Marijuana Business News

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business
Wed
09
Jan

Cannabis stocks to benefit from 2019 Health Canada regulations

While recreational marijuana has been legal in Canada since October 2018, some companies have been left in limbo as they wait for regulations on cannabis edibles, topicals and extracts.

However, that's expected to change later this year.

Once Health Canada finalizes its proposal on regulations, such cannabis products will be permitted for sale under The Cannabis Act no later than October 17, 2019.

Wed
09
Jan

Canadian marijuana producer CannTrust applies for NYSE listing

CannTrust Holdings Inc. CNTTF, +3.04% said Tuesday that it has applied to list its shares on the New York Stock Exchange, following other large Canadian cannabis companies that list in the U.S. but operate in Canada.

CannTrust stock was down 4% in morning trading, as the ETFMG Alternative Harvest ETF MJ, -0.14% fell 1.8%.

"CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation," CannTrust Chief Executive Peter Aceto said in a statement.

Wed
09
Jan

The top 10 Canadian marijuana stocks of 2018

Marijuana stocks have ebbed and flowed for a few years now, but the absolute peak of the frenzy hit about this time last year. That made the prospect of a year-end list a tough proposition. How bad was it? Of the scores of cannabis related issuers listed in Canada just eight had a positive return in 2018.

You heard that right. Eight.

The culprit, of course, was a year end swoon in global markets that wreaked havoc on most every sector and gutted this one.

A survey taken in early October, for instance, would have produced dozens of winners. But that, as they say, is why you play until the final buzzer. We bring you the top ten Canadian-listed marijuana stocks of 2018.

Wed
09
Jan

Could Canopy Growth Corp (TSX:WEED) stock hit $100 in 2019?

Canopy Growth Corp  (TSX:WEED)(NYSE:CGC) is Canada’s best-known marijuana stock. But in terms of financial results, it’s been far from the best performer. While competitors like Aurora Cannabis Inc have it beat on growth, others, such as CannTrust Holdings have achieved operating profits faster. Nevertheless, Canopy is still the #1 cannabis stock in terms of pure revenue: its sales surpassed Aurora’s by over $20,000,000 in its most recent quarter.

Wed
09
Jan

A weed-tech startup backed by an early Juul investor and Canopy Growth just raised $12 million

Headset, an analytics startup for the nascent marijuana industry, closed a $12.1 million Series A funding round backed by prominent investors.

The round was led by Poseidon Asset Management, an early Juul investor that's raising a $75 million venture fund to go after marijuana startups, and included middle-market private-equity fund AFI Capital Partners and Canopy Rivers, the venture arm of the publicly traded marijuana cultivator Canopy Growth.

Wed
09
Jan

Will cannabis-infused beverage stocks live up to the hype or fizzle out?

If any investors had been wondering how long it would take for the marijuana industry to shed its moniker as "taboo" and become a legitimate business model, wonder no longer.

Last year was a game changer in many ways for the cannabis industry. Canada became the first industrialized country to legalize adult-use weed, the U.S. Food and Drug Administration approved its first cannabis-derived drug, and President Trump signed the Farm Bill into law, legalizing hemp and hemp-based cannabidiol (CBD). Any doubts about marijuana being a valid business model were tossed out the window.

Wed
09
Jan

Shoppers Drug Mart starts selling medical marijuana online

Shoppers Drug Mart's e-commerce platform for medical cannabis launched Tuesday, a month after Health Canada licenced the company to sell the product online.

Product information is available nationally, but Shoppers Drug Mart can initially only sell medical cannabis to patients in Ontario. Patients will be required to take a medical document similar to a prescription to an Ontario pharmacy to begin the process. Specialized advisers will then contact patients, review their medical history and provide support with online registration and product selection.

Shoppers Drug Mart says it has signed supply agreements with 10 licensed producers of dried cannabis and cannabis oil and will provide products and medical accessories.

Wed
09
Jan

3 cannabis stocks with upbeat 2019 revenue guidance

Acreage Holdings and Organigram are some of the few cannabis companies to release 2019 revenue guidance. Given the early stage of the cannabis industry, companies often do not provide revenue & EBITDA outlooks, likely due to speculation. The cannabis stocks on our list have provided revenue estimates for 2019, which give investors and analysts an expectation to follow.

Tue
08
Jan

Cannabis Canada Daily: Origin House shareholders aim to ward off hostile takeovers

Origin House shareholders to ward off hostile acquisition offers

After receiving unsolicited offers from several unnamed cannabis companies, about one-quarter of Origin House’s shareholders have bandied together in a "voluntary voting support agreement" that protects the cannabis company from hostile takeover offers. BNN Bloomberg reports that Origin House’s move comes amid a recent uptick in M&A activity in the sector and a rash of new listings from U.S. cannabis companies that have raised $1.5 billion in capital in the first 10 months of last year.

Tue
08
Jan

Marijuana penny stocks: Namaste Technologies and Supreme Cannabis

Marijuana penny stocks are trending green again this morning, as we kick off the second week of the new year! Major Canadian and US cannabis stocks are also climbing. Today, we’ll take a closer look at two marijuana penny stocks that are trending on the TSXV.

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