Marijuana Business News

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stocks
business
Wed
17
Jul

Cannabis venture capital firm Canopy Rivers reports $1.8-million Q4 loss

Canopy Rivers Inc. reported a loss of $1.8 million in its latest quarter compared with a profit of nearly $14.6 million in the same quarter last year.

The venture capital arm of marijuana company Canopy Growth Corp. says the loss amounted to two cents per diluted share for the quarter ended March 31 compared with a profit of 11 cents per diluted share a year ago.

Operating income for what was the company's fourth quarter totalled nearly $6.1 million, down from $19.5 million a year earlier.

For its full financial year, Canopy Rivers says it earned $3.9 million or two cents per diluted share on $38.5 million compared with a profit of $36.4 million or 36 cents per diluted share in the previous year. Operating income totalled $38.5 million, down from $50.2 million.

Wed
17
Jul

This Colombian girl-boss leads medical cannabis

Last year, Canopy Growth (TSX:WEED)(NYSE:CGC) announced the acquisition of the leading Colombian medical marijuana company, Spectrum Cannabis. According to an SEC filing dated February 14, 2019, Spectrum Cannabis owns 126 hectares of land on which Canopy Growth may cultivate legal marijuana.

Spectrum Cannabis began as a family-owned medical cannabis company in Colombia following medical marijuana’s legalization in 2016. Post-acquisition, Bibiana Rojas, the daughter of Spectrum’s founders, bravely manages Canopy Growth’s Colombian operations, a critical regional production hub.

Wed
17
Jul

Should you invest in Breath of Life International’s weed stock IPO?

Over the years, Israel has played a leading role in the development of medical marijuana. THC–the psychoactive compound in marijuana–was first isolated by Israeli chemists in 1964 and later developed by Israeli companies for use in their own country. After achieving popularity as a cancer treatment in the 1990s, THC was officially approved for export by Israeli authorities.

Now, Israel is looking to become a major player in the international cannabis industry, and at least one Israeli company has concrete production goals that could make that dream a reality.

Wed
17
Jul

The highest-yielding dividend stock in marijuana

The marijuana industry is chock-full of explosive growth stocks. What it's not yet known for, however, is high-yield dividend stocks.

This is to be expected, as the marijuana market is still in its nascent stages. Most cannabis companies are not yet profitable, and those that are typically need to reinvest their profits to fund their expansion initiatives. Thus, there aren't many marijuana-related businesses that have enough cash to pay dividends to investors.

But one company, Altria (NYSE:MO), currently offers investors one of the highest yields available not just among cannabis stocks, but among all stocks. 

Wed
17
Jul

7 reasons Aurora, Canopy, Cronos, and HEXO are all at or near 6-month lows

For years, the marijuana industry has been "kicking bud" and taking names. Between 2014 and 2018, the duo of Arcview Market Research and BDS Analytics finds that global licensed cannabis sales have grown from $3.4 billion to $10.9 billion, which gives validity that certain pie-in-the-sky sales projections offered up by Wall Street over the next 10 years are very possible. This growth has also played a big role in pushing pot stock valuations considerably higher.

Wed
17
Jul

A $10,000 investment in weed stocks at the beginning of 2019 is worth this much today

Marijuana stocks have historically been a volatile bunch. This year, that tendency shows no signs of going away, as shares continue fluctuating wildly day in and day out. To a certain extent, the volatility in the weed sector is to be expected. After all, marijuana companies were emerging growth startups just a few years ago, and they’re still young enough to experience dramatic price swings. Nevertheless, it’s surprising that marijuana stocks have given investors such a bumpy ride with their market caps approaching $10 billion.

Tue
16
Jul

Organigram reports $10.2 million third-quarter loss

Organigram Holdings Inc. (OGI.V) reported a third-quarter loss as revenue slipped amid lower recreational pot reorders from Ontario and British Columbia, but the cannabis company anticipated growth ahead as edibles and new retail stores come online.

The Moncton, N.B.-based licensed producer reported a $10.2-million loss for the three-month period ended May 31, compared with a profit of $2.8 million a year earlier.

Organigram's net revenue during its financial third quarter totalled $24.8 million, down from $26.9 million in its second quarter, but up from $3.4 million a year earlier -- before legal recreational cannabis sales began.

Tue
16
Jul

Canopy Growth Corp: What does the future hold for CGC stock and the marijuana market as a whole?

There was probably no bigger personality in the marijuana business (as far as executives go, that is) than Bruce Linton. The former Canopy Growth Corp (NYSE:CGC) CEO and founder is famous for taking a defunct chocolate factory in a small town in Canada and transforming it into the largest marijuana empire in the world, at least according to valuation.

But that reading has suddenly taken a turn with his firing by his own board. What does his departure mean for Canopy Growth stock? And for the marijuana industry more broadly?

In order to properly dissect this, we need to understand how one of the biggest names in pot was so quickly dethroned.

Tue
16
Jul

CannTrust Holdings stock: Can investor trust be restored?

CannTrust Holdings Inc. (TSX:TRST) (NYSE:CTST), one of the Canadian cannabis stocks, has seen its share price plunge more than 48% during the past five trading sessions to C$3.34 currently, following a Company announcement on July 8, 2019, that Health Canada notified CannTrust that its greenhouse facility in Pelham, Ontario is non-compliant with certain regulations. Specifically, the non-compliance is based on observations by the regulator regarding the growing of cannabis in five unlicensed rooms and inaccurate information provided to the regulator by CannTrust employees.

Tue
16
Jul

4 little-known cannabis stocks making big gains in 2019

When you think of cannabis companies, the first names that come to mind are likely the most publicized ones, such as Canopy Growth Corporation, Aurora Cannabis Inc, and Aphria.

Since there are more than 100 marijuana stocks in the market, there are some that fly under the radar. Today we have discovered four lesser-known cannabis stocks that have made big moves so far in 2019.

*Share prices as at close Thursday, July 11, 2019, data obtained from S&P Capital IQ

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