Marijuana Business News

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stocks
business
Wed
31
Jul

This marijuana penny stock just earned a major investment from Big Tobacco

Forgive the pun, but the cannabis industry is truly budding before our eyes. According to a newly released report from Arcview Market Research and BDS Analytics, global pot industry sales more than tripled from $3.4 billion in 2014 to $10.9 billion by 2018, and they're poised to nearly quadruple to $40.6 billion by 2024. Mind you, this figure doesn't include pharmaceutical-based cannabinoid sales, or cannabidiol (CBD) sales from general retail stores.

Wed
31
Jul

3 marijuana IPOs that could make you rich

Industry giant Canopy Growth had a sterling IPO back on April 4, 2014, when the shares of the company began trading on the Toronto’s Venture Exchange (TSXV). On the first day, the stock closed at $2.59. The hype over marijuana was not as puffed up as it is today.

On October 15, 2017, or two days before the Cannabis Act became law, the price soared to $73.75. Investors who’d bought shares on IPO date and unloaded the stock on this day realized 2,747.5% gain. That’s outrageous and over the top.

Wed
31
Jul

2 TSX marijuana stocks that have gotten extremely cheap

It’s been a tough summer for the marijuana industry, with Horizons Medical Marijuana Life Sciences ETF falling 11.5% so far since June. Although the selloff in marijuana stocks as a whole has been pronounced, some have been hit harder than others, with CannTrust Holdings (TSX:TRST)(NYSE:CTST) down 57% year to date. Reasons given for the sector-wide selloff include disappointing earnings reports from major producers and increasing regulatory scrutiny on the industry.

Wed
31
Jul

3 growth stocks to buy and hold for the next 50 years

If you are a buy-and-hold investor who thinks in decades, you need to look for a different type of company. That can mean looking past near-term losses to the long-term potential that a technology upstart like fast-growing Shopify (NYSE:SHOP) offers. Or the multiple ways that marijuana stock Canopy Growth (NYSE:CGC) has to reward investors willing to think long term. Or even examining a dividend growth story like the one offered by Hormel Foods (NYSE:HRL), which underpins over 50 years of success in the typically boring consumer goods space.

Tue
30
Jul

Why Canopy Growth (TSX:WEED) is only worth $14.34 per share

If you’d told someone two decades ago that recreational marijuana use would be legalized in Canada, they would not have believed you and would likely  have asked if you were high.

As of October 17, 2018, the Government of Canada legalized marijuana for recreational purposes.

Fast forward nine months, and Canada’s largest marijuana company Canopy Growth (TSX:WEED)(NYSE:CGC) has a market capitalization of almost $16 billion.

Canopy Growth’s stock price has increased 1,672% since its IPO, but this trend is unlikely to continue, and here is why.

Tue
30
Jul

CBD sales in Canada rise as more shops open with legal marijuana doing $85 million in May alone

CBD in Canada is not only popular, but the market is booming. According to a Bloomberg article, those in Canada can even get pot through the mail. It is also projected by BDS Analytics that sales may reach $4.7 billion by 2023.

Data by Statistics Canada also indicates that just this year, Canadians purchased $85 million worth of CBD from retail stores – and that is just in the month of May. It is also a 15 percent increase from sales in April.

Tue
30
Jul

Zenabis announces increase in licensed capacity by more than 40% and substantial completion of Zenabis Atholville

Zenabis Global Inc. (ZENA.TO) ("Zenabis" or the "Company") is pleased to announce the licensing of Phase 2C – Part 1 at Zenabis Atholville (an additional 9,800 kg of licensed annual cultivation capacity).

Highlights:

Tue
30
Jul

Is HEXO (TSX:HEXO) a value trap?

At first glance, HEXO (TSX:HEXO)(NYSE:HEXO) seems like the rare value play in an overvalued sector. As of writing, the company has an enterprise value under a billion dollars, and based on management’s projections of a $400 million run rate for fiscal 2020, we are looking at a stock that is trading at just 2.3 times forward sales. But before you make a contrarian purchase here, consider these following factors.

Tue
30
Jul

CannTrust (TSX:TRST) scandal hurts the marijuana industry

The shares of CannTrust Holdings (TSX:TRST)(NYSE:CTST) are down 60.73% year to date. It’s hard to imagine the stock of a major cannabis player falling by this much when the sector’s organic growth is underway. CannTrust’s admission of wrongdoing this month is the latest disgrace to hit the cannabis space.

The scandal could hurt the marijuana industry. The cannabis producers are supposed to squeeze the black market. But CannTrust did the opposite and sold unlicensed cannabis. CannTrust has placed the marijuana industry in a tough spot. New legislative measures might be introduced and more regulatory probes conducted.

Tue
30
Jul

Investing in cannabis stocks? Here are 13 things you need to know

Though there are literally thousands of stocks for investors to choose from, it's a group of a few dozen in the budding marijuana industry that are garnering a lot of buzz. And it's not hard to see why, either. If investors had the foresight, fortitude, and luck to invest in some of the biggest cannabis stocks at the beginning of 2016, they'd be looking at quadruple-digit percentage gains today.

But there's more to investing in the marijuana industry than throwing a dart and hoping to get lucky. Here are 13 things you should know if you plan to invest in cannabis stocks.

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