approach unfolding in the U.S., Canada is set to make it legal nationwide by this time next year.
In total, four marijuana stocks jumped higher by at least 10% last week. Let’s take a brief look at some of these moves.
Well, we have news for Canadian marijuana stock investors: There’s a new threat on the horizon, at least for our neighbors to the north.
There are three different general types of marijuana stocks on the market. Some are marijuana growers. Others provide supplies to marijuana growers. Then there’s the third type: the biotechs. Zynerba Pharmaceuticals belongs to the last kind of marijuana stock.
On June 27, Cara Therapeutics (NASDAQ:CARA), a clinical-stage biotech company with a focus on treating chronic pain and pruritus, surged to an all-time intraday high of $28.50 a share. Cara was just $73 million away from joining the $1 billon market cap ranks.
There have been two interesting developments with marijuana producers Aurora Cannabis Inc. (TSXV:ACB) and Aphria Inc. (TSX:APH).
Insys Therapeutics is one of several biotechs developing cannabinoid drugs. Unlike most of these other companies, though, Insys has already won regulatory approval for its first cannabinoid — Syndros.
The results for Canopy Growth’s stock have been terrific so far, yielding a return of over 152% since inception. The stock has been performing well despite lacklustre results and frequent losses.
The Auscann Group Holdings Ltd share price has continued its strong run and is up a further 6% to 46 cents today. Why has it jumped? Let’s look to find out.
Canadian marijuana players have been rushing to invest and take strategic positions in the new Germany medical cannabis market since late 2016, and this trend is set to continue going forward.
One decision by a major bank could mean trouble in the not-too-distant future for marijuana stocks.
MedReleaf is one of less than four dozen licensed producers and retailers of medical cannabis products in Canada. The company was founded just four years ago, and it focuses on supplying dried cannabis, cannabis oils, and cannabis oil capsules to qualified medical patients in Canada.
Here’s why Scotts Miracle-Gro Company, GW Pharmaceuticals, and Canopy Growth Corporation are three stocks to buy if you’ve never bought a cannabis stock.
New Nevada marijuana laws will likely turn the state known for the partying in Las Vegas, into a cannabis destination, as well.
Warren Buffett is well known as the most successful investor of all time. Buffett spent his formative years under the tutelage of Benjamin Graham, who is known today as the “father of value investing.” Let’s see whether or not Aphria Inc. can pass Buffett’s mentor’s criteriea test.
Shares of Cara Therapeutics Inc., a clinical-stage biotech company with a focus on treating pain and pruritus, rocketed higher by as much as 11% during Wednesday’s trading session after providing an update to its phase 3 trial involving kappa opioid receptor agonist CR845.
On July 1, 2017, Nevada will legalize the use and sale of recreational marijuana, which could be a catalyst for long-term gains for three cannabis stocks.
The industry and the Canopy Growth Corp. were going to be the next big thing for investors, but things have cooled down gradually over the past few months.
According to a press release from Health Canada in late May, big changes are coming to the country’s medical cannabis program.
Medical Marijuana, Inc. holds the distinction of being the first publicly listed marijuana stock, and its diversity is rare, but is it worth investing in?
Thanks to a 2% gain to 49 cents today, the Cann Group Ltd (ASX: CAN) share price has now risen over 63% since hitting the ASX boards.
Here is a novel concept could increase the safety of cannabis deliveries and be a boon for marijuana stocks: drone deliveries. Not only will drone deliveries increase safety, but they will also make delivery faster and more convenient.
MedReleaf Corp. is the latest cannabis stock to hit the TSX. Could they be the spark to reignite the second wave of the green rush?
Aurora Cannabis Inc. has just announced another possible acquisition, and this time snatching up one of the world’s largest industrial hemp producers.
In April, investors were privy to the very first marijuana stock ETF, which debuted on the Toronto Stock Exchange with slightly more than a dozen holdings. This represented the very first time a basket fund was created for investors to easily diversify their pot-stock holdings. And last week, investors witnessed another marijuana first: the largest North American marijuana stock IPO of all-time.
The threat of increasing competition for GW Pharmaceuticals’ promising epilepsy drug took a toll on investors’ confidence last month.
Oh, how the mighty have fallen. Shares of Canopy Growth Corp. have dropped by over $6 a share, or 47.5%, since the middle of February.
Canadian marijuana stocks have been on a punishing slide for three straight months despite a temporary blip of investor fever in April that sent share prices soaring to record highs as Ottawa tabled legislation to legalize pot.
In the red-hot world of marijuana stocks, there can be no question that GW Pharmaceuticals reigns supreme, but could small-cap biotech Zogenix be a threat?
It is apparent that Aphria Inc. will be one of the major winners among marijuana companies. The timing of when to buy shares might be a bit tougher, though.
If there is a “Holy Grail” milestone out there for cannabis stocks, it’s the $1 billion sales mark. The first cannabis company to hit $1 billion in sales will likely validate the industry to Wall Street and investors. But which marijuana stock has the best chance at being first to $1 billion in annual sales?
The North American Marijuana Index, a stock index that tracks the top performing cannabis stocks in the U.S. and Canada, decreased 15% in May as stocks sold off in both markets. This marks the worst performing month for the North American Marijuana Index since December 2015.