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36900.0 | 2021-02-11 00:00:00 UTC | Why Charlotte's Web Holdings Stock Is Sinking Today | ACB | https://www.nasdaq.com/articles/why-charlottes-web-holdings-stock-is-sinking-today-2021-02-11 | nan | nan | What happened
Shares of Charlotte's Web Holdings (OTC: CWBHF) were sinking 16.2% lower as of 2:51 p.m. EST on Thursday. The company didn't announce any news. Instead, the decline appears to be the result of a broader sell-off of cannabis stocks.
So what
If Charlotte's Web's business prospects had diminished, today's fall would be understandable. However, nothing has changed on that front.
Image source: Getty Images.
The general pullback in cannabis stocks today really has nothing to do with business fundamentals. Many traders are likely taking profits after a major run-up in recent days, fueled in part by Reddit users talking up pot stocks online.
There could also be some concern about Aurora Cannabis' earnings update, scheduled for after the market closes on Thursday. Poor results from Aurora could potentially weigh on other cannabis stocks -- even ones like Charlotte's Web that have little in common with the Canadian cannabis producer.
Now what
The smartest thing for investors to do is to ignore the noise with Charlotte's Web and focus solely on the company's long-term growth opportunities. Those opportunities will remain somewhat murky, though, until the U.S. Food and Drug Administration finalizes regulations related to CBD food supplements.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Keith Speights has no position in any of the stocks mentioned. The Motley Fool recommends Charlotte's Web. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Many traders are likely taking profits after a major run-up in recent days, fueled in part by Reddit users talking up pot stocks online. Now what The smartest thing for investors to do is to ignore the noise with Charlotte's Web and focus solely on the company's long-term growth opportunities. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. | So what If Charlotte's Web's business prospects had diminished, today's fall would be understandable. The general pullback in cannabis stocks today really has nothing to do with business fundamentals. The Motley Fool recommends Charlotte's Web. | Poor results from Aurora could potentially weigh on other cannabis stocks -- even ones like Charlotte's Web that have little in common with the Canadian cannabis producer. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. | The company didn't announce any news. Poor results from Aurora could potentially weigh on other cannabis stocks -- even ones like Charlotte's Web that have little in common with the Canadian cannabis producer. The Motley Fool recommends Charlotte's Web. |
36901.0 | 2021-02-11 00:00:00 UTC | ACB April 1st Options Begin Trading | ACB | https://www.nasdaq.com/articles/acb-april-1st-options-begin-trading-2021-02-11 | nan | nan | Investors in Aurora Cannabis Inc (Symbol: ACB) saw new options begin trading today, for the April 1st expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ACB options chain for the new April 1st contracts and identified one put and one call contract of particular interest.
The put contract at the $16.00 strike price has a current bid of $2.40. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $16.00, but will also collect the premium, putting the cost basis of the shares at $13.60 (before broker commissions). To an investor already interested in purchasing shares of ACB, that could represent an attractive alternative to paying $16.26/share today.
Because the $16.00 strike represents an approximate 2% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 100%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 15.00% return on the cash commitment, or 111.83% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Aurora Cannabis Inc, and highlighting in green where the $16.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $20.00 strike price has a current bid of $2.76. If an investor was to purchase shares of ACB stock at the current price level of $16.26/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $20.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 39.98% if the stock gets called away at the April 1st expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ACB shares really soar, which is why looking at the trailing twelve month trading history for Aurora Cannabis Inc, as well as studying the business fundamentals becomes important. Below is a chart showing ACB's trailing twelve month trading history, with the $20.00 strike highlighted in red:
Considering the fact that the $20.00 strike represents an approximate 23% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 55%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 16.97% boost of extra return to the investor, or 126.55% annualized, which we refer to as the YieldBoost.
The implied volatility in the call contract example above is 211%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $16.26) to be 148%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ACB shares really soar, which is why looking at the trailing twelve month trading history for Aurora Cannabis Inc, as well as studying the business fundamentals becomes important. Below is a chart showing ACB's trailing twelve month trading history, with the $20.00 strike highlighted in red: Considering the fact that the $20.00 strike represents an approximate 23% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Aurora Cannabis Inc (Symbol: ACB) saw new options begin trading today, for the April 1st expiration. | Below is a chart showing ACB's trailing twelve month trading history, with the $20.00 strike highlighted in red: Considering the fact that the $20.00 strike represents an approximate 23% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Aurora Cannabis Inc (Symbol: ACB) saw new options begin trading today, for the April 1st expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ACB options chain for the new April 1st contracts and identified one put and one call contract of particular interest. | Below is a chart showing ACB's trailing twelve month trading history, with the $20.00 strike highlighted in red: Considering the fact that the $20.00 strike represents an approximate 23% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Aurora Cannabis Inc (Symbol: ACB) saw new options begin trading today, for the April 1st expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ACB options chain for the new April 1st contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the ACB options chain for the new April 1st contracts and identified one put and one call contract of particular interest. Below is a chart showing ACB's trailing twelve month trading history, with the $20.00 strike highlighted in red: Considering the fact that the $20.00 strike represents an approximate 23% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Aurora Cannabis Inc (Symbol: ACB) saw new options begin trading today, for the April 1st expiration. |
36902.0 | 2021-02-11 00:00:00 UTC | Why Aurora Cannabis, Aphria, Cronos Group, and Other Marijuana Stocks Crashed Today | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-aphria-cronos-group-and-other-marijuana-stocks-crashed-today-2021-02 | nan | nan | What happened
Cannabis stocks plunged on Thursday as traders rushed to take profits in companies that analysts say have seen their share prices rise too far, too fast.
Here's how some of the most popular marijuana stocks were performing as of 2:15 p.m. EST.
Aurora Cannabis (NYSE: ACB), down 21%;
Cronos Group (NASDAQ: CRON), down 20.6%;
Hexo (NYSE: HEXO), down 22.3%;
Canopy Growth (NASDAQ: CGC), down 21.4%;
Aphria (NASDAQ: APHA), down 27.6%.
So what
Pot stocks have caught the attention of traders on Reddit and other social media sites in recent weeks. Spurred by their excitement about the possibility of federal marijuana legalization in the U.S. now that the Democrats control the Senate, the House of Representatives, and the White House, many traders in the 8.9 million-member WallStreetBets Reddit group have ramped up their bets on weed stocks.
Shares of Aurora, Aphria, Cronos, Canopy, and Hexo gave up some of their recent gains on Wednesday. Image source: Getty Images.
Up until the market close on Wednesday, that optimism had been playing out well for investors. Many cannabis stocks had more than doubled since the beginning of the year.
APHA data by YCharts
Now what
However, analysts have been cautioning investors that in the wake of these torrid gains, the prices of many marijuana stocks no longer reflect the fundamental values of their underlying businesses. On Wednesday, many traders seemingly decided to pay attention to these warnings and sell their shares.
Still, cannabis remains one of the largest growth opportunities for investors in the coming decade. And if the stock prices of industry leaders such as Canopy Growth and Aphria pull back even further in the coming days, it's possible that long-term-minded investors could find some intriguing bargains.
10 stocks we like better than Aurora Cannabis Inc.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of November 20, 2020
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB), down 21%; Cronos Group (NASDAQ: CRON), down 20.6%; Hexo (NYSE: HEXO), down 22.3%; Canopy Growth (NASDAQ: CGC), down 21.4%; Aphria (NASDAQ: APHA), down 27.6%. What happened Cannabis stocks plunged on Thursday as traders rushed to take profits in companies that analysts say have seen their share prices rise too far, too fast. APHA data by YCharts Now what However, analysts have been cautioning investors that in the wake of these torrid gains, the prices of many marijuana stocks no longer reflect the fundamental values of their underlying businesses. | Aurora Cannabis (NYSE: ACB), down 21%; Cronos Group (NASDAQ: CRON), down 20.6%; Hexo (NYSE: HEXO), down 22.3%; Canopy Growth (NASDAQ: CGC), down 21.4%; Aphria (NASDAQ: APHA), down 27.6%. Shares of Aurora, Aphria, Cronos, Canopy, and Hexo gave up some of their recent gains on Wednesday. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Aurora Cannabis (NYSE: ACB), down 21%; Cronos Group (NASDAQ: CRON), down 20.6%; Hexo (NYSE: HEXO), down 22.3%; Canopy Growth (NASDAQ: CGC), down 21.4%; Aphria (NASDAQ: APHA), down 27.6%. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! See the 10 stocks *Stock Advisor returns as of November 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. | Aurora Cannabis (NYSE: ACB), down 21%; Cronos Group (NASDAQ: CRON), down 20.6%; Hexo (NYSE: HEXO), down 22.3%; Canopy Growth (NASDAQ: CGC), down 21.4%; Aphria (NASDAQ: APHA), down 27.6%. 10 stocks we like better than Aurora Cannabis Inc. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. |
36903.0 | 2021-02-11 00:00:00 UTC | Top Stocks To Buy Today? 4 Pot Stocks For Your List | ACB | https://www.nasdaq.com/articles/top-stocks-to-buy-today-4-pot-stocks-for-your-list-2021-02-11 | nan | nan | Will These 4 Top Pot Stocks Bring More Gains To Your Portfolio?
Cannabis stocks have generated significant momentum since the last quarter of 2020. This week, many of the top pot stocks became the newest targets from the Reddit community betting on federal legalization of marijuana under the new Biden administration. But that’s not all, really.
While Reddit’s hunt for the next GameStop is one of the reasons, a shifting political landscape, and commitments from prominent lawmakers could also be why investors are preparing a list of top pot stocks to buy for 2021. For those unfamiliar with the space, the Biden administration helped kick off a rally because of the President’s support for cannabis decriminalization. Senate Majority Leader Chuck Schumer put out a joint statement with Democratic Senators Cory Booker of New Jersey and Ron Wyden of Oregon that said they plan to put forward and advance “comprehensive cannabis reform legislation”. Another potential factor is how much money is being invested into the pot sector right now.
As the marijuana industry gears up for the potential of federal cannabis reform, there are reasons for optimism. Following this possibility, investors have been making sure they don’t miss a good opportunity when the industry is turning heads. From the start of 2021, top cannabis stocks to watch have been performing well with consistent momentum. As things continue to work in favor of the sector, marijuana stocks may see even bigger gains in the future. With all these in mind, here is a list of cannabis stocks to watch that could continue to post big gains in the second half of the week.
Top Pot Stocks To Watch Right Now
Tilray Inc (NASDAQ: TLRY)
Canopy Growth Corp. (NASDAQ: CGC)
Aurora Cannabis Inc. (NYSE: ACB)
Cronos Group Inc. (NASDAQ: CRON)
Tilray Inc.
First, up the list, Tilray is probably the best performing cannabis stock this week. On Wednesday, the company saw its stock price close 51% higher, bringing the TLRY stock’s year-to-date gains to nearly 700%. This came as Reddit investors were encouraging each other to make Tilray the next GameStop (NYSE: GME). The company was the first licensed producer of medical cannabis in the world to receive a Good Manufacturing Practices (GMP) certified in accordance with European Medicine Agency standards. This week, the company announced an agreement with Grow Pharma to import and distribute medical cannabis products in the United Kingdom.
Source: TD Ameritrade TOS
This agreement will allow Tilray to have a range of GMP-certified medical cannabis products available for patients in the UK by March 2021. Tilray says that its partnership with Grow Pharma will provide patients in need access to a sustained supply of GMP-certified, high-quality medical cannabis. Following this, It will also continue to advocate for reasonable patient access to medical cannabis in Europe and countries around the world. This no doubt plays well for the company as marijuana adoption begins to pick up momentum all around the globe. All things considered, will you have TLRY stock as a top pot stock to buy?
Read More
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Canopy Growth Corp.
Next up, Canopy Growth is another marijuana stock posting strong gains this week. CGC stock closed 12% higher on Wednesday after the company said it expects to be profitable by the second half of 2022. “We are building a track record of winning in our core markets, while also accelerating our U.S. growth strategy with the momentum building behind the promising cannabis reform in the U.S.,” said Canopy Growth CEO David Klein.
Source: TD Ameritrade TOS
Canopy has been working its way to profitability by cutting costs and controlling expenses. These efforts, combined with an expected increase in demand should help the company pave its way to profitability. With the new Biden administration, this all seems more possible under an administration that is more receptive towards the sector. Now that Canopy is starting to sell its products in the U.S., how much runway would CGC stock have in the years ahead?
[Read More] 4 Top Semiconductor Stocks To Watch Now Amid A Global Chip Shortage
Aurora Cannabis Inc.
Canada-based Aurora Cannabis is proving to investors that it could recover in 2021. ACB stock closed 21.28% higher on Wednesday, bringing its year-to-date gains to almost 100%. Although the company has started the year on a high note, I guess it’s safe to say that stock movement has less to do with the company’s performance. Rather, it appears to be a case of a rising tide lifting all boats. The company has continually pushed industry standards with its industry-leading product development, creating innovative brands. Aurora has also been paving the way to a new era of medical products and choices for patients. The company is set to report its second-quarter fiscal on Thursday’s closing bell.
Source: TD Ameritrade TOS
Aurora is currently the leading Canadian medical cannabis platform by revenue. It enjoyed a 40% quarterly growth in its first-quarter fiscal. Last month, the company announced a strategic agreement with MedReleaf Australia. MedReleaf will act as the exclusive supplier in Australia of Aurora’s MedReleaf, CanniMed and Aurora brands. Nevertheless, despite the optimism in the space, it may take some time for ACB to regain its financial footing. Personally, I would look for indications of sustained revenue growth and margin improvement before jumping into ACB stock. Perhaps, the quarterly report today may just offer such hopes. We will have to find out.
[Read More] Twitter (TWTR) Vs Snapchat (SNAP): Which Is A Better Social Media Stock To Buy?
Cronos Group
Last on the list, Cronos Group may not be exactly a top pot stock to buy considering its relatively low sales numbers and operating losses in the past four quarters. But that could change in the medium term. Now that the company is on its way to launch lab-grown marijuana this year, it could be a game-changer not just for the company, but for the industry as a whole.
Source: TD Ameritrade TOS
This could potentially be huge for the Cronos, assuming there will be no difference to the consumer. These products could be made for pennies per gram, and keeping costs low is vital to compete with the black market. Raymond James estimated that lab-grown products may cost just CA$0.10 per gram. For some context, Aphria’s cash cost of producing dried cannabis was CA$0.79 per gram. If Cronos can indeed deliver on its innovation successfully, we could be looking at a new cost leader. The question is, will consumers enjoy a lab-grown product? If the answer is yes, do you think CRON stock would skyrocket going forward?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Top Pot Stocks To Watch Right Now Tilray Inc (NASDAQ: TLRY) Canopy Growth Corp. (NASDAQ: CGC) Aurora Cannabis Inc. (NYSE: ACB) Cronos Group Inc. (NASDAQ: CRON) Tilray Inc. First, up the list, Tilray is probably the best performing cannabis stock this week. ACB stock closed 21.28% higher on Wednesday, bringing its year-to-date gains to almost 100%. Nevertheless, despite the optimism in the space, it may take some time for ACB to regain its financial footing. | Top Pot Stocks To Watch Right Now Tilray Inc (NASDAQ: TLRY) Canopy Growth Corp. (NASDAQ: CGC) Aurora Cannabis Inc. (NYSE: ACB) Cronos Group Inc. (NASDAQ: CRON) Tilray Inc. First, up the list, Tilray is probably the best performing cannabis stock this week. ACB stock closed 21.28% higher on Wednesday, bringing its year-to-date gains to almost 100%. Nevertheless, despite the optimism in the space, it may take some time for ACB to regain its financial footing. | Top Pot Stocks To Watch Right Now Tilray Inc (NASDAQ: TLRY) Canopy Growth Corp. (NASDAQ: CGC) Aurora Cannabis Inc. (NYSE: ACB) Cronos Group Inc. (NASDAQ: CRON) Tilray Inc. First, up the list, Tilray is probably the best performing cannabis stock this week. ACB stock closed 21.28% higher on Wednesday, bringing its year-to-date gains to almost 100%. Nevertheless, despite the optimism in the space, it may take some time for ACB to regain its financial footing. | Top Pot Stocks To Watch Right Now Tilray Inc (NASDAQ: TLRY) Canopy Growth Corp. (NASDAQ: CGC) Aurora Cannabis Inc. (NYSE: ACB) Cronos Group Inc. (NASDAQ: CRON) Tilray Inc. First, up the list, Tilray is probably the best performing cannabis stock this week. ACB stock closed 21.28% higher on Wednesday, bringing its year-to-date gains to almost 100%. Nevertheless, despite the optimism in the space, it may take some time for ACB to regain its financial footing. |
36904.0 | 2021-02-11 00:00:00 UTC | 1 Pot Stock I'm Not Selling Even in a Market Crash | ACB | https://www.nasdaq.com/articles/1-pot-stock-im-not-selling-even-in-a-market-crash-2021-02-11 | nan | nan | When share prices fall sharply, the initial reaction of many investors is to panic and sell otherwise solid investments. If you own volatile stocks like Canopy Growth and Aurora Cannabis, it can feel like you're holding a grenade. Sometimes, it's better to dump your holdings before the situation gets worse, especially in a bear market. But there are some stocks, let's call them pillars, that should be left untouched when the market tumbles.
I believe one of those pillars is Scotts Miracle-Gro (NYSE: SMG). With a robust business that is growing at an impressive rate and lots of potential remaining, this is one of few cannabis investments that you can buy and simply forget about. The stock is a pick-and-shovel play; Scotts provides licensed producers with the tools and equipment they need rather than growing pot itself, making it a less risky investment overall.
Image source: Getty Images.
Why it's a solid long-term investment
Scotts gives investors a way to safely gain exposure to the fast-growing marijuana industry. Its traditional gardening business (which is its U.S. Consumer segment) makes up the bulk of its revenue, but Hawthorne, its subsidiary which sells hydroponics systems, is providing the company with an excellent source of growth. In fiscal year 2020, Hawthorne accounted for 39.5% of total net sales. A hydroponics system uses pipes and pumps to help people grow plants (like cannabis) without soil. It takes up less space and doesn't require the vast resources that would otherwise be needed for conventional farming. And as there are more people and licensed producers growing marijuana, Scotts' top line will only get stronger in the years to come.
The company released its first-quarter earnings on Feb. 3, and its net sales of $748.6 million for the period ending Jan. 2 were more than double last year's tally of $365.8 million. What's impressive is that both of Scotts' segments are growing at strong rates. Its U.S. Consumer business generated revenue growth of 147%, while Hawthorne's sales rose a more modest 71% year over year. With net income of $25.2 million, this was also the first time that the company has posted a profit in the first quarter. Its business is seasonal and usually does better in the warmer months.
Scotts also raised its outlook for fiscal 2021 and now projects that its sales will grow between 1% and 6% for the year, up from an earlier range of 0% and 5%. It expects Hawthorne to lead the way, with its top line rising by as much as 30%. Previously, it was anticipating up to 20% growth. Its U.S. Consumer segment remains unchanged, however, with full-year growth this year likely to come in between 0% and minus 5%.
Over the long term, there are still considerable growth opportunities available for Scotts. After Arizona, Montana, New Jersey, and South Dakota passed measures to legalize recreational marijuana in November 2020, pot is now legal for recreational use in 15 states plus D.C. And there are likely more to come. New York and Virginia are among the states taking a serious look at recreational legalization this year.
It likely won't be until marijuana is legal at the federal level and when all states permit it that Scotts will come close to reaching its revenue peak, and that's why it's a safe bet to continue growing for many years. Without Hawthorne, the business may have been sluggish (although it has gotten a boost amid the pandemic as people get into gardening), but the cannabis industry has given it another gear, which is why this stock is likely to generate great returns for a long time.
The stock is fairly priced and is worth hanging on to in a crash
Over the past 12 months, Scotts' share price has increased by 93%, outperforming the S&P 500, which is up 16% during that period. With a price-to-earnings (P/E) ratio of 27, however, it's still not terribly expensive, and its multiple is in line with the average stock on the SPDR S&P 500 ETF Trust.
Even if its share price were to fall in a market crash, that would simply create an opportunity to buy more shares of the company at a reduced price -- it wouldn't be a reason to sell. During the last market crash, in March 2020, shares of Scotts fell below $80 but would be trading at more than $120 just a month later, back to where they were before the sell-off began.
And with the terrific growth that Scotts is expecting, investors can feel comfortable paying a bit of a premium for the stock. Finding a profitable, cannabis-related business to invest in isn't easy, and Scotts Miracle-Gro is a great option for risk-averse but curious cannabis investors.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
David Jagielski owns shares of Scotts Miracle-Gro. The Motley Fool owns shares of and recommends Scotts Miracle-Gro. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Its traditional gardening business (which is its U.S. Consumer segment) makes up the bulk of its revenue, but Hawthorne, its subsidiary which sells hydroponics systems, is providing the company with an excellent source of growth. It likely won't be until marijuana is legal at the federal level and when all states permit it that Scotts will come close to reaching its revenue peak, and that's why it's a safe bet to continue growing for many years. Without Hawthorne, the business may have been sluggish (although it has gotten a boost amid the pandemic as people get into gardening), but the cannabis industry has given it another gear, which is why this stock is likely to generate great returns for a long time. | And as there are more people and licensed producers growing marijuana, Scotts' top line will only get stronger in the years to come. Its U.S. Consumer business generated revenue growth of 147%, while Hawthorne's sales rose a more modest 71% year over year. Even if its share price were to fall in a market crash, that would simply create an opportunity to buy more shares of the company at a reduced price -- it wouldn't be a reason to sell. | It likely won't be until marijuana is legal at the federal level and when all states permit it that Scotts will come close to reaching its revenue peak, and that's why it's a safe bet to continue growing for many years. Even if its share price were to fall in a market crash, that would simply create an opportunity to buy more shares of the company at a reduced price -- it wouldn't be a reason to sell. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | I believe one of those pillars is Scotts Miracle-Gro (NYSE: SMG). And as there are more people and licensed producers growing marijuana, Scotts' top line will only get stronger in the years to come. Its U.S. Consumer business generated revenue growth of 147%, while Hawthorne's sales rose a more modest 71% year over year. |
36905.0 | 2021-02-11 00:00:00 UTC | Betting on Biden? Reddit fuels fresh surge in cannabis stocks | ACB | https://www.nasdaq.com/articles/betting-on-biden-reddit-fuels-fresh-surge-in-cannabis-stocks-2021-02-11 | nan | nan | By Danilo Masoni and Julien Ponthus
Feb 11 (Reuters) - Shares in North American cannabis firms were heading for new highs on Thursday, with Reddit-inspired retail investors betting they could beat the short-sellers and benefit from lighter regulation of the sector under U.S. President Joe Biden.
U.S.-listed Tilray TLRY.O and Sundial Growers SNDL.O, which surged more than 50% each in the previous session, were up 14% and 50% respectively in U.S. premarket trading, as European retail investors piled in to the rally.
Participants on the WallStreetBets forum on Reddit, which inspired a price spike in GameStop earlier this year that squeezed out Wall Street short-sellers who had bet on a price fall, have turned attention to U.S. and Canadian cannabis firms.
"The involvement of Reddit means a frenzy is the right word," said Jasper Lawler, head of research at London Capital Group in London.
"I’m splitting the outlook in two. Reddit targeting a short-squeeze in Tilray means a quick pump and dump," he said, while others looked longer-term amid prospects for lighter regulation of the sector under Biden and his Democrat allies in Congress.
Swaggystocks, which aggregates sentiment on shares discussed on the WallStreetBets forum which has about 8 million participants, showed Sundial and Tilray were the most "upvoted", or highly touted, stocks.
Short interest in Tilray, measuring the number of shares borrowed by short sellers betting on a price fall, was about 37% on Wednesday compared to 27% at the end of January, financial analytics firm Ortex said.
Short-sellers borrow stocks and sell them on, aiming to buy them back later more cheaply and pocket the difference. If the shares move up instead, they face a 'short squeeze' as they race to buy the stock to close out their positions to stem losses.
Tilray was the most traded stock on German trading platform Lang & Schwarz with more than 2.4 million euros in turnover by 1116 GMT, well ahead of major German stocks such as Volkswagen VOWG_p.DE and Deutsche Bank DBKGn.DE.
Other pot stocks, Sundial Growers and Aurora Cannabis ACB.TO, were also among the most active on the platform, reflecting high retail interest, traders said.
"It's the Reddit army and friends," said Stefan de Schutter, portfolio manager and Alpha Trading in Frankfurt.
Tilray jumped more than 50% on Wednesday, while U.S.-listed Sundial and Toronto-listed Aurora surged 78% and 21% respectively.
A search for Tilray showed up 217 posts on eToro, an Israeli trading platform seen as an alternative in Europe to popular U.S. retail platforms such as Robinhood.
One eToro user in Germany, @ChrisBro14, wrote in a thread about Tilray as it traded around $70: "Guess will go to $100. Where do you have TP limit. What do you think it will (do)?"
Interest in the sector lifted cannabis-focused exchange traded funds (ETFs) to new highs, with some more than doubling in value over the past month.
($1 = 0.8241 euros)
Cannabis ETFshttps://tmsnrt.rs/3tNFRjN
(Reporting by Danilo Masoni in MILAN and Julien Ponthus in LONDON; Editing by Kim Coghill and Edmund Blair)
((Danilo.Masoni@TR.com; +39-02-66129734; Reuters Messaging: danilo.masoni.thomsonreuters.com@reuters.net; On Twitter https://twitter.com/damasoni))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other pot stocks, Sundial Growers and Aurora Cannabis ACB.TO, were also among the most active on the platform, reflecting high retail interest, traders said. By Danilo Masoni and Julien Ponthus Feb 11 (Reuters) - Shares in North American cannabis firms were heading for new highs on Thursday, with Reddit-inspired retail investors betting they could beat the short-sellers and benefit from lighter regulation of the sector under U.S. President Joe Biden. Reddit targeting a short-squeeze in Tilray means a quick pump and dump," he said, while others looked longer-term amid prospects for lighter regulation of the sector under Biden and his Democrat allies in Congress. | Other pot stocks, Sundial Growers and Aurora Cannabis ACB.TO, were also among the most active on the platform, reflecting high retail interest, traders said. By Danilo Masoni and Julien Ponthus Feb 11 (Reuters) - Shares in North American cannabis firms were heading for new highs on Thursday, with Reddit-inspired retail investors betting they could beat the short-sellers and benefit from lighter regulation of the sector under U.S. President Joe Biden. Swaggystocks, which aggregates sentiment on shares discussed on the WallStreetBets forum which has about 8 million participants, showed Sundial and Tilray were the most "upvoted", or highly touted, stocks. | Other pot stocks, Sundial Growers and Aurora Cannabis ACB.TO, were also among the most active on the platform, reflecting high retail interest, traders said. By Danilo Masoni and Julien Ponthus Feb 11 (Reuters) - Shares in North American cannabis firms were heading for new highs on Thursday, with Reddit-inspired retail investors betting they could beat the short-sellers and benefit from lighter regulation of the sector under U.S. President Joe Biden. Swaggystocks, which aggregates sentiment on shares discussed on the WallStreetBets forum which has about 8 million participants, showed Sundial and Tilray were the most "upvoted", or highly touted, stocks. | Other pot stocks, Sundial Growers and Aurora Cannabis ACB.TO, were also among the most active on the platform, reflecting high retail interest, traders said. By Danilo Masoni and Julien Ponthus Feb 11 (Reuters) - Shares in North American cannabis firms were heading for new highs on Thursday, with Reddit-inspired retail investors betting they could beat the short-sellers and benefit from lighter regulation of the sector under U.S. President Joe Biden. A search for Tilray showed up 217 posts on eToro, an Israeli trading platform seen as an alternative in Europe to popular U.S. retail platforms such as Robinhood. |
36906.0 | 2021-02-10 00:00:00 UTC | CANADA STOCKS - TSX rises 0.16% to 18,438.73 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.16-to-18438.73-2021-02-10 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.16 percent to 18,438.73
* Leading the index were Aurora Cannabis Inc , up 20.6%, Cronos Group Inc CRON.TO, up 14.3%, and Enerplus Corp ERF.TO, higher by 11.2%.
* Lagging shares were Ballard Power Systems Inc BLDP.TO, down 12.5%, Trillium Therapeutics Inc TRIL.TO, down 6.1%, and Keyera Corp KEY.TO, lower by 4.8%.
* On the TSX 116 issues rose and 102 fell as a 1.1-to-1 ratio favored advancers. There were 19 new highs and no new lows, with total volume of 188.9 million shares.
* The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO.
* The TSX's energy group .SPTTEN rose 1.81 points, or 1.8%, while the financials sector .SPTTFS slipped 1.00 points, or 0.3%.
* West Texas Intermediate crude futures CLc1 rose 0.24%, or $0.14, to $58.5 a barrel. Brent crude LCOc1 rose 0.28%, or $0.17, to $61.26 O/R
* The TSX is up 5.8% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.16 percent to 18,438.73 * Leading the index were Aurora Cannabis Inc , up 20.6%, Cronos Group Inc CRON.TO, up 14.3%, and Enerplus Corp ERF.TO, higher by 11.2%. * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 12.5%, Trillium Therapeutics Inc TRIL.TO, down 6.1%, and Keyera Corp KEY.TO, lower by 4.8%. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.16 percent to 18,438.73 * Leading the index were Aurora Cannabis Inc , up 20.6%, Cronos Group Inc CRON.TO, up 14.3%, and Enerplus Corp ERF.TO, higher by 11.2%. * The TSX's energy group .SPTTEN rose 1.81 points, or 1.8%, while the financials sector .SPTTFS slipped 1.00 points, or 0.3%. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX rises 0.16 percent to 18,438.73 * Leading the index were Aurora Cannabis Inc , up 20.6%, Cronos Group Inc CRON.TO, up 14.3%, and Enerplus Corp ERF.TO, higher by 11.2%. * The TSX's energy group .SPTTEN rose 1.81 points, or 1.8%, while the financials sector .SPTTFS slipped 1.00 points, or 0.3%. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO. * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 12.5%, Trillium Therapeutics Inc TRIL.TO, down 6.1%, and Keyera Corp KEY.TO, lower by 4.8%. * On the TSX 116 issues rose and 102 fell as a 1.1-to-1 ratio favored advancers. |
36907.0 | 2021-02-10 00:00:00 UTC | CANADA STOCKS-TSX hits record high boosted by cannabis stocks | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-hits-record-high-boosted-by-cannabis-stocks-2021-02-10 | nan | nan | Adds details, updates prices
Feb 10 (Reuters) - Canada's main stock index rose to a record high on Wednesday, buoyed by shares of cannabis companies as the Reddit community behind a recent trading frenzy pumped up these stocks.
* A post on WallStreetBets, the Reddit forum linked to the past month's surges in GameStop Corp GME.N, AMC Entertainment AMC.N and others, told users that shares of producers Tilray Inc TLRY.O and Aphria Inc APHA.TO have more room to rise.
* The largest percentage gainers on the TSX were Aphria Inc APHA.TO, which jumped 19.7%, and Aurora Cannabis ACB.TO, which rose 14.3%.
* At 9:40 a.m. ET (14:40 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 97.36 points, or 0.53%, at 18,505.98.
* Canada will spend C$15 billion ($11.8 billion) on public transit projects over eight years as part of its efforts to stimulate the economy and create jobs post COVID-19, Prime Minister Justin Trudeau said.
* The energy sector .SPTTEN climbed 1.7% as U.S. crude CLc1 prices were up 0.2% a barrel, while Brent crude LCOc1 added 0.4%. O/R
* The financials sector .SPTTFS slipped 0.2%. The industrials sector .GSPTTIN fell 0.1%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1% as gold futures GCc1 rose 0.9% to $1,851.1 an ounce. GOL/
* On the TSX, 137 issues were higher, while 79 issues declined for a 1.73-to-1 ratio favouring gainers, with 19.39 million shares traded.
* Keyera Corp fell 3.4%, the most on the TSX, after posting a loss of $0.34 per share in the fourth quarter.
* The second biggest decliner was BlackBerry Ltd , down 2.6%.
* The most heavily traded shares by volume were The Supreme Cannabis Company , Zenabis Global Inc and The Green Organic Dutchman Holdings .
* The TSX posted 15 new 52-week highs and no new lows.
* Across all Canadian issues there were 144 new 52-week highs and 9 new lows, with total volume of 84.52 million shares.
(Reporting by Shivani Kumaresan in Bengaluru; Editing by Shinjini Ganguli)
((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The largest percentage gainers on the TSX were Aphria Inc APHA.TO, which jumped 19.7%, and Aurora Cannabis ACB.TO, which rose 14.3%. * A post on WallStreetBets, the Reddit forum linked to the past month's surges in GameStop Corp GME.N, AMC Entertainment AMC.N and others, told users that shares of producers Tilray Inc TLRY.O and Aphria Inc APHA.TO have more room to rise. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1% as gold futures GCc1 rose 0.9% to $1,851.1 an ounce. | * The largest percentage gainers on the TSX were Aphria Inc APHA.TO, which jumped 19.7%, and Aurora Cannabis ACB.TO, which rose 14.3%. Adds details, updates prices Feb 10 (Reuters) - Canada's main stock index rose to a record high on Wednesday, buoyed by shares of cannabis companies as the Reddit community behind a recent trading frenzy pumped up these stocks. GOL/ * On the TSX, 137 issues were higher, while 79 issues declined for a 1.73-to-1 ratio favouring gainers, with 19.39 million shares traded. | * The largest percentage gainers on the TSX were Aphria Inc APHA.TO, which jumped 19.7%, and Aurora Cannabis ACB.TO, which rose 14.3%. Adds details, updates prices Feb 10 (Reuters) - Canada's main stock index rose to a record high on Wednesday, buoyed by shares of cannabis companies as the Reddit community behind a recent trading frenzy pumped up these stocks. * A post on WallStreetBets, the Reddit forum linked to the past month's surges in GameStop Corp GME.N, AMC Entertainment AMC.N and others, told users that shares of producers Tilray Inc TLRY.O and Aphria Inc APHA.TO have more room to rise. | * The largest percentage gainers on the TSX were Aphria Inc APHA.TO, which jumped 19.7%, and Aurora Cannabis ACB.TO, which rose 14.3%. Adds details, updates prices Feb 10 (Reuters) - Canada's main stock index rose to a record high on Wednesday, buoyed by shares of cannabis companies as the Reddit community behind a recent trading frenzy pumped up these stocks. GOL/ * On the TSX, 137 issues were higher, while 79 issues declined for a 1.73-to-1 ratio favouring gainers, with 19.39 million shares traded. |
36908.0 | 2021-02-10 00:00:00 UTC | Pre-Market Most Active for Feb 10, 2021 : TLRY, OGI, ACIC, GNFT, GM, AMC, APHA, NOK, ACB, TWTR, FUTU, JG | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-feb-10-2021-%3A-tlry-ogi-acic-gnft-gm-amc-apha-nok-acb-twtr-futu | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 50.4 to 13,737.48. The total Pre-Market volume is currently 46,721,741 shares traded.
The following are the most active stocks for the pre-market session:
Tilray, Inc. (TLRY) is +10.87 at $53.22, with 4,859,680 shares traded., following a 52-week high recorded in prior regular session.
Organigram Holdings Inc. (OGI) is +1.6 at $5.97, with 4,681,169 shares traded., following a 52-week high recorded in prior regular session.
Atlas Crest Investment Corp. (ACIC) is +4.26 at $15.50, with 3,921,067 shares traded.
GENFIT S.A. (GNFT) is +1.72 at $7.01, with 3,822,899 shares traded. GNFT's current last sale is 63.73% of the target price of $11.
General Motors Company (GM) is -0.9499 at $55.11, with 2,668,941 shares traded. PR Newswire Reports: General Motors, the Largest U.S. Automaker, Plans to be Carbon Neutral by 2040
AMC Entertainment Holdings, Inc. (AMC) is +0.18 at $5.68, with 2,534,353 shares traded. AMC's current last sale is 142% of the target price of $4.
Aphria Inc. (APHA) is +5.53 at $29.28, with 2,519,284 shares traded., following a 52-week high recorded in prior regular session.
Nokia Corporation (NOK) is +0.03 at $4.22, with 2,067,080 shares traded. NOK's current last sale is 87.01% of the target price of $4.85.
Aurora Cannabis Inc. (ACB) is +2.47 at $18.08, with 1,736,208 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. The consensus earnings per share forecast is -0.19 per share, which represents a -216 percent increase over the EPS one Year Ago
Twitter, Inc. (TWTR) is +5.13 at $65.00, with 1,583,743 shares traded., following a 52-week high recorded in prior regular session.
Futu Holdings Limited (FUTU) is +25.59 at $180.00, with 1,212,244 shares traded., following a 52-week high recorded in prior regular session.
Aurora Mobile Limited (JG) is +1.12 at $8.12, with 1,055,734 shares traded.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +2.47 at $18.08, with 1,736,208 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. Organigram Holdings Inc. (OGI) is +1.6 at $5.97, with 4,681,169 shares traded., following a 52-week high recorded in prior regular session. PR Newswire Reports: General Motors, the Largest U.S. Automaker, Plans to be Carbon Neutral by 2040 | Aurora Cannabis Inc. (ACB) is +2.47 at $18.08, with 1,736,208 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. Tilray, Inc. (TLRY) is +10.87 at $53.22, with 4,859,680 shares traded., following a 52-week high recorded in prior regular session. Organigram Holdings Inc. (OGI) is +1.6 at $5.97, with 4,681,169 shares traded., following a 52-week high recorded in prior regular session. | Aurora Cannabis Inc. (ACB) is +2.47 at $18.08, with 1,736,208 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. Tilray, Inc. (TLRY) is +10.87 at $53.22, with 4,859,680 shares traded., following a 52-week high recorded in prior regular session. Organigram Holdings Inc. (OGI) is +1.6 at $5.97, with 4,681,169 shares traded., following a 52-week high recorded in prior regular session. | Aurora Cannabis Inc. (ACB) is +2.47 at $18.08, with 1,736,208 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. The NASDAQ 100 Pre-Market Indicator is up 50.4 to 13,737.48. Organigram Holdings Inc. (OGI) is +1.6 at $5.97, with 4,681,169 shares traded., following a 52-week high recorded in prior regular session. |
36909.0 | 2021-02-10 00:00:00 UTC | Why Canopy Growth, Aurora Cannabis, and Hexo Stocks Are Still Flying High | ACB | https://www.nasdaq.com/articles/why-canopy-growth-aurora-cannabis-and-hexo-stocks-are-still-flying-high-2021-02-10 | nan | nan | What happened
Marijuana investors are having a good trip this week.
Yesterday, a report of "record revenues" from Canadian cannabis company Canopy Growth (NASDAQ: CGC) and a promise of profits to come lit a fire under the entire marijuana industry. Flying high alongside Canopy, peer pot producers Hexo (NYSE: HEXO) and Aurora Cannabis (NYSE: ACB) also enjoyed the rush.
And they don't seem to want to come down. In noonday trading, shares of Canopy are still moving higher -- up 2.6% -- with Hexo up 3.6% and Aurora up 9.7%.
Image source: Getty Images.
So what
A quartet of optimistic analysts are making happy noises to keep the rally going.
As TheFly.com reports today, investment bank CIBC has doubled its price target on Canopy Growth stock to CA$64 ($50.56). Cantor Fitzgerald is seconding the emotion with a CA$62 ($48.98) price target, and MKM Partners isn't far behind with a valuation of CA$55 ($43.45) on Canopy. A fourth analyst, BMO Capital, preceded all of the above with a price target hike to CA$45 ($35.55) last night.
All four analysts kept their official ratings on Canopy stock at the equivalent of hold, but MKM, for example, pointed out that Canopy did beat earnings yesterday, while BMO said it is confident Canopy can hit its ambitious targets for cost reduction and increased profits next year. For its part, Cantor Fitzgerald pointed out that Canopy is a bellwether for the marijuana industry -- which explains why Canopy's peers are enjoying higher stock prices on the back of Canopy's news.
Now what
Now, it's worth pointing out that there's some dissent in the ranks of analysts covering Canopy, and not everyone is as happy with yesterday's results as are these four. Already, analysts at Benchmark have downgraded Canopy shares from buy to hold, for example, while Cannacord Genuity cut Canopy stock to sell and Cormark downgraded the stock to reduce (which happens to also mean "sell").
Meanwhile, Stifel Nicolaus, which already had a sell rating on the stock, doubled down on that opinion today. Stifel called yesterday's stock price rally (and today's) "perplexing" given that Canopy's revenue growth was "underwhelming," its challenges "underappreciated," its cash requirements "significant" -- and its valuation overpriced.
And I agree.
Don't get me wrong -- I'm all in favor of investors having a good day and making a profit on a stock they believe in. From my perspective, though, the fact that Canopy Growth suffered a decline in gross profit margins of 15 whole percentage points in fiscal Q3 is no cause for celebration. And as for the company's promise to turn all of this around and generate a profit -- but only when calculated according to "adjusted" earnings before interest, taxes, depreciation, and amortization (EBITDA)? And to do this no sooner than the second half of next year?
That simply doesn't justify adding $2.2 billion to Canopy Growth's market capitalization over the course of the last two days.
Or to put it more simply: 46 times sales is too much to pay for an unprofitable pot grower.
This article represents the opinion of the writer(s), who may disagree with the "official" recommendation position of a Motley Fool premium advisory service. We're motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Flying high alongside Canopy, peer pot producers Hexo (NYSE: HEXO) and Aurora Cannabis (NYSE: ACB) also enjoyed the rush. Yesterday, a report of "record revenues" from Canadian cannabis company Canopy Growth (NASDAQ: CGC) and a promise of profits to come lit a fire under the entire marijuana industry. Stifel called yesterday's stock price rally (and today's) "perplexing" given that Canopy's revenue growth was "underwhelming," its challenges "underappreciated," its cash requirements "significant" -- and its valuation overpriced. | Flying high alongside Canopy, peer pot producers Hexo (NYSE: HEXO) and Aurora Cannabis (NYSE: ACB) also enjoyed the rush. As TheFly.com reports today, investment bank CIBC has doubled its price target on Canopy Growth stock to CA$64 ($50.56). Stifel called yesterday's stock price rally (and today's) "perplexing" given that Canopy's revenue growth was "underwhelming," its challenges "underappreciated," its cash requirements "significant" -- and its valuation overpriced. | Flying high alongside Canopy, peer pot producers Hexo (NYSE: HEXO) and Aurora Cannabis (NYSE: ACB) also enjoyed the rush. All four analysts kept their official ratings on Canopy stock at the equivalent of hold, but MKM, for example, pointed out that Canopy did beat earnings yesterday, while BMO said it is confident Canopy can hit its ambitious targets for cost reduction and increased profits next year. For its part, Cantor Fitzgerald pointed out that Canopy is a bellwether for the marijuana industry -- which explains why Canopy's peers are enjoying higher stock prices on the back of Canopy's news. | Flying high alongside Canopy, peer pot producers Hexo (NYSE: HEXO) and Aurora Cannabis (NYSE: ACB) also enjoyed the rush. As TheFly.com reports today, investment bank CIBC has doubled its price target on Canopy Growth stock to CA$64 ($50.56). All four analysts kept their official ratings on Canopy stock at the equivalent of hold, but MKM, for example, pointed out that Canopy did beat earnings yesterday, while BMO said it is confident Canopy can hit its ambitious targets for cost reduction and increased profits next year. |
36910.0 | 2021-02-10 00:00:00 UTC | Aurora's CEO Makes a Gloomy Prediction for the U.S. Pot Market | ACB | https://www.nasdaq.com/articles/auroras-ceo-makes-a-gloomy-prediction-for-the-u.s.-pot-market-2021-02-10 | nan | nan | With more than two-thirds of Americans supporting marijuana legalization, it feels like it's only a matter of time before pot is federally legalized in the U.S. When that happens and cannabis can freely cross state lines, significant growth opportunities for the industry and the companies operating within it will appear.
But that doesn't mean legalization will be a smooth ride for everyone, or that it will simply translate into more revenue for the already-large cannabis producers in the country. There will definitely be growth, no doubt, but Aurora Cannabis (NYSE: ACB) CEO Miguel Martin recently cautioned investors that there could be significant challenges that come with legalization.
Image source: Getty Images.
The pot market could look a lot like Canada's
Canopy Growth (NASDAQ: CGC) CEO David Klein expects his company to be operating in the U.S. within the next 12 months. That suggests some significant marijuana reform would need to take place (likely full legalization) before then. However, Aurora's CEO doesn't appear to be as optimistic, believing that legalization could take longer than what people believe -- although he didn't make a specific prediction as to when it might happen.
And when the U.S. decides to legalize marijuana, Martin said in a recent interview that he thinks regulators will look to the Canadian model and use a similar approach, stating that, "I just think that people are a little bit naive if they don't think it's going to look a lot like Canada and a lot less like the Wild West when it comes to federal regulation of cannabis."
While borrowing ideas from the Canadian market would help U.S. regulators navigate legalization and perhaps speed up the process, it could pose challenges for the industry. In the Canadian cannabis industry, one of the major issues is that there are many warning labels on products and minimal space for a company to even feature its name or logo. That makes branding almost impossible, and it also doesn't help that advertising is virtually non-existent.
Another onerous restriction on cannabis producers in Ontario, specifically, is that they are not able to possess a retail license. The maximum ownership they can have in a company that has a retail license is 25% -- and that's after the provincial government increased the percentage from 9.9%. This prevents licensed producers from having too much power and prioritizing their own products in stores.
And for the products that get onto store shelves, companies also have to be careful with how they are named. Cannabis-infused beverages, for instance, aren't able to use 'beer' or 'wine' in their names nor can the products even be associated with an alcoholic beverage. This eliminates any advantage Canopy Growth may have enjoyed by partnering with Constellation Brands and potentially piggybacking off the popularity of its popular Corona and Modelo brands. Not only are cannabis products in Canada dull-looking, but big producers like Canopy Growth can't take advantage of some of the popular brands they're aligned with, making it difficult to differentiate from competing products.
Why a legal market could be bad news for large multistate operators
The biggest problem that a highly regulated market might bring for multistate operators is that it could make growth more difficult. Last year, the Brightfield Group released results from a poll of 3,000 Canadians and it found that more than 40% of respondents were aware of Tweed (a brand that Canopy Growth owns) and approximately one-third knew of Aurora. However, outside of those big names, there wasn't a whole lot of familiarity. For 17 brands, the level of awareness was below 20%. That includes a relatively big name in the industry like Tilray. Just 9% of consumers were aware of its brand.
This is good news for small cannabis companies looking to grab market share, since it means a strong established brand isn't guaranteed to dominate the industry. But for large multistate operators like Curaleaf (OTC: CURLF) or Trulieve Cannabis (OTC: TCNNF), legalization under that scenario could inhibit their growth. Large Canadian cannabis companies are struggling to generate much revenue growth even though it has only been a little over two years since the country legalized marijuana in October 2018. In its most recent fiscal year, Aurora's net sales of 278.9 million Canadian dollars for the period ending June 30, 2020, were just 13.6% higher than they were in the previous year. That pales in comparison with U.S. multistate operator Curaleaf, which generated $396.4 million in revenue over a shorter nine-month period ending Sept. 30, 2020, which was a year-over-year increase of 172.3%. The company operates more than 90 dispensaries across 23 states and has 22 cultivation sites and 30 processing locations. It sells consumers a variety of products, ranging from vapes and flower to mints and edibles.
However, this doesn't mean that Curaleaf's growth will suddenly dwindle down to less than 20% post-legalization. After all, the U.S. pot market is much larger than Canada's; cannabis research company BDSA projected last year that it could be worth $34.5 billion in 2025, while the Canadian market will be worth just $6.5 billion by then. But there's no doubt that a tough approach to regulation could negatively impact consumer recognition of even the biggest brands.
What does this mean for investors?
There's no reason for investors to worry right this second. There are still many question marks surrounding legalization and what it may look like when it arrives. But for an industry that can sometimes be overly bullish on the future, it wouldn't be a bad thing for investors to scale back their expectations a bit as legalization often means more rules and red tape. That's why Martin's conservative outlook for the industry appears to be much more realistic than Klein's.
Investors need to be careful in considering the price they pay for a pot stock today and avoid justifying a high premium by simply rationalizing that there will be more growth down the road. Although the industry is still in its early growth stages, that doesn't mean top brands will dominate, especially amid more stringent regulation. And for many stocks, that future growth is already priced into their current share prices.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | There will definitely be growth, no doubt, but Aurora Cannabis (NYSE: ACB) CEO Miguel Martin recently cautioned investors that there could be significant challenges that come with legalization. Last year, the Brightfield Group released results from a poll of 3,000 Canadians and it found that more than 40% of respondents were aware of Tweed (a brand that Canopy Growth owns) and approximately one-third knew of Aurora. But for an industry that can sometimes be overly bullish on the future, it wouldn't be a bad thing for investors to scale back their expectations a bit as legalization often means more rules and red tape. | There will definitely be growth, no doubt, but Aurora Cannabis (NYSE: ACB) CEO Miguel Martin recently cautioned investors that there could be significant challenges that come with legalization. The pot market could look a lot like Canada's Canopy Growth (NASDAQ: CGC) CEO David Klein expects his company to be operating in the U.S. within the next 12 months. Not only are cannabis products in Canada dull-looking, but big producers like Canopy Growth can't take advantage of some of the popular brands they're aligned with, making it difficult to differentiate from competing products. | There will definitely be growth, no doubt, but Aurora Cannabis (NYSE: ACB) CEO Miguel Martin recently cautioned investors that there could be significant challenges that come with legalization. And when the U.S. decides to legalize marijuana, Martin said in a recent interview that he thinks regulators will look to the Canadian model and use a similar approach, stating that, "I just think that people are a little bit naive if they don't think it's going to look a lot like Canada and a lot less like the Wild West when it comes to federal regulation of cannabis." Not only are cannabis products in Canada dull-looking, but big producers like Canopy Growth can't take advantage of some of the popular brands they're aligned with, making it difficult to differentiate from competing products. | There will definitely be growth, no doubt, but Aurora Cannabis (NYSE: ACB) CEO Miguel Martin recently cautioned investors that there could be significant challenges that come with legalization. The pot market could look a lot like Canada's Canopy Growth (NASDAQ: CGC) CEO David Klein expects his company to be operating in the U.S. within the next 12 months. Why a legal market could be bad news for large multistate operators The biggest problem that a highly regulated market might bring for multistate operators is that it could make growth more difficult. |
36911.0 | 2021-02-09 00:00:00 UTC | CANADA STOCKS - TSX rises 0.39% to 18,401.20 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.39-to-18401.20-2021-02-09 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.39 percent to 18,401.20
* Leading the index were Aphria Inc , up 23.8%, Canopy Growth Corp WEED.TO, up 12.2%, and SNC-Lavalin Group Inc SNC.TO, higher by 11.8%.
* Lagging shares were Boralex Inc BLX.TO, down 4.1%, Cenovus Energy Inc CVE.TO, down 4.0%, and Whitecap Resources Inc WCP.TO, lower by 3.7%.
* On the TSX 87 issues rose and 128 fell as a 0.7-to-1 ratio favored decliners. There were 17 new highs and no new lows, with total volume of 180.2 million shares.
* The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN fell 0.42 points, or 0.4%, while the financials sector .SPTTFS climbed 0.30 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 rose 0.69%, or $0.41, to $58.38 a barrel. Brent crude LCOc1 rose 1.04%, or $0.63, to $61.19 O/R
* The TSX is up 5.6% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.39 percent to 18,401.20 * Leading the index were Aphria Inc , up 23.8%, Canopy Growth Corp WEED.TO, up 12.2%, and SNC-Lavalin Group Inc SNC.TO, higher by 11.8%. * Lagging shares were Boralex Inc BLX.TO, down 4.1%, Cenovus Energy Inc CVE.TO, down 4.0%, and Whitecap Resources Inc WCP.TO, lower by 3.7%. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO. * On the TSX 87 issues rose and 128 fell as a 0.7-to-1 ratio favored decliners. * The TSX's energy group .SPTTEN fell 0.42 points, or 0.4%, while the financials sector .SPTTFS climbed 0.30 points, or 0.1%. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.39 percent to 18,401.20 * Leading the index were Aphria Inc , up 23.8%, Canopy Growth Corp WEED.TO, up 12.2%, and SNC-Lavalin Group Inc SNC.TO, higher by 11.8%. * The TSX's energy group .SPTTEN fell 0.42 points, or 0.4%, while the financials sector .SPTTFS climbed 0.30 points, or 0.1%. | * The most heavily traded shares by volume were Aphria Inc APHA.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.39 percent to 18,401.20 * Leading the index were Aphria Inc , up 23.8%, Canopy Growth Corp WEED.TO, up 12.2%, and SNC-Lavalin Group Inc SNC.TO, higher by 11.8%. * On the TSX 87 issues rose and 128 fell as a 0.7-to-1 ratio favored decliners. |
36912.0 | 2021-02-09 00:00:00 UTC | Making A List Of The Best Marijuana Stocks To Buy Right Now? 4 To Watch | ACB | https://www.nasdaq.com/articles/making-a-list-of-the-best-marijuana-stocks-to-buy-right-now-4-to-watch-2021-02-09 | nan | nan | 4 Top Marijuana Stocks To Buy [Or Avoid] Right Now
Marijuana stocks are on a tear right now. The gains these stocks have seen year-to-date have been impressive so far. Many investors are turning to marijuana stocks these days given how the Democrats now control the trifecta of federal government level. With Joe Biden as the sitting president, and Democrats controlling both the House and Senate, the pathway to marijuana legalization in the U.S. is very real. After the post-election high that these top marijuana stocks enjoyed on President Joe Biden’s victory last year, momentum seems to be picking up yet again.
Earlier this month, U.S. Senators Cory Booker, Ron Wyden, and Chuck Schumer issued a joint statement, “We are committed to working together to put forward and advance comprehensive cannabis reform legislation that will not only turn the page on this sad chapter in American history but also undo the devastating consequences of these discriminatory policies. The Senate will make consideration of these reforms a priority.”
Marijuana stocks like Canopy Growth (NASDAQ: CGC) and Innovative Industrial (NYSE: IIPR) have risen by over 60% and 20% respectively year-to-date. As investors pay close attention to the best marijuana stocks to buy in the stock market today, they could very well take advantage of the current market momentum. With that in mind, let’s look at the top marijuana stocks that could be worth adding to your portfolio.
Top Marijuana Stocks To Buy This Month
Tilray Inc (NASDAQ: TLRY)
Aphria Inc. (NASDAQ: APHA)
HEXO Corp (NYSE: HEXO)
Aurora Cannabis Inc. (NYSE: ACB)
Tilray Inc.
Tilray is a pharmaceutical and cannabis company that is incorporated in the U.S. with primary operations headquartered in Ontario. It is a global pioneer in the research and cultivation of medical cannabis and cannabinoids. The company was the first licensed producer of medical cannabis in the world to receive a Good Manufacturing Practices (GMP) certified in accordance with European Medicine Agency standards. The company’s share prices have been up by over 300% year-to-date. Today, the company announced an agreement with Grow Pharma to import and distribute medical cannabis products in the United Kingdom.
Source: TD Ameritrade TOS
This agreement will allow Tilray to have a range of GMP-certified medical cannabis products available for patients in the UK by March 2021. The company says that its partnership with Grow Pharma will provide patients in need access to a sustained supply of GMP-certified, high-quality medical cannabis. It will also continue to advocate for reasonable patient access to medical cannabis in Europe and countries around the world. This certainly plays well for the company as marijuana adoption begins to pick up momentum all around the globe. All things considered, will you have TLRY stock as a top marijuana stock to buy?
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Aphria Inc.
Aphria is a premier global cannabis company. Its state-of-the-art greenhouses and cultivation operations make the company one of the world’s leading fully integrated cannabis companies. The company has over 1,000 employees worldwide and has over 2.4 million ft2 in the current cultivation area. APHA stock has been up by over 180% year-to-date.
Source: TD Ameritrade TOS
In the company’s second-quarter fiscal posted last month, it reported net revenue of $125.84 million, a 33% increase year-over-year. The company also reported a record gross revenue for adult-use cannabis of $56.53 million in the second quarter, a 149% increase from the prior quarter, representing the seventh consecutive quarter of growth. The company also ended the quarter with $54.88 million in cash. In this quarter, Aphria completed its first shipment of medical cannabis to Canndoc for distribution in Israel. It also completed its first EU-GMP shipment of dried cannabis and cannabis oil to Germany.
This would show how the company is rapidly expanding its distribution network to countries all over the world. Furthermore, these impressive financials would reflect the strength of Aphria’s diversified global cannabis and consumer packaged goods business. With that in mind, will you consider buying APHA stock?
[Read More] 4 Top Tech Stocks To Watch Right Now
HEXO Corp
HEXO is a consumer packaged goods cannabis company with a worldwide market. It partners with Fortune 500 companies to bring its brand value, cannabinoid isolation technology and licensed infrastructure to established companies. It leverages these companies’ distribution networks and capacity. As one of the largest licensed cannabis companies in Canada, HEXO has 2 million ft2 of facilities in Ontario and Quebec. HEXO stock has been up by over 5% since today’s opening bell and trades at $9.16 as of 10:16 a.m. ET.
Source: TD Ameritrade TOS
In the company’s latest quarter financials, it reported gross revenue of $32.4 million, the highest in the company’s history and a 114% increase from a year earlier. HEXO also reported net revenue of $23.15 million, doubling year-over-year. HEXO CEO Sebastien St-Louis had this to say, “Today’s record revenue performance reflects our commitment to providing consumers with high-quality products, at reasonable prices, for all occasions. We continue to hold the number one market share position in Quebec while continuing to aggressively expand into other markets. HEXO is now top four in adult-use market share by net sales dollars in Canada.” With such impressive financials, would you want to consider buying HEXO stock?
[Read More] Looking For The Best Consumer Stocks To Buy? 1 Reported Earnings Today
Aurora Cannabis Inc
Last on this list is Aurora, a pioneer in the global cannabis market. The company has continually pushed industry standards with its industry-leading product development, creating innovative brands. Aurora has also been paving the way to a new era of medical products and choices for patients. ACB stock has been up by over 60% year-to-date. The company is set to report its second-quarter fiscal on Thursday’s closing bell.
Source: TD Ameritrade TOS
Aurora is currently the #1 Canadian medical cannabis platform by revenue and is a leading international cannabis platform. It enjoyed a 40% quarterly growth in its first-quarter fiscal. Last month, the company announced a strategic agreement with MedReleaf Australia. MedReleaf will act as the exclusive supplier in Australia of Aurora’s MedReleaf, CanniMed and Aurora brands. Products covered by the agreement will be EU-GMP certified and include dried flowers, oils, and soft gels. With such exciting developments surrounding the company, won’t you want to own ACB stock?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Top Marijuana Stocks To Buy This Month Tilray Inc (NASDAQ: TLRY) Aphria Inc. (NASDAQ: APHA) HEXO Corp (NYSE: HEXO) Aurora Cannabis Inc. (NYSE: ACB) Tilray Inc. Tilray is a pharmaceutical and cannabis company that is incorporated in the U.S. with primary operations headquartered in Ontario. ACB stock has been up by over 60% year-to-date. With such exciting developments surrounding the company, won’t you want to own ACB stock? | Top Marijuana Stocks To Buy This Month Tilray Inc (NASDAQ: TLRY) Aphria Inc. (NASDAQ: APHA) HEXO Corp (NYSE: HEXO) Aurora Cannabis Inc. (NYSE: ACB) Tilray Inc. Tilray is a pharmaceutical and cannabis company that is incorporated in the U.S. with primary operations headquartered in Ontario. ACB stock has been up by over 60% year-to-date. With such exciting developments surrounding the company, won’t you want to own ACB stock? | Top Marijuana Stocks To Buy This Month Tilray Inc (NASDAQ: TLRY) Aphria Inc. (NASDAQ: APHA) HEXO Corp (NYSE: HEXO) Aurora Cannabis Inc. (NYSE: ACB) Tilray Inc. Tilray is a pharmaceutical and cannabis company that is incorporated in the U.S. with primary operations headquartered in Ontario. ACB stock has been up by over 60% year-to-date. With such exciting developments surrounding the company, won’t you want to own ACB stock? | Top Marijuana Stocks To Buy This Month Tilray Inc (NASDAQ: TLRY) Aphria Inc. (NASDAQ: APHA) HEXO Corp (NYSE: HEXO) Aurora Cannabis Inc. (NYSE: ACB) Tilray Inc. Tilray is a pharmaceutical and cannabis company that is incorporated in the U.S. with primary operations headquartered in Ontario. ACB stock has been up by over 60% year-to-date. With such exciting developments surrounding the company, won’t you want to own ACB stock? |
36913.0 | 2021-02-09 00:00:00 UTC | Why Canopy Growth, Aurora Cannabis, and HEXO Stocks Are Up Today | ACB | https://www.nasdaq.com/articles/why-canopy-growth-aurora-cannabis-and-hexo-stocks-are-up-today-2021-02-09 | nan | nan | What happened
Marijuana stocks are rallying today. At 11:25 a.m. EST on Tuesday, Canopy Growth (NASDAQ: CGC) was up a strong 10.1%, and cannabis rivals Aurora Cannabis (NYSE: ACB) and HEXO (NYSE: HEXO) were doing even better, each up 11.4%.
And the reason all these stocks are doing well is Canopy itself.
Image source: Getty Images.
So what
This morning, Canopy Growth announced its earnings for the fiscal third quarter of 2021, claiming record revenue of 153 million Canadian dollars ($120 million), up 23% year over year, and predicting that it will begin turning revenue into profit by the second half of fiscal 2022. Working off Canopy's somewhat accelerated financial calendar, this implies that the company is only a year away from profitability. Canopy says it sees potential for cannabis reform in the United States that will help it reach this goal.
Implied in that promise of profits a year from now is the admission that Canopy Growth is not yet profitable today. Gross profit margins at the company plunged 15 full percentage points in the third quarter of 2021, versus the year-ago period, landing at just 16%. Net losses jumped more than 600%, to $829 million.
And Canopy burned through $135 million in negative free cash flow.
Now what
Despite all the negative numbers, Canopy Growth expressed optimism about the medium-term future. It predicted that with help from an opening-up of the U.S. market, it will accelerate its revenue growth from the 23% pace set in the third quarter, to 40% to 50% growth rates from fiscal 2022 through fiscal 2024.
The company also predicted that it will achieve positive adjusted EBITDA in the fiscal second half of 2022, positive operating cash flow by the end of fiscal 2023, and positive free cash flow in fiscal 2024.
All this news is specific to Canopy, so its qualified promise of profitability in a year doesn't mean that Aurora Cannabis and HEXO will also turn profitable alongside it. That being said, Canopy has set the stage for Aurora's own earnings report, which should arrive sometime in the next few days, and HEXO's report, due probably in late March.
Investors bidding up those shares today will hope that the news they have to report will be at least as good as what Canopy just reported -- and hopefully, even better.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At 11:25 a.m. EST on Tuesday, Canopy Growth (NASDAQ: CGC) was up a strong 10.1%, and cannabis rivals Aurora Cannabis (NYSE: ACB) and HEXO (NYSE: HEXO) were doing even better, each up 11.4%. So what This morning, Canopy Growth announced its earnings for the fiscal third quarter of 2021, claiming record revenue of 153 million Canadian dollars ($120 million), up 23% year over year, and predicting that it will begin turning revenue into profit by the second half of fiscal 2022. Gross profit margins at the company plunged 15 full percentage points in the third quarter of 2021, versus the year-ago period, landing at just 16%. | At 11:25 a.m. EST on Tuesday, Canopy Growth (NASDAQ: CGC) was up a strong 10.1%, and cannabis rivals Aurora Cannabis (NYSE: ACB) and HEXO (NYSE: HEXO) were doing even better, each up 11.4%. So what This morning, Canopy Growth announced its earnings for the fiscal third quarter of 2021, claiming record revenue of 153 million Canadian dollars ($120 million), up 23% year over year, and predicting that it will begin turning revenue into profit by the second half of fiscal 2022. All this news is specific to Canopy, so its qualified promise of profitability in a year doesn't mean that Aurora Cannabis and HEXO will also turn profitable alongside it. | At 11:25 a.m. EST on Tuesday, Canopy Growth (NASDAQ: CGC) was up a strong 10.1%, and cannabis rivals Aurora Cannabis (NYSE: ACB) and HEXO (NYSE: HEXO) were doing even better, each up 11.4%. So what This morning, Canopy Growth announced its earnings for the fiscal third quarter of 2021, claiming record revenue of 153 million Canadian dollars ($120 million), up 23% year over year, and predicting that it will begin turning revenue into profit by the second half of fiscal 2022. All this news is specific to Canopy, so its qualified promise of profitability in a year doesn't mean that Aurora Cannabis and HEXO will also turn profitable alongside it. | At 11:25 a.m. EST on Tuesday, Canopy Growth (NASDAQ: CGC) was up a strong 10.1%, and cannabis rivals Aurora Cannabis (NYSE: ACB) and HEXO (NYSE: HEXO) were doing even better, each up 11.4%. So what This morning, Canopy Growth announced its earnings for the fiscal third quarter of 2021, claiming record revenue of 153 million Canadian dollars ($120 million), up 23% year over year, and predicting that it will begin turning revenue into profit by the second half of fiscal 2022. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Canopy Growth Corp. wasn't one of them! |
36914.0 | 2021-02-09 00:00:00 UTC | Why Pot Stocks Are Soaring Again in Tuesday's Stock Market | ACB | https://www.nasdaq.com/articles/why-pot-stocks-are-soaring-again-in-tuesdays-stock-market-2021-02-09 | nan | nan | The stock market was narrowly mixed on Tuesday, pulling back from some of its recent gains. Investors are hopeful for further stimulus measures from the federal government, but they're uncertain about just how big they'll be or what groups will benefit the most. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 47 points to 31,339. The S&P 500 (SNPINDEX: ^GSPC) had fallen 7 points to 3,909, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) had inched higher by 15 points to 14,003.
However, the news from the marijuana stock sector was a lot more positive. There, shares of major players in the industry soared, with a number of factors helping to lift sentiment about cannabis investing.
Image source: Getty Images.
On a high
Gains were widespread across the marijuana industry. Stalwart favorites saw good-sized rises in their share prices, including a 10% jump for Aurora Cannabis (NYSE: ACB) and an 11% rise for Canopy Growth (NASDAQ: CGC). Cronos Group (NASDAQ: CRON) lagged slightly behind with a 7% rise, but some other players in the group put up even stronger performances.
Leading the way higher was Tilray (NASDAQ: TLRY), which jumped 34%. The Canadian company made an agreement with U.K.-based medicinal cannabis company Grow Pharma under which Grow will import Tilray-grown medical cannabis products for U.K. patients. Under the deal's terms, Tilray expects it will be able to get products across the Atlantic and into consumers' hands by March, with access by prescription either through private practitioners or from the U.K. National Health Service.
The move for Tilray follows up on good news from merger partner Aphria (NASDAQ: APHA) on Monday. Aphria has given Chief Strategy Officer Denise Faltischek a dual role in leading Aphria's Germany division, with the goal of expanding international use. Aphria shares were up another 20% on Tuesday morning.
A brighter future
Interestingly, the good news in cannabis came despite a somewhat mixed earnings report from Canopy Growth. Fiscal third-quarter revenue grew 23% compared to year-earlier levels, but Canopy reported a massive net loss of 829 million Canadian dollars. Free cash flow was also negative.
However, Canopy is optimistic about its future. CFO Mike Lee noted that Canopy's cost-savings program is paying off for the company, and he expects the cannabis giant to reach profitability during fiscal 2022.
The other positive factor for the cannabis industry is the effort in Washington to decriminalize marijuana at the federal level. Investors have been hopeful ever since the final results of the recent presidential and Congressional elections became known that such measures would stand a better chance of moving forward. The potential for growth stemming from opening up the U.S. market is substantial, and although decriminalization wouldn't instantaneously mean that Americans in all 50 states would be able to buy cannabis products, it would remove a major impediment to the growing trend toward legalization in many jurisdictions.
Be careful out there
Of course, longtime marijuana investors will remember that this isn't the first time hopes for the future have caused a surge in cannabis stocks. Past rises gave way to precipitous declines. Yet with most stocks far below their levels from bull markets in past years, there's room for optimism right now without necessarily raising concerns about irrational exuberance in pot stocks.
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Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stalwart favorites saw good-sized rises in their share prices, including a 10% jump for Aurora Cannabis (NYSE: ACB) and an 11% rise for Canopy Growth (NASDAQ: CGC). Under the deal's terms, Tilray expects it will be able to get products across the Atlantic and into consumers' hands by March, with access by prescription either through private practitioners or from the U.K. National Health Service. Fiscal third-quarter revenue grew 23% compared to year-earlier levels, but Canopy reported a massive net loss of 829 million Canadian dollars. | Stalwart favorites saw good-sized rises in their share prices, including a 10% jump for Aurora Cannabis (NYSE: ACB) and an 11% rise for Canopy Growth (NASDAQ: CGC). The potential for growth stemming from opening up the U.S. market is substantial, and although decriminalization wouldn't instantaneously mean that Americans in all 50 states would be able to buy cannabis products, it would remove a major impediment to the growing trend toward legalization in many jurisdictions. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Stalwart favorites saw good-sized rises in their share prices, including a 10% jump for Aurora Cannabis (NYSE: ACB) and an 11% rise for Canopy Growth (NASDAQ: CGC). Be careful out there Of course, longtime marijuana investors will remember that this isn't the first time hopes for the future have caused a surge in cannabis stocks. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Dan Caplinger has no position in any of the stocks mentioned. | Stalwart favorites saw good-sized rises in their share prices, including a 10% jump for Aurora Cannabis (NYSE: ACB) and an 11% rise for Canopy Growth (NASDAQ: CGC). A brighter future Interestingly, the good news in cannabis came despite a somewhat mixed earnings report from Canopy Growth. 10 stocks we like better than Tilray, Inc. |
36915.0 | 2021-02-09 00:00:00 UTC | CANADA STOCKS-TSX rises on gold boost, U.S. stimulus optimism | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-on-gold-boost-u.s.-stimulus-optimism-2021-02-09 | nan | nan | Adds details, updates prices
Feb 9 (Reuters) - Canada's main stock index rose on Tuesday, as gold miners tracked bullion prices higher, while hopes that a new U.S. stimulus bill would lead to a swift economic recovery also lifted sentiment.
* Gold prices jumped 1% to a one-week high in response to a weaker dollar and expectations of substantial U.S. fiscal stimulus.
* The White House expects the House of Representatives to track closely to President Joe Biden's relief plan as it marks up its latest round of legislation but expects lawmakers will tweak some elements.
* At 9:44 a.m. ET (1444 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 16.62 points, or 0.09%, at 18,346.88.
* Canopy Growth Corp WEED.TOCGC.O, the world's largest pot producer, said it expects to turn a profit in the second half of 2022 after aggressive cost-cutting and higher demand for cannabis products helped narrow third-quarter losses.
* SNC-Lavalin Group Inc SNC.TO said it would sell its oil and gas business to Kentech Corporate Holdings Ltd, an energy services company backed by private equity firm Blue Water Energy.
* The energy sector .SPTTEN dropped 2.2% as U.S. crude CLc1 prices were down 0.7% a barrel, while Brent crude LCOc1 lost 0.4%. O/R
* The financials sector .SPTTFS slipped 0.2%. The industrials sector .GSPTTIN rose 0.4%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.5% as gold futures GCc1 rose 0.6% to $1,842.1 an ounce. GOL/
* On the TSX, 89 issues were higher, while 129 issues declined for a 1.45-to-1 ratio to the downside, with 19.99 million shares traded.
* The largest percentage gainers on the TSX were Aphria Inc , which jumped 16%, and Aurora Cannabis that rose 8.9%.
* Cenovus Energy fell 4.9%, the most on the TSX, after posting a bigger-than-expected loss, hit by uneven demand for fuel due to renewed COVID-19 travel restrictions and weaker refinery operations.
* The second biggest decliner was Vermilion Energy , down 4.3%.
* The most heavily traded shares by volume were Zenabis Global Inc , NextSource Materials Inc and The Green Organic Dutchman Holdings .
* The TSX posted seven new 52-week highs and no new lows.
* Across all Canadian issues there were 121 new 52-week highs and 2 new lows, with total volume of 83.05 million shares.
(Reporting by Shivani Kumaresan in Bengaluru, Editing by Sherry Jacob-Phillips)
((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Canopy Growth Corp WEED.TOCGC.O, the world's largest pot producer, said it expects to turn a profit in the second half of 2022 after aggressive cost-cutting and higher demand for cannabis products helped narrow third-quarter losses. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.5% as gold futures GCc1 rose 0.6% to $1,842.1 an ounce. * Cenovus Energy fell 4.9%, the most on the TSX, after posting a bigger-than-expected loss, hit by uneven demand for fuel due to renewed COVID-19 travel restrictions and weaker refinery operations. | Adds details, updates prices Feb 9 (Reuters) - Canada's main stock index rose on Tuesday, as gold miners tracked bullion prices higher, while hopes that a new U.S. stimulus bill would lead to a swift economic recovery also lifted sentiment. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.5% as gold futures GCc1 rose 0.6% to $1,842.1 an ounce. GOL/ * On the TSX, 89 issues were higher, while 129 issues declined for a 1.45-to-1 ratio to the downside, with 19.99 million shares traded. | Adds details, updates prices Feb 9 (Reuters) - Canada's main stock index rose on Tuesday, as gold miners tracked bullion prices higher, while hopes that a new U.S. stimulus bill would lead to a swift economic recovery also lifted sentiment. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.5% as gold futures GCc1 rose 0.6% to $1,842.1 an ounce. GOL/ * On the TSX, 89 issues were higher, while 129 issues declined for a 1.45-to-1 ratio to the downside, with 19.99 million shares traded. | The industrials sector .GSPTTIN rose 0.4%. GOL/ * On the TSX, 89 issues were higher, while 129 issues declined for a 1.45-to-1 ratio to the downside, with 19.99 million shares traded. * The TSX posted seven new 52-week highs and no new lows. |
36916.0 | 2021-02-09 00:00:00 UTC | Pre-Market Most Active for Feb 9, 2021 : GLUU, TLRY, CLF, NOK, COTY, AMC, SOS, KALV, ACB, FUTU, APHA, CAN | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-feb-9-2021-%3A-gluu-tlry-clf-nok-coty-amc-sos-kalv-acb-futu-apha | nan | nan | The NASDAQ 100 Pre-Market Indicator is down -27.66 to 13,667.36. The total Pre-Market volume is currently 57,113,122 shares traded.
The following are the most active stocks for the pre-market session:
Glu Mobile Inc. (GLUU) is +3.15 at $12.54, with 10,251,406 shares traded. As reported by Zacks, the current mean recommendation for GLUU is in the "buy range".
Tilray, Inc. (TLRY) is +5.76 at $35.85, with 3,910,865 shares traded., following a 52-week high recorded in prior regular session.
Cleveland-Cliffs Inc. (CLF) is -1.67 at $15.66, with 3,692,601 shares traded. As reported by Zacks, the current mean recommendation for CLF is in the "buy range".
Nokia Corporation (NOK) is -0.01 at $4.25, with 1,990,969 shares traded. NOK's current last sale is 87.63% of the target price of $4.85.
Coty Inc. (COTY) is -0.19 at $7.75, with 1,984,588 shares traded. Business Wire Reports: Coty Announces Consolidation of Fragrance Manufacturing Operations with Intended Closure of Site in Cologne, Germany
AMC Entertainment Holdings, Inc. (AMC) is -0.3 at $5.88, with 1,913,624 shares traded. AMC's current last sale is 147% of the target price of $4.
SOS Limited (SOS) is +0.39 at $4.44, with 1,890,441 shares traded.
KalVista Pharmaceuticals, Inc. (KALV) is +21.49 at $37.10, with 1,637,373 shares traded. As reported by Zacks, the current mean recommendation for KALV is in the "buy range".
Aurora Cannabis Inc. (ACB) is +0.86 at $15.73, with 1,387,356 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. The consensus earnings per share forecast is -0.19 per share, which represents a -216 percent increase over the EPS one Year Ago
Futu Holdings Limited (FUTU) is +15 at $143.00, with 1,281,432 shares traded.
Aphria Inc. (APHA) is +2.41 at $21.39, with 1,106,748 shares traded., following a 52-week high recorded in prior regular session.
Canaan Inc. (CAN) is +0.54 at $7.60, with 988,454 shares traded.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +0.86 at $15.73, with 1,387,356 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. Tilray, Inc. (TLRY) is +5.76 at $35.85, with 3,910,865 shares traded., following a 52-week high recorded in prior regular session. Business Wire Reports: Coty Announces Consolidation of Fragrance Manufacturing Operations with Intended Closure of Site in Cologne, Germany | Aurora Cannabis Inc. (ACB) is +0.86 at $15.73, with 1,387,356 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. Tilray, Inc. (TLRY) is +5.76 at $35.85, with 3,910,865 shares traded., following a 52-week high recorded in prior regular session. Futu Holdings Limited (FUTU) is +15 at $143.00, with 1,281,432 shares traded. | Aurora Cannabis Inc. (ACB) is +0.86 at $15.73, with 1,387,356 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. The total Pre-Market volume is currently 57,113,122 shares traded. Coty Inc. (COTY) is -0.19 at $7.75, with 1,984,588 shares traded. | Aurora Cannabis Inc. (ACB) is +0.86 at $15.73, with 1,387,356 shares traded.ACB is scheduled to provide an earnings report on 2/11/2021, for the fiscal quarter ending Dec2020. The NASDAQ 100 Pre-Market Indicator is down -27.66 to 13,667.36. The following are the most active stocks for the pre-market session: |
36917.0 | 2021-02-09 00:00:00 UTC | Can Aurora Cannabis Stock Bounce Back In 2021? | ACB | https://www.nasdaq.com/articles/can-aurora-cannabis-stock-bounce-back-in-2021-2021-02-09 | nan | nan | Canada-based Aurora Cannabis (NYSE: ACB) tried proving to investors that it could recover in 2020. But it offered more words than actions. First, it promised to hit positive earnings before interest, tax, depreciation, and amortization (EBITDA) by the second quarter of fiscal 2020, then moved that goalpost to the second quarter of fiscal 2021 (with results due on Feb 11). Granted, Aurora did implement some drastic cost-cutting strategies by shutting down unproductive facilities in 2020. But its failure in achieving EBITDA targets dragged down the stock 68% last year, while the Horizons Marijuana Life Sciences ETF's fell only 9%. But the stock is already up over 60% since the start of 2021, leading many investors to ask: What gives?
Aurora's financial situation is not allowing the company to plan any growth strategies or launch new products. Considering at its focus on cutting costs and failed attempts to achieve positive earnings, it becomes highly difficult to trust Aurora to achieve true growth this year. But let's take a look at what has Aurora done so far and what its plans are to prove that its stock price deserves to stay on the up-and-up.
Image source: Getty Images.
Profitability still looks doubtful for Aurora
On Dec. 16, Aurora provided a business update wherein it indicated second-quarter fiscal 2021 will again see an EBITDA loss.
That isn't a good sign. In its Q1 ended Sept. 30, its adjusted EBITDA losses rang in at 57.9 million Canadian dollars, up from a loss of CA$39.6 million in Q1 2019. Sequentially, losses were worse than the CA$32.2 million seen in the fourth quarter of 2020. In Q1, total cannabis net revenue sank 8% year over year to CA$67.8 million.
Aurora stated in the press release that EBITDA losses could improve from Q1. However, the fact that the company has been prolonging hitting its EBITDA targets for so long makes it hard for investors to keep faith in its efforts. Furthermore, Aurora continues to dilute its shares to raise capital. Missing profitability targets and reaching new levels of dilution usually doesn't sit well with shareholders. It is generally a sign that the company is failing to raise capital through any other means.
Aurora hasn't resorted to a strong partnership deal to bolster its financials, like a few of its peers have done. Canopy Growth sealed a deal with U.S. beverage giant Constellation Brands in 2017 keeping its pockets deep enough to weather market storms.
Failing to raise capital and attain profitability is tying the company's hands to launch any new products and boost revenue growth. Aurora's focus is still on the medical cannabis market in Canada and internationally, while peers are ramping up the production of cannabis derivatives. Derivatives are typically high-margin recreational products like vapes, edibles, chocolates, beverages, and concentrates. Canada legalized these in Oct. 2019 as part of "Cannabis 2.0" legalization.
Aurora stated in the press release that its new strategy is "back to basics," which will focus on the key profitable Canadian consumer categories could delay achieving positive EBITDA. All of these factors suggest that profitability is still a long shot.
If this is all true, what is pushing Aurora's stock upwards this year?
After a disastrous 2020, in which Aurora failed to fulfill all of its promises, it seems to have started 2021 on a high note. Its stock is up 61% so far compared to the industry benchmark's gain of 81%. Unfortunately, the stock movement has not much to do with Aurora's performance. Marijuana stocks seem to have started the new year on a positive vibe.
ACB data by YCharts
Constellation Brands' constant faith in Canopy Growth and in the cannabis industry gives investors' hopes that the company has high potential. Not to mention the mega-merger deal between two major Canadian companies Aphria and Tilray.
The marijuana industry is being seen in a different light, especially with a new presidential administration in the U.S. Vice President Kamala Harris vowed that the administration would work to decriminalize the drug in a fall debate., giving investors hope that cannabis reforms could come sooner rather than later. These changes could benefit not only American cannabis companies, but also Canadian companies that wish to legally expand their operations into the U.S.
Back to basics
While other marijuana companies are striking while the iron is hot, Aurora Cannabis has still a long way to go. Forget launching the high demand cannabis derivatives -- Aurora must focus on growing its revenues, keeping costs low, and achieving positive EBITDA as soon as possible.
We will know more about Aurora's strategies for this year when it reports its fiscal 2021 second-quarter results on Feb. 11. But I do not think Aurora can bounce back in 2021. It could take a few years before it can become a true growth stock. If you haven't already invested, my advice is to steer clear of the stock until it shows some solid revenue growth and profit numbers and proves that it has what it takes to rebound. Only investors with an especially strong stomach for risk and a long-term investment horizon should consider this cannabis pick.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Sushree Mohanty has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACB data by YCharts Constellation Brands' constant faith in Canopy Growth and in the cannabis industry gives investors' hopes that the company has high potential. Canada-based Aurora Cannabis (NYSE: ACB) tried proving to investors that it could recover in 2020. Aurora stated in the press release that its new strategy is "back to basics," which will focus on the key profitable Canadian consumer categories could delay achieving positive EBITDA. | ACB data by YCharts Constellation Brands' constant faith in Canopy Growth and in the cannabis industry gives investors' hopes that the company has high potential. Canada-based Aurora Cannabis (NYSE: ACB) tried proving to investors that it could recover in 2020. Considering at its focus on cutting costs and failed attempts to achieve positive earnings, it becomes highly difficult to trust Aurora to achieve true growth this year. | Canada-based Aurora Cannabis (NYSE: ACB) tried proving to investors that it could recover in 2020. ACB data by YCharts Constellation Brands' constant faith in Canopy Growth and in the cannabis industry gives investors' hopes that the company has high potential. Profitability still looks doubtful for Aurora On Dec. 16, Aurora provided a business update wherein it indicated second-quarter fiscal 2021 will again see an EBITDA loss. | Canada-based Aurora Cannabis (NYSE: ACB) tried proving to investors that it could recover in 2020. ACB data by YCharts Constellation Brands' constant faith in Canopy Growth and in the cannabis industry gives investors' hopes that the company has high potential. Marijuana stocks seem to have started the new year on a positive vibe. |
36918.0 | 2021-02-08 00:00:00 UTC | 7 International Stocks to Avoid for Now | ACB | https://www.nasdaq.com/articles/7-international-stocks-to-avoid-for-now-2021-02-08 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
International stocks and global stock markets, in general, have wavered in the wake of the novel coronavirus pandemic. In countries where there is low institutional participation and susceptibility to herd-like behavior, the impact on investor sentiment is more pronounced. Some sectors such as travel, tourism, real estate, and manufacturing have been more impaired than others.
Despite the interdependencies of global stock markets, it is also true that some countries have fared better in controlling the virus than others. The United States is among the countries most affected by the virus, which is constricting the pace of its recovery. Moreover, investing in U.S. stocks is becoming more of a bet on the technology sector. Though tech stocks did well in 2020, similar returns might be challenging to replicate with the Democrats tightening regulations.
7 Growth Stocks That Won’t Be Stopped in 2021
With these factors in mind, there are several international stocks that investors should steer clear of for now. They are:
TAL Education Group (NYSE:TAL)
Vipshop Holdings (NYSE:VIPS)
Kandi Technologies(NASDAQ:KNDI)
AuroraCannabis (NYSE:ACB)
Barrick Gold(NYSE:GOLD)
Ryanair(NASDAQ:RYAAY)
Nokia stock (NYSE:NOK)
International Stocks to Avoid: TAL Education Group (TAL)
Source: Shutterstock
TAL education group is an education services company that primarily focuses on K-12 students in China. It owns and operates more than 800 learning centers across China that were significantly impacted by the Covid-19 induced restrictions. Unfortunately for TAL stock, it has an ineffective online presence in a market that is highly competitive.
Earnings results for the company have naturally taken a remarkable hit from the pandemic. The lack of online exposure has cost the company dearly when the online K-12 education market in China is booming.
The contribution of the company’s online app called Xueersi has risen by roughly 9% in its most recent quarter. However, its performance pales in comparison to competitor apps such as VIPKID and Zuoyebang. Therefore, there is little upside to investing in the stock at this time.
Vipshop Holdings (VIPS)
VIPS) website displayed on a smartphone screen." width="300" height="169">
Source: madamF / Shutterstock.com
Vipshop Holdings is a Chinese online discount retailer that partners with more than 17,000 domestic and international producers. Its ability to procure massive amounts of products and offer deep discounts enables it to enjoy significant economies of scale.
The company, however, is up against some serious competition, which continues to chomp away at its market share. Also, its recent foray into the traditional brick-and-mortar retail business diminished the outlook for VIPS stock.
The company’s earnings history has been relatively strong, with its five-year revenue growth at 26%. However, the problem with its business model is that it is unable to command a price premium. Hence, its gross margin for the trailing-twelve-months is at 21.4%, 36.2% lower than the sector average.
7 Growth Stocks That Won’t Be Stopped in 2021
Additionally, its EBITDA margin is also roughly 18% lower than the sector average. Moreover, its expansion into physical stores is likely to increase opportunity costs amid the diminishing returns on brick-and-mortar retailing.
International Stocks to Avoid: Kandi Technologies (KNDI)
KNDI) is on display in Shanghai." width="300" height="169">
Source: Carrie Fereday / Shutterstock.com
Kandi Technologies is a Chinese electric vehicle company that produces EV components and off-road electric vehicles. It was founded in 2002, just a year before EV giant Tesla, but the companies have been on distinct trajectories.
Kandi has been unable to expand revenue by meaningful numbers since its inception. Its weak fundamentals and bleak revenue growth prospects make KNDI stock an incredibly risky bet.
Its third-quarter results recently reported a 40.9% drop in revenue on a year-over-year basis. Moreover, its receivables stand at over $100 million, which is strange for a company with low revenues. Additionally, short-seller Hindenburg has accused the company of fraud over sales to related parties and having a notorious auditor. Kandi plans to move into the US market, but with such weak fundamentals and its lackluster product, it is likely to fail.
Aurora Cannabis (ACB)
Source: Shutterstock
Canadian cannabis giant Aurora Cannabis was struggling to boost growth even before the pandemic took its course. The company recently closed out another equity raise to control its rapidly growing cash burn.
With exceptionally high operating expenses and flat revenue, ACB stock is in a world of trouble.
The company is guilty of making some poor decisions, which has significantly impacted its financial positioning. It invested heavily in expensive greenhouses, overpaid for acquisitions and poorly managed its debt. Its debt currently stands at $380.8 million, while its cash balance is at just $113.3 million.
7 Growth Stocks That Won’t Be Stopped in 2021
On top of that, recent sales data on Canadian cannabis suggests a plateauing of the industry. Hence, nothing seems to be going right for the company at this stage.
International Stocks to Avoid: Barrick Gold (GOLD)
GOLD) logo is displayed on a smartphone screen over a bright blue background." width="300" height="169">
Source: madamF / Shutterstock.com
Gold-mining giant Barrick Gold has had a relatively decent 2020 on paper. Revenue growth dipped compared to 2019 levels but was still impressive overall. However, its sales were buffed up by higher metal prices, which should normalize this year.
The six-month returns for GOLD stock are at a negative 39%.
Lower production at the company’s flagship Porgera Mine resulted in a 13% reduction in its production. The Papua New Guinea government refused to extend the mining license at its massive Porgera Mine. Moreover, the company divested its hugely productive Kalgoorlie Mine in western Australia. These headwinds weighed down Barrick’s performance, which improved margins have largely offset.
Meanwhile, GOLD stock is trading at a 113% higher forward price to sales multiple than the sector average.
Ryanair (RYAAY)
Source: Shutterstock
European low-cost carrier Ryanair had a dismal 2020 like most companies in the sector. Revenue dropped by double-digits in the year, and near-term traffic recovery will be slower than expected.
The company has adapted well to the unprecedented pandemic situation, but its relative success is more than reflected in RYAAY stock’s price.
Revenue in its most recent quarter was down 82% year-over-year. Loss per share widened by a significant margin sequentially to $1.65. Operational costs are still considerably high, which has weighed down its margins. Moreover, extended lockdowns and the uncertainty surrounding the pandemic have led to Ryanair reducing traffic forecasts.
7 Growth Stocks That Won’t Be Stopped in 2021
Despite these weaknesses, the stock’s forward price to sales to ratio trades at 578% higher than the sector average.
International Stocks to Avoid: Nokia (NOK)
Source: RistoH / Shutterstock.com
Finnish telecom equipment provider Nokia is all-in on cementing its positioning in the 5G industry but appears to have fallen short. Its competitors in Huawei and Ericsson (NYSE:ERIC) seem to be ahead in the 5G race by a fair margin. Nokia continues to go through strategic shifts but appears to be lacking a real catalyst. NOK stock offers little incentive to investors, with six-month returns at a negative 5%.
With the Trump administration’s push to keep Huawei against the fence, Nokia and Ericsson were given an open field to expand their market shares. However, with Democrat Joe Biden’s election, the aggressive EU-US position on China should loosen up considerably. Therefore, the geopolitical advantage for Nokia is likely to fade away.
Earnings performance has been lackluster for Nokia, with negative revenue growth for the past four quarters. The company also slashed forecasts for this year, leaving little value for investors at this stage.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
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The post 7 International Stocks to Avoid for Now appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | They are: TAL Education Group (NYSE:TAL) Vipshop Holdings (NYSE:VIPS) Kandi Technologies(NASDAQ:KNDI) AuroraCannabis (NYSE:ACB) Barrick Gold(NYSE:GOLD) Ryanair(NASDAQ:RYAAY) Nokia stock (NYSE:NOK) International Stocks to Avoid: TAL Education Group (TAL) Source: Shutterstock TAL education group is an education services company that primarily focuses on K-12 students in China. Aurora Cannabis (ACB) Source: Shutterstock Canadian cannabis giant Aurora Cannabis was struggling to boost growth even before the pandemic took its course. With exceptionally high operating expenses and flat revenue, ACB stock is in a world of trouble. | They are: TAL Education Group (NYSE:TAL) Vipshop Holdings (NYSE:VIPS) Kandi Technologies(NASDAQ:KNDI) AuroraCannabis (NYSE:ACB) Barrick Gold(NYSE:GOLD) Ryanair(NASDAQ:RYAAY) Nokia stock (NYSE:NOK) International Stocks to Avoid: TAL Education Group (TAL) Source: Shutterstock TAL education group is an education services company that primarily focuses on K-12 students in China. Aurora Cannabis (ACB) Source: Shutterstock Canadian cannabis giant Aurora Cannabis was struggling to boost growth even before the pandemic took its course. With exceptionally high operating expenses and flat revenue, ACB stock is in a world of trouble. | They are: TAL Education Group (NYSE:TAL) Vipshop Holdings (NYSE:VIPS) Kandi Technologies(NASDAQ:KNDI) AuroraCannabis (NYSE:ACB) Barrick Gold(NYSE:GOLD) Ryanair(NASDAQ:RYAAY) Nokia stock (NYSE:NOK) International Stocks to Avoid: TAL Education Group (TAL) Source: Shutterstock TAL education group is an education services company that primarily focuses on K-12 students in China. Aurora Cannabis (ACB) Source: Shutterstock Canadian cannabis giant Aurora Cannabis was struggling to boost growth even before the pandemic took its course. With exceptionally high operating expenses and flat revenue, ACB stock is in a world of trouble. | They are: TAL Education Group (NYSE:TAL) Vipshop Holdings (NYSE:VIPS) Kandi Technologies(NASDAQ:KNDI) AuroraCannabis (NYSE:ACB) Barrick Gold(NYSE:GOLD) Ryanair(NASDAQ:RYAAY) Nokia stock (NYSE:NOK) International Stocks to Avoid: TAL Education Group (TAL) Source: Shutterstock TAL education group is an education services company that primarily focuses on K-12 students in China. Aurora Cannabis (ACB) Source: Shutterstock Canadian cannabis giant Aurora Cannabis was struggling to boost growth even before the pandemic took its course. With exceptionally high operating expenses and flat revenue, ACB stock is in a world of trouble. |
36919.0 | 2021-02-08 00:00:00 UTC | Why a Slew of Marijuana Stocks Blasted Higher Today | ACB | https://www.nasdaq.com/articles/why-a-slew-of-marijuana-stocks-blasted-higher-today-2021-02-08 | nan | nan | What happened
Nearly every major pot stock closed sharply higher on Monday. Tilray (NASDAQ: TLRY), its partner-to-be Aphria (NASDAQ: APHA), Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and OrganiGram Holdings (NASDAQ: OGI) all rose at double-digit rates.
Little guy OrganiGram led the way with a 41% increase; the others followed with respective 17%, 14%, 16%, and 11% gains on the day.
Image source: Getty Images.
So what
On Friday, the two chambers of Virginia's General Assembly passed marijuana legalization bills. The two must be reconciled for consistency's sake; afterward, the combined version will be sent to legalization supporter Gov. Ralph Northam for his signature.
Since weed is still illegal (albeit recently decriminalized) in the southern state, no cannabis company has a meaningful operation there. But that's probably not what fueled the great enthusiasm for marijuana stocks on Monday. Rather, it was the increasing likelihood that marijuana would be decriminalized at the federal level and thus made legal in most states.
If that occurs, Canadian weedies -- Tilray, Aphria, Aurora, HEXO, and OrganiGram are all headquartered north of our border -- will have free rein to sell their wares directly to U.S. consumers. Under current federal law, they are prohibited from doing so.
Now what
Momentum is snowballing for federal U.S. decriminalization, and Virginia's move is only the latest evidence of this. While this won't alleviate all the challenges of the marijuana industry, it will significantly improve its prospects. Pot stock investors are right to be enormously cheered by this development.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends OrganiGram Holdings. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Tilray (NASDAQ: TLRY), its partner-to-be Aphria (NASDAQ: APHA), Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and OrganiGram Holdings (NASDAQ: OGI) all rose at double-digit rates. Since weed is still illegal (albeit recently decriminalized) in the southern state, no cannabis company has a meaningful operation there. If that occurs, Canadian weedies -- Tilray, Aphria, Aurora, HEXO, and OrganiGram are all headquartered north of our border -- will have free rein to sell their wares directly to U.S. consumers. | Tilray (NASDAQ: TLRY), its partner-to-be Aphria (NASDAQ: APHA), Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and OrganiGram Holdings (NASDAQ: OGI) all rose at double-digit rates. If that occurs, Canadian weedies -- Tilray, Aphria, Aurora, HEXO, and OrganiGram are all headquartered north of our border -- will have free rein to sell their wares directly to U.S. consumers. The Motley Fool recommends HEXO. | Tilray (NASDAQ: TLRY), its partner-to-be Aphria (NASDAQ: APHA), Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and OrganiGram Holdings (NASDAQ: OGI) all rose at double-digit rates. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | Tilray (NASDAQ: TLRY), its partner-to-be Aphria (NASDAQ: APHA), Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and OrganiGram Holdings (NASDAQ: OGI) all rose at double-digit rates. Rather, it was the increasing likelihood that marijuana would be decriminalized at the federal level and thus made legal in most states. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. |
36920.0 | 2021-02-08 00:00:00 UTC | Why Sundial’s Parabolic Rise May Not Last | ACB | https://www.nasdaq.com/articles/why-sundials-parabolic-rise-may-not-last-2021-02-08 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
A stock that has been absolutely on fire of late, Sundial Growers (NASDAQ:SNDL) has more than doubled since late January. This is a speculative cannabis company with a broad base of retail investor support underpinning this rise. One of the favorites of the WallStreetBets subreddit, SNDL stock’s volatility may not be over any time soon.
Source: Shutterstock
However, there are some key risk factors I see with this stock right now. In short, I view Sundial as a speculative penny stock which resembles an options contract on survivability right now. Even after its double-up from Jan. 27, Sundial shares are trading at a 90%-plus discount to the 2019 IPO price.
Let’s start with some good news first.
Equity Issuances Broadly Positive
This cannabis producer has issued hundreds of millions of shares since September of last year, taking advantage of this run-up in its share price. This is to be expected, particularly for companies in Sundial’s position.
As shares began to spike, Sundial turned on the faucets, adding shares like they were going out of style. With a market capitalization of $1.7 billion at the time of writing, Sundial has approximately 1.5 billion shares outstanding. Investors should keep in mind that as of the company’s Sept. 30 filings, only approximately 200 million shares were on the books. This rate of dilution should, at some point, pour some water on this fire. However, the appetite for penny stocks right now appears to have gone from red-hot to white-hot, and retail investors are buying this stock in droves.
7 Growth Stocks That Won’t Be Stopped in 2021
In addition to these equity raises, SNDL’s convertible debt has been triggered at these higher prices. This has further exacerbated the company’s growing share count, and has been a key contributing factor to its seven-fold increase in share count in a few months.
What has culminated from these equity issuances and debt conversions is a company with approximately $600 million in liquidity today with no debt. This is extremely positive for those concerned about the survivability of this company.
Issues with SNDL Stock Maintaining Nasdaq Compliance
Sundial looks like a company that has assuaged liquidity and solvency concerns. However, this is still a stock that is at risk of maintaining its standing with the Nasdaq exchange. Any stock trading below $1 for an extended period of time receives such a notice. Therefore, a reverse stock split is likely on the horizon. Such a move has the potential to viewed in a bearish lens by investors, though the company’s listing would be solidified.
This is perhaps more of a minor concern today than a few months ago, given the fact that the company’s solvency concerns have seemingly been put to bed.
Not Fundamentally Strong, Or Operating in the U.S.
Two of the real issues I have with companies like SNDL right now are: (1) terrible underlying fundamentals; and (2) a lack of exposure to the U.S. market. Sundial operates entirely within Canada currently. This is also a relatively tiny player with less than $13 million (Canadian) in revenue in the previous quarter. Additionally, this company’s revenue growth rate, return on equity, return on assets, operating margin, and net margins are negative and absolutely dismal. Fundamentally, there’s really not anything to like about this stock right now.
With the potential for legalization on the horizon, companies like Sundial could expand to the U.S. However, doing so in any sort of reasonable timeline would likely require costly acquisitions. As we’ve seen Sundial’s impressively disastrous recent foray into the U.K. play out, I don’t have a ton of confidence SNDL is in a position to acquire its way to competitiveness in the U.S.
There are established players like Curaleaf (OTCMKTS:CURLF) that are absolutely dominating the U.S. market and growing at a rapid pace. Playing catch up with established players holding a head-start and a powerful, vertically-integrated business model with a footprint in almost every State is a difficult game to play.
Conclusion
The turnaround we’ve seen in SNDL stock in just a few months is absolutely incredible. Retail investors seem to like this “stonk,” and indiscriminate buying has saved this company from the brink of collapse. SNDL was a company that had breached its debt covenant and including an “going concern” warning in its Q3 filings last year. Now, this is a company with a war chest, and a valuation that rivals Aurora Cannabis (NYSE:ACB) and HEXO (NYSE:HEXO).
The WSB train has arrived at the station. How long this ride will continue remains to be seen. However, I’d caution investors to consider the downside risks this stock presents before jumping aboard.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
The post Why Sundial’s Parabolic Rise May Not Last appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Now, this is a company with a war chest, and a valuation that rivals Aurora Cannabis (NYSE:ACB) and HEXO (NYSE:HEXO). 7 Growth Stocks That Won’t Be Stopped in 2021 In addition to these equity raises, SNDL’s convertible debt has been triggered at these higher prices. Issues with SNDL Stock Maintaining Nasdaq Compliance Sundial looks like a company that has assuaged liquidity and solvency concerns. | Now, this is a company with a war chest, and a valuation that rivals Aurora Cannabis (NYSE:ACB) and HEXO (NYSE:HEXO). InvestorPlace - Stock Market News, Stock Advice & Trading Tips A stock that has been absolutely on fire of late, Sundial Growers (NASDAQ:SNDL) has more than doubled since late January. Issues with SNDL Stock Maintaining Nasdaq Compliance Sundial looks like a company that has assuaged liquidity and solvency concerns. | Now, this is a company with a war chest, and a valuation that rivals Aurora Cannabis (NYSE:ACB) and HEXO (NYSE:HEXO). InvestorPlace - Stock Market News, Stock Advice & Trading Tips A stock that has been absolutely on fire of late, Sundial Growers (NASDAQ:SNDL) has more than doubled since late January. Issues with SNDL Stock Maintaining Nasdaq Compliance Sundial looks like a company that has assuaged liquidity and solvency concerns. | Now, this is a company with a war chest, and a valuation that rivals Aurora Cannabis (NYSE:ACB) and HEXO (NYSE:HEXO). InvestorPlace - Stock Market News, Stock Advice & Trading Tips A stock that has been absolutely on fire of late, Sundial Growers (NASDAQ:SNDL) has more than doubled since late January. This is to be expected, particularly for companies in Sundial’s position. |
36921.0 | 2021-02-08 00:00:00 UTC | Aurora Cannabis Stock Is Worthy of a Small Pre-Earnings Investment | ACB | https://www.nasdaq.com/articles/aurora-cannabis-stock-is-worthy-of-a-small-pre-earnings-investment-2021-02-08 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Let’s be up-front about this. Alberta-based Aurora Cannabis (NYSE:ACB) isn’t the lowest-risk pot play out there. Indeed, there are folks who aren’t too thrilled about the growth prospects of ACB stock.
Source: Shutterstock
For instance, Jefferies analyst Owen Bennett assigned ACB stock an “underperform” rating along with a price target of just $3.58. Bear in mind that the stock was trading at $13 and change on Feb. 8.
So clearly, ACB isn’t the world’s most loved stock. On top of that, prospective investors have to contend with the fact that Aurora Cannabis plans to release its fourth-quarter earnings data on Feb. 11.
As if all of those considerations aren’t enough, we need to weigh the possibility of full U.S. cannabis decriminalization. Are you overwhelmed yet? Don’t worry, as we’ll try to unpack the issues surrounding ACB stock, starting with an analysis of the stock’s technical features.
A Closer Look at ACB Stock
The road to $13 wasn’t easy for ACB stock. As recently as Oct. 28, the stock was trading below $4, believe it or not.
7 Growth Stocks That Won’t Be Stopped in 2021
It’s hard to express in words just how volatile ACB stock has been. I suppose the term “roller-coaster ride” would be appropriate here.
Perhaps I should use numbers instead of verbal descriptors. ACB stock’s five-year monthly beta is 3.2, meaning that the stock has historically moved three times as fast as the overall stock market.
Here’s another way of looking at it. For the past 52 weeks, ACB stock’s range was $3.71 to $21.48. The current share price is far from the bottom of that range, but also nowhere near the top.
Therefore, it’s fair to say that there’s no way to predict where ACB will go in the short term. Besides, there’s an upcoming earnings release which would whipsaw ACB stock in either direction.
Given all of those considerations, it’s probably best to limit your position in ACB stock to a small one, if you choose to invest in it at all.
Legalization Hopes
If there’s any driver that could really juice ACB stock this year, it’s not something company-specific but rather the prospect of U.S. marijuana legalization.
In 2021, the U.S. has President Joe Biden in the White House, and he’s been known to have a lenient stance on cannabis use. Plus, the country has a House of Representatives that’s controlled by Democrats, who are sometimes known to favor marijuana legalization.
The Senate is a bit more complicated as the split among Democrats and Republicans is around 50-50. Getting a cannabis legalization bill through the Senate won’t just be a slam-dunk.
Nevertheless, there is hope on the horizon. Very recently, Senate Majority Leader Charles Schumer and Sens. Cory Booker and Ron Wyden affirmed their commitment to make cannabis reform a priority in 2021.
Setting a Low Bar
Even Bennett, the dour Jeffries analyst, seems to acknowledge that decriminalization could be imminent. “US political developments … mean the US market could open up sooner rather than later,” Bennett admitted.
Perhaps the prospect of federal-level weed legalization will bolster the ACB stock price. Yet, some investors might be worries about the upcoming earnings event.
The good news here is that Wall Street’s expectations are quite low. In fact, the analyst consensus is that Aurora Cannabis will post a loss of 19 cents per share for its second fiscal quarter.
I suppose that Wall Street’s pessimism might be somewhat justifiable. After all, for Aurora Cannabis’ previously reported fiscal quarter, the company reported an earnings miss of 166.7%.
That being said, a contrarian perspective ought to favor ACB stock pre-earnings as low expectations could potentially set the company up for a positive surprise.
The Bottom Line
As long as the outcome isn’t as bad as expected, Aurora Cannabis’ upcoming earnings results might be good enough to propel the ACB stock price higher.
And with possible national cannabis legalization in focus, the growth prospects for ACB stock aren’t looking too bad at all.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article.
David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.
The post Aurora Cannabis Stock Is Worthy of a Small Pre-Earnings Investment appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Source: Shutterstock For instance, Jefferies analyst Owen Bennett assigned ACB stock an “underperform” rating along with a price target of just $3.58. The Bottom Line As long as the outcome isn’t as bad as expected, Aurora Cannabis’ upcoming earnings results might be good enough to propel the ACB stock price higher. Alberta-based Aurora Cannabis (NYSE:ACB) isn’t the lowest-risk pot play out there. | That being said, a contrarian perspective ought to favor ACB stock pre-earnings as low expectations could potentially set the company up for a positive surprise. Alberta-based Aurora Cannabis (NYSE:ACB) isn’t the lowest-risk pot play out there. Indeed, there are folks who aren’t too thrilled about the growth prospects of ACB stock. | A Closer Look at ACB Stock The road to $13 wasn’t easy for ACB stock. ACB stock’s five-year monthly beta is 3.2, meaning that the stock has historically moved three times as fast as the overall stock market. The Bottom Line As long as the outcome isn’t as bad as expected, Aurora Cannabis’ upcoming earnings results might be good enough to propel the ACB stock price higher. | Legalization Hopes If there’s any driver that could really juice ACB stock this year, it’s not something company-specific but rather the prospect of U.S. marijuana legalization. The Bottom Line As long as the outcome isn’t as bad as expected, Aurora Cannabis’ upcoming earnings results might be good enough to propel the ACB stock price higher. Alberta-based Aurora Cannabis (NYSE:ACB) isn’t the lowest-risk pot play out there. |
36922.0 | 2021-02-08 00:00:00 UTC | OGI Stock: 7 Things to Know About Cannabis Play OrganiGram as Shares Blaze Higher | ACB | https://www.nasdaq.com/articles/ogi-stock%3A-7-things-to-know-about-cannabis-play-organigram-as-shares-blaze-higher-2021-02 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
OrganiGram (NASDAQ:OGI) stock is heading higher on Monday despite a lack of news concerning the marijuana company.
Source: Yarygin / Shutterstock.com
This goes along with the heavy trading of OGI stock today. As of this writing, more than 39 million shares of the stock have changed hands. To put that in perspective, the stock’s daily average trading volume is roughly 13 million shares.
So what exactly has OGI stock on the rise today? The exact reason is unclear but it’s worth noting other weed stocks are up today as well. That includes Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), and Hexo (NYSE:HEXO).
7 Growth Stocks That Won’t Be Stopped in 2021
With more investors taking an interest in OGI stock, it’s important to be read up on the company. Luckily, that’s what the quick breakdown below is for.
OrganiGram is a Canadian cannabis company founded in 2013 that serves the medical and recreational markets.
It went public in 2012 via an initial public offering (IPO).
The company got its start in the medical marijuana field before expanding out to recreational sales.
While its main operations are in Canada, the company wants to spread its business to reach a larger base of international customers.
OrganiGram operates several brands of pot products.
That includes a brand under its own name, Edison Cannabis Co., Shred, Trail Blazer, and Ankr Organics.
Gregory Engel leads the company as its CEO and offers up more than “30 years of experience in the pharmaceutical, biotechnology, cannabis and consumer packaged goods industries.”
OGI stock was up 34.6% as of Monday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The post OGI Stock: 7 Things to Know About Cannabis Play OrganiGram as Shares Blaze Higher appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | That includes Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), and Hexo (NYSE:HEXO). While its main operations are in Canada, the company wants to spread its business to reach a larger base of international customers. Gregory Engel leads the company as its CEO and offers up more than “30 years of experience in the pharmaceutical, biotechnology, cannabis and consumer packaged goods industries.” OGI stock was up 34.6% as of Monday afternoon. | That includes Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), and Hexo (NYSE:HEXO). InvestorPlace - Stock Market News, Stock Advice & Trading Tips OrganiGram (NASDAQ:OGI) stock is heading higher on Monday despite a lack of news concerning the marijuana company. Source: Yarygin / Shutterstock.com This goes along with the heavy trading of OGI stock today. | That includes Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), and Hexo (NYSE:HEXO). InvestorPlace - Stock Market News, Stock Advice & Trading Tips OrganiGram (NASDAQ:OGI) stock is heading higher on Monday despite a lack of news concerning the marijuana company. 7 Growth Stocks That Won’t Be Stopped in 2021 With more investors taking an interest in OGI stock, it’s important to be read up on the company. | That includes Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), and Hexo (NYSE:HEXO). InvestorPlace - Stock Market News, Stock Advice & Trading Tips OrganiGram (NASDAQ:OGI) stock is heading higher on Monday despite a lack of news concerning the marijuana company. Source: Yarygin / Shutterstock.com This goes along with the heavy trading of OGI stock today. |
36923.0 | 2021-02-05 00:00:00 UTC | CANADA STOCKS - TSX rises 0.48% to 18,129.22 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.48-to-18129.22-2021-02-05 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.48 percent to 18,129.22
* Leading the index were Eldorado Gold Corp , up 11.5%, BlackBerry Ltd BB.TO, up 9.1%, and New Gold Inc NGD.TO, higher by 6.6%.
* Lagging shares were Sleep Country Canada Holdings Inc ZZZ.TO, down 7.8%, Alimentation Couche-Tard Inc ATDb.TO, down 2.9%, and Aurora Cannabis Inc ACB.TO, lower by 2.7%.
* On the TSX 141 issues rose and 76 fell as a 1.9-to-1 ratio favored advancers. There were 14 new highs and no new lows, with total volume of 171.3 million shares.
* The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO.
* The TSX's energy group .SPTTEN rose 0.92 points, or 0.9%, while the financials sector .SPTTFS climbed 0.74 points, or 0.2%.
* West Texas Intermediate crude futures CLc1 rose 1.3%, or $0.73, to $56.96 a barrel. Brent crude LCOc1 rose 1.04%, or $0.61, to $59.45 O/R
* The TSX is up 4% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Sleep Country Canada Holdings Inc ZZZ.TO, down 7.8%, Alimentation Couche-Tard Inc ATDb.TO, down 2.9%, and Aurora Cannabis Inc ACB.TO, lower by 2.7%. * On the TSX 141 issues rose and 76 fell as a 1.9-to-1 ratio favored advancers. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO. | * Lagging shares were Sleep Country Canada Holdings Inc ZZZ.TO, down 7.8%, Alimentation Couche-Tard Inc ATDb.TO, down 2.9%, and Aurora Cannabis Inc ACB.TO, lower by 2.7%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO. * The TSX's energy group .SPTTEN rose 0.92 points, or 0.9%, while the financials sector .SPTTFS climbed 0.74 points, or 0.2%. | * Lagging shares were Sleep Country Canada Holdings Inc ZZZ.TO, down 7.8%, Alimentation Couche-Tard Inc ATDb.TO, down 2.9%, and Aurora Cannabis Inc ACB.TO, lower by 2.7%. * The Toronto Stock Exchange's TSX rises 0.48 percent to 18,129.22 * Leading the index were Eldorado Gold Corp , up 11.5%, BlackBerry Ltd BB.TO, up 9.1%, and New Gold Inc NGD.TO, higher by 6.6%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Cenovus Energy Inc CVE.TO. | * Lagging shares were Sleep Country Canada Holdings Inc ZZZ.TO, down 7.8%, Alimentation Couche-Tard Inc ATDb.TO, down 2.9%, and Aurora Cannabis Inc ACB.TO, lower by 2.7%. * The Toronto Stock Exchange's TSX rises 0.48 percent to 18,129.22 * Leading the index were Eldorado Gold Corp , up 11.5%, BlackBerry Ltd BB.TO, up 9.1%, and New Gold Inc NGD.TO, higher by 6.6%. * On the TSX 141 issues rose and 76 fell as a 1.9-to-1 ratio favored advancers. |
36924.0 | 2021-02-05 00:00:00 UTC | Why Aurora's Upcoming Quarterly Results Could Make or Break the Stock in 2021 | ACB | https://www.nasdaq.com/articles/why-auroras-upcoming-quarterly-results-could-make-or-break-the-stock-in-2021-2021-02-05 | nan | nan | This month, Aurora Cannabis (NYSE: ACB) will release earnings for its second quarter in fiscal year 2021 -- the first quarter during which new CEO Miguel Martin was at the helm for the entire time. He's the third person in charge of the company within the past year, following the departures of Terry Booth and Michael Singer. This report will offer some indications as to whether investors are dealing with the same old Aurora, or if it's finally making some real progress.
Arguably, Aurora's biggest problem has been its own inability to stay out of the red. And in recent quarters, even its top line hasn't been looking all that great, either. Here's a closer look at both of those items and what investors should be watching for when Aurora releases its results.
Image source: Getty Images.
Positive adjusted EBITDA -- often promised, never delivered
The key thing investors will be looking at in the results for the quarter, which ended on Dec. 31, is the bottom line -- adjusted EBITDA, specifically. Aurora Cannabis has consistently struggled with profitability.
During theearnings callfor fiscal 2019's third quarter, management said the company was on track to post a positive EBITDA for the fiscal fourth quarter. That didn't end up happening. Then, in June of last year, the company again said it was on track to achieve positive adjusted EBITDA for fiscal 2020's Q1, but just a few months later, it pushed the goal again to fiscal Q2.
On Dec. 16, the company said that while it expects to report an improvement on the adjusted EBITDA metric in fiscal Q2, due to a change in strategy to focus more on consumer packaged goods, it would once again be a negative number. And management did not provide a new forecast about when it might achieve the goal of positive adjusted EBITDA.
Investors will still be looking for some significant improvements in adjusted EBITDA, especially since the company is focusing more on selling its higher-priced, premium brands. This is a change in direction; under previous leadership, the company launched Daily Special, a value brand that focused on a low price point, seeking to be more competitive with the black market. While it's not abandoning the value brand, by pivoting toward higher-margin products including vapes and edibles, the company's bottom line should improve.
When the Alberta-based company released its first-quarter fiscal 2021 results on Nov. 9, it recorded an adjusted EBITDA loss of 57.9 million Canadian dollars for the period, which ended Sept. 30. That was a worse result than the previous quarter's CA$34.6 million loss.
The bottom line isn't the only issue
Another problem is that Aurora is struggling to grow its sales. In fiscal Q1, net sales of CA$67.8 million were down 1.3% sequentially. And that slide came despite its strength in the Canadian market. As Martin noted at the time, "we remain the leader by revenue in the high-margin Canadian medical market, our international medical business experienced more than 40% net revenue growth this quarter, and our CBD brand Reliva is No. 1 ranked by Nielsen in the U.S. CBD sector."
The company's poor sales numbers are also surprising given that the Canadian pot market has fared well on the whole during the pandemic. Data from Statistics Canada show that retail cannabis sales rose from CA$154.1 million in January 2020 to as high as CA$270 million in October.
The ability to act on growth potential is what attracts (and reattracts) many investors to the marijuana sector, and Aurora simply hasn't been delivering on that of late.
Is Aurora worth the risk?
Since Nov. 1, just before U.S. election that resulted in four more states legalizing recreational marijuana, Aurora's stock has been flying. It's up by around 225%, and performing far better than sector-tracking Horizons Marijuana Life Sciences ETF, which is up by 130% over that period. That surge could set the pot stock up for yet another sell-off, especially if the company disappoints investors with its upcoming earnings report, and its new CEO isn't able to give investors a reason to remain optimistic.
But it may be too soon to expect some of the changes management has been making to significantly impact financial results. In December, Aurora announced it would be laying off 214 workers reducing operations at its Aurora Sky greenhouse by 75%. That move came after its November decision to pause operations at its Aurora Sun facility.
However, that still shouldn't excuse the company from showing some improvements in the upcoming report, as struggling sales numbers and a weak bottom line aren't new problems for Aurora, and they're issues Martin would have been well aware of when taking over as CEO.
For now, Aurora Cannabis should be viewed as too risky of a buy for the average investor. Until the company posts results that indicate otherwise, you're better off avoiding the stock and investigating other cannabis sector picks instead.
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David Jagielski has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This month, Aurora Cannabis (NYSE: ACB) will release earnings for its second quarter in fiscal year 2021 -- the first quarter during which new CEO Miguel Martin was at the helm for the entire time. On Dec. 16, the company said that while it expects to report an improvement on the adjusted EBITDA metric in fiscal Q2, due to a change in strategy to focus more on consumer packaged goods, it would once again be a negative number. This is a change in direction; under previous leadership, the company launched Daily Special, a value brand that focused on a low price point, seeking to be more competitive with the black market. | This month, Aurora Cannabis (NYSE: ACB) will release earnings for its second quarter in fiscal year 2021 -- the first quarter during which new CEO Miguel Martin was at the helm for the entire time. During theearnings callfor fiscal 2019's third quarter, management said the company was on track to post a positive EBITDA for the fiscal fourth quarter. However, that still shouldn't excuse the company from showing some improvements in the upcoming report, as struggling sales numbers and a weak bottom line aren't new problems for Aurora, and they're issues Martin would have been well aware of when taking over as CEO. | This month, Aurora Cannabis (NYSE: ACB) will release earnings for its second quarter in fiscal year 2021 -- the first quarter during which new CEO Miguel Martin was at the helm for the entire time. Positive adjusted EBITDA -- often promised, never delivered The key thing investors will be looking at in the results for the quarter, which ended on Dec. 31, is the bottom line -- adjusted EBITDA, specifically. During theearnings callfor fiscal 2019's third quarter, management said the company was on track to post a positive EBITDA for the fiscal fourth quarter. | This month, Aurora Cannabis (NYSE: ACB) will release earnings for its second quarter in fiscal year 2021 -- the first quarter during which new CEO Miguel Martin was at the helm for the entire time. Positive adjusted EBITDA -- often promised, never delivered The key thing investors will be looking at in the results for the quarter, which ended on Dec. 31, is the bottom line -- adjusted EBITDA, specifically. The bottom line isn't the only issue Another problem is that Aurora is struggling to grow its sales. |
36925.0 | 2021-02-04 00:00:00 UTC | MMNFF Stock: Why Cannabis Play MedMen Is Soaring Today | ACB | https://www.nasdaq.com/articles/mmnff-stock%3A-why-cannabis-play-medmen-is-soaring-today-2021-02-04 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Penny stock MedMen (OTCMKTS:MMNFF) is up more than 40% in intraday trading today, one of a number of cannabis stocks surging after Democratic senators said they would make marijuana reform a legislative priority.
Source: Shutterstock
The surge in price comes on the back of heavy trade volume. MMNFF typically sees 5.6 million shares traded per day; today, that number is already over 47 million and still climbing, an increase of more than 830%. Part of that trading volume may be due to a morning mention on CNBC.
MedMen is a marijuana retailer with a market capitalization of $122 million and operations in six states across the U.S. Currently, 14 states have legalized recreational marijuana and even more have given the go-ahead for medical. Polling indicates a majority of Americans are in favor of legalization, and federal decriminalization would be a huge catalyst not just for MMNFF, but across the sector
Marijuana investors are likely familiar with names such as Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), Canopy Growth (NASDAQ:CGC) and Cronos (NASDAQ:CRON), all of which were likewise boosted this week on the news out of the Senate. Elsewhere in the sector, Jazz Pharmaceuticals (NASDAQ:JAZZ) announced it would be acquiring GW Pharmaceuticals (NASDAQ:GWPH), a good omen for cannabis bulls: GWPH stock was up more than 45% on the news yesterday.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The post MMNFF Stock: Why Cannabis Play MedMen Is Soaring Today appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Polling indicates a majority of Americans are in favor of legalization, and federal decriminalization would be a huge catalyst not just for MMNFF, but across the sector Marijuana investors are likely familiar with names such as Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), Canopy Growth (NASDAQ:CGC) and Cronos (NASDAQ:CRON), all of which were likewise boosted this week on the news out of the Senate. On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article. The post MMNFF Stock: Why Cannabis Play MedMen Is Soaring Today appeared first on InvestorPlace. | Polling indicates a majority of Americans are in favor of legalization, and federal decriminalization would be a huge catalyst not just for MMNFF, but across the sector Marijuana investors are likely familiar with names such as Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), Canopy Growth (NASDAQ:CGC) and Cronos (NASDAQ:CRON), all of which were likewise boosted this week on the news out of the Senate. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Penny stock MedMen (OTCMKTS:MMNFF) is up more than 40% in intraday trading today, one of a number of cannabis stocks surging after Democratic senators said they would make marijuana reform a legislative priority. Elsewhere in the sector, Jazz Pharmaceuticals (NASDAQ:JAZZ) announced it would be acquiring GW Pharmaceuticals (NASDAQ:GWPH), a good omen for cannabis bulls: GWPH stock was up more than 45% on the news yesterday. | Polling indicates a majority of Americans are in favor of legalization, and federal decriminalization would be a huge catalyst not just for MMNFF, but across the sector Marijuana investors are likely familiar with names such as Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), Canopy Growth (NASDAQ:CGC) and Cronos (NASDAQ:CRON), all of which were likewise boosted this week on the news out of the Senate. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Penny stock MedMen (OTCMKTS:MMNFF) is up more than 40% in intraday trading today, one of a number of cannabis stocks surging after Democratic senators said they would make marijuana reform a legislative priority. Elsewhere in the sector, Jazz Pharmaceuticals (NASDAQ:JAZZ) announced it would be acquiring GW Pharmaceuticals (NASDAQ:GWPH), a good omen for cannabis bulls: GWPH stock was up more than 45% on the news yesterday. | Polling indicates a majority of Americans are in favor of legalization, and federal decriminalization would be a huge catalyst not just for MMNFF, but across the sector Marijuana investors are likely familiar with names such as Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), Canopy Growth (NASDAQ:CGC) and Cronos (NASDAQ:CRON), all of which were likewise boosted this week on the news out of the Senate. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Penny stock MedMen (OTCMKTS:MMNFF) is up more than 40% in intraday trading today, one of a number of cannabis stocks surging after Democratic senators said they would make marijuana reform a legislative priority. Source: Shutterstock The surge in price comes on the back of heavy trade volume. |
36926.0 | 2021-02-04 00:00:00 UTC | 3 Things to Watch for When Canopy Growth Releases Earnings This Month | ACB | https://www.nasdaq.com/articles/3-things-to-watch-for-when-canopy-growth-releases-earnings-this-month-2021-02-04 | nan | nan | Canopy Growth (NASDAQ: CGC) releases its third quarter results on Feb. 9, and it's shaping up to be a big day for the company. The Canadian marijuana producer has been homing in on the edibles market, launching a variety of new products in recent months, including products under the Martha Stewart brand. CEO David Klein has now been in charge of the company for over a year, and with many cuts and layoffs since he took over, the pressure will be on for investors to start seeing some significant cost savings. There are many things to watch for when Canopy Growth releases earnings, but let's focus on three of the most important.
Image source: Getty Images.
1. Cannabis 2.0 sales
The cannabis 2.0 segment includes edibles, beverages, and vape products. It's an area that investors expect Canopy Growth to dominate. Prior to Klein's arrival, outgoing CEO Mark Zekulin said that the company had as many as 50 edibles products in its pipeline. But regardless of how many products it has today, what matters is the sales numbers that they generate. And heading into earnings, there's concern things are not going as well as they should be. Auxly Cannabis claimed in a Jan. 20 press release that it was the top-selling producer in the cannabis 2.0 market in 2020, according to data from Headset, commanding a 14% market share.
In Canopy Growth's most recent results, released on Nov. 9, 2020, sales from the cannabis 2.0 market were 8.7 million Canadian dollars for the second quarter and period ending Sept. 30, 2020. It's still a fairly small part of its total revenue (6.4%), but it could help drive a lot of growth for Canopy Growth if successful.
In 2019, Deloitte projected the market for edibles and other infused products could be worth CA$2.7 billion. And according to BDSA, in the U.S., the product categories that make up the cannabis 2.0 segment in Canada account for 50% of revenue. Edibles are shaping up to constitute a big segment of the market, and it'll be imperative for Canopy Growth to command that area if it wants to remain a top pot stock in the minds of investors.
2. Adjusted EBITDA
Canopy Growth has been busy slashing jobs and shutting down plants over the past year, and that should bring down costs. In December 2020, it announced the closure of five locations in Canada that, along with 220 employee layoffs, would save potentially CA$200 million in costs on an annual basis. That's in addition to closures it announced earlier in the year, slashing 500 jobs in March and another 200 in April. Canopy Growth did say it will incur up to CA$400 million in expenses in its upcoming two quarters as a result of its recent plant closures, but those costs will likely be excluded from its adjusted EBITDA calculation.
In the second quarter, Canopy Growth reported an adjusted EBITDA loss of CA$85.7 million, which was an improvement from the prior-year period when it incurred a loss of CA$150.4 million. It was also better than the first quarter, during which the company's adjusted EBITDA was negative CA$92.2 million for the period ending June 30, 2020.
But those modest improvements may not be enough. Rival Aphria regularly produces positive adjusted EBITDA numbers and Aurora Cannabis is also aiming to break even in its upcoming quarter. The pressure is going to be on for Canopy Growth to strengthen its bottom line and get closer to being in the black alongside its peers. If that doesn't happen, it could turn investors off and send the stock into a nosedive.
3. Cash
Cash is always a key consideration for any cannabis company. It's needed to facilitate growth and ensure a company doesn't resort to shares issuances, subsequently diluting its owners. Thankfully, Canopy Growth has an influx of cash due to its partnership with beer maker Constellation Brands, which owns 38.6% of the business and invested $4 billion into the company in 2018.
However, as of Sept. 30, 2020, Canopy Growth's cash balance was down to CA$673.3 million and short-term investments totaled CA$1 billion. In the six-month period up until then, it burned through CA$280.3 million from its day-to-day operating activities.
Cash isn't a huge concern for Canopy Growth right now. But if its cash burn doesn't improve, it could become a bigger sticking point with investors down the road. And while it does have Constellation there to help if it needs financial support, a lack of positive cash flow could make things difficult, especially given Canopy Growth's ambitious goal of eventually expanding into the U.S. market. It already has a deal in place with Acreage Holdings that it will be able to complete when legalization takes place. If the company's CEO is right and Canopy Growth is operating in the U.S. within a year, it's going to need to be in better shape financially; otherwise, the cash burn could quickly get out of hand.
Is Canopy Growth a buy today?
In the past 12 months, shares of Canopy Growth have soared more than 98% while the Horizons Marijuana Life Sciences ETF is up around 57%. But if the company isn't able to deliver on the three areas noted above, the pot stock could quickly plunge and lose some of these recent gains.
Although there's plenty of potential in its future, there are also many question marks for Canopy Growth. And until it can answer some of them and prove that the moves it has been making over the past year are paying off, this is still a stock I'd steer clear of.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
David Jagielski has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool recommends Auxly Cannabis Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Edibles are shaping up to constitute a big segment of the market, and it'll be imperative for Canopy Growth to command that area if it wants to remain a top pot stock in the minds of investors. Canopy Growth did say it will incur up to CA$400 million in expenses in its upcoming two quarters as a result of its recent plant closures, but those costs will likely be excluded from its adjusted EBITDA calculation. And while it does have Constellation there to help if it needs financial support, a lack of positive cash flow could make things difficult, especially given Canopy Growth's ambitious goal of eventually expanding into the U.S. market. | In Canopy Growth's most recent results, released on Nov. 9, 2020, sales from the cannabis 2.0 market were 8.7 million Canadian dollars for the second quarter and period ending Sept. 30, 2020. Adjusted EBITDA Canopy Growth has been busy slashing jobs and shutting down plants over the past year, and that should bring down costs. In the second quarter, Canopy Growth reported an adjusted EBITDA loss of CA$85.7 million, which was an improvement from the prior-year period when it incurred a loss of CA$150.4 million. | In Canopy Growth's most recent results, released on Nov. 9, 2020, sales from the cannabis 2.0 market were 8.7 million Canadian dollars for the second quarter and period ending Sept. 30, 2020. Canopy Growth did say it will incur up to CA$400 million in expenses in its upcoming two quarters as a result of its recent plant closures, but those costs will likely be excluded from its adjusted EBITDA calculation. In the second quarter, Canopy Growth reported an adjusted EBITDA loss of CA$85.7 million, which was an improvement from the prior-year period when it incurred a loss of CA$150.4 million. | Cannabis 2.0 sales The cannabis 2.0 segment includes edibles, beverages, and vape products. Adjusted EBITDA Canopy Growth has been busy slashing jobs and shutting down plants over the past year, and that should bring down costs. However, as of Sept. 30, 2020, Canopy Growth's cash balance was down to CA$673.3 million and short-term investments totaled CA$1 billion. |
36927.0 | 2021-02-03 00:00:00 UTC | CANADA STOCKS - TSX rises 0.15% to 17,901.25 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.15-to-17901.25-2021-02-03 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.15 percent to 17,901.25
* Leading the index were ATS Automation Tooling Systems Inc , up 14.1%, Aphria Inc APHA.TO, up 12.2%, and MEG Energy Corp MEG.TO, higher by 12%.
* Lagging shares were Boyd Group Services Inc BYD.TO, down 3.6%, NFI Group Inc NFI.TO, down 3.5%, and Silvercorp Metals Inc SVM.TO, lower by 3.3%.
* On the TSX 118 issues rose and 100 fell as a 1.2-to-1 ratio favored advancers. There were 10 new highs and no new lows, with total volume of 191.9 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO.
* The TSX's energy group .SPTTEN rose 3.16 points, or 3.4%, while the financials sector .SPTTFS climbed 0.20 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 rose 1.88%, or $1.03, to $55.79 a barrel. Brent crude LCOc1 rose 1.84%, or $1.06, to $58.52 O/R
* The TSX is up 2.7% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 0.15 percent to 17,901.25 * Leading the index were ATS Automation Tooling Systems Inc , up 14.1%, Aphria Inc APHA.TO, up 12.2%, and MEG Energy Corp MEG.TO, higher by 12%. * West Texas Intermediate crude futures CLc1 rose 1.88%, or $1.03, to $55.79 a barrel. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The TSX's energy group .SPTTEN rose 3.16 points, or 3.4%, while the financials sector .SPTTFS climbed 0.20 points, or 0.1%. Brent crude LCOc1 rose 1.84%, or $1.06, to $58.52 O/R * The TSX is up 2.7% for the year. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 0.15 percent to 17,901.25 * Leading the index were ATS Automation Tooling Systems Inc , up 14.1%, Aphria Inc APHA.TO, up 12.2%, and MEG Energy Corp MEG.TO, higher by 12%. * Lagging shares were Boyd Group Services Inc BYD.TO, down 3.6%, NFI Group Inc NFI.TO, down 3.5%, and Silvercorp Metals Inc SVM.TO, lower by 3.3%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 0.15 percent to 17,901.25 * Leading the index were ATS Automation Tooling Systems Inc , up 14.1%, Aphria Inc APHA.TO, up 12.2%, and MEG Energy Corp MEG.TO, higher by 12%. * Lagging shares were Boyd Group Services Inc BYD.TO, down 3.6%, NFI Group Inc NFI.TO, down 3.5%, and Silvercorp Metals Inc SVM.TO, lower by 3.3%. |
36928.0 | 2021-02-03 00:00:00 UTC | 1 Crucial Factor for Cannabis Investors to Look At | ACB | https://www.nasdaq.com/articles/1-crucial-factor-for-cannabis-investors-to-look-at-2021-02-03 | nan | nan | In the marijuana industry, there's one financial aspect every investor should always, but always, set high on their list of priorities when evaluating the sector's stocks.
Veteran Fool contributor Eric Volkman reveals the what, and talks about why, in this Motley Fool Live conversation with healthcare and cannabis bureau chief Corinne Cardina recorded on Dec. 22.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Corinne Cardina: What is one tip for cannabis investors going into 2021, what do you think?
Eric Volkman: I think you always want to as an investor, you'll always want to look at how a company is managing its cash.
Cash is a very precious resource in cannabis, and there's just not enough of it. Because cannabis companies constantly make losses, their cash position is always constantly being leeched. So, the more effective management teams are having some success in managing that cash.
You want to look at how cash is draining away, where it's going, are they investing in sensible things that have the potential to pay off, at best, in the mid-term? We were talking about Aurora Cannabis (NYSE: ACB), and their strategy [of] international expansion. They plowed a lot of capital into that for something that's, again I don't think, going to pay off for years and years at best. I think you don't want to be involved with stocks like that.
I think you want to look at companies that might have more modest expectations and ambitions. And if they are scaling up, they're doing it slowly, they're doing it carefully, they're not burning a lot of cash.
As a codicil to that, I would say, you mentioned Aurora and their reverse stock split. Hexo (NYSE: HEXO) did that too, or is in the process of doing that. That's also a red flag, an operation like that, because the reverse stock split in almost every instance -- and definitely in those two instances -- it's basically to save the stock's listing on an exchange.
In Hexo's case it's the New York Stock Exchange, because the New York Stock Exchange requires their stocks to trade -- I think it's like a 30-day trailing, moving average -- above $1 per share. If you have a stock that gets to that level, that's pretty desperate. It's a company that's struggling, it's a company that has done certain things that aren't right.
Look at not only how companies are spending their cash, but how they're managing their shares and how they're managing their finances. Or managing their financing, I should say.
It's been very common, especially this past year, for companies to make secondary share issues. The problem with that, of course, is that, if they do that to any significant degree, it's a heck of a big level of shareholder dilution. Your shares, if you're an investor, [their value] becomes less and less and less... You get less of a percentage of earnings with each share that you hold.
Look at how they're doing financing. It's inevitable, most marijuana companies are going to have to go to the well, either in terms of loans or in terms of share issues, or a combination of the two -- like for example, in convertible shares. But you want to keep an eye on how careful they're being, whether it's haphazard and reckless, whether it's considered and they have like an actual plan for how they're going to deploy that capital.
Yeah, that would be as an investor, as somebody looking at the sector, these factors would be foremost in my mind, and I would recommend that to anybody.
Corinne Cardina has no position in any of the stocks mentioned. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We were talking about Aurora Cannabis (NYSE: ACB), and their strategy [of] international expansion. In the marijuana industry, there's one financial aspect every investor should always, but always, set high on their list of priorities when evaluating the sector's stocks. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. | We were talking about Aurora Cannabis (NYSE: ACB), and their strategy [of] international expansion. Because cannabis companies constantly make losses, their cash position is always constantly being leeched. In Hexo's case it's the New York Stock Exchange, because the New York Stock Exchange requires their stocks to trade -- I think it's like a 30-day trailing, moving average -- above $1 per share. | We were talking about Aurora Cannabis (NYSE: ACB), and their strategy [of] international expansion. Eric Volkman: I think you always want to as an investor, you'll always want to look at how a company is managing its cash. In Hexo's case it's the New York Stock Exchange, because the New York Stock Exchange requires their stocks to trade -- I think it's like a 30-day trailing, moving average -- above $1 per share. | We were talking about Aurora Cannabis (NYSE: ACB), and their strategy [of] international expansion. Eric Volkman: I think you always want to as an investor, you'll always want to look at how a company is managing its cash. They plowed a lot of capital into that for something that's, again I don't think, going to pay off for years and years at best. |
36929.0 | 2021-02-03 00:00:00 UTC | Why Tilray, Aphria, OrganiGram, and Aurora Cannabis Rose Today | ACB | https://www.nasdaq.com/articles/why-tilray-aphria-organigram-and-aurora-cannabis-rose-today-2021-02-03 | nan | nan | What happened
Shares of marijuana stocks are rising on Wednesday after recent comments from several prominent politicians regarding reform legislation. As of 12:15 p.m. EST, shares of these Canadian growers were all higher:
Tilray (NASDAQ: TLRY), up 16%;
Aphria (NASDAQ: APHA), up 14%;
OrganiGram Holdings (NASDAQ: OGI), up 16%; and
Aurora Cannabis (NYSE: ACB), up 8%.
So what
Investors are bidding up shares after several Democratic senators released a joint statement on Monday signaling plans to pursue new legislation to reform regulations in the United States. Canadian growers need federal legalization in the U.S. to be able to develop business across the border.
Image source: Getty Images.
Now what
Sens. Cory Booker of New Jersey and Ron Wyden of Oregon joined Senate Majority Leader Chuck Schumer of New York in releasing a statement this week on cannabis reform legislation. The statement said they will target "comprehensive cannabis reform legislation" in the current congressional session.
Momentum for marijuana legislation has been growing at the state level. Currently, 15 states and the District of Columbia have legalized recreational marijuana for adult use, and 36 states have legalized medical marijuana.
But Canadian growers need federal legislation to integrate their businesses in the U.S. Recent initiatives by Aphria and Tilray have prepared the companies for the possibility. Aphria acquired U.S. craft brewer SweetWater Brewing late last year, and then announced it will merge with Tilray, creating the largest global cannabis company by revenue. A move into the U.S. could provide the newly combined company with a large new runway for growth.
Aurora Cannabis has been struggling more than many of its peers. Management has been trying to improve the company's business fundamentals since it launched a transformation plan early in 2020. The goals are to reduce expenses, better scrutinize capital expenditures, and improve the balance sheet with the goal of attaining profitability. Access to the U.S. market would be a welcome addition to the turnaround.
OrganiGram is currently on a better path than Aurora, as it reported net revenue up 25% in the most recently reported quarter versus the prior-year quarter. OrganiGram also has a more flexible operation to help control costs. It operates a single cultivation facility, in Moncton, New Brunswick.
The trio of senators said that the marijuana laws are unfair to certain populations in the U.S., particularly those of color. In the statement they said, "Ending the federal marijuana prohibition is necessary to right the wrongs of this failed war [on drugs] and end decades of harm inflicted on communities of color across the country."
Marijuana investors would welcome a change in legislation, as today's stock moves are showing.
10 stocks we like better than Tilray, Inc.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends OrganiGram Holdings. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As of 12:15 p.m. EST, shares of these Canadian growers were all higher: Tilray (NASDAQ: TLRY), up 16%; Aphria (NASDAQ: APHA), up 14%; OrganiGram Holdings (NASDAQ: OGI), up 16%; and Aurora Cannabis (NYSE: ACB), up 8%. So what Investors are bidding up shares after several Democratic senators released a joint statement on Monday signaling plans to pursue new legislation to reform regulations in the United States. Cory Booker of New Jersey and Ron Wyden of Oregon joined Senate Majority Leader Chuck Schumer of New York in releasing a statement this week on cannabis reform legislation. | As of 12:15 p.m. EST, shares of these Canadian growers were all higher: Tilray (NASDAQ: TLRY), up 16%; Aphria (NASDAQ: APHA), up 14%; OrganiGram Holdings (NASDAQ: OGI), up 16%; and Aurora Cannabis (NYSE: ACB), up 8%. Canadian growers need federal legalization in the U.S. to be able to develop business across the border. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | As of 12:15 p.m. EST, shares of these Canadian growers were all higher: Tilray (NASDAQ: TLRY), up 16%; Aphria (NASDAQ: APHA), up 14%; OrganiGram Holdings (NASDAQ: OGI), up 16%; and Aurora Cannabis (NYSE: ACB), up 8%. What happened Shares of marijuana stocks are rising on Wednesday after recent comments from several prominent politicians regarding reform legislation. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Howard Smith has no position in any of the stocks mentioned. | As of 12:15 p.m. EST, shares of these Canadian growers were all higher: Tilray (NASDAQ: TLRY), up 16%; Aphria (NASDAQ: APHA), up 14%; OrganiGram Holdings (NASDAQ: OGI), up 16%; and Aurora Cannabis (NYSE: ACB), up 8%. Marijuana investors would welcome a change in legislation, as today's stock moves are showing. 10 stocks we like better than Tilray, Inc. |
36930.0 | 2021-02-03 00:00:00 UTC | Pot Stocks Are Wednesday's Big Stock Market Winners. Will They Disappoint Shareholders in the End? | ACB | https://www.nasdaq.com/articles/pot-stocks-are-wednesdays-big-stock-market-winners.-will-they-disappoint-shareholders-in | nan | nan | Wednesday brought a lull for the stock market, as Wall Street consolidated its gains following extremely strong gains on Monday and Tuesday. As of just before noon EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 38 points to 30,649. The S&P 500 (SNPINDEX: ^GSPC) rose six points to 3,832, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved higher by 28 points to 13,640.
In general, the action in the stock market was relatively quiet. But that was definitely not the case for marijuana stocks, which posted some amazing gains. Let's look more closely at the cannabis industry and what caused investors to be so bullish on Wednesday.
Big gains for big pot stocks
The industry's leaders saw impressive gains in their share prices. Aurora Cannabis (NYSE: ACB) was higher by 8%, while Canopy Growth (NASDAQ: CGC) weighed in with a 6% gain. Cronos Group (NASDAQ: CRON) fared even better, rising 9%. Topping the list of top stocks were Tilray (NASDAQ: TLRY), up 16%, and Aphria (NASDAQ: APHA), climbing 15%, as the two prepare to merge.
Image source: Getty Images.
Excitement in the space was prompted, in part, by some merger and acquisition activity. Jazz Phamaceuticals (NASDAQ: JAZZ) announced that it would acquire cannabinoid drug specialist GW Pharmaceuticals (NASDAQ: GWPH) in a deal worth $7.2 billion. According to the terms of the deal, GW investors will receive $220 per share in cash, and that sent GW stock higher by 46%.
Some industry followers hope that the trend toward consolidation will continue. Investors have been pleased at the prospects of the Tilray-Aphria combination, which would create the largest cannabis company by revenue. Other big players could benefit from synergies, and having fewer major players could reduce competitive pressures and improve pricing power.
Marijuana gets a little help from its friends -- in Washington
Meanwhile, another source of the pot-stock push came from legislators in Congress. Senate majority leader Chuck Schumer (D-N.Y.) and other lawmakers announced earlier this week that they would spearhead efforts to jump-start cannabis reform early in 2021. The move follows through on expectations that many marijuana investors had when control of the Senate changed hands following the most recent national elections.
The priority for most pot stocks would be to decriminalize marijuana at the federal level. Even though some companies have been able to operate under accommodative state laws, the fact that federal restrictions remain makes it far harder to run cannabis businesses efficiently. Simple things like business banking are difficult or even impossible under current federal legal restrictions. Even if Congress did nothing more than just get out of the way and let states decide for themselves without federal intervention, it could open the playing field to both global cannabis companies and local players.
Some see federal legalization as a potential source of tax revenue for the government, which would help to narrow large deficits. Yet investors should expect a host of U.S. companies to step up to the plate, challenging Canadian leaders like Aurora and Canopy and creating a whole new competitive dynamic. It may well be that pot legalization will become a case of being careful what you wish for.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) was higher by 8%, while Canopy Growth (NASDAQ: CGC) weighed in with a 6% gain. Senate majority leader Chuck Schumer (D-N.Y.) and other lawmakers announced earlier this week that they would spearhead efforts to jump-start cannabis reform early in 2021. Even though some companies have been able to operate under accommodative state laws, the fact that federal restrictions remain makes it far harder to run cannabis businesses efficiently. | Aurora Cannabis (NYSE: ACB) was higher by 8%, while Canopy Growth (NASDAQ: CGC) weighed in with a 6% gain. Big gains for big pot stocks The industry's leaders saw impressive gains in their share prices. Jazz Phamaceuticals (NASDAQ: JAZZ) announced that it would acquire cannabinoid drug specialist GW Pharmaceuticals (NASDAQ: GWPH) in a deal worth $7.2 billion. | Aurora Cannabis (NYSE: ACB) was higher by 8%, while Canopy Growth (NASDAQ: CGC) weighed in with a 6% gain. Big gains for big pot stocks The industry's leaders saw impressive gains in their share prices. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. | Aurora Cannabis (NYSE: ACB) was higher by 8%, while Canopy Growth (NASDAQ: CGC) weighed in with a 6% gain. Big gains for big pot stocks The industry's leaders saw impressive gains in their share prices. Yet investors should expect a host of U.S. companies to step up to the plate, challenging Canadian leaders like Aurora and Canopy and creating a whole new competitive dynamic. |
36931.0 | 2021-02-03 00:00:00 UTC | Cannabis Stocks: Why TLRY, ACB, CGC, APHA and SNDL Stocks Are Surging Wednesday | ACB | https://www.nasdaq.com/articles/cannabis-stocks%3A-why-tlry-acb-cgc-apha-and-sndl-stocks-are-surging-wednesday-2021-02-03 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Cannabis stocks are heading higher on Wednesday as investors hope for the national legalization of the drug.
Source: Shutterstock
The positive movement for cannabis stocks comes as Senate Majority Leader Chuck Schumer calls for new legislation that would decriminalize marijuana. The politician also wants legislation “that will lift up people who were unfairly targeted in the War on Drugs.”
While there’s been talk of national legalization of marijuana in the past, it’s never come to fruition. However, that could change with Democrats in control of the Senate. Adding to that is some Republication Senators supporting legalization of the durg,
If this all works out, it could result in President Joe Biden signing a bill on marijuana. The President has previously said he doesn’t support full legalization but would be up for letting states decide. That means any legislation from Congress will likely go this route, reports MarketWatch.
7 Blue Chip Stocks to Help Prepare For Your Retirement
With this recent news in mind, it only makes sense that cannabis stocks would be on the rise as investors pick up more shares of the stocks. Those seeing especially strong movement today include Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Canopy Growth (NASDAQ:CGC), Aphria (NASDAQ:APHA), and Sundial Growers (NASDAQ:SNDL).
TLRY stock was up 18.2%, ACB stock was up 7.6%, CGC stock was up 7.2%, APHA stock was up 14.8%, and SNDL stock was up 23.1% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The post Cannabis Stocks: Why TLRY, ACB, CGC, APHA and SNDL Stocks Are Surging Wednesday appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Those seeing especially strong movement today include Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Canopy Growth (NASDAQ:CGC), Aphria (NASDAQ:APHA), and Sundial Growers (NASDAQ:SNDL). TLRY stock was up 18.2%, ACB stock was up 7.6%, CGC stock was up 7.2%, APHA stock was up 14.8%, and SNDL stock was up 23.1% as of Wednesday morning. The post Cannabis Stocks: Why TLRY, ACB, CGC, APHA and SNDL Stocks Are Surging Wednesday appeared first on InvestorPlace. | Those seeing especially strong movement today include Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Canopy Growth (NASDAQ:CGC), Aphria (NASDAQ:APHA), and Sundial Growers (NASDAQ:SNDL). TLRY stock was up 18.2%, ACB stock was up 7.6%, CGC stock was up 7.2%, APHA stock was up 14.8%, and SNDL stock was up 23.1% as of Wednesday morning. The post Cannabis Stocks: Why TLRY, ACB, CGC, APHA and SNDL Stocks Are Surging Wednesday appeared first on InvestorPlace. | TLRY stock was up 18.2%, ACB stock was up 7.6%, CGC stock was up 7.2%, APHA stock was up 14.8%, and SNDL stock was up 23.1% as of Wednesday morning. Those seeing especially strong movement today include Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Canopy Growth (NASDAQ:CGC), Aphria (NASDAQ:APHA), and Sundial Growers (NASDAQ:SNDL). The post Cannabis Stocks: Why TLRY, ACB, CGC, APHA and SNDL Stocks Are Surging Wednesday appeared first on InvestorPlace. | Those seeing especially strong movement today include Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Canopy Growth (NASDAQ:CGC), Aphria (NASDAQ:APHA), and Sundial Growers (NASDAQ:SNDL). TLRY stock was up 18.2%, ACB stock was up 7.6%, CGC stock was up 7.2%, APHA stock was up 14.8%, and SNDL stock was up 23.1% as of Wednesday morning. The post Cannabis Stocks: Why TLRY, ACB, CGC, APHA and SNDL Stocks Are Surging Wednesday appeared first on InvestorPlace. |
36932.0 | 2021-02-02 00:00:00 UTC | CANADA STOCKS - TSX rises 1.08% to 17,883.36 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-1.08-to-17883.36-2021-02-02 | nan | nan | * The Toronto Stock Exchange's TSX rises 1.08 percent to 17,883.36
* Leading the index were Aphria Inc , up 16.8%, Aurora Cannabis Inc ACB.TO, up 13.4%, and Cronos Group Inc CRON.TO, higher by 10.6%.
* Lagging shares were First Majestic Silver Corp FR.TO, down 25.0%, BlackBerry Ltd BB.TO, down 20.5%, and Silvercorp Metals Inc SVM.TO, lower by 17.8%.
* On the TSX 139 issues rose and 79 fell as a 1.8-to-1 ratio favored advancers. There were 11 new highs and no new lows, with total volume of 186.3 million shares.
* The most heavily traded shares by volume were Blackberry Ltd BB.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO.
* The TSX's energy group .SPTTEN rose 0.40 points, or 0.4%, while the financials sector .SPTTFS climbed 3.64 points, or 1.2%.
* West Texas Intermediate crude futures CLc1 rose 2.41%, or $1.29, to $54.82 a barrel. Brent crude LCOc1 rose 2.18%, or $1.25, to $57.58 O/R
* The TSX is up 2.6% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The Toronto Stock Exchange's TSX rises 1.08 percent to 17,883.36 * Leading the index were Aphria Inc , up 16.8%, Aurora Cannabis Inc ACB.TO, up 13.4%, and Cronos Group Inc CRON.TO, higher by 10.6%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * Lagging shares were First Majestic Silver Corp FR.TO, down 25.0%, BlackBerry Ltd BB.TO, down 20.5%, and Silvercorp Metals Inc SVM.TO, lower by 17.8%. | * The Toronto Stock Exchange's TSX rises 1.08 percent to 17,883.36 * Leading the index were Aphria Inc , up 16.8%, Aurora Cannabis Inc ACB.TO, up 13.4%, and Cronos Group Inc CRON.TO, higher by 10.6%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The TSX's energy group .SPTTEN rose 0.40 points, or 0.4%, while the financials sector .SPTTFS climbed 3.64 points, or 1.2%. | * The Toronto Stock Exchange's TSX rises 1.08 percent to 17,883.36 * Leading the index were Aphria Inc , up 16.8%, Aurora Cannabis Inc ACB.TO, up 13.4%, and Cronos Group Inc CRON.TO, higher by 10.6%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The TSX's energy group .SPTTEN rose 0.40 points, or 0.4%, while the financials sector .SPTTFS climbed 3.64 points, or 1.2%. | * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 1.08 percent to 17,883.36 * Leading the index were Aphria Inc , up 16.8%, Aurora Cannabis Inc ACB.TO, up 13.4%, and Cronos Group Inc CRON.TO, higher by 10.6%. * On the TSX 139 issues rose and 79 fell as a 1.8-to-1 ratio favored advancers. |
36933.0 | 2021-02-02 00:00:00 UTC | Why Marijuana Stocks Glowed Green Today | ACB | https://www.nasdaq.com/articles/why-marijuana-stocks-glowed-green-today-2021-02-02 | nan | nan | What happened
Three United States senators announced yesterday evening that they will push to end the outlawing of cannabis and begin the process of legalizing marijuana at the federal level this year.
Shares of major marijuana stocks including Canopy Growth (NASDAQ: CGC), Aurora Cannabis (NYSE: ACB), Cronos (NASDAQ: CRON), and Clever Leaves Holdings (NASDAQ: CLVR) leapt on the news Tuesday, up 5.5%, 10.1%, 10.9%, and 18.6% (!), respectively, as of early afternoon.
Image source: Getty Images.
So what
It's finally happening (maybe): marijuana legalization at the federal level. As CNBC reports, Sens. Ron Wyden of Oregon and Cory Booker of New Jersey -- two states where marijuana is, or soon will be, legal for recreational use -- joined Senate Majority Leader Chuck Schumer last night to declare that "the War on Drugs has been a war on people -- particularly people of color," framing the case for marijuana legalization as a case for social justice.
Together, the three senators promised to "push to pass this year sweeping legislation that would end the federal prohibition on marijuana," reports CNBC, which adds that a recent Gallup poll shows 68% of Americans now favor full legalization.
The senators are furthermore promising to introduce "a unified discussion draft on comprehensive reform" of marijuana laws early this year.
Now what
Marijuana is already legal in one form or another in a large majority of U.S. states. The main problem at this point is that it remains technically il-legal at the federal level, a fact that has banks unwilling to lend or extend other basic banking services to marijuana companies, and has Canadian cannabis companies such as Aurora Cannabis, Canopy Growth, and Cronos afraid of entering the market.
Legalization promises to allay those fears, even as it makes the marijuana business both easier to enter and more profitable for those who do enter into it, across the U.S. While the timeline for legalization remains uncertain, the ball's at the top of the hill, and the senators are starting to get it rolling. Where it goes from here seems inevitable.
10 stocks we like better than Canopy Growth Corp.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shares of major marijuana stocks including Canopy Growth (NASDAQ: CGC), Aurora Cannabis (NYSE: ACB), Cronos (NASDAQ: CRON), and Clever Leaves Holdings (NASDAQ: CLVR) leapt on the news Tuesday, up 5.5%, 10.1%, 10.9%, and 18.6% (! What happened Three United States senators announced yesterday evening that they will push to end the outlawing of cannabis and begin the process of legalizing marijuana at the federal level this year. Ron Wyden of Oregon and Cory Booker of New Jersey -- two states where marijuana is, or soon will be, legal for recreational use -- joined Senate Majority Leader Chuck Schumer last night to declare that "the War on Drugs has been a war on people -- particularly people of color," framing the case for marijuana legalization as a case for social justice. | Shares of major marijuana stocks including Canopy Growth (NASDAQ: CGC), Aurora Cannabis (NYSE: ACB), Cronos (NASDAQ: CRON), and Clever Leaves Holdings (NASDAQ: CLVR) leapt on the news Tuesday, up 5.5%, 10.1%, 10.9%, and 18.6% (! What happened Three United States senators announced yesterday evening that they will push to end the outlawing of cannabis and begin the process of legalizing marijuana at the federal level this year. The main problem at this point is that it remains technically il-legal at the federal level, a fact that has banks unwilling to lend or extend other basic banking services to marijuana companies, and has Canadian cannabis companies such as Aurora Cannabis, Canopy Growth, and Cronos afraid of entering the market. | Shares of major marijuana stocks including Canopy Growth (NASDAQ: CGC), Aurora Cannabis (NYSE: ACB), Cronos (NASDAQ: CRON), and Clever Leaves Holdings (NASDAQ: CLVR) leapt on the news Tuesday, up 5.5%, 10.1%, 10.9%, and 18.6% (! Ron Wyden of Oregon and Cory Booker of New Jersey -- two states where marijuana is, or soon will be, legal for recreational use -- joined Senate Majority Leader Chuck Schumer last night to declare that "the War on Drugs has been a war on people -- particularly people of color," framing the case for marijuana legalization as a case for social justice. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Rich Smith has no position in any of the stocks mentioned. | Shares of major marijuana stocks including Canopy Growth (NASDAQ: CGC), Aurora Cannabis (NYSE: ACB), Cronos (NASDAQ: CRON), and Clever Leaves Holdings (NASDAQ: CLVR) leapt on the news Tuesday, up 5.5%, 10.1%, 10.9%, and 18.6% (! What happened Three United States senators announced yesterday evening that they will push to end the outlawing of cannabis and begin the process of legalizing marijuana at the federal level this year. Together, the three senators promised to "push to pass this year sweeping legislation that would end the federal prohibition on marijuana," reports CNBC, which adds that a recent Gallup poll shows 68% of Americans now favor full legalization. |
36934.0 | 2021-02-01 00:00:00 UTC | 1 Marijuana Stock I'd Avoid at All Costs | ACB | https://www.nasdaq.com/articles/1-marijuana-stock-id-avoid-at-all-costs-2021-02-01 | nan | nan | Despite its popularity with marijuana stock investors, this relatively high-profile pot company has a strategy that hasn't worked and isn't likely to in the future.
Which stock is it? Longtime Fool contributor Eric Volkman reveals this anti-pick in a conversation with Healthcare and Cannabis Bureau Chief Corinne Cardina in this clip from Motley Fool Live recorded on Dec. 22.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Corinne Cardina: What is one pot stock you think investors should probably avoid in 2021?
Eric Volkman: I'm not liking Aurora Cannabis (NYSE: ACB). I don't see a lot of improvement there. That was another company that was really pretty reckless in terms of acquisitions and overpaying, and now it's costing them in terms of the usual [asset] impairments and all that. They are deeply unprofitable.
I think particularly in the wake of the Aphria (NASDAQ: APHA) and Tilray (NASDAQ: TLRY) merger, that whole going for big scale thing, I don't know if it's such a business model that has a lot of legs. Aurora was always clearly going for it.
Aurora's strategy was two-fold. They wanted to build out their production assets to reach economies of scale to where their production would, at least, pay for itself or be profitable. That hasn't happened because every other company is trying to build up, or has been trying to build up their assets, and you have lots of smaller producers too. So I don't see that situation improving, and they still have a lot of growth assets that they're going to need to reconcile or deal with somehow.
Another thing is they were big, and remain big, on international expansion. That's great, that's a wonderful idea and at some point down the road, maybe with this U.N. thing spurring developments, maybe international markets could get big and liberalize, and sell recreational and sell medical.
But for right now the reality is marijuana, really on a global scale, is a non sell. You have full legalization basically in two countries in the world, Canada and Uruguay. Canada is pretty well covered, Uruguay I don't know how much of a market is there.
There are bright spots here and there. We mentioned previously Aprhia, which is active in Germany. Germany has a fairly decent medical market, good demographics, an older population that tends to have money, lots of support from socialized medicine there. But it's not enough to pin a big part of your strategy on, which is what Aurora is doing, they really want to be an international player.
And I don't think that's going to shake out for years at best. Aurora has put a lot of time and energy and resources into that. I don't see that coming, so the two big pillars of their strategy, I think they're very shaky. I don't like Aurora at all. I think they have done some things pretty well, but it's a stock to avoid for me going into [2021].
Corinne Cardina has no position in any of the stocks mentioned. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eric Volkman: I'm not liking Aurora Cannabis (NYSE: ACB). And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. | Eric Volkman: I'm not liking Aurora Cannabis (NYSE: ACB). Despite its popularity with marijuana stock investors, this relatively high-profile pot company has a strategy that hasn't worked and isn't likely to in the future. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | Eric Volkman: I'm not liking Aurora Cannabis (NYSE: ACB). Despite its popularity with marijuana stock investors, this relatively high-profile pot company has a strategy that hasn't worked and isn't likely to in the future. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. | Eric Volkman: I'm not liking Aurora Cannabis (NYSE: ACB). Despite its popularity with marijuana stock investors, this relatively high-profile pot company has a strategy that hasn't worked and isn't likely to in the future. I don't see a lot of improvement there. |
36935.0 | 2021-02-01 00:00:00 UTC | 4 Marijuana Stocks Set for Another Big Increase | ACB | https://www.nasdaq.com/articles/4-marijuana-stocks-set-for-another-big-increase-2021-02-01 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In December, the Democrat-led House quietly passed the MORE Act, otherwise known as the Marijuana Opportunity Reinvestment and Expungement Act. Marijuana stocks, as measured by ETF Horizons Marijuana Life Sciences Index (TSE:HMMJ), rose just 30%.
Wall Street’s sleepy response might go down as one of the biggest underreactions in history. Few people realize that Americans spend $5.8 billion on marijuana products each month, while sales of tobacco products continue to fall. And with the possibility of legal pot tantalizingly near, these small billion-dollar Canadian companies could become the next hundred billion-dollar firms.
Marijuana stocks have long resembled a real-life version of the French play Waiting for Godot. Many frame the Republican leader, Sen. Mitch McConnell, as the villain, but broader resistance from many conservative politicians have stonewalled efforts to move federal legalization forward. Even state and local legislators have fared no better – the tangle of state laws has left marijuana producers and sellers in a state of pseudo-legality.
The Top 7 Hot Stocks to Buy for 2021’s Biggest Trends
Marijuana stocks have suffered the consequences. Barred from doing business at the federal level, companies saw their shares drop up to 95% from their 2018 peaks. And because these companies list on U.S. exchanges, they’re also barred from doing business even in legal marijuana states.
The results of the 2020 election, however, has turned the tide. With Democrats now in control of the Senate, Congress could finally vote on the MORE Act and open the floodgates to the $78 billion-per-year U.S. marijuana market.
In a country that spends almost as much money on marijuana as it does on tobacco, it’s easy to see why cannabis companies could one become worth Philip Morris (NYSE:PM) and Altria’s (NYSE:MO) combined $200 billion value.
So, how to find these winners? Broadly, investors should choose only the strongest players. Just like any other semi-legal industry, the marijuana industry is full of hucksters and frauds. Only the best-run have a lower risk of management running off with your money.
Investors should also recognize how much risk they’re willing to take.
Cannabis producers (farmers/growers): These tend to have both higher financial and operating leverage – while they could rise the most, they’re also likely to go under if the Senate stalls on the MORE Act.
Cannabis marketers (brands/distribution): These offer less upside in the short term, but also have better downside protection. In the long term, they’re the companies most likely to replace Big Tobacco.
To get you started, here are the four marijuana stocks with strong potential.
Canopy Growth (NASDAQ:CGC)
Cronos Group (NASDAQ:CRON)
Tilray (NASDAQ:TLRY)
Aurora Cannabis (NYSE:ACB)
Marijuana Stocks to Buy: Canopy Growth (CGC)
CGC) website is open in an internet browser tab." width="300" height="169">
Source: Jarretera / Shutterstock.com
Canopy Growth has long been the lead dog of marijuana stocks. Owned by parent company Constellation Brands (NYSE:STZ), Canopy has delivered a strong lineup of “Cannabis 2.0” products ranging from chocolates to beverages. The company’s branding efforts have paid off. Its shares are down less than a third from their 2018 peak while the rest of the industry has plummeted.
CGC stock might not be the biggest winner gainer in 2021 – investors price its high-quality shares at a premium. But long term, it’s the company that’s most likely to become the next Philip Morris. Its parent Constellation Brands already owns and distributes Corona, Modelo, Meiomi Wines and Svedka Vodka, among others. And with a comprehensive portfolio of existing products, Canopy can quickly slot into distribution channels as individual states each legalize marijuana.
With a market cap of just $14 billion, Canopy Growth looks vastly undervalued for the potential American market. As the MORE Act moves through the Senate, CGC stock could be worth north of $100.
Cronos (CRON)
ACB) logo in green" width="300" height="169">
Source: ElRoi / Shutterstock.com
In 2019, Altria, the tobacco giant that owns Marlboro, bought 40% of Cronos, a Canadian marijuana company. And though CRON shares have lost 50% from their peak, the company remains one of the most outstanding marijuana stocks. Its six brands and a massive $1.3 billion war chest rivals Canopy Growth in its stability.
Altria’s ownership also adds a layer of safety. The tobacco giant, which also owns vaping company Juul Labs, has long tried to extricate itself from the world of cigarettes. Philip Morris USA, one of Altria’s subsidiaries, has long explored smoke-free alternatives – something unthinkable just a decade ago. So, how can a cigarette company survive without cigarettes?
Cronos provides a way out. With a lineup of CBD infused products, vapes, and old-fashioned marijuana flowers, Cronos could help its aging parent transition to a tobacco-free world.
Tilray (TLRY)
Source: Shutterstock
If you’re looking for a potential short-term winner, Tilray looks like a golden lottery ticket. Its rock-bottom stock price, coupled with high operating leverage, means its shares are poised to take off.
The marijuana grower has been a poster child for marijuana over-optimism. Anticipating U.S. legalization, the company spent almost $200 million expanding in Europe, Canada, Australia and New Zealand. Demand, however, never materialized. With its massive overhead costs, Tilray lost almost $500 million in 2020. This year looks more of the same.
And that’s what makes Tilray stock so interesting. As a producer of lower-priced marijuana, the company sits on a knife’s edge of success and failure. Put another way, when your gross margins are only 7%, even a 10% change in marijuana price can double or wipe out your profits.
In November, I wrote that Tilray could rise to $95 on a Biden win, a 1,500% upside gain. With shares already up 170% since the election, federal legalization can still make this a reality.
Aurora Cannabis (ACB)
ACB) logo on a web page" width="300" height="169">
Source: Jarretera / Shutterstock.com
Wrapping up marijuana stocks for 2021 is Aurora Cannabis, the winner of the dubious “worst overproducer of cannabis” award. Like Tilray, Aurora sits precariously between massive success and total failure.
Aurora was once the most aggressive legal marijuana producers – investors rewarded management handsomely, pushing shares from $4 to almost $130 by 2018. Such joy, however, couldn’t last. As U.S. legalization failed to materialize, ACB stock fell back to earth, wiping out virtually all investor gains. The company has since closed all but four of its 18 production sites.
The MORE Act could help Aurora rise again. As a low-cost producer, Aurora needs high volumes to survive. And if federal legalization happens, shares of this relatively weaker company could easily push $100.
On the date of publication, Tom Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing.
The post 4 Marijuana Stocks Set for Another Big Increase appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Canopy Growth (NASDAQ:CGC) Cronos Group (NASDAQ:CRON) Tilray (NASDAQ:TLRY) Aurora Cannabis (NYSE:ACB) Marijuana Stocks to Buy: Canopy Growth (CGC) CGC) website is open in an internet browser tab." Cronos (CRON) ACB) logo in green" width="300" height="169"> Source: ElRoi / Shutterstock.com In 2019, Altria, the tobacco giant that owns Marlboro, bought 40% of Cronos, a Canadian marijuana company. Aurora Cannabis (ACB) ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com Wrapping up marijuana stocks for 2021 is Aurora Cannabis, the winner of the dubious “worst overproducer of cannabis” award. | Canopy Growth (NASDAQ:CGC) Cronos Group (NASDAQ:CRON) Tilray (NASDAQ:TLRY) Aurora Cannabis (NYSE:ACB) Marijuana Stocks to Buy: Canopy Growth (CGC) CGC) website is open in an internet browser tab." Cronos (CRON) ACB) logo in green" width="300" height="169"> Source: ElRoi / Shutterstock.com In 2019, Altria, the tobacco giant that owns Marlboro, bought 40% of Cronos, a Canadian marijuana company. Aurora Cannabis (ACB) ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com Wrapping up marijuana stocks for 2021 is Aurora Cannabis, the winner of the dubious “worst overproducer of cannabis” award. | Canopy Growth (NASDAQ:CGC) Cronos Group (NASDAQ:CRON) Tilray (NASDAQ:TLRY) Aurora Cannabis (NYSE:ACB) Marijuana Stocks to Buy: Canopy Growth (CGC) CGC) website is open in an internet browser tab." Aurora Cannabis (ACB) ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com Wrapping up marijuana stocks for 2021 is Aurora Cannabis, the winner of the dubious “worst overproducer of cannabis” award. Cronos (CRON) ACB) logo in green" width="300" height="169"> Source: ElRoi / Shutterstock.com In 2019, Altria, the tobacco giant that owns Marlboro, bought 40% of Cronos, a Canadian marijuana company. | Canopy Growth (NASDAQ:CGC) Cronos Group (NASDAQ:CRON) Tilray (NASDAQ:TLRY) Aurora Cannabis (NYSE:ACB) Marijuana Stocks to Buy: Canopy Growth (CGC) CGC) website is open in an internet browser tab." Cronos (CRON) ACB) logo in green" width="300" height="169"> Source: ElRoi / Shutterstock.com In 2019, Altria, the tobacco giant that owns Marlboro, bought 40% of Cronos, a Canadian marijuana company. Aurora Cannabis (ACB) ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com Wrapping up marijuana stocks for 2021 is Aurora Cannabis, the winner of the dubious “worst overproducer of cannabis” award. |
36936.0 | 2021-02-01 00:00:00 UTC | The Top 50 Robinhood Stocks in February | ACB | https://www.nasdaq.com/articles/the-top-50-robinhood-stocks-in-february-2021-02-01 | nan | nan | For the past 11 months, investors have been taken on a historically wild ride. The CBOE Volatility Index hit an all-time high in March 2020, with the broad-based S&P 500 setting records for both the fastest bear market decline and quickest rally back to all-time highs.
Though some investors run from volatility when it arises, Robinhood investors thrive off of it.
Image source: Getty Images.
These are the stocks Robinhood investors can't stop buying
Online investing app Robinhood, which is known for its commission-free trades, fractional-share investing, and gifting of free stock to new users, has been particularly adept at attracting young investors. The app gained approximately 3 million new users in 2020 and has an average user age of only 31.
The thing about millennial and novice investors is that they often don't understand the finer points about compounding and the importance of long-term investing. As a result, many choose to chase penny stocks, momentum plays, and otherwise awful companies.
But don't take my word for it. Here's a snapshot of the 50 most-held Robinhood stocks as we enter February.
COMPANY COMPANY
1. Apple 26. AMD
2. Tesla Motors (NASDAQ: TSLA) 27. Facebook (NASDAQ: FB)
3. NIO 28. Churchill Capital
4. General Electric 29. Zomedica
5. Ford Motor 30. Norwegian Cruise Line
6. Microsoft 31. Canopy Growth
7. Amazon 32. Boeing
8. Walt Disney 33. Palantir Technologies
9. American Airlines Group 34. United Airlines
10. Plug Power (NASDAQ: PLUG) 35. AT&T
11. Pfizer 36. Twitter
12. Aurora Cannabis (NYSE: ACB) 37. OrganiGram Holdings
13. Delta Air Lines 38. Coca-Cola
14. Carnival 39. Blackberry
15. Sundial Growers (NASDAQ: SNDL) 40. Virgin Galactic
16. GoPro 41. Starbucks
17. AMC Entertainment (NYSE: AMC) 42. Cronos Group
18. Aphria 43. Uber Technologies
19. Moderna 44. Zynga
20. Alibaba 45. Nokia
21. Snap 46. NVIDIA
22. Bank of America 47. Ideanomics
23. GameStop (NYSE: GME) 48. Nikola
24. Netflix 49. Vanguard S&P 500 ETF
25. FuelCell Energy 50. Bionano Genomics
Data source: Robinhood (current as of Jan. 28 late evening). Table by author.
"Reddit-raid stocks" are extremely popular
Perhaps the biggest standout in this list is just how quickly the so-called "Reddit-raid stocks" rocketed up Robinhood's leaderboard. By Reddit raid, I'm referring to the recent phenomenon whereby groups of investors on Reddit's "wallstreetbets" community platform band together to buy into stocks that are heavily short-sold in order to create a short squeeze. GameStop, AMC Entertainment, and Blackberry are all companies that weren't on the radar a few weeks ago, but are practically the hottest and most controversial stocks on Wall Street as we enter February.
It's worth noting that it's not clear how much longer we might see GameStop, AMC, or Blackberry stick around on Robinhood's leaderboard. On Thursday, Jan. 28, Robinhood restricted buying activity on a number of Reddit-fueled securities and suggested that it would only allow limited buying activity on Friday, Jan. 29. What I'm trying to say is that this situation is very fluid, and the rankings for these Reddit raid stocks could change wildly in the weeks to come.
One thing I can say with confidence is that what we've seen happen with the share price of GameStop and AMC Entertainment, in particular, isn't going to end well. AMC is less than a week removed from staving off a bankruptcy filing, while GameStop is working on a three-year streak of full-year operating losses and declining sales. These are not stocks that millennial investors should be anywhere near.
Image source: Getty Images.
Alternative energy stocks remain favorites among millennials
Another undeniable trend among millennial investors is their love for eco-friendly energy solutions. In particular, they're head-over-heels in love with electric vehicle (EV) manufacturers and accessory producers, as well as hydrogen fuel-cell companies.
Tesla, which chimes in as the second most-held stock on the platform, briefly overtook Apple for a few days during January as the most widely held Robinhood stock. Even though the company just barely missed CEO Elon Musk's target of 500,000 EV deliveries in 2020 (499,550 reported), it did manage to achieve its first full year of profitability. According to Tesla's September 2020 Battery Day event, its capacity, power, and range should remain superior to its competition.
Beyond just EVs, Robinhood investors are really digging Plug Power. Plug's hydrogen fuel-cell solutions are making a tangible impact in the warehouses of major retailers like Amazon and Walmart, and they hold plenty of application in autos and trucks in the years that lie ahead. Plug Power signed joint ventures with South Korea's SK Group and France's Renault in January.
Although EV and hydrogen fuel-cell stocks look extremely frothy, it hasn't discouraged young investors from buying into alternative energy solutions.
Image source: Getty Images.
Cannabis remains in vogue
At one time, marijuana stocks were the hottest industry on the Robinhood platform. Though that's no longer the case, Canadian pot stocks remain a popular hold for young investors.
Potentially the biggest flaw with Robinhood is that over-the-counter (OTC)-listed stocks can't be purchased. Since higher-quality U.S. pot stocks can't list their shares on major U.S. exchanges, it means Robinhood investors are stuck buying the underperforming Canadian weed stocks, which have been hampered by regulatory issues and supply concerns.
Peruse the list and you'll find six Canadian marijuana stocks among Robinhood's top 50 stocks. What's disappointing is that the two worst of the bunch -- Aurora Cannabis and Sundial Growers -- are the most-held of those six.
Aurora Cannabis greatly overestimated its capacity needs and grossly overpaid for more than a dozen acquisitions since mid-2016. As a result, the company wrote down roughly half the value of its total assets last year. To make matters worse, Aurora Cannabis' outstanding share count has ballooned 12,200% since June 2014, with the company leaning on share offerings to fund buyouts and its day-to-day operations.
Penny stock Sundial is in a similar camp. It's been selling its stock like water and has converted some of its debt to equity. The company's ballooning share count is drowning its existing investors.
Image source: Facebook.
Always room for the FAANGs
Finally, you'll note that Robinhood investors always have room on their plate for the FAANG stocks: Facebook, Apple, Amazon, Netflix, and Google (a subsidiary of Alphabet). Alphabet's Class A shares (GOOGL) can be found on Robinhood's top 100 holding list.
Millennials' love for the FAANGs shouldn't come as a surprise. These are brand-name companies that young investors have grown up with and can relate to. They also have a history of absolutely running circles around the broader market.
For example, Facebook reported its fourth-quarter operating results last week and, as usual, crushed expectations. The leading social media provider now has 2.8 billion monthly active users visiting its namesake website, and 3.3 billion in total visiting its family of assets each month (this includes WhatsApp and Instagram). Advertisers fully understand that they're not going to get access to a broader or more targeted audience than what Facebook can offer.
In a year that saw the steepest recession in decades and a once-in-a-century pandemic, Facebook's ad revenue rose by 21%.
It's figures like these that smartly have Robinhood investors piling into the FAANGs.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Sean Williams owns shares of Amazon, AT&T, Bank of America, and Facebook. The Motley Fool owns shares of and recommends Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Microsoft, Netflix, NVIDIA, OrganiGram Holdings, Starbucks, Tesla, Twitter, Virgin Galactic Holdings Inc, Walt Disney, and Zynga. The Motley Fool owns shares of Palantir Technologies Inc. and Vanguard S&P 500 ETF. The Motley Fool recommends BlackBerry, Carnival, Delta Air Lines, Moderna INC, and Uber Technologies and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) 37. GameStop, AMC Entertainment, and Blackberry are all companies that weren't on the radar a few weeks ago, but are practically the hottest and most controversial stocks on Wall Street as we enter February. Even though the company just barely missed CEO Elon Musk's target of 500,000 EV deliveries in 2020 (499,550 reported), it did manage to achieve its first full year of profitability. | Aurora Cannabis (NYSE: ACB) 37. These are the stocks Robinhood investors can't stop buying Online investing app Robinhood, which is known for its commission-free trades, fractional-share investing, and gifting of free stock to new users, has been particularly adept at attracting young investors. The Motley Fool owns shares of and recommends Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Microsoft, Netflix, NVIDIA, OrganiGram Holdings, Starbucks, Tesla, Twitter, Virgin Galactic Holdings Inc, Walt Disney, and Zynga. | Aurora Cannabis (NYSE: ACB) 37. These are the stocks Robinhood investors can't stop buying Online investing app Robinhood, which is known for its commission-free trades, fractional-share investing, and gifting of free stock to new users, has been particularly adept at attracting young investors. Since higher-quality U.S. pot stocks can't list their shares on major U.S. exchanges, it means Robinhood investors are stuck buying the underperforming Canadian weed stocks, which have been hampered by regulatory issues and supply concerns. | Aurora Cannabis (NYSE: ACB) 37. These are not stocks that millennial investors should be anywhere near. The Motley Fool owns shares of and recommends Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Microsoft, Netflix, NVIDIA, OrganiGram Holdings, Starbucks, Tesla, Twitter, Virgin Galactic Holdings Inc, Walt Disney, and Zynga. |
36937.0 | 2021-01-30 00:00:00 UTC | 3 Top Robinhood Stocks You Shouldn't Buy Until After the Next Market Crash | ACB | https://www.nasdaq.com/articles/3-top-robinhood-stocks-you-shouldnt-buy-until-after-the-next-market-crash-2021-01-30 | nan | nan | When you are trying to decide where to invest your money, it's important to consider a stock's current valuation. Otherwise, you could be limiting your possible returns, and face the risk that the price could substantially drop if it's trading at too high a premium. On Robinhood, a zero-commission trading platform that's popular with many young investors, there are several hot stocks on its Top 100 list today that are grossly overpriced.
Three companies that are good investments (but not at their current valuations) are HEXO (NYSE: HEXO), PayPal (NASDAQ: PYPL), and Tesla (NASDAQ: TSLA). While there may be a good reason to invest in their businesses, their share prices today are just too high. Both Tesla and HEXO have doubled in just the past three months. And that's why you should consider holding off on buying them -- at least until things settle down and their valuations come down to more reasonable levels, perhaps after the next market crash.
Image source: Getty Images.
1. HEXO
HEXO's shares have taken off in 2021. The pot stock is already up more than 70% and soundly outperforming the S&P 500, which is practically flat over the same few weeks. The company announced earlier this month that Truss, its joint venture with Molson Coors, would be launching hemp-derived cannabidiol (CBD) beverages under the brand Veryvell in Colorado. Fresh off the heels of the U.S. election in November and news that four more states would be legalizing recreational marijuana, it's easy to see why investors may have gotten overly bullish on HEXO.
But it hasn't all been good news for the company. This month, the Ontario Cannabis Store announced that it was issuing a voluntary recall on three of HEXO's disposable vape pens.
And there are still questions about how much the company will grow. The company last released its quarterly earnings on Dec. 14, 2020, and sales of 29.4 million Canadian dollars for the period ending Oct. 31, 2020, were only up 8.7% from the previous period. Beverage sales of CA$3.1 million grew 53.7% quarter over quarter, but they were still just a fraction (10.4%) of the company's top line. While investors are optimistic about beverage sales, it may not be enough to justify HEXO's current price tag. When comparing its price-to-sales (P/S) multiple to that of its Canadian peers, HEXO comes out higher than Aurora Cannabis, Aphria, and OrganiGram:
HEXO PS Ratio data by YCharts
Without a sizable correction in share price, Robinhood investors should steer clear of HEXO for now. The stock's rapid ascent in recent months has made it too expensive of a buy, especially given its lackluster sales numbers.
2. PayPal
In the past year, shares of PayPal have nearly doubled while the S&P 500 is up by just 13%. Currently, investors are paying a price-to-earnings (P/E) multiple of more than 80 to buy shares of PayPal. On the Technology Select Sector SPDR Fund, the average stock is at a P/E of just 35. Even the stock's forward P/E of more than 50 is still a steep price for a business that over the last three quarters generated sales growth of just 19.7%.
Normally, investors can ignore a high P/E if there are at least some strong sales numbers behind the growth. And while PayPal is growing at a decent rate, it's not nearly high enough to justify such an enormous price tag. If there's a market crash and its stock comes down, PayPal could be a hot buy for Robinhood investors, especially with the economy potentially moving away from cash amid the pandemic and increasingly toward digital transactions. According to a report from MarketsandMarkets last year, the digital payment market could be worth $154.1 billion by 2025, growing at a compound annual rate of 14.2% until then.
Investing in PayPal would be an excellent way to tap into that growth. In October, the company also announced it would allow its users to buy and sell bitcoin and other cryptocurrencies, opening up the door to even more growth. But until its share price comes down significantly, this isn't a stock that's worth buying right now.
3. Tesla
Tesla's stock has been soaring over the past year, climbing nearly 600%. Pandemic or not, consumers continue to purchase the company's vehicles. And that's led to more bullishness from investors. It also didn't hurt that after posting five straight profits, the stock made its way onto the S&P 500 last month.
There's even more excitement surrounding the stock now that President Biden has taken office, as he is an advocate for cleaner energy. In January, Biden announced that the federal government would replace its entire fleet of vehicles with electric ones.
That, coupled with Tesla's strong results, has made the stock a scorching-hot buy. On Wednesday, the company released its fourth-quarter results for the period ending Dec. 31, 2020, where revenue of $10.74 billion came in ahead of analyst expectations of $10.4 billion. And although its adjusted earnings per share of $0.80 fell short of the $1.03 that Wall Street was expecting, the company stayed in the black for the sixth consecutive period.
But as good as those results are, the stock is just too expensive given the company's relatively light profits. Over the past four quarters, Tesla has reported net income of $721 million on sales of $31.5 billion -- for a profit margin of just 2.3%.
Coming into earnings, shares of Tesla were trading at a mammoth P/E of more than 1,600. And while its profits were $165 million higher than they were a year ago, the bottom line still needs to get a whole lot stronger before this stock is a good buy for its money. For now, investors are better off waiting on the sidelines for a big drop in price before buying shares of the popular automaker.
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David Jagielski has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool owns shares of and recommends OrganiGram Holdings, PayPal Holdings, and Tesla. The Motley Fool recommends HEXO and recommends the following options: long January 2022 $75 calls on PayPal Holdings. The Motley Fool has no position in any of the cryptocurrencies mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On Robinhood, a zero-commission trading platform that's popular with many young investors, there are several hot stocks on its Top 100 list today that are grossly overpriced. The company announced earlier this month that Truss, its joint venture with Molson Coors, would be launching hemp-derived cannabidiol (CBD) beverages under the brand Veryvell in Colorado. If there's a market crash and its stock comes down, PayPal could be a hot buy for Robinhood investors, especially with the economy potentially moving away from cash amid the pandemic and increasingly toward digital transactions. | Three companies that are good investments (but not at their current valuations) are HEXO (NYSE: HEXO), PayPal (NASDAQ: PYPL), and Tesla (NASDAQ: TSLA). While investors are optimistic about beverage sales, it may not be enough to justify HEXO's current price tag. The Motley Fool owns shares of and recommends OrganiGram Holdings, PayPal Holdings, and Tesla. | Three companies that are good investments (but not at their current valuations) are HEXO (NYSE: HEXO), PayPal (NASDAQ: PYPL), and Tesla (NASDAQ: TSLA). When comparing its price-to-sales (P/S) multiple to that of its Canadian peers, HEXO comes out higher than Aurora Cannabis, Aphria, and OrganiGram: HEXO PS Ratio data by YCharts Without a sizable correction in share price, Robinhood investors should steer clear of HEXO for now. See the 10 stocks *Stock Advisor returns as of November 20, 2020 David Jagielski has no position in any of the stocks or cryptocurrencies mentioned. | Three companies that are good investments (but not at their current valuations) are HEXO (NYSE: HEXO), PayPal (NASDAQ: PYPL), and Tesla (NASDAQ: TSLA). While there may be a good reason to invest in their businesses, their share prices today are just too high. HEXO's shares have taken off in 2021. |
36938.0 | 2021-01-30 00:00:00 UTC | 5 Awful Stocks Robinhood Investors Can't Stop Buying | ACB | https://www.nasdaq.com/articles/5-awful-stocks-robinhood-investors-cant-stop-buying-2021-01-30 | nan | nan | Online investing app Robinhood is known for its numerous perks. This includes commission-free trading, the gifting of free shares of stock to new users, and the ability to buy fractional shares of companies listed on major U.S. exchanges.
But on Wall Street, the "Robinhood investor" is synonymous with millennial and/or novice investors who choose to chase penny stocks, momentum plays, and otherwise awful companies. Since the average age of Robinhood's users is 31, many fail to understand the power of compounding over the long run. As a result, Robinhood's leaderboard (the 100 most-held stocks on the platform) is packed with no shortage of terrible companies.
The following five companies are perfect examples of awful stocks Robinhood investors can't stop buying.
Image source: Getty Images.
GameStop
Is anyone really all that surprised to find multichannel video game and accessories retailer GameStop (NYSE: GME) among Robinhood's top 100? After being whipsawed violently over the past week, GameStop offers the wild volatility that young investors seem to crave.
On one hand, GameStop has made strides to improve its operations. It's been closing some of its physical locations to reduce its costs, all while emphasizing its digital gaming platform. For instance, the company's 2020 e-commerce holiday sales more than quadrupled from the previous year. Figures like this give hope to shareholders that an operating turnaround is possible for a company that's been reliant on its brick-and-mortar presence for decades.
On the other hand, the only substance behind GameStop's recent megarally looks to be a massive short squeeze (i.e., short-sellers, who want the stock to go down, getting pushed out of their position by the skyrocketing share price). GameStop has lost money in each of the past three years, and its sales continue to spiral downward. This isn't to say a turnaround isn't possible, but it's clearly not going to happen overnight.
With the recent short squeeze sending GameStop to an all-time high, Robinhood investors chasing this stock are playing with fire.
Image source: Getty Images.
Riot Blockchain
In recent months, anything that has to do with bitcoin has been virtually unstoppable, and that includes cryptocurrency stock Riot Blockchain (NASDAQ: RIOT).
Riot is a cryptocurrency miner that uses high-powered computers to solve equations that validate groups of transactions (a block) as accurate and true on bitcoin's blockchain. For doing this, Riot is given a block reward of 6.25 bitcoin tokens, which is worth about $203,000.
However, investing in Riot Blockchain comes with two significant concerns. First, there's minimal emphasis on innovation. Riot is almost entirely at the mercy of bitcoin and its wild vacillations. As I've stated on multiple occasions, I believe bitcoin to be flawed and the most dangerous investment of 2021. Also keep in mind that bitcoin has a history of entering protracted bear markets following parabolic moves higher.
Second, Riot Blockchain has little to currently offer investors. This is a $1.3 billion company that may not even reach $10 million in full-year revenue and has lost $16.6 million in back-to-back years through the first nine months of 2020 and 2019. There's nothing sustainable or guaranteed about crypto mining, especially when there's no barrier to entry.
The Nikola Badger was retired before it even rolled off the assembly line. Image source: Nikola.
Nikola
There's not a trend that Robinhood investors chase after more than alternative/green energy solutions. That includes electric vehicle (EV) auto stocks, all of which look grossly overvalued given the hurdles they still need to overcome. But the most dangerous of all might just be Nikola (NASDAQ: NKLA).
Though it was virtually unstoppable in June 2020, Nikola has been stuck in reverse for months. Much of this disappointment derives from losing out on a major partnership with General Motors (NYSE: GM). It was initially reported in early September that General Motors would take a $2 billion equity investment in Nikola and handle the production of the company's Badger EV, a hydrogen fuel-cell pickup truck. By December, the duo struck a toned-down deal that didn't involve an equity investment and caused Nikola to abandon the Badger.
To make matters worse, Nikola was hit with allegations of fraud and wrongdoing by a short-selling firm. These allegations proved to be enough for the Securities and Exchange Commission to open a probe into the company. And, as the icing the cake, the founder and former executive chairman of the board, Trevor Milton, stepped down via a middle-of-the-night tweet.
Nikola is a rudderless ship in choppy seas, and millennials keep chasing after it for some reason.
Image source: Getty Images.
Aurora Cannabis
Next to EVs, Robinhood investors' next-biggest obsession is with marijuana stocks. Since Robinhood doesn't allow its users to buy over-the-counter-listed stocks, they're left with an array of underperforming Canadian pot stocks on major U.S. exchanges. Somehow, young investors keep gravitating to the worst one of the bunch: Aurora Cannabis (NYSE: ACB).
Aurora has been hammered on all fronts. Canadian federal regulators delayed the launch of higher-margin derivatives in late 2019, and Ontario's provincial regulators have struggled to assign dispensary licenses in Canada's most-populous province. Meanwhile, Aurora overestimated the capacity that would be needed to satisfy demand in Canada, and grossly overpaid for roughly a dozen acquisitions completed since mid-2016. Long story short, the company continues to lose a boatload of money, and it wrote down roughly half of its total assets in the previous fiscal year.
If that's not enough to scare you away, perhaps this next statistic will do the trick. Having financed every deal with its common stock, and regularly issuing shares to pay for its day-to-day operations, Aurora Cannabis' outstanding share count has risen by at least 12,200% since June 2014. There's no way that investors can get ahead when management keeps diluting the daylights out of its shareholders.
Image source: America Airlines.
American Airlines Group
Among brand-name companies, American Airlines Group (NASDAQ: AAL) might be the biggest head-scratcher of them all. Of these five awful stocks, it's the only one currently in Robinhood's top 10.
I'm not entirely certain why, but millennials really like airline stocks. It's an industry that requires huge capital investments to produce only mediocre margins, at best. It also only thrives when the economy is growing. That's not the case during the coronavirus pandemic, and it's really exposed how weak American Airlines is, relative to its peers.
As of the end of September, American Airlines had more than $41 billion in outstanding debt and about $33 billion in net debt. Even if it has enough capital to survive the pandemic, the company's balance sheet will be weighed down by this added debt for a long time to come. This means no capital return program whatsoever (i.e., no share buybacks and no dividends).
As my Fool.com colleague Adam Levine-Weinberg pointed out in 2018, American Airlines also has a knack for making poor business decisions and wasted investors' money by upgrading its fleet well before it was necessary.
With high debt, weak margins, and no capital return program, there's no reason investors should be anywhere near American Airlines' stock.
10 stocks we like better than Aurora Cannabis Inc.
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Sean Williams has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Somehow, young investors keep gravitating to the worst one of the bunch: Aurora Cannabis (NYSE: ACB). It was initially reported in early September that General Motors would take a $2 billion equity investment in Nikola and handle the production of the company's Badger EV, a hydrogen fuel-cell pickup truck. Long story short, the company continues to lose a boatload of money, and it wrote down roughly half of its total assets in the previous fiscal year. | Somehow, young investors keep gravitating to the worst one of the bunch: Aurora Cannabis (NYSE: ACB). With the recent short squeeze sending GameStop to an all-time high, Robinhood investors chasing this stock are playing with fire. Riot Blockchain In recent months, anything that has to do with bitcoin has been virtually unstoppable, and that includes cryptocurrency stock Riot Blockchain (NASDAQ: RIOT). | Somehow, young investors keep gravitating to the worst one of the bunch: Aurora Cannabis (NYSE: ACB). But on Wall Street, the "Robinhood investor" is synonymous with millennial and/or novice investors who choose to chase penny stocks, momentum plays, and otherwise awful companies. Riot Blockchain In recent months, anything that has to do with bitcoin has been virtually unstoppable, and that includes cryptocurrency stock Riot Blockchain (NASDAQ: RIOT). | Somehow, young investors keep gravitating to the worst one of the bunch: Aurora Cannabis (NYSE: ACB). Image source: Nikola. Aurora Cannabis Next to EVs, Robinhood investors' next-biggest obsession is with marijuana stocks. |
36939.0 | 2021-01-28 00:00:00 UTC | Could Aurora Cannabis Be a Millionaire-Maker Stock? | ACB | https://www.nasdaq.com/articles/could-aurora-cannabis-be-a-millionaire-maker-stock-2021-01-28 | nan | nan | Back in early 2018, Aurora Cannabis (NYSE: ACB) became the shining star of the then high-flying marijuana industry in Canada. Having returned over 2,400% in a span of two years, the company produced many millionaire investors -- but with a caveat.
For those who weren't lucky enough to cash out and decided to hold on, Aurora shares are now down over 95% from all-time highs. Recently, the company has reignited investor interest with its aggressive cost-cutting measures and U.S. expansion. Has Aurora turned around its operations, and could it make its shareholders wealthy again?
ACB data by YCharts
A long road ahead
Aurora's fall from grace is mainly attributable to its wild expansion spree. The company anticipated that it could produce and sell up to 500,000 kg of cannabis per year back in 2019 and subsequently invested in state of the art production facilities. It also acquired competitors at lavish premiums for the sake of increasing its production volume. The biggest acquisition involves the takeover of MedReleaf for $2.5 billion, or a staggering 66 times that firm's revenue.
Unfortunately, the house of cards came crashing down when consumer demand turned out to be far lower than anticipated. As a result, the company had to close numerous facilities and take massive asset impairments, as well as inventory writedowns for the cannabis it could not sell.
In its 2020 fiscal year (ended June 30), the company posted a staggering net loss of CA$3.3 billion. Keep in mind that Aurora is only bringing in about CA$67.8 million in revenue per quarter -- and that number is declining by 6% year over year as of Q1 2021 (ended Sept. 30).
Its streak of misfortunes may finally be over, however. Due to multiple layoffs and restructuring rounds, Aurora has reduced its operating loss to CA$42.3 million as of Q1 2021 from CA$77.8 million in the prior year's quarter. It also managed to bring its production volume down to 67,500 kg per year, which is just about the same as the amount it can sell in a given year.
The average net selling price of its products, which include flowers, edibles, vapes, and pre-rolls, has also stabilized at around CA$3.72 per gram. Furthermore, Aurora is showing signs of promise in its venture into the U.S. market. The company's subsidiary, Reliva, is consistently ranked among the top two in the nation among cannabidiol (CBD) consumers. In the past 12 months, Reliva brought in about $10 million in revenue.
For these reasons, Aurora stock has more than doubled over the past three months. Before investors join in on the rally, however, there are a few more things to watch for.
Image source: Getty Images.
What to watch
Until Aurora can turn a profit, it will have to continue raising more cash via stock offerings to pay for its expenses. Back in November, the company raised $150 million in a public offering. This month, it sold an additional $125 million in stock. Over the past year, Aurora's shares outstanding have increased from about 100 million to at least 183.66 million.
In the short term, investors may continue to witness dilutions from Aurora, as it also has a massive chunk of liabilities to take care of. Right now, Aurora has over CA$322 million in convertible notes and CA$185 million in debt, compared to just CA$134 million in cash and equivalents.
It is only trading for 5.5 times revenue and 1.2 times net assets, which is far cheaper than what many of its competitors have to offer. But overall, I do not expect Aurora to turn around its operations until 2022 or 2023. After that, it could become an outstanding growth stock. For now, though, only the most risk-loving pot stock pickers will want to take a chance on Aurora Cannabis.
For investors with a decade-long horizon and can endure volatile share price swings, then Aurora is right for you. I do believe that Aurora could become a millionaire-maker stock. However, it would take perhaps one or more decades for the firm to achieve that goal.If that doesn't fit in with your time horizon, check out these alternatives instead.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Zhiyuan Sun has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACB data by YCharts A long road ahead Aurora's fall from grace is mainly attributable to its wild expansion spree. Back in early 2018, Aurora Cannabis (NYSE: ACB) became the shining star of the then high-flying marijuana industry in Canada. The company anticipated that it could produce and sell up to 500,000 kg of cannabis per year back in 2019 and subsequently invested in state of the art production facilities. | Back in early 2018, Aurora Cannabis (NYSE: ACB) became the shining star of the then high-flying marijuana industry in Canada. ACB data by YCharts A long road ahead Aurora's fall from grace is mainly attributable to its wild expansion spree. The company anticipated that it could produce and sell up to 500,000 kg of cannabis per year back in 2019 and subsequently invested in state of the art production facilities. | Back in early 2018, Aurora Cannabis (NYSE: ACB) became the shining star of the then high-flying marijuana industry in Canada. ACB data by YCharts A long road ahead Aurora's fall from grace is mainly attributable to its wild expansion spree. Keep in mind that Aurora is only bringing in about CA$67.8 million in revenue per quarter -- and that number is declining by 6% year over year as of Q1 2021 (ended Sept. 30). | Back in early 2018, Aurora Cannabis (NYSE: ACB) became the shining star of the then high-flying marijuana industry in Canada. ACB data by YCharts A long road ahead Aurora's fall from grace is mainly attributable to its wild expansion spree. The company anticipated that it could produce and sell up to 500,000 kg of cannabis per year back in 2019 and subsequently invested in state of the art production facilities. |
36940.0 | 2021-01-28 00:00:00 UTC | Aurora Cannabis Enters Into Five-year Supply Deal With MedReleaf Australia | ACB | https://www.nasdaq.com/articles/aurora-cannabis-enters-into-five-year-supply-deal-with-medreleaf-australia-2021-01-28 | nan | nan | (RTTNews) - Canadian cannabis company Aurora Cannabis said it has entered into a strategic agreement with Australia-based medical cannabis company MedReleaf Australia.
The two companies signed a five-year supply agreement, under which MedReleaf will act as the exclusive supplier in Australia for Aurora's MedReleaf, CanniMed and Aurora brands.
Products covered by the companies' agreement will be EU-GMP certified and include dried flower, oils, soft gels, and future products employing new delivery mechanisms. The agreement does not require or include any capital investment by Aurora Cannabis.
"We are pleased to have established a long-term strategic relationship with MedReleaf to exclusively distribute the Aurora, CanniMed and MedReleaf brands in Australia. The team at MedReleaf have created an asset-light, sustainable growth platform in Australia to assist physicians, pharmacists and patients across the country in accessing the high-quality range of Aurora cannabis medicines," said Miguel Martin, CEO of Aurora Cannabis.
Aurora Cannabis' brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD.
Aurora Cannabis hold a 10 percent ownership stake in MedReleaf Australia, a fully licenced, private company operating in the Australian medical cannabis sector since 2016. MedReleaf is one of the six founding members of the trade association Medicinal Cannabis Industry Australia or MCIA.
MedReleaf Australia has a strategic partnership with Aurora Cannabis and is licensed to cultivate and manufacture medical cannabis by the Federal Government's office of Drug Control or ODC.
MedReleaf and Aurora currently supply products to the Australian medical cannabis system. The companies expect their new agreement will advance that offering and extend availability of medical cannabis to patients.
In October 2020, Aurora Cannabis said it sold off its entire stake in Australian medical marijuana company Cann Group Ltd., noting that the decision was consistent with its strategic priorities. Cann Group is the first company in Australia ever to be licensed for research and cultivation of medical cannabis for human use.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The companies expect their new agreement will advance that offering and extend availability of medical cannabis to patients. In October 2020, Aurora Cannabis said it sold off its entire stake in Australian medical marijuana company Cann Group Ltd., noting that the decision was consistent with its strategic priorities. Cann Group is the first company in Australia ever to be licensed for research and cultivation of medical cannabis for human use. | (RTTNews) - Canadian cannabis company Aurora Cannabis said it has entered into a strategic agreement with Australia-based medical cannabis company MedReleaf Australia. Aurora Cannabis' brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD. MedReleaf Australia has a strategic partnership with Aurora Cannabis and is licensed to cultivate and manufacture medical cannabis by the Federal Government's office of Drug Control or ODC. | (RTTNews) - Canadian cannabis company Aurora Cannabis said it has entered into a strategic agreement with Australia-based medical cannabis company MedReleaf Australia. The team at MedReleaf have created an asset-light, sustainable growth platform in Australia to assist physicians, pharmacists and patients across the country in accessing the high-quality range of Aurora cannabis medicines," said Miguel Martin, CEO of Aurora Cannabis. Aurora Cannabis hold a 10 percent ownership stake in MedReleaf Australia, a fully licenced, private company operating in the Australian medical cannabis sector since 2016. | The two companies signed a five-year supply agreement, under which MedReleaf will act as the exclusive supplier in Australia for Aurora's MedReleaf, CanniMed and Aurora brands. MedReleaf and Aurora currently supply products to the Australian medical cannabis system. In October 2020, Aurora Cannabis said it sold off its entire stake in Australian medical marijuana company Cann Group Ltd., noting that the decision was consistent with its strategic priorities. |
36941.0 | 2021-01-28 00:00:00 UTC | Why Tilray, Aphria, and Aurora Cannabis Stocks Are Lighting Up Today | ACB | https://www.nasdaq.com/articles/why-tilray-aphria-and-aurora-cannabis-stocks-are-lighting-up-today-2021-01-28 | nan | nan | What happened
Good news for cannabis investors: Sometime within the next couple of years, marijuana is going to be legal across all of America -- or so says the CEO of Tilray (NASDAQ: TLRY).
As CNBC reported yesterday after close of trading, with marijuana already legal in Canada, and moving toward legality in Mexico, "pressure from the North and the South will ultimately lead the U.S. to implement a federal program here at some point in the next 18 to 24 months," Tilray CEO Brendan Kennedy said.
Marijuana stocks are lighting up on the news, with shares of Tilray up 6.3% as of 11:15 a.m. EST, its soon-to-be-merger partner Aphria (NASDAQ: APHA) rising 2.5%, and rival Aurora Cannabis (NYSE: ACB) gaining 3.9%, and I think that makes a lot of sense.
Image source: Getty Images.
So what
As I pointed out last month, the legalization of marijuana at just the state level in New Jersey prompted neighboring New York Gov. Andrew Cuomo to muse that the time might be "ripe" for him to legalize marijuana as well -- lest New York begin to lose tax revenue to its neighbor. A similar argument applies to the U.S. as a whole, which will soon be bracketed by two neighbors, both with very long and easily crossed borders, where marijuana can be purchased and consumed legally.
Now what
It just doesn't seem likely that the U.S. would want to be the odd taxman out in that situation, allowing lucrative cannabis tax revenue to leach through its borders to its neighbors.
And this argument only gets stronger in the context of a global recession. One presumes there will be significant pressure upon Congress to maximize tax revenue to pay for the cost of economic stimulus, widespread vaccinations, and more generally, President Joe Biden's planned $1.3 trillion infrastructure program.
Yes, Tilray's CEO may be "talking his own book" when he says the U.S. will legalize marijuana at the federal level in 18 to 24 months. But he's also probably right.
10 stocks we like better than Tilray, Inc.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Marijuana stocks are lighting up on the news, with shares of Tilray up 6.3% as of 11:15 a.m. EST, its soon-to-be-merger partner Aphria (NASDAQ: APHA) rising 2.5%, and rival Aurora Cannabis (NYSE: ACB) gaining 3.9%, and I think that makes a lot of sense. What happened Good news for cannabis investors: Sometime within the next couple of years, marijuana is going to be legal across all of America -- or so says the CEO of Tilray (NASDAQ: TLRY). One presumes there will be significant pressure upon Congress to maximize tax revenue to pay for the cost of economic stimulus, widespread vaccinations, and more generally, President Joe Biden's planned $1.3 trillion infrastructure program. | Marijuana stocks are lighting up on the news, with shares of Tilray up 6.3% as of 11:15 a.m. EST, its soon-to-be-merger partner Aphria (NASDAQ: APHA) rising 2.5%, and rival Aurora Cannabis (NYSE: ACB) gaining 3.9%, and I think that makes a lot of sense. As CNBC reported yesterday after close of trading, with marijuana already legal in Canada, and moving toward legality in Mexico, "pressure from the North and the South will ultimately lead the U.S. to implement a federal program here at some point in the next 18 to 24 months," Tilray CEO Brendan Kennedy said. Now what It just doesn't seem likely that the U.S. would want to be the odd taxman out in that situation, allowing lucrative cannabis tax revenue to leach through its borders to its neighbors. | Marijuana stocks are lighting up on the news, with shares of Tilray up 6.3% as of 11:15 a.m. EST, its soon-to-be-merger partner Aphria (NASDAQ: APHA) rising 2.5%, and rival Aurora Cannabis (NYSE: ACB) gaining 3.9%, and I think that makes a lot of sense. As CNBC reported yesterday after close of trading, with marijuana already legal in Canada, and moving toward legality in Mexico, "pressure from the North and the South will ultimately lead the U.S. to implement a federal program here at some point in the next 18 to 24 months," Tilray CEO Brendan Kennedy said. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Rich Smith has no position in any of the stocks mentioned. | Marijuana stocks are lighting up on the news, with shares of Tilray up 6.3% as of 11:15 a.m. EST, its soon-to-be-merger partner Aphria (NASDAQ: APHA) rising 2.5%, and rival Aurora Cannabis (NYSE: ACB) gaining 3.9%, and I think that makes a lot of sense. Now what It just doesn't seem likely that the U.S. would want to be the odd taxman out in that situation, allowing lucrative cannabis tax revenue to leach through its borders to its neighbors. 10 stocks we like better than Tilray, Inc. |
36942.0 | 2021-01-27 00:00:00 UTC | Sundial Growers Looks Ready To Take the Next Step in Its Turnaround | ACB | https://www.nasdaq.com/articles/sundial-growers-looks-ready-to-take-the-next-step-in-its-turnaround-2021-01-27 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Turnarounds like the one being undertaken by Sundial Growers (NASDAQ:SNDL) are not simple. They’re usually not all that fast. And though SNDL stock has rallied nicely of late, they are definitely not without risk.
Source: Shutterstock
But Sundial at least is making progress. I wrote coming into the year that the stock looked intriguing as the turnaround began to take hold. And so far in 2021, investors have agreed, with SNDL stock gaining a healthy 26%.
I still like the stock here, albeit with a bit more caution. The quick rally does price in more in the way of success. A big recent move looks like it probably won’t quite work out. And I remain far less bullish on U.S. legalization than do the cannabis bulls that have propelled the sector higher since Election Day.
Still, taking the long view, there’s still a good amount to like about Sundial here. Even if the most recent move doesn’t work, Sundial at least has positioned itself to take another swing.
Getting the Balance Sheet Fixed
The first step in a turnaround is getting a company’s financial house in order. Sundial Growers has done that.
9 Stocks Selling at a Discount Right Now
As I wrote in December, this was a company that wasn’t guaranteed to even make it through 2020, let alone provide positive shareholder returns. At the end of 2019, Sundial had 178 million CAD in debt, and 45 million CAD in cash.
Meanwhile, the company was burning cash in its operations as the Canadian legalized market executed its bumpy rollout. With the plunge in cannabis stocks, and overcapacity across the industry, lenders were tightening up. There was a scenario in which Sundial wound up entering a restructuring in relatively short order.
But Sundial swapped stock for debt and sold its U.K. business. As a result, Sundial now is not only debt-free but reported 21 million CAD in cash in their latest quarter.
To be sure, it’s been a painful process for shareholders, who have been diluted significantly. Sundial had 107.2 million shares outstanding at the end of 2019. The figure now is 1.1 billion. That’s up there with Aurora Cannabis (NYSE:ACB), which at least used its stock for (admittedly ill-fated) acquisitions.
Still, dilution is better than what the alternative could have been. And now, Sundial is ready to take the next step.
The Zenabis Deal
Sundial tried to do so on Dec. 30 with a creative — and maybe even tricky — step.
The company used a little over half its cash to buy a so-called special purpose vehicle. That vehicle owned 58.9 million CAD of secured debt in smaller Canadian cannabis company Zenabis (OTCMKTS:ZBISF).
By purchasing the debt, Sundial seemed to put itself in a no-lose situation. The Zenabis debt carries a whopping 14% interest rate — plus a royalty on the company’s quarterly revenue.
If Zenabis paid the debt in full (over eight years), Sundial would do quite well with its cash. If it didn’t, the secured nature of the debt meant Sundial would have claim to Zenabis’ assets at an attractive price. Zenabis has a market capitalization just shy of 90 million CAD.
It would appear Sundial preferred the assets to the cash. On Jan. 6, the company issued a notice of default (which Zenabis disputed).
Unfortunately, Zenabis seems to have found a white knight. It found a lender for 60 million CAD to refinance the Sundial debt. Sundial should make a couple million on the deal, but its hopes for picking up Zenabis’s assets on the cheap appear dim.
The Case For, and Against, SNDL Stock
It’s difficult to tell how much the Zenabis deal moved SNDL stock. Cannabis stocks on the whole rallied again in early January when Democratic candidates won both Senate seats in Georgia. SNDL has slipped since Zenabis announced its intention to refinance, but given the volatility in a stock like SNDL (and indeed the cannabis sector as a whole) the two may not be directly correlated.
Still, at the very least the effort signals two things. First, Sundial’s management is willing to think outside the box to find a way to drive growth. And, second, that management team is confident enough in the trajectory of the business to make a move that would have tied up half of existing cash for eight years.
Both look like good news. So, what goes wrong?
A lot. Again, Sundial isn’t profitable, or even all that close yet. The rally in the cannabis sector from here looks a bit questionable, given that it seems tied to election results. (A broader rally in small-cap stocks likely is a factor as well.)
A 50/50 Senate is simply not enough to push federal legalization through, and it’s federal legalization that’s required for Canadian operators like Sundial to enter the American market. Even once that market does open, the fortress balance sheets of Canopy Growth (NASDAQ:CGC) and Cronos (NASDAQ:CRON), in particular, look like enormous competitive advantages.
Therefore, at this point, I’d be hoping for the pullback of the last few sessions to continue. But cannabis bulls admittedly can and likely do see the sector differently. Those bulls should take a long look at SNDL stock.
On the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article.
After spending time at a retail brokerage, Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets.
The post Sundial Growers Looks Ready To Take the Next Step in Its Turnaround appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | That’s up there with Aurora Cannabis (NYSE:ACB), which at least used its stock for (admittedly ill-fated) acquisitions. 9 Stocks Selling at a Discount Right Now As I wrote in December, this was a company that wasn’t guaranteed to even make it through 2020, let alone provide positive shareholder returns. That vehicle owned 58.9 million CAD of secured debt in smaller Canadian cannabis company Zenabis (OTCMKTS:ZBISF). | That’s up there with Aurora Cannabis (NYSE:ACB), which at least used its stock for (admittedly ill-fated) acquisitions. At the end of 2019, Sundial had 178 million CAD in debt, and 45 million CAD in cash. That vehicle owned 58.9 million CAD of secured debt in smaller Canadian cannabis company Zenabis (OTCMKTS:ZBISF). | That’s up there with Aurora Cannabis (NYSE:ACB), which at least used its stock for (admittedly ill-fated) acquisitions. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Turnarounds like the one being undertaken by Sundial Growers (NASDAQ:SNDL) are not simple. At the end of 2019, Sundial had 178 million CAD in debt, and 45 million CAD in cash. | That’s up there with Aurora Cannabis (NYSE:ACB), which at least used its stock for (admittedly ill-fated) acquisitions. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Turnarounds like the one being undertaken by Sundial Growers (NASDAQ:SNDL) are not simple. It found a lender for 60 million CAD to refinance the Sundial debt. |
36943.0 | 2021-01-27 00:00:00 UTC | Aurora Cannabis and Tilray to Supply Experimental French Medical Cannabis Program | ACB | https://www.nasdaq.com/articles/aurora-cannabis-and-tilray-to-supply-experimental-french-medical-cannabis-program-2021-01 | nan | nan | Aurora Cannabis (NYSE: ACB) and Tilray (NASDAQ: TLRY) were among a handful of international marijuana producers chosen to participate in a new French medical marijuana experiment.
The National Agency for Medicines and Health Products Safety (ANSM) is trialing a small-scale, 18- to 24-month program to supply patients with medical marijuana free of charge. Partnering with a France-based pharmaceutical establishment, producers will supply up to 3,000 patients with free product while complying with pharmaceutical standards, including Good Manufacturing Practices (GMP).
The experimental program was announced in October 2020 and is expected to begin by March 31, the costs for which will be borne by the suppliers. Suppliers will not be compensated for their participation either.
Image source: Getty Images.
Playing catchup in marijuana
Tilray said its products are being supplied to French patients for whom existing treatments do not provide sufficient relief from their symptoms, as well as for therapeutic indications, such as neuropathic pain, epilepsy, certain persistent symptoms in cancer and anti-cancer, multiple sclerosis, and other indications.
Both Tilray and Aurora have been chosen as main suppliers for the program, but Tilray will also serve as a backup supplier in the event of a shortfall. Two other cannabis producers, Israel's Panaxia, and the U.K.'s Emmac Life Sciences, were also chosen as suppliers, though Emmac will only serve as a substitute for shortfalls. Panaxia will be both a main supplier and backup.
The program was begun after France was accused of falling "alarmingly behind" in the administration of medical cannabis even though legislators had approved the experiment in 2019.
Because France has yet to develop a domestic source of medical marijuana, the program is relying upon foreign sources of cannabis for the experiment.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) and Tilray (NASDAQ: TLRY) were among a handful of international marijuana producers chosen to participate in a new French medical marijuana experiment. The National Agency for Medicines and Health Products Safety (ANSM) is trialing a small-scale, 18- to 24-month program to supply patients with medical marijuana free of charge. The program was begun after France was accused of falling "alarmingly behind" in the administration of medical cannabis even though legislators had approved the experiment in 2019. | Aurora Cannabis (NYSE: ACB) and Tilray (NASDAQ: TLRY) were among a handful of international marijuana producers chosen to participate in a new French medical marijuana experiment. The National Agency for Medicines and Health Products Safety (ANSM) is trialing a small-scale, 18- to 24-month program to supply patients with medical marijuana free of charge. Both Tilray and Aurora have been chosen as main suppliers for the program, but Tilray will also serve as a backup supplier in the event of a shortfall. | Aurora Cannabis (NYSE: ACB) and Tilray (NASDAQ: TLRY) were among a handful of international marijuana producers chosen to participate in a new French medical marijuana experiment. Both Tilray and Aurora have been chosen as main suppliers for the program, but Tilray will also serve as a backup supplier in the event of a shortfall. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. | Aurora Cannabis (NYSE: ACB) and Tilray (NASDAQ: TLRY) were among a handful of international marijuana producers chosen to participate in a new French medical marijuana experiment. Both Tilray and Aurora have been chosen as main suppliers for the program, but Tilray will also serve as a backup supplier in the event of a shortfall. The Motley Fool has no position in any of the stocks mentioned. |
36944.0 | 2021-01-26 00:00:00 UTC | 7 Stocks to Buy With $500 | ACB | https://www.nasdaq.com/articles/7-stocks-to-buy-with-%24500-2021-01-26 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
There are a number of established and well-known companies whose stock price is so affordable that investors can buy a decent number of shares with only $500. Not every stock price is as high as Amazon (NASDAQ:AMZN) or Tesla (NASDAQ:TSLA). With a few hundred dollar bills in your pocket, you can make a decent investment with these stocks to buy.
We’re not talking about small-cap stocks. These are large-cap stocks, most of the them considered to be blue-chip companies on Wall Street and viewed as safe places to put money.
8 Cheap Stocks to Buy With Your Next Stimulus Check
Here are seven stocks to buy with $500:
Nokia (NYSE:NOK)
JetBlue Airways (NASDAQ:JBLU)
Aurora Cannabis (NYSE:ACB)
Carnival (NYSE:CCL)
Ford Motor (NYSE:F)
Riot Blockchain (NASDAQ:RIOT)
Marathon Oil (NYSE:MRO)
Stocks to Buy With $500: Nokia (NOK)
NOK) logo with a mobile phone featuring the Nokia logo on its screen in the foreground" width="300" height="169">
Source: rafapress / Shutterstock.com
Nokia stock got a significant boost recently, after it was hyped on Reddit’s WallStreetBets forum. NOK stock jumped more than 20% on January 25th after more than two million users on the Reddit site seized on the company following a positive analyst report. However, despite the recent spike, Nokia’s share price remains slightly above $5, placing it just barely out of penny stock territory.
For $500, investors could buy 100 shares of the Finnish telecommunications and information technology company. And, it may not be long before the day trader crowd sends this stock soaring higher.
Apart from the speculation, Nokia is actually a good investment currently given the company’s involvement in the 5G wireless rollout that’s now taking place around the world. Nokia is helping companies such as T-Mobile (NASDAQ:TMUS) launch their 5G networks.
The company is the largest 5G network provider within China and one of the largest globally, boasting about 25%. As 5G, which promises internet speeds that are 100 times faster than 4G, becomes the standard worldwide, Nokia shareholders should benefit. Analysts have a high price target on NOK stock of $6.14 a share.
JetBlue Airways (JBLU)
JBLU) airplane on a runway" width="300" height="169">
Source: Roman Tiraspolsky / Shutterstock.com
Airlines are expected to stage a comeback this year as the number of people inoculated against Covid-19 reaches critical mass. And among the big carriers, low-cost JetBlue Airways is set up to outperform.
JBLU stock is currently trading at just under $15 a share. The stock price has doubled since last March but remains 31% below its 52-week high of $21.65. That price was achieved before the global pandemic ground the aviation industry to a halt.
9 Stocks Selling at a Discount Right Now
As an airline that specializes in flying to sunny destinations in the Caribbean, Mexico and South America, JetBlue will perform well once Americans start vacationing with a vengeance in the latter half of 2021. Consumer travel is forecast to return a lot faster than business travel, and that will certainly help JetBlue, which doesn’t even offer business-class seating on its flights. The low-cost carrier has also developed a loyal, almost cult-like following among bargain shoppers and price-conscious consumers. With $500, an investor could grab 33 shares of JBLU stock.
Aurora Cannabis (ACB)
Source: Shutterstock
Next on this list of stocks to buy with $500 is ACB. The stock has been red-hot lately, up 190% since the end of October. Yet Aurora Cannabis’s stock is trading at just about $12 a share.
Five hundred bucks will get an investor about 40 shares of this fast-rising cannabis company that is benefiting from the increasing legalization of the recreational drug. Several states voted to legalize cannabis use this past November, bringing the total number of states to allow adult use of the drug to 15. (36 states now allow cannabis use for medical purposes.) That news sent Aurora Cannabis stock on an upward trajectory, as investors expect the legalization movement in the U.S. and beyond to gain momentum.
To be fair, it has been a bumpy ride for Aurora Cannabis. Cannabis legalization, notably in Canada, has not gone smoothly. And ACB has made several strategic errors along the way, acquiring incompatible businesses, selling more stock to fund its operations and overestimating its capacity, to name a few missteps.
Yet, cannabis remains a huge industry with huge potential. The North America legal cannabis market is forecast to be worth $104.9 billion by 2027, according to market research firm ReportLinker. The market for cannabis is finally starting to mature.
Carnival (CCL)
CCL) ship on the water" width="300" height="169">
Source: Ruth Peterkin / Shutterstock.com
In addition to getting on airplanes and flying to sunny destinations, people will return to cruise lines in droves once the pandemic ends. Cruise lines enjoy some of the most loyal repeat customers in any industry. People who enjoy taking cruises, enjoy them a lot. And Florida-based Carnival is the world’s biggest cruise line, not to mention one of the most popular.
With destinations stretching from the Caribbean to Alaska and throughout Europe, Carnival is sure to benefit from the resumption in travel that will take hold in the second half of 2021. While the industry continues to struggle amid the pandemic, sunnier days are on the horizon.
In terms of its share price, CCL stock has risen 156% from its doldrums last March when it was trading at $7.80 a share. Today, the stock is at $20 a share and has been trending higher since last fall.
The 7 Best Dividend Stocks To Buy On The Market Today
With $500, an investor could nab about 25 shares of Carnival. And investors would be well-advised to buy those shares before the stock rises further. At its current price, Carnival stock is 56% below its 52-week high of $45.79 a share. While it might take some time for Carnival stock to completely recover, it continues to move in the right direction, making it a perfect pick for this list of stocks to buy.
Ford Motor (F)
F) logo badge on grill of car" width="300" height="169">
Source: JuliusKielaitis / Shutterstock.com
Finally! Ford Motor stock has broken out. F stock has increased 41% since the end of October, rising from $7.70 to $10.88 a share. And the current rally may still have some steam left in it. The high price target on the stock is now $14 a share.
This current rally couldn’t come soon enough for beleaguered shareholders of the U.S. automaker, most of whom have been waiting years for Ford’s stock to break above $10 a share. And, at its current level, the stock remains extremely affordable. Investors could purchase about 45 shares for $500.
Much of the current rally can be attributed to Ford’s aggressive expansion into electric vehicles, as well as a recent management shake-up and the revival of many bestselling vehicles from the past, including the Bronco SUV.
All of the changes position Ford for future growth and success. And they should, hopefully, reward shareholders. After several failed turnaround efforts, many analysts on Wall Street are optimistic that new Chief Executive Officer Jim Farley, who started last October, will be the person to finally revive Ford’s fortunes for good.
Riot Blockchain (RIOT)
Source: Shutterstock
The year 2021 looks to be the one when cryptocurrency finally goes mainstream. A growing number of hedge fund managers and other institutional investors are taking positions in bitcoin (CCC:BTC) and Ethereum (CCC:ETH), while online payment companies such as PayPal (NASDAQ:PYPL) and Square (NYSE:SQ) are enabling customers to hold cryptocurrencies in their accounts and credit cards are allowing people to rack up reward points in cryptocurrencies. It seems that bitcoin and other cryptocurrencies are no longer relegated to the fringes of the investing community.
Investors who don’t have more than $30,000 to purchase a single bitcoin could put their money into the next best thing: Riot Blockchain. The company, which builds and operates the blockchain technology on which bitcoin is based, has seen its stock catapult higher over the past year. Its current price of $18.56 a share is an amazing 1,396% from a year ago.
7 Great Sub-$20 Stocks to Buy After Inauguration Day
Industrious investors could purchase 26 shares of RIOT stock with $500. But be warned that the stock tends to move in tandem with bitcoin. Investors need to be prepared to ride the highs and lows of this stock.
Marathon Oil (MRO)
Source: Jonathan Weiss/shutterstock.com
My final pick for stocks to buy with $500 is MRO. Energy is the best performing sector of 2021 so far. After an absolutely horrible 2020, oil and natural gas are rebounding into the newyear, helped by rising demand and prices.
And among oil companies, Marathon is a bargain. The Houston, Texas-based company’s stock currently sits at $7.47 a share. However, that is more than double $3.12 per share, which is where it was last March when markets around the world effectively collapsed. Moving forward, MRO stock should rebound with the broader oil market.
Other reasons to be bullish on MRO stock include the fact that the company plans to reinvest up to 80% of its cash flow to maintain production and use the other 20% to help support its dividend, which currently yields a decent 1.47%. Marathon Oil has also announced plans for a share buyback and possibly a special dividend in 2021. With the price of crude oil now above $50 a barrel, Marathon Oil, and its shareholders, should have a much better year in 2021.
On the date of publication, Joel Baglole held a long position in TSLA.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
The post 7 Stocks to Buy With $500 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 8 Cheap Stocks to Buy With Your Next Stimulus Check Here are seven stocks to buy with $500: Nokia (NYSE:NOK) JetBlue Airways (NASDAQ:JBLU) Aurora Cannabis (NYSE:ACB) Carnival (NYSE:CCL) Ford Motor (NYSE:F) Riot Blockchain (NASDAQ:RIOT) Marathon Oil (NYSE:MRO) Stocks to Buy With $500: Nokia (NOK) NOK) logo with a mobile phone featuring the Nokia logo on its screen in the foreground" width="300" height="169"> Source: rafapress / Shutterstock.com Nokia stock got a significant boost recently, after it was hyped on Reddit’s WallStreetBets forum. Aurora Cannabis (ACB) Source: Shutterstock Next on this list of stocks to buy with $500 is ACB. And ACB has made several strategic errors along the way, acquiring incompatible businesses, selling more stock to fund its operations and overestimating its capacity, to name a few missteps. | 8 Cheap Stocks to Buy With Your Next Stimulus Check Here are seven stocks to buy with $500: Nokia (NYSE:NOK) JetBlue Airways (NASDAQ:JBLU) Aurora Cannabis (NYSE:ACB) Carnival (NYSE:CCL) Ford Motor (NYSE:F) Riot Blockchain (NASDAQ:RIOT) Marathon Oil (NYSE:MRO) Stocks to Buy With $500: Nokia (NOK) NOK) logo with a mobile phone featuring the Nokia logo on its screen in the foreground" width="300" height="169"> Source: rafapress / Shutterstock.com Nokia stock got a significant boost recently, after it was hyped on Reddit’s WallStreetBets forum. Aurora Cannabis (ACB) Source: Shutterstock Next on this list of stocks to buy with $500 is ACB. And ACB has made several strategic errors along the way, acquiring incompatible businesses, selling more stock to fund its operations and overestimating its capacity, to name a few missteps. | 8 Cheap Stocks to Buy With Your Next Stimulus Check Here are seven stocks to buy with $500: Nokia (NYSE:NOK) JetBlue Airways (NASDAQ:JBLU) Aurora Cannabis (NYSE:ACB) Carnival (NYSE:CCL) Ford Motor (NYSE:F) Riot Blockchain (NASDAQ:RIOT) Marathon Oil (NYSE:MRO) Stocks to Buy With $500: Nokia (NOK) NOK) logo with a mobile phone featuring the Nokia logo on its screen in the foreground" width="300" height="169"> Source: rafapress / Shutterstock.com Nokia stock got a significant boost recently, after it was hyped on Reddit’s WallStreetBets forum. Aurora Cannabis (ACB) Source: Shutterstock Next on this list of stocks to buy with $500 is ACB. And ACB has made several strategic errors along the way, acquiring incompatible businesses, selling more stock to fund its operations and overestimating its capacity, to name a few missteps. | 8 Cheap Stocks to Buy With Your Next Stimulus Check Here are seven stocks to buy with $500: Nokia (NYSE:NOK) JetBlue Airways (NASDAQ:JBLU) Aurora Cannabis (NYSE:ACB) Carnival (NYSE:CCL) Ford Motor (NYSE:F) Riot Blockchain (NASDAQ:RIOT) Marathon Oil (NYSE:MRO) Stocks to Buy With $500: Nokia (NOK) NOK) logo with a mobile phone featuring the Nokia logo on its screen in the foreground" width="300" height="169"> Source: rafapress / Shutterstock.com Nokia stock got a significant boost recently, after it was hyped on Reddit’s WallStreetBets forum. Aurora Cannabis (ACB) Source: Shutterstock Next on this list of stocks to buy with $500 is ACB. And ACB has made several strategic errors along the way, acquiring incompatible businesses, selling more stock to fund its operations and overestimating its capacity, to name a few missteps. |
36945.0 | 2021-01-26 00:00:00 UTC | Aurora Cannabis: The 12,200% Gain Shareholders Didn't Ask For | ACB | https://www.nasdaq.com/articles/aurora-cannabis%3A-the-12200-gain-shareholders-didnt-ask-for-2021-01-26 | nan | nan | Few industries are hotter at the moment than marijuana. In the U.S., 36 states have given medical cannabis the green light, 15 of which also allow for adult-use consumption. Meanwhile, Canada opened the door to recreational pot sales in October 2018. These two markets, plus Mexico, could yield in the neighborhood of $75 billion in annual weed sales by 2030.
But as investors, we also know that not every company can be a winner. Sometimes, the companies that seem to have the clearest advantages in next-big-thing investments are the ones that fall the hardest.
Image source: Getty Images.
For years, Aurora Cannabis was the most-lauded pot stock
Not even two years ago, no marijuana stock was hotter than Aurora Cannabis (NYSE: ACB). By the midpoint of 2019, Aurora had amassed 15 cultivation facilities around the globe, and it was on track to be the leading producer of cannabis. Assuming all of its facilities were built out to capacity, it could have delivered more than 650,000 kilos per year. What's more, because Aurora had a number of large-scale facilities, it was expected to yield some of the lowest-cost weed in the entire industry.
Aurora Cannabis also had plenty of global connections, with a presence in 24 markets outside of Canada. No pot stock had greater reach beyond their domestic borders. These overseas markets were viewed by the investment community as a backstop to oversupply in Canada, and a means for Aurora Cannabis to preserve its operating margins.
The icing on the cake is that Aurora brought billionaire activist investor Nelson Peltz on as a strategic advisor in March 2019. Peltz's activist background was primarily in the food and beverage industry. With higher-margin derivatives launching in mid-December 2019, and Aurora the last of the big-name Canadian pot stocks without an equity investor, it seemed clear that Peltz would help bring the company a consumer-packaged goods partner.
Less than two years later, none of this came to fruition.
Image source: Getty Images.
Put bluntly, Aurora failed
Without beating around the cannabis bush, Aurora failed to deliver.
Part of the blame for its failure lies with the federal and provincial regulators in Canada. Federal regulators were slow to initially approve cultivation and sales licenses prior to the Oct. 17, 2018, launch date for recreational pot, and they delayed the eventual launch of higher-margin derivatives (edibles, vapes, infused beverages, concentrates, and topicals) by two months.
Meanwhile, certain provinces have struggled mightily to resolve supply bottlenecks. Ontario, Canada's most populous province, relied on an ineffective lottery system to assign dispensary licenses until the end of 2019. Though a more traditional application vetting process is now in place, Ontario is still trying to catch up.
This oversupply has also completely wrecked dried cannabis flower margins. With marijuana in abundance and the black market still very much a threat to licensed producers, growers like Aurora have had no choice but to focus on value-brand pot products. Trying to go head-to-head with illicit producers hasn't worked well for Aurora Cannabis.
But the company and its management team (mostly its former management team) are to blame, too.
For example, Aurora Cannabis grossly overestimated how much capacity it would need, and the company wildly overpaid for the assets it acquired. Canada was only expected to demand in the neighborhood of 800,000 kilos of weed per year, yet Aurora had a portfolio capable of producing more than 80% of this amount by itself.
Then there were the acquisitions. Aurora's $2.64 billion Canadian all-stock deal to buy MedReleaf is hands down the worst pot stock buyout in history. After shuttering MedReleaf's smallest cultivation facility and selling off its largest greenhouse, which was never retrofit for cannabis production, the net cost to Aurora was CA$2.63 billion for 28,000 kilos of annual output and a handful of proprietary brands. This led to Aurora Cannabis taking some hefty writedowns in the 2020 calendar year.
Image source: Getty Images.
The 12,200% gain no one saw coming
But many investors failed to see the biggest risk of all: Aurora's penchant for financing everything with its common stock. Management always leaned on selling stock or using stock as collateral, whether it was the company's day-to-day operations or the dozen-plus acquisitions it entered into.
Taking into account the 1-for-12 reverse split that the company enacted in May 2020 to avoid being delisted from the New York Stock Exchange, the company had about 1.35 million shares outstanding as of June 2014. Then the rampant spending began. The craziest thing is, even with the Canadian pot industry undergoing a shake-up, the dilution that Aurora's investors are contending with hasn't slowed one bit.
On Nov. 11, Aurora announced a $150 million public offering that would see 20 million shares priced at $7.50. Two months later, on Jan. 21, 2021, Aurora announced a $125 million bought-deal financing at $10.45 a share. Putting aside the fact that both deals come with warrants that, if executed, would balloon the company's share count even further, Aurora looks to now have north of 165 million share outstanding. In 6.5 years, we're talking about an increase in the company's outstanding share count of 12,200%.
Let's put this into an even easier-to-understand context. Over the trailing four-year period (as of Jan. 22), Aurora's market cap grew by 258%. That's not a surprise given how many businesses Aurora acquired between the beginning of 2017 and mid-2019. But in terms of share price performance, Aurora's stock is down 54%. This 308-percentage-point difference between Aurora's increased market cap and its plunging stock is directly tied to its incessant share-based dilution.
Although the new management team has been aggressive with its cost-cutting tactics and has resisted the urge to make additional acquisitions, Aurora Cannabis will never be a worthwhile investment as long as the company continues to fund its operations entirely by selling its own stock.
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Sean Williams has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For years, Aurora Cannabis was the most-lauded pot stock Not even two years ago, no marijuana stock was hotter than Aurora Cannabis (NYSE: ACB). With higher-margin derivatives launching in mid-December 2019, and Aurora the last of the big-name Canadian pot stocks without an equity investor, it seemed clear that Peltz would help bring the company a consumer-packaged goods partner. After shuttering MedReleaf's smallest cultivation facility and selling off its largest greenhouse, which was never retrofit for cannabis production, the net cost to Aurora was CA$2.63 billion for 28,000 kilos of annual output and a handful of proprietary brands. | For years, Aurora Cannabis was the most-lauded pot stock Not even two years ago, no marijuana stock was hotter than Aurora Cannabis (NYSE: ACB). Federal regulators were slow to initially approve cultivation and sales licenses prior to the Oct. 17, 2018, launch date for recreational pot, and they delayed the eventual launch of higher-margin derivatives (edibles, vapes, infused beverages, concentrates, and topicals) by two months. Aurora's $2.64 billion Canadian all-stock deal to buy MedReleaf is hands down the worst pot stock buyout in history. | For years, Aurora Cannabis was the most-lauded pot stock Not even two years ago, no marijuana stock was hotter than Aurora Cannabis (NYSE: ACB). With higher-margin derivatives launching in mid-December 2019, and Aurora the last of the big-name Canadian pot stocks without an equity investor, it seemed clear that Peltz would help bring the company a consumer-packaged goods partner. Although the new management team has been aggressive with its cost-cutting tactics and has resisted the urge to make additional acquisitions, Aurora Cannabis will never be a worthwhile investment as long as the company continues to fund its operations entirely by selling its own stock. | For years, Aurora Cannabis was the most-lauded pot stock Not even two years ago, no marijuana stock was hotter than Aurora Cannabis (NYSE: ACB). Few industries are hotter at the moment than marijuana. These overseas markets were viewed by the investment community as a backstop to oversupply in Canada, and a means for Aurora Cannabis to preserve its operating margins. |
36946.0 | 2021-01-22 00:00:00 UTC | CANADA STOCKS - TSX falls 0.33% to 17,857.81 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.33-to-17857.81-2021-01-22 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.33 percent to 17,857.81
* Leading the index were BlackBerry Ltd , up 10.0%, Ballard Power Systems Inc BLDP.TO, up 4.8%, and First Majestic Silver Corp FR.TO, higher by 4.2%.
* Lagging shares were Vermilion Energy Inc VET.TO, down 5.2%, Crescent Point Energy Corp CPG.TO, down 4.3%, and Aurora Cannabis Inc ACB.TO, lower by 3.9%.
* On the TSX 70 issues rose and 149 fell as a 0.5-to-1 ratio favored decliners. There were 2 new highs and no new lows, with total volume of 147.8 million shares.
* The most heavily traded shares by volume were Blackberry Ltd BB.TO, Cenovus Energy Inc CVE.TO and Crescent Point Energy Corp CPG.TO.
* The TSX's energy group .SPTTEN fell 1.92 points, or 2.0%, while the financials sector .SPTTFS slipped 2.21 points, or 0.7%.
* West Texas Intermediate crude futures CLc1 fell 2.01%, or $1.07, to $52.06 a barrel. Brent crude LCOc1 fell 1.6%, or $0.9, to $55.2 O/R
* The TSX is up 2.4% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Vermilion Energy Inc VET.TO, down 5.2%, Crescent Point Energy Corp CPG.TO, down 4.3%, and Aurora Cannabis Inc ACB.TO, lower by 3.9%. * The Toronto Stock Exchange's TSX falls 0.33 percent to 17,857.81 * Leading the index were BlackBerry Ltd , up 10.0%, Ballard Power Systems Inc BLDP.TO, up 4.8%, and First Majestic Silver Corp FR.TO, higher by 4.2%. * On the TSX 70 issues rose and 149 fell as a 0.5-to-1 ratio favored decliners. | * Lagging shares were Vermilion Energy Inc VET.TO, down 5.2%, Crescent Point Energy Corp CPG.TO, down 4.3%, and Aurora Cannabis Inc ACB.TO, lower by 3.9%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Cenovus Energy Inc CVE.TO and Crescent Point Energy Corp CPG.TO. * The TSX's energy group .SPTTEN fell 1.92 points, or 2.0%, while the financials sector .SPTTFS slipped 2.21 points, or 0.7%. | * Lagging shares were Vermilion Energy Inc VET.TO, down 5.2%, Crescent Point Energy Corp CPG.TO, down 4.3%, and Aurora Cannabis Inc ACB.TO, lower by 3.9%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Cenovus Energy Inc CVE.TO and Crescent Point Energy Corp CPG.TO. * The TSX's energy group .SPTTEN fell 1.92 points, or 2.0%, while the financials sector .SPTTFS slipped 2.21 points, or 0.7%. | * Lagging shares were Vermilion Energy Inc VET.TO, down 5.2%, Crescent Point Energy Corp CPG.TO, down 4.3%, and Aurora Cannabis Inc ACB.TO, lower by 3.9%. * The Toronto Stock Exchange's TSX falls 0.33 percent to 17,857.81 * Leading the index were BlackBerry Ltd , up 10.0%, Ballard Power Systems Inc BLDP.TO, up 4.8%, and First Majestic Silver Corp FR.TO, higher by 4.2%. * On the TSX 70 issues rose and 149 fell as a 0.5-to-1 ratio favored decliners. |
36947.0 | 2021-01-22 00:00:00 UTC | Aurora Cannabis: Another Day, Another Dilution | ACB | https://www.nasdaq.com/articles/aurora-cannabis%3A-another-day-another-dilution-2021-01-22 | nan | nan | Aurora Cannabis (ACB) investors are a resilient lot. The Canadian cannabis producer is notorious for diluting its shares via cash raising efforts. The company has continually burnt a hole through its reserves, and the share count has ballooned over the years as it has attempted to put the fires out.
Its latest move has involved another attempt to pad the coffers; On Thursday, the company announced a bought deal of $125 million, in which it has agreed to sell approximately 12 million units for $10.45 each. Within a 30-day period, the underwriters can also buy an additional 10% of the units. Should the warrants be exercised, the full dilution going by Thursday’s closing price would be 9%, and could reach 9.8%, should the additional 10% option be exercised.
So, further bad news for shareholders? Actually, not so, says Jefferies analyst Owen Bennett.
“We welcome this after flagging a risk of underinvestment following the recent business update,” the analyst said. “Since then, US political developments also mean the US market could open up sooner rather than later. ACB will certainly need cash to establish a US foothold, yet we still wonder if this is enough.”
Cannabis companies have opened the year on the front foot as investors have banked on President Biden and the new U.S. administration plowing ahead with federal marijuana reform. The move could open the door for the Canadian LPs to enter the lucrative U.S. market. As a result, shares of Aurora are up by a massive 125% over the past 3 months, and Bennett has pondered whether the share gains have been justified.
The favorable legislation, he says, will mostly benefit the local U.S cannabis companies “unless a Canadian name has the ability to establish a strong US presence.”
Can Aurora be one of these? The analyst is doubtful.
“Aurora's balance sheet rules out acquiring US assets unless it issues shares at a material dilution,” Bennett summed up, “So while the additional cash is encouraging, we do wonder if still too little to really get a strong US CBD and THC presence.”
There’s no change, then, to Bennett’s rating which stays an Underperform (i.e. Sell). Going by the CA$4.59 ($3.63) price target, Bennett expects shares to slide by a painful 66% over the next 12 months. (To watch Bennett’s track record, click here)
The Jefferies analyst is not the only Aurora pessimist. The stock has a Moderate Sell consensus rating based on 8 Holds and 4 Sells. While not quite as bearish as Bennett’s forecast, the projection is for downside of 17%, given the average price target currently stands at C$11.17 ($8.82). (See ACB stock analysis on TipRanks)
To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACB will certainly need cash to establish a US foothold, yet we still wonder if this is enough.” Cannabis companies have opened the year on the front foot as investors have banked on President Biden and the new U.S. administration plowing ahead with federal marijuana reform. Aurora Cannabis (ACB) investors are a resilient lot. (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. | Aurora Cannabis (ACB) investors are a resilient lot. (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. ACB will certainly need cash to establish a US foothold, yet we still wonder if this is enough.” Cannabis companies have opened the year on the front foot as investors have banked on President Biden and the new U.S. administration plowing ahead with federal marijuana reform. | (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Aurora Cannabis (ACB) investors are a resilient lot. ACB will certainly need cash to establish a US foothold, yet we still wonder if this is enough.” Cannabis companies have opened the year on the front foot as investors have banked on President Biden and the new U.S. administration plowing ahead with federal marijuana reform. | Aurora Cannabis (ACB) investors are a resilient lot. ACB will certainly need cash to establish a US foothold, yet we still wonder if this is enough.” Cannabis companies have opened the year on the front foot as investors have banked on President Biden and the new U.S. administration plowing ahead with federal marijuana reform. (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. |
36948.0 | 2021-01-22 00:00:00 UTC | Aurora Cannabis Investors Should Take Profits Now | ACB | https://www.nasdaq.com/articles/aurora-cannabis-investors-should-take-profits-now-2021-01-22 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Back in September, I said Aurora Cannabis (NYSE:ACB) stock finally started to look like a risk worth taking. Since that time, ACB stock is up 63.9%.
Source: Shutterstock
Aurora shares have nearly tripled since Nov. 1 based on optimism about the path to U.S. federal legalization. But even if the U.S. eventually legalizes cannabis, Aurora will still be at a competitive disadvantage to better-positioned companies. Aurora still has major financial problems. The company recently completed its latest in a string of dilutive capital raised to fund its growth efforts.
With the stock up big since Election Day, ACB stock investors should at least be taking some of those profits off the table at this point.
Reasons to Like ACB Stock
Despite its struggles, there are still plenty of reasons to be optimistic about Aurora’s outlook in the long term.
7 Great Sub-$20 Stocks to Buy After Inauguration Day
Morningstar analyst Kristoffer Inton is projecting Canadian medical marijuana sales volume will grow by about 5% annually from 2020 to 2029. He is also optimistic that Aurora will eventually achieve profitability. Eventually.
“By 2029, we expect [operating] margin to reach about 19%, due to the full ramp-up of production and fixed-cost leverage against overhead expenses. We forecast Aurora to reach positive free cash flow generation in 2025 as profits rise and the company manages capital spending,” Inton says.
Morningstar is projecting revenue growth will accelerate from 13.4% in 2020 to 33.6% in 2021 and 50.6% in 2022. That growth would certainly be impressive. It is likely one of the driver’s behind Inton’s “buy” rating and $26 fair value estimate for ACB stock.
Funding Concerns Remain
Long-term ACB stock investors know the bear case has always been all about access to capital. In November, Aurora once again raised $172.5 million in capital via an at-the-market equity offering. It’s the latest in a parade of dilutive equity offerings for the company.
ACB stock investors are no strangers to seeing their investments chipped away with one offering after another. Incredibly, the stock’s outstanding share count has increased by more than 11,800% in the past six-plus years.
Meanwhile, Aurora has pushed to control costs by cutting its production in half. It sacrificed potential international growth opportunities. And it failed to find a major financial backer, unlike many of its Canadian cannabis peers.
Cantor Fitzgerald analyst Pablo Zuanic says Aurora is certainly better-positioned to start 2021 than it was to start 2020. He estimates Aurora ended the fourth quarter with only about $41 million in net debt.
“We certainly do not blame management for making use of the steep post-election bump experienced by the stock,” Zuanic says of the latest offering.
He also said ACB trades at a valuation discount to its Canadian legal producer peers.
“Taking the equity offering price (10% discount), ACB trades at a discount to all major LPs, which we think should protect the downside, in relative terms,” Zuanic says.
Unfortunately, given the uncertainty in Aurora’s outlook, he doesn’t see much upside for the stock either. Cantor Fitzgerald has a “neutral” rating and C$12 ($9.45) price target for ACB stock.
How to Play It
I’ve repeatedly pounded my fist about the best approach for investors to take with cannabis stocks. I believe there will be some huge winners in the long term. But there is simply too much risk, too much uncertainty and too much competition at this point to be putting all your eggs in one basket.
My favorite cannabis stock is Canopy Growth (NASDAQ:CGC). It has the largest Canadian market share. It has a strong financial backer in minority investor Constellation Brands (NYSE:STZ). And it is well-positioned in the U.S. market via multiple buyout deals contingent upon U.S. federal legalization.
But for now, I continue to recommend cannabis investors hold a portfolio of at least four or five of the best Canadian LPs and U.S. multi-state operators. The path forward will likely continue to be difficult from a legal and financial standpoint in the near term. Cannabis investors should consider things like cash flow, debt levels and growth rates, none of which is Aurora’s strong suit.
Aurora may still have some tremendous long-term upside ahead. But now is a great chance to take at least some of your ACB stock profits and diversify into other cannabis stocks or other opportunities.
On the date of publication, Wayne Duggan held a long position in CGC.
Wayne Duggan has been a U.S. News & World Report Investing contributor since 2016 and is a staff writer at Benzinga, where he has written more than 7,000 articles. Mr. Duggan is the author of the book Beating Wall Street With Common Sense, which focuses on investing psychology and practical strategies to outperform the stock market.
The post Aurora Cannabis Investors Should Take Profits Now appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Back in September, I said Aurora Cannabis (NYSE:ACB) stock finally started to look like a risk worth taking. Since that time, ACB stock is up 63.9%. With the stock up big since Election Day, ACB stock investors should at least be taking some of those profits off the table at this point. | “Taking the equity offering price (10% discount), ACB trades at a discount to all major LPs, which we think should protect the downside, in relative terms,” Zuanic says. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Back in September, I said Aurora Cannabis (NYSE:ACB) stock finally started to look like a risk worth taking. Since that time, ACB stock is up 63.9%. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Back in September, I said Aurora Cannabis (NYSE:ACB) stock finally started to look like a risk worth taking. With the stock up big since Election Day, ACB stock investors should at least be taking some of those profits off the table at this point. But now is a great chance to take at least some of your ACB stock profits and diversify into other cannabis stocks or other opportunities. | “Taking the equity offering price (10% discount), ACB trades at a discount to all major LPs, which we think should protect the downside, in relative terms,” Zuanic says. But now is a great chance to take at least some of your ACB stock profits and diversify into other cannabis stocks or other opportunities. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Back in September, I said Aurora Cannabis (NYSE:ACB) stock finally started to look like a risk worth taking. |
36949.0 | 2021-01-22 00:00:00 UTC | Here's Why Aurora Cannabis Dropped Over 7% Today | ACB | https://www.nasdaq.com/articles/heres-why-aurora-cannabis-dropped-over-7-today-2021-01-22 | nan | nan | What happened
Shares of Canadian cannabis grower Aurora Cannabis (NYSE: ACB) dropped today after the company announced a new share offering. The stock was down 7.4% as of 10:45 a.m. EST.
The company is taking the opportunity to raise money after its shares more than doubled over the past three months.
So what
Aurora announced that it will be issuing 12 million new shares, plus additional warrants to purchase shares. The agreement with underwriters is a "bought deal" arrangement, meaning the underwriter agrees to purchase all of the offered units, but terms result in a lower share price. The company agreed to a price of $10.45 per share, or about 13% below recent highs from a week ago.
Image source: Getty Images.
Aurora will use the $125 million in proceeds "for general corporate purposes, which may include opportunistically reducing debt."
Now what
The marijuana company has been working on a business transformation over the past year. The plan has included reducing production with facility closures and capacity restrictions to better align with the market. It also has resulted in job reductions, including last week, after the company announced a new sales distribution agreement.
The moves are meant to advance Aurora closer to profitability. Today's offering "fits with its broader strategy to have a strong balance sheet while maintaining maximum flexibility to invest and build," the company said in a statement.
Added dilution to existing investors makes the path toward long-term investment gains more difficult, and the funding will need to reap benefits to make it a positive move for shareholders.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Canadian cannabis grower Aurora Cannabis (NYSE: ACB) dropped today after the company announced a new share offering. Aurora will use the $125 million in proceeds "for general corporate purposes, which may include opportunistically reducing debt." It also has resulted in job reductions, including last week, after the company announced a new sales distribution agreement. | What happened Shares of Canadian cannabis grower Aurora Cannabis (NYSE: ACB) dropped today after the company announced a new share offering. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Howard Smith has no position in any of the stocks mentioned. | What happened Shares of Canadian cannabis grower Aurora Cannabis (NYSE: ACB) dropped today after the company announced a new share offering. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! See the 10 stocks *Stock Advisor returns as of November 20, 2020 Howard Smith has no position in any of the stocks mentioned. | What happened Shares of Canadian cannabis grower Aurora Cannabis (NYSE: ACB) dropped today after the company announced a new share offering. 10 stocks we like better than Aurora Cannabis Inc. The Motley Fool has no position in any of the stocks mentioned. |
36950.0 | 2021-01-22 00:00:00 UTC | CANADA STOCKS-TSX falls on dismal preliminary Dec retail data | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-on-dismal-preliminary-dec-retail-data-2021-01-22 | nan | nan | Updates prices, adds sector details
Jan 22 (Reuters) - Canada's main stock index fell on Friday and is set to end the week down 0.7%, dragged by energy and material stocks, after preliminary data showed a sharp drop in retail sales in December.
* The nation's retail sales jumped much more than expected in November, but preliminary figures for December suggest a sharp drop as novel coronavirus restrictions were re-imposed, Statistics Canada said.
* The biggest percentage losers on the main index were energy .SPTTEN and material stocks .GSPTTMT, which fell 2% and 1.7%, respectively.
** U.S. crude CLc1 prices were down 2.7% a barrel, while Brent crude LCOc1 lost 2.4% weighed by worries that new pandemic restrictions in China will curb fuel demand. O/R
* At 9:40 a.m. ET (14:40 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 115.24 points, or 0.64%, at 17,800.96.
* Aurora Cannabis Inc ACB.TO fell 4.8%, the most on the TSX, after the pot producer raised $125 million in equity.
* The second biggest decliner was gold miner OceanaGold Corp OGC.TO, down 4.2%.
* On the TSX, 36 issues were higher, while 178 issues declined for a 4.94-to-1 ratio to the downside, with 17.25 million shares traded.
* The largest percentage gainers on the TSX were pharmaceutical firm Aurinia Pharmaceuticals Inc , which jumped 3.3%, and discount retailer Dollarama Inc , which rose 1.6%.
* The most heavily traded shares by volume were Bombardier Inc , Royal Bank of Canada and Zenabis Global Inc .
* The TSX posted one new 52-week high and no new low.
* Across all Canadian issues there were 22 new 52-week highs and no new low, with total volume of 42.69 million shares.
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Aurora Cannabis Inc ACB.TO fell 4.8%, the most on the TSX, after the pot producer raised $125 million in equity. Updates prices, adds sector details Jan 22 (Reuters) - Canada's main stock index fell on Friday and is set to end the week down 0.7%, dragged by energy and material stocks, after preliminary data showed a sharp drop in retail sales in December. * The nation's retail sales jumped much more than expected in November, but preliminary figures for December suggest a sharp drop as novel coronavirus restrictions were re-imposed, Statistics Canada said. | * Aurora Cannabis Inc ACB.TO fell 4.8%, the most on the TSX, after the pot producer raised $125 million in equity. Updates prices, adds sector details Jan 22 (Reuters) - Canada's main stock index fell on Friday and is set to end the week down 0.7%, dragged by energy and material stocks, after preliminary data showed a sharp drop in retail sales in December. * The nation's retail sales jumped much more than expected in November, but preliminary figures for December suggest a sharp drop as novel coronavirus restrictions were re-imposed, Statistics Canada said. | * Aurora Cannabis Inc ACB.TO fell 4.8%, the most on the TSX, after the pot producer raised $125 million in equity. Updates prices, adds sector details Jan 22 (Reuters) - Canada's main stock index fell on Friday and is set to end the week down 0.7%, dragged by energy and material stocks, after preliminary data showed a sharp drop in retail sales in December. * The nation's retail sales jumped much more than expected in November, but preliminary figures for December suggest a sharp drop as novel coronavirus restrictions were re-imposed, Statistics Canada said. | * Aurora Cannabis Inc ACB.TO fell 4.8%, the most on the TSX, after the pot producer raised $125 million in equity. Updates prices, adds sector details Jan 22 (Reuters) - Canada's main stock index fell on Friday and is set to end the week down 0.7%, dragged by energy and material stocks, after preliminary data showed a sharp drop in retail sales in December. * The biggest percentage losers on the main index were energy .SPTTEN and material stocks .GSPTTMT, which fell 2% and 1.7%, respectively. |
36951.0 | 2021-01-22 00:00:00 UTC | Pre-Market Most Active for Jan 22, 2021 : CLII, F, SCYX, NIO, SQQQ, AMC, AMTX, QTT, AAPL, ACB, INTC, BB | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-jan-22-2021-%3A-clii-f-scyx-nio-sqqq-amc-amtx-qtt-aapl-acb-intc | nan | nan | The NASDAQ 100 Pre-Market Indicator is down -79.93 to 13,325.06. The total Pre-Market volume is currently 27,167,274 shares traded.
The following are the most active stocks for the pre-market session:
Climate Change Crisis Real Impact I Acquisition Corporation (CLII) is +6.5 at $19.84, with 4,329,411 shares traded.
Ford Motor Company (F) is -0.03 at $11.50, with 2,715,442 shares traded., following a 52-week high recorded in prior regular session.
SCYNEXIS, Inc. (SCYX) is +2.17 at $9.48, with 2,590,680 shares traded. As reported by Zacks, the current mean recommendation for SCYX is in the "strong buy range".
NIO Inc. (NIO) is -0.179 at $58.16, with 2,406,353 shares traded. NIO's current last sale is 114.83% of the target price of $50.65.
ProShares UltraPro Short QQQ (SQQQ) is +0.24 at $13.52, with 1,947,609 shares traded., following a 52-week high recorded in prior regular session.
AMC Entertainment Holdings, Inc. (AMC) is -0.11 at $2.87, with 1,915,005 shares traded. AMC's current last sale is 82% of the target price of $3.5.
Aemetis, Inc (AMTX) is +0.54 at $4.57, with 1,777,355 shares traded. As reported by Zacks, the current mean recommendation for AMTX is in the "strong buy range".
Qutoutiao Inc. (QTT) is +0.07 at $4.41, with 1,607,803 shares traded. As reported by Zacks, the current mean recommendation for QTT is in the "strong buy range".
Apple Inc. (AAPL) is -1.19 at $135.68, with 1,118,179 shares traded.AAPL is scheduled to provide an earnings report on 1/27/2021, for the fiscal quarter ending Dec2020. The consensus earnings per share forecast is 1.39 per share, which represents a 125 percent increase over the EPS one Year Ago
Aurora Cannabis Inc. (ACB) is -0.71 at $10.46, with 673,566 shares traded. ACB's current last sale is 113.82% of the target price of $9.19.
Intel Corporation (INTC) is -3.01 at $59.45, with 657,621 shares traded. INTC's current last sale is 99.92% of the target price of $59.5.
BlackBerry Limited (BB) is -0.54 at $12.31, with 657,325 shares traded. BB's current last sale is 223.82% of the target price of $5.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is -0.71 at $10.46, with 673,566 shares traded. ACB's current last sale is 113.82% of the target price of $9.19. Climate Change Crisis Real Impact I Acquisition Corporation (CLII) is +6.5 at $19.84, with 4,329,411 shares traded. | Aurora Cannabis Inc. (ACB) is -0.71 at $10.46, with 673,566 shares traded. ACB's current last sale is 113.82% of the target price of $9.19. As reported by Zacks, the current mean recommendation for SCYX is in the "strong buy range". | Aurora Cannabis Inc. (ACB) is -0.71 at $10.46, with 673,566 shares traded. ACB's current last sale is 113.82% of the target price of $9.19. The total Pre-Market volume is currently 27,167,274 shares traded. | Aurora Cannabis Inc. (ACB) is -0.71 at $10.46, with 673,566 shares traded. ACB's current last sale is 113.82% of the target price of $9.19. The following are the most active stocks for the pre-market session: |
36952.0 | 2021-01-22 00:00:00 UTC | Aurora Cannabis Raises $125 Million in "Bought Deal" Financing Arrangement | ACB | https://www.nasdaq.com/articles/aurora-cannabis-raises-%24125-million-in-bought-deal-financing-arrangement-2021-01-22 | nan | nan | Aurora Cannabis (NYSE: ACB) announced yesterday that it has raised $125 million by issuing 12 million units priced at $10.45 each through a financing strategy called a "bought deal." The units are one share of the marijuana grower's stock and one half of a share's purchase warrant that can be exercised anytime over the next three years to acquire a full share of stock at a price of $12.60 per warrant share.
BMO Capital Markets and ATB Capital Markets will be acquiring the units and have another 30 days to acquire an additional 10% of the total at the same terms if there is an overallotment.
Image source: Getty Images.
A good deal for both sides
A bought deal is one in which investment banks agree to buy the entire block of stock a company is issuing, but because it's a riskier move for the buyers (since they then have to try to sell the stock itself), they usually get a significant discount on the stock.
Conversely, a bought deal is less risky for the issuer because it is getting the entire sum of money it seeks without the worry of trying to sell the shares itself. The arrangements have been very popular with pot stocks.
Aurora's stock closed at $11.17 per share on Thursday, meaning BMO and ATB got a 6% discount, plus each share they bought essentially includes a warrant to buy two shares.
Aurora says it plans to use the proceeds for general corporate purposes, including reducing its debt. At the end of December, the marijuana grower had around $370 million in convertible debentures and long-term debt.
Aurora Cannabis has raised cash through stock sales several times over the past few months, diluting investors. While a poor performer in 2020, its shares are up 34% so far in 2021 and have tripled in value from their October lows.
10 stocks we like better than Aurora Cannabis Inc.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) announced yesterday that it has raised $125 million by issuing 12 million units priced at $10.45 each through a financing strategy called a "bought deal." Conversely, a bought deal is less risky for the issuer because it is getting the entire sum of money it seeks without the worry of trying to sell the shares itself. Aurora Cannabis has raised cash through stock sales several times over the past few months, diluting investors. | Aurora Cannabis (NYSE: ACB) announced yesterday that it has raised $125 million by issuing 12 million units priced at $10.45 each through a financing strategy called a "bought deal." BMO Capital Markets and ATB Capital Markets will be acquiring the units and have another 30 days to acquire an additional 10% of the total at the same terms if there is an overallotment. Aurora's stock closed at $11.17 per share on Thursday, meaning BMO and ATB got a 6% discount, plus each share they bought essentially includes a warrant to buy two shares. | Aurora Cannabis (NYSE: ACB) announced yesterday that it has raised $125 million by issuing 12 million units priced at $10.45 each through a financing strategy called a "bought deal." The units are one share of the marijuana grower's stock and one half of a share's purchase warrant that can be exercised anytime over the next three years to acquire a full share of stock at a price of $12.60 per warrant share. A good deal for both sides A bought deal is one in which investment banks agree to buy the entire block of stock a company is issuing, but because it's a riskier move for the buyers (since they then have to try to sell the stock itself), they usually get a significant discount on the stock. | Aurora Cannabis (NYSE: ACB) announced yesterday that it has raised $125 million by issuing 12 million units priced at $10.45 each through a financing strategy called a "bought deal." The units are one share of the marijuana grower's stock and one half of a share's purchase warrant that can be exercised anytime over the next three years to acquire a full share of stock at a price of $12.60 per warrant share. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. |
36953.0 | 2021-01-21 00:00:00 UTC | Why Aurora Cannabis Stock Dropped Today | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-stock-dropped-today-2021-01-21 | nan | nan | What happened
Shares of Aurora Cannabis (NYSE: ACB) were down 4.9% as of 12:15 p.m. EST on Thursday. A recent sales distribution agreement has the company further trimming staff as it continues on its transformation plan.
So what
Shares of the Canadian marijuana grower jumped last week, after it announced a new agreement with Great North Distributors that Aurora said will "significantly bolster" its market share across Canada.
The company has since confirmed that additional layoffs will accompany that deal, according to Marijuana Business Daily.
Image source: Getty Images.
Now what
In an email confirming staff reductions, an Aurora spokesperson said, "We have informed the internal sales team of our agreement with Great North Distributors, and in some cases that resulted in immediate impact whereas other employees will remain with the organization for a set time."
The sales agreement is another step in a business improvement plan the company announced in early 2020. Aurora management has said the plan is designed to reduce expenses, better scrutinize capital expenditures, and improve its balance sheet to attain profitability.
Other layoffs came as Aurora announced facility closures and production cuts. In a December 2020 business update, Aurora said it was "responsibly scaling back production from our fixed asset network" after closing its Aurora Sun facility and cutting production at another facility to 25% of capacity.
Investors are counting on a successful turnaround to reverse the nearly 60% drop in the share price over the past year.
10 stocks we like better than Aurora Cannabis Inc.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of November 20, 2020
Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Aurora Cannabis (NYSE: ACB) were down 4.9% as of 12:15 p.m. EST on Thursday. Now what In an email confirming staff reductions, an Aurora spokesperson said, "We have informed the internal sales team of our agreement with Great North Distributors, and in some cases that resulted in immediate impact whereas other employees will remain with the organization for a set time." Aurora management has said the plan is designed to reduce expenses, better scrutinize capital expenditures, and improve its balance sheet to attain profitability. | What happened Shares of Aurora Cannabis (NYSE: ACB) were down 4.9% as of 12:15 p.m. EST on Thursday. So what Shares of the Canadian marijuana grower jumped last week, after it announced a new agreement with Great North Distributors that Aurora said will "significantly bolster" its market share across Canada. The sales agreement is another step in a business improvement plan the company announced in early 2020. | What happened Shares of Aurora Cannabis (NYSE: ACB) were down 4.9% as of 12:15 p.m. EST on Thursday. So what Shares of the Canadian marijuana grower jumped last week, after it announced a new agreement with Great North Distributors that Aurora said will "significantly bolster" its market share across Canada. In a December 2020 business update, Aurora said it was "responsibly scaling back production from our fixed asset network" after closing its Aurora Sun facility and cutting production at another facility to 25% of capacity. | What happened Shares of Aurora Cannabis (NYSE: ACB) were down 4.9% as of 12:15 p.m. EST on Thursday. The sales agreement is another step in a business improvement plan the company announced in early 2020. 10 stocks we like better than Aurora Cannabis Inc. |
36954.0 | 2021-01-19 00:00:00 UTC | Why These Marijuana Stocks Fell by as Much as 11.7% Today | ACB | https://www.nasdaq.com/articles/why-these-marijuana-stocks-fell-by-as-much-as-11.7-today-2021-01-19 | nan | nan | What happened
Canadian marijuana stocks Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and Tilray (NASDAQ: TLRY) all slipped on Tuesday. They recovered, but not to an admirable degree: Aurora and HEXO both closed the day lower (by 1.7% and 2.4%, respectively), while Tilray eked out a 2% gain.
So what
There was no obvious catalyst for this bearishness. Rather, it feels like a pullback from the recent general optimism surrounding marijuana stocks.
Image source: Getty Images.
The Biden administration is expected to either decriminalize or full-out legalize the drug, which would allow foreign producers and distributors access to the massive U.S. market.
But that expectation is largely baked into the prices of weed stocks, which have largely been on the rise ever since Biden was declared the winner. It's the same for the coming merger of two Canadian weedies, Aphria (NASDAQ: APHA) and Tilray, that excited investors when it was announced last month.
Now what
Investors might also be worried, justifiably, that the decriminalization/legalization push won't happen for some time, given other pressing matters troubling the administration (like the coronavirus pandemic).
On top of that, determined U.S. companies will pounce once the law changes, and they might be seen as better positioned to compete here. I don't feel that anyone should trade out of Aurora, HEXO, Aphria, or Tilray purely on that basis, however. There is much public support for marijuana law reform, and whenever it hits, it'll be the tide that lifts all boats, no matter where they're sailing in from.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Canadian marijuana stocks Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and Tilray (NASDAQ: TLRY) all slipped on Tuesday. The Biden administration is expected to either decriminalize or full-out legalize the drug, which would allow foreign producers and distributors access to the massive U.S. market. Now what Investors might also be worried, justifiably, that the decriminalization/legalization push won't happen for some time, given other pressing matters troubling the administration (like the coronavirus pandemic). | What happened Canadian marijuana stocks Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and Tilray (NASDAQ: TLRY) all slipped on Tuesday. It's the same for the coming merger of two Canadian weedies, Aphria (NASDAQ: APHA) and Tilray, that excited investors when it was announced last month. I don't feel that anyone should trade out of Aurora, HEXO, Aphria, or Tilray purely on that basis, however. | What happened Canadian marijuana stocks Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and Tilray (NASDAQ: TLRY) all slipped on Tuesday. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | What happened Canadian marijuana stocks Aurora Cannabis (NYSE: ACB), HEXO (NYSE: HEXO), and Tilray (NASDAQ: TLRY) all slipped on Tuesday. The Biden administration is expected to either decriminalize or full-out legalize the drug, which would allow foreign producers and distributors access to the massive U.S. market. I don't feel that anyone should trade out of Aurora, HEXO, Aphria, or Tilray purely on that basis, however. |
36955.0 | 2021-01-19 00:00:00 UTC | CANADA STOCKS-TSX gains on energy boost, wholesale trade data | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-gains-on-energy-boost-wholesale-trade-data-2021-01-19 | nan | nan | Updates prices, adds sector details
Jan 19 (Reuters) - Canada's main stock index rose on Tuesday, helped by strength in energy stocks, as data showing growth in domestic wholesale trade in November bolstered sentiment.
* The energy sector .SPTTEN climbed 1.4% as U.S. crude CLc1 prices were up 0.8% a barrel and Brent crude LCOc1 added 1.8% on the back of optimism that government stimulus will eventually lift global economic growth. O/R
* Canadian wholesale trade increased by 0.7% in November from October on higher sales of machinery and equipment, as well as building materials and supplies, Statistics Canada said.
* At 9:47 a.m. ET (1447 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 6.81 points, or 0.04%, at 17,951.69.
* The largest percentage gainers on the TSX were cybersecurity firm BlackBerry Limited BB.TO, which jumped 5.5% and oil producer Vermilion Energy Inc VET.TO, which rose 3.9%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.6% as gold futures GCc1 rose 0.7% to $1,842.9 an ounce. GOL/
* On the TSX, 135 issues were higher, while 83 issues declined for a 1.63-to-1 ratio favouring gainers, with 24.30 million shares traded.
* Meanwhile, the nation's factory sales decreased by 0.6% in November on lower sales of aerospace products and parts, as well as motor vehicles and parts, Statistics Canada said.
* Pot producer Aphria Inc APHA.TO fell 4.4%, the most on the TSX, and the second biggest decliner was its peer Aurora Cannabis Inc ACB.TO, down 3.9%.
* The most heavily traded shares by volume were Zenabis Global Inc ZENA.TO, Blackberry Limited BB.TO and Aphria Inc APHA.TO.
* The TSX posted two new 52-week highs and no new low.
* Across all Canadian issues there were 58 new 52-week highs and two new lows, with total volume of 55.34 million shares.
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Pot producer Aphria Inc APHA.TO fell 4.4%, the most on the TSX, and the second biggest decliner was its peer Aurora Cannabis Inc ACB.TO, down 3.9%. O/R * Canadian wholesale trade increased by 0.7% in November from October on higher sales of machinery and equipment, as well as building materials and supplies, Statistics Canada said. * The largest percentage gainers on the TSX were cybersecurity firm BlackBerry Limited BB.TO, which jumped 5.5% and oil producer Vermilion Energy Inc VET.TO, which rose 3.9%. | * Pot producer Aphria Inc APHA.TO fell 4.4%, the most on the TSX, and the second biggest decliner was its peer Aurora Cannabis Inc ACB.TO, down 3.9%. Updates prices, adds sector details Jan 19 (Reuters) - Canada's main stock index rose on Tuesday, helped by strength in energy stocks, as data showing growth in domestic wholesale trade in November bolstered sentiment. GOL/ * On the TSX, 135 issues were higher, while 83 issues declined for a 1.63-to-1 ratio favouring gainers, with 24.30 million shares traded. | * Pot producer Aphria Inc APHA.TO fell 4.4%, the most on the TSX, and the second biggest decliner was its peer Aurora Cannabis Inc ACB.TO, down 3.9%. Updates prices, adds sector details Jan 19 (Reuters) - Canada's main stock index rose on Tuesday, helped by strength in energy stocks, as data showing growth in domestic wholesale trade in November bolstered sentiment. O/R * Canadian wholesale trade increased by 0.7% in November from October on higher sales of machinery and equipment, as well as building materials and supplies, Statistics Canada said. | * Pot producer Aphria Inc APHA.TO fell 4.4%, the most on the TSX, and the second biggest decliner was its peer Aurora Cannabis Inc ACB.TO, down 3.9%. Updates prices, adds sector details Jan 19 (Reuters) - Canada's main stock index rose on Tuesday, helped by strength in energy stocks, as data showing growth in domestic wholesale trade in November bolstered sentiment. GOL/ * On the TSX, 135 issues were higher, while 83 issues declined for a 1.63-to-1 ratio favouring gainers, with 24.30 million shares traded. |
36956.0 | 2021-01-19 00:00:00 UTC | There's a New Most-Held Stock on Robinhood | ACB | https://www.nasdaq.com/articles/theres-a-new-most-held-stock-on-robinhood-2021-01-19 | nan | nan | Over the past 11 months, investors have navigated through one of the most volatile periods in history for the stock market. The broad-based S&P 500 lost more than a third of its value in about a month during the first quarter of 2020, and has spent almost 10 months in rally mode.
When volatility picks up, investors often think about heading to the sidelines for safety. But that's not what millennial investors have done. Online investing app Robinhood, which has catered to this younger crowd, added approximately 3 million users in 2020.
In many instances, millennial and novice investors love chasing after brand-name and/or momentum stocks. This past week, we saw this come to fruition, with a brand-new company anointed as the most widely held stock on the Robinhood platform.
Image source: Getty Images.
Robinhood investors are enamored with momentum plays and brand-name stocks
But before I unveil the true favorite of millennial investors, let's look back at the three other stocks that have held the No. 1 spot on Robinhood's leaderboard over the past year.
For much of early 2020, Aurora Cannabis (NYSE: ACB) was the most widely held stock on Robinhood. This Canadian licensed producer has always had a cultlike following from the investment community, but has continually disappointed on the operating front. Aurora has written down nearly half of its assets following an unwarranted buying spree, and it continues to dilute its shareholders into oblivion due to its ongoing cash burn.
The only reason Aurora Cannabis lost its No. 1 ranking in May has to do with the 1-for-12 reverse split the company enacted (all Robinhood users with 11 or fewer shares were liquidated out of their position in the company).
After Aurora Cannabis stepped aside, Robinhood investors turned their attention to Ford (NYSE: F). It should be noted that Robinhood gifts free shares of stock to new members, so the interest in Ford may be reflective of users being gifted a share or two of the Detroit automaker. It's also no secret that millennial investors love companies with a single-digit share price, regardless of their market cap. With Ford bouncing back from its coronavirus lows and making an $11 billion investment in electric vehicles (EVs), it was apparently more than enough to lure in millennial investors.
Finally, the apple of Robinhood investors' eyes after Ford was...Apple (NASDAQ: AAPL). The largest publicly traded company in the U.S. created an incredible amount of buzz leading up to its stock split over the summer. Apple is one of the most-recognized brands in the world, has the leading smartphone in the U.S., and is returning a boatload of capital to investors via share buybacks and its dividend. With CEO Tim Cook leading a long-term shift toward higher-margin services, Apple shouldn't have a problem growing or staying relevant for a long time to come.
A Tesla Model S plugged in and charging. Image source: Tesla.
There's a new No. 1 on Robinhood
This past Thursday, Jan. 14, a new company surpassed Apple to become the most widely held on the site: Tesla (NASDAQ: TSLA).
I did say that millennial investors love momentum, and EV maker Tesla definitely brings that to the table. Over the trailing one-, three-, and five-year periods, Tesla's shares are up a respective 667%, 1,130%,, and 1,900%, which leaves the broader market, and practically every other publicly traded stock in existence, eating its dust.
CEO Elon Musk deserve a lot of credit for doing what simply hasn't been done in more than 50 years. He's built an auto company from the ground up to mass production. In 2020, Tesla fell just shy (by 450 vehicles) of Musk's goal of hitting 500,000 deliveries. With two Gigafactories in operation (in Fremont, California, and Shanghai) and two more planned, Tesla should be able to build on its annual output.
Tesla also has clear-cut competitive advantages, for the time being. It was the first U.S. automaker to successfully mass-produce EVs that consumers wanted at scale, and its battery technology provides superior power and range over its competition. If Musk can achieve his goal of improving battery technology, a $25,000 mass-produced EV may be possible. At that price point, combustion-engine vehicles would struggle to compete against the value offered by Tesla.
And, like Apple, Tesla benefited from stock-split euphoria during the summer of 2020. With the company once again above $800 a share, it's not out of the question that another split could be on the horizon.
Image source: Getty Images.
This momentum play could come back to bite
But just because millennial investors pile into a stock, it doesn't mean it'll be a winner. Following an incredible rally in shares of Tesla, it's my belief that Robinhood's No. 1 holding could face some rough patches ahead.
Though Tesla has resolved its cash concerns, the company has yet to figure out how to turn a profit solely from selling EVs. In four of the past five reported quarters, Tesla's minimal adjusted profit has come from selling renewable energy credits to other automakers. Selling those credits isn't sustainable, and it masks the reality that a nearly $800 billion company still isn't profitable on a recurring basis from selling its core product.
That leads to the next point: automakers' operating margins. Whether we're talking about EVs or combustion-engine vehicles, the operating margins for auto stocks are mediocre at best. Tesla's software add-ons may help provide a bit of a margin bump, but they are nowhere close to supporting a forward price-to-earnings ratio of 207.
It'll also be hard for the company to maintain its competitive edge when pretty much every major automaker worldwide is investing heavily in EVs and/or autonomous vehicles. General Motors is putting $27 billion to work in EVs between 2020 and 2025, with the hope of launching over two dozen electric models by mid-decade. Ford, as noted, is putting $11 billion to work in EV production through 2022.
These are companies with over a century of history, excellent brand recognition, and factories capable of quickly ramping up output. I fail to see how Tesla retains its competitive edge for much longer.
The EV space looks frothy, like other next-big-thing investments before it. That bodes poorly for Robinhood's most widely held stock.
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Sean Williams has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple and Tesla. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For much of early 2020, Aurora Cannabis (NYSE: ACB) was the most widely held stock on Robinhood. Aurora has written down nearly half of its assets following an unwarranted buying spree, and it continues to dilute its shareholders into oblivion due to its ongoing cash burn. With CEO Tim Cook leading a long-term shift toward higher-margin services, Apple shouldn't have a problem growing or staying relevant for a long time to come. | For much of early 2020, Aurora Cannabis (NYSE: ACB) was the most widely held stock on Robinhood. I did say that millennial investors love momentum, and EV maker Tesla definitely brings that to the table. Whether we're talking about EVs or combustion-engine vehicles, the operating margins for auto stocks are mediocre at best. | For much of early 2020, Aurora Cannabis (NYSE: ACB) was the most widely held stock on Robinhood. Robinhood investors are enamored with momentum plays and brand-name stocks But before I unveil the true favorite of millennial investors, let's look back at the three other stocks that have held the No. 10 stocks we like better than Tesla When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | For much of early 2020, Aurora Cannabis (NYSE: ACB) was the most widely held stock on Robinhood. Over the past 11 months, investors have navigated through one of the most volatile periods in history for the stock market. But that's not what millennial investors have done. |
36957.0 | 2021-01-16 00:00:00 UTC | Which Major Brand Will Be the Next to Invest in Cannabis? | ACB | https://www.nasdaq.com/articles/which-major-brand-will-be-the-next-to-invest-in-cannabis-2021-01-16 | nan | nan | Marijuana reform at the U.S. federal level could soon be on the way, as it won't be long before Democrats are in control of the House, Senate, and White House. And that's giving the industry a lot of hope that legislation favorable to marijuana could pass, potentially making the already hot cannabis industry an even more appealing investment opportunity. It could even pave the way for companies in other industries to start jockeying for position, partnering up with cannabis producers before legalization -- which could still be years away.
To date, tobacco giant Altria and beer maker Constellation Brands have been the biggest names to invest in cannabis, linking up with Cronos Group and Canopy Growth, respectively. But other companies have been kicking tires and making smaller moves, including Anheuser-Busch (NYSE: BUD), Colgate-Palmolive (NYSE: CL), and Unilever (NYSE: UL). Let's take a look at which company could be the next industry outsider to invest in the burgeoning cannabis market.
Image source: Getty Images.
The billion-dollar incentive
It's not difficult to see why companies may want to get in on the cannabis industry: It's in its early growth stages and there's still tons of room to run. For companies struggling to grow their top lines, cannabis could be an easy way to get a boost. According to data from ResearchAndMarkets, theglobal marketfor cannabidiol (CBD) oil and the overall CBD consumer health market could be worth as much as $123 billion in 2027, averaging a compounded annual growth rate (CAGR) of 25.6% until then. The global cannabis beverage market is narrower in scope, and Fortune Business Insights projects that by 2027 it'll be worth $8.5 billion. That said, this market was worth just $367.4 million in 2019, meaning it's growing at a much higher CAGR of 50.9%.
That 20%-plus growth is hugely attractive to companies like Anheuser-Busch, Unilever, and Colgate-Palmolive, all of which posted single-digit revenue increases in their most recent earnings reports. And while their businesses are stable and offer good diversification with many great brands in their portfolios, only Colgate-Palmolive stock has (narrowly) outperformed the S&P 500 over the past year:
^SPX data by YCharts
Which company is the most likely to make the next big move?
All of the companies noted above would have plenty of incentive to invest in cannabis, but that doesn't mean they'll do it. One reason is that businesses risk turning off their existing customer base by getting into cannabis. According to a Gallup poll from November, the percentage of Americans who believe marijuana should be legal is at a record high of 68%, up from 66% a year ago. It's a rising percentage, but that still means close to one-third of Americans aren't in favor of legalization -- and for companies posting single-digit growth, it may not be worth alienating or upsetting that many consumers. That's why making small moves has made sense thus far.
Unilever's subsidiary, Schmidt's Naturals, is how the U.K.-based company has exposure to the CBD market today. In 2019, Schmidt's Naturals announced it would offer a line of CBD products, including deodorants. Because they're hemp-based, these products are legal in the U.S. as of late 2018, when they were legalized under the Farm Bill. Regulations stipulate that hemp products must contain no more than 0.3% of the psychoactive cannabis compound tetrahydrocannabinol (THC). The CBD market in the U.S. was worth $4.2 billion in 2019, and analysts expect it will rise to $16.8 billion by 2025. Ben & Jerry's ice cream, a key Unilever brand, has also expressed interest in making CBD products, but it won't do so until marijuana is legal federally.
Overall, Unilever appears mildly interested, but management appears to be taking a conservative approach toward cannabis, focusing on hemp for the time being. Marijuana investors shouldn't expect a big move from the company anytime soon.
Colgate-Palmolive may be an even bigger long shot. The company's main foray into the industry thus far is through the acquisition of Hello Products, which last year launched a line of CBD oral care products. These items technically fall under the consumer health category, but it's such a niche area that it's hard to determine just how strong the demand may be for toothpaste or mouthwash that contains CBD. And given that Colgate-Palmolive's business centers around "trusted brands," management may prefer to remain more conservative rather than risk ruffling the feathers of its existing consumer base.
Finally, there's Anheuser-Busch -- which does offer some possibilities in the cannabis space. In fact, the company is technically already in the marijuana market through its joint venture with Canadian cannabis producer Tilray (NASDAQ: TLRY). The two companies reached an agreement in 2019 to work on products for the cannabis beverage market in Canada. However, the rollout has been slow, and many products still hadn't made it to store shelves by early 2020, months after the new segment technically opened for business. That means it's hard to tell thus far how strong sales have been for the joint venture; Tilray made no mention of beverage sales in its most recent quarterly earnings report, released Nov. 9. That said, this head start means Anheuser-Busch is the most likely of the companies listed above to make a big splash in the cannabis industry.
What the next deal may look like
Whether it's Anheuser-Busch or another beverage company, the beer industry appears to be a natural fit for cannabis, as there is a potential for their products and target markets to overlap. Any deal will likely involve a Canadian cannabis company, since pot is legal in Canada and investing in a licensed producer there won't create any legal problems.
It's possible that Anheuser-Busch will invest in Tilray and strengthen its relationship with the British Columbia-based company. However, the upcoming merger between Tilray and Aphria could complicate things. Either way, there are many other cannabis companies out there for Anheuser-Busch or another beverage company to partner with or invest in, including industry giant Aurora Cannabis, which has struggled to find a deal.
While there's no guarantee if or when a deal might happen, investing in Anheuser-Busch today could be a great way to gain at least some exposure to the cannabis industry without having to invest directly in a licensed producer. Although the stock has been struggling over the past year, it's likely to recover along with the economy as restaurants eventually get their operations running normally again. And if Anheuser-Busch ends up making cannabis a bigger part of its overall strategy, it could make the beer company an even hotter investment over the long term.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
David Jagielski has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool recommends Anheuser-Busch InBev NV. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And while their businesses are stable and offer good diversification with many great brands in their portfolios, only Colgate-Palmolive stock has (narrowly) outperformed the S&P 500 over the past year: ^SPX data by YCharts Which company is the most likely to make the next big move? It's a rising percentage, but that still means close to one-third of Americans aren't in favor of legalization -- and for companies posting single-digit growth, it may not be worth alienating or upsetting that many consumers. Ben & Jerry's ice cream, a key Unilever brand, has also expressed interest in making CBD products, but it won't do so until marijuana is legal federally. | Ben & Jerry's ice cream, a key Unilever brand, has also expressed interest in making CBD products, but it won't do so until marijuana is legal federally. In fact, the company is technically already in the marijuana market through its joint venture with Canadian cannabis producer Tilray (NASDAQ: TLRY). Any deal will likely involve a Canadian cannabis company, since pot is legal in Canada and investing in a licensed producer there won't create any legal problems. | What the next deal may look like Whether it's Anheuser-Busch or another beverage company, the beer industry appears to be a natural fit for cannabis, as there is a potential for their products and target markets to overlap. Any deal will likely involve a Canadian cannabis company, since pot is legal in Canada and investing in a licensed producer there won't create any legal problems. Either way, there are many other cannabis companies out there for Anheuser-Busch or another beverage company to partner with or invest in, including industry giant Aurora Cannabis, which has struggled to find a deal. | It could even pave the way for companies in other industries to start jockeying for position, partnering up with cannabis producers before legalization -- which could still be years away. That's why making small moves has made sense thus far. Either way, there are many other cannabis companies out there for Anheuser-Busch or another beverage company to partner with or invest in, including industry giant Aurora Cannabis, which has struggled to find a deal. |
36958.0 | 2021-01-16 00:00:00 UTC | Is Aurora Cannabis Stock a Buy? | ACB | https://www.nasdaq.com/articles/is-aurora-cannabis-stock-a-buy-2021-01-16 | nan | nan | Stocks in the cannabis sector have been on a wild ride since Canada legalized recreational marijuana use in October 2018. At first, there was a broad spike in prices as investors bid up the entire industry. But later, cannabis growers came back down to earth, and stock moves started to be more closely tied to the specific situations of the individual companies.
For those companies, a great deal hangs on the question of whether the U.S. will legalize marijuana at the federal level, and if so, when. Until that's answered, different operators are taking different paths. Aurora Cannabis (NYSE: ACB) has been a popular stock with retail investors, but the direction it's taken has not led to profitability, and it's now in the midst of a major course correction. The outcome of that will determine whether the stock becomes a winner.
Image source: Getty Images.
The turnaround plan
Aurora has spent much of the past year raising capital and restructuring its business in an effort to contain its losses. The changes included cutting jobs, closing operations to consolidate production, and selling additional stock. The goals are to reduce expenses, more closely scrutinize capital expenditures, and improve the balance sheet en route to attaining profitability.
In its fiscal 2021 first quarter, which ended Sept. 30, Aurora had revenue of about $52 million. This was a decline from the prior-year period -- definitely not what investors in a growth industry are hoping to see. Also, in a recent business update, Aurora warned that its "back to basics" business strategy "will delay the company's ability to achieve positive adjusted EBITDA as management invests in its consumer business."
Competitors are moving forward
While Aurora looks inward as it focuses on its transformation, competitors are looking outward for growth opportunities -- and attempting to establish frameworks in anticipation of the possible legalization of marijuana at the federal level in the U.S.
For example, in early November, fellow Canadian grower Aphria (NASDAQ: APHA) purchased U.S.-based craft brewer SweetWater Brewing, which sells the most popular hemp-flavored beer in the country. When it announced the deal, Aphria said that it provides "a platform and infrastructure within the U.S. to enable it to access the U.S. market more quickly in the event of federal legalization." Aphria will also be merging with Tilray to create one the largest cannabis company in the world in terms of revenue.
Canopy Growth has strong ties with American beverage giant Constellation Brands (NYSE: STZ). Last year, Constellation added nearly $200 million to the $4 billion investment it originally made in Canopy Growth.
Most recently, HEXO (NYSE: HEXO) and Molson Coors announced that their joint venture, Truss CBD USA, is launching a new, non-alcoholic, sparkling CBD-infused drink in Colorado.
The bottom line
While Aurora's stock is rebounding from the lows it sank to in October, it's hard to call it a long-term buy when its competitors are aggressively planning for the future. On top of that, Aurora's peers are growing their revenues more quickly than it is.
ACB Revenue (Quarterly) data by YCharts
Aphria, for example, just reported that for its fiscal 2021 second quarter, which ended Nov. 30, revenues grew by 33% year over year to a company record.
There are likely to be many winners over the long term in the cannabis sector, so one good approach to investing in it would be to hold a small basket of stocks in the industry. But I don't think that Aurora Cannabis has deserved a spot in that basket -- at least not yet. Investors should keep an eye on the company's efforts to cut costs and reach positive EBITDA before initiating a position.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Howard Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) has been a popular stock with retail investors, but the direction it's taken has not led to profitability, and it's now in the midst of a major course correction. ACB Revenue (Quarterly) data by YCharts Aphria, for example, just reported that for its fiscal 2021 second quarter, which ended Nov. 30, revenues grew by 33% year over year to a company record. Competitors are moving forward While Aurora looks inward as it focuses on its transformation, competitors are looking outward for growth opportunities -- and attempting to establish frameworks in anticipation of the possible legalization of marijuana at the federal level in the U.S. For example, in early November, fellow Canadian grower Aphria (NASDAQ: APHA) purchased U.S.-based craft brewer SweetWater Brewing, which sells the most popular hemp-flavored beer in the country. | Aurora Cannabis (NYSE: ACB) has been a popular stock with retail investors, but the direction it's taken has not led to profitability, and it's now in the midst of a major course correction. ACB Revenue (Quarterly) data by YCharts Aphria, for example, just reported that for its fiscal 2021 second quarter, which ended Nov. 30, revenues grew by 33% year over year to a company record. Competitors are moving forward While Aurora looks inward as it focuses on its transformation, competitors are looking outward for growth opportunities -- and attempting to establish frameworks in anticipation of the possible legalization of marijuana at the federal level in the U.S. For example, in early November, fellow Canadian grower Aphria (NASDAQ: APHA) purchased U.S.-based craft brewer SweetWater Brewing, which sells the most popular hemp-flavored beer in the country. | Aurora Cannabis (NYSE: ACB) has been a popular stock with retail investors, but the direction it's taken has not led to profitability, and it's now in the midst of a major course correction. ACB Revenue (Quarterly) data by YCharts Aphria, for example, just reported that for its fiscal 2021 second quarter, which ended Nov. 30, revenues grew by 33% year over year to a company record. Competitors are moving forward While Aurora looks inward as it focuses on its transformation, competitors are looking outward for growth opportunities -- and attempting to establish frameworks in anticipation of the possible legalization of marijuana at the federal level in the U.S. For example, in early November, fellow Canadian grower Aphria (NASDAQ: APHA) purchased U.S.-based craft brewer SweetWater Brewing, which sells the most popular hemp-flavored beer in the country. | Aurora Cannabis (NYSE: ACB) has been a popular stock with retail investors, but the direction it's taken has not led to profitability, and it's now in the midst of a major course correction. ACB Revenue (Quarterly) data by YCharts Aphria, for example, just reported that for its fiscal 2021 second quarter, which ended Nov. 30, revenues grew by 33% year over year to a company record. For those companies, a great deal hangs on the question of whether the U.S. will legalize marijuana at the federal level, and if so, when. |
36959.0 | 2021-01-16 00:00:00 UTC | 3 Top Robinhood Stocks to Sell Before the Next Market Crash | ACB | https://www.nasdaq.com/articles/3-top-robinhood-stocks-to-sell-before-the-next-market-crash-2021-01-16 | nan | nan | Investors on the fee-free trading platform Robinhood are often willing to take on risk in exchange for the potential to earn some mammoth returns. It's why shares of Hertz Global Holdings skyrocketed last year even as investors learned that the company was in danger of going out of business. Taking the contrarian approach was tempting to some -- after all, if Hertz turned things around, its share price would double, triple, maybe even quadruple in value. But positions like that can destroy your portfolio.
And it's not just ultra-risky stocks that can cause problems. As investors saw last March, a market crash affecting all sectors can devastate -- quickly. Another one could be coming this year, especially with the markets potentially near their peak. The Dow Jones Industrial Average hit another record high this month even as the economy continues to struggle due to the coronavirus pandemic. Three popular Robinhood stocks that could be especially vulnerable in a market crash are Aurora Cannabis (NYSE: ACB), Walt Disney (NYSE: DIS), and Snap (NYSE: SNAP).
Image source: Getty Images.
1. Aurora Cannabis
Aurora is a risky investment even on the best of days. It's rallying lately because in November, voters in Arizona, Montana, New Jersey, and South Dakota chose to legalize recreational marijuana. Joe Biden's election win and a Democratic majority in Washington, D.C., also improve the prospects of federal legalization, which would open up the market for the Canadian cannabis producer. So it's no surprise that since November, shares of Aurora have been soaring -- it's up more than 150%, blowing past the S&P 500's 16% returns during that time.
Even though the Canadian cannabis producer may not directly benefit from these recent developments (at least not anytime soon), bullishness in the cannabis industry is contagious and usually benefits most pot stocks. The problem is that Aurora could quickly give those gains back. In February, the company will likely release its earnings results, which could bring its shares back down -- posting underwhelming numbers has been the norm for Aurora.
When the company released its first-quarter earnings on Nov. 9, its net revenue of 67.8 million Canadian dollars for the period ending Sept. 30 was down 1% from the previous quarter. That's not inspiring for a growth stock in one of the hottest sectors in the world. And the further you look down Aurora's income statement, the more troublesome it becomes. Its hefty first-quarter loss of CA$109.5 million was actually tame compared with the previous quarter, in which it incurred a staggering net loss of CA$1.9 billion, with impairment charges, restructuring, and all sorts of nonoperating items crippling its bottom line.
Aurora's stock looks good right now, but with earnings coming up next month and a market crash potentially not far away, even Robinhood investors should consider cashing out before the very probable nosedive takes place.
2. Walt Disney
Disney is also punching above its weight of late. Since November, the stock is up by about 50% to trade near its 52-week high. Sure, the company's streaming service, Disney+, is doing better than expected -- the 73.7 million paid subscribers it's gathered over its first year puts it on track to smash its goal of 60 million to 90 million subscribers by 2024. But for the business to really be in good shape, Disney needs tourists flocking to its parks, and that just isn't happening as COVID-19 cases continue to climb.
The company released its fourth-quarter earnings on Nov. 12. Revenue of $14.7 billion for the period ended Oct. 3 was down 23% year over year, largely because of a 61% decline in sales from parks, experiences, and products. Revenue from that segment totaled $2.6 billion, $4.1 billion less than the prior-year period.
Disney's share price reflects an optimistic outlook that might be more appropriate if the pandemic were under control. Looking at the stock, investors might think all is well with Disney, but that isn't the case.
3. Snap
Snap, on the other hand, is a business that can continue to do well even as consumers stay at home during the pandemic. The company behind social-media juggernaut Snapchat makes it easy for people to stay connected while entertaining themselves and others. However, the stock has doubled in value since November to trade at a 52-week high of about $55. When the markets crash, investors will be looking for safety. A company like Snap, which has incurred losses totaling $1.1 billion over the trailing 12 months, doesn't fall into that category.
When the markets last plunged in March 2020, Snap's stock price fell below $10. And even without another crash, there's the danger that a decline in COVID-19 cases and a return to normalcy could actually hurt the company -- if people start going outside and participating in gatherings again, they may spend less time on their phones. Snap has enjoyed significant growth during the pandemic; in its most recent earnings report, released Oct. 20 for the period ended Sept. 30, sales were up by 52% year over year to $679 million. The previous period's growth rate of 17% was much more modest.
Investors are currently paying quite a premium for the business; Snap's price-to-sales (P/S) ratio of 35 is much higher than the 14 times revenue investors were paying at the end of 2019. This high P/S multiple, the company's lack of profitability, and the questions around its post-pandemic performance are three reasons why Snap's stock could be very vulnerable during a crash.
10 stocks we like better than Aurora Cannabis Inc.
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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David Jagielski has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Three popular Robinhood stocks that could be especially vulnerable in a market crash are Aurora Cannabis (NYSE: ACB), Walt Disney (NYSE: DIS), and Snap (NYSE: SNAP). Joe Biden's election win and a Democratic majority in Washington, D.C., also improve the prospects of federal legalization, which would open up the market for the Canadian cannabis producer. Aurora's stock looks good right now, but with earnings coming up next month and a market crash potentially not far away, even Robinhood investors should consider cashing out before the very probable nosedive takes place. | Three popular Robinhood stocks that could be especially vulnerable in a market crash are Aurora Cannabis (NYSE: ACB), Walt Disney (NYSE: DIS), and Snap (NYSE: SNAP). When the company released its first-quarter earnings on Nov. 9, its net revenue of 67.8 million Canadian dollars for the period ending Sept. 30 was down 1% from the previous quarter. Snap has enjoyed significant growth during the pandemic; in its most recent earnings report, released Oct. 20 for the period ended Sept. 30, sales were up by 52% year over year to $679 million. | Three popular Robinhood stocks that could be especially vulnerable in a market crash are Aurora Cannabis (NYSE: ACB), Walt Disney (NYSE: DIS), and Snap (NYSE: SNAP). Aurora's stock looks good right now, but with earnings coming up next month and a market crash potentially not far away, even Robinhood investors should consider cashing out before the very probable nosedive takes place. See the 10 stocks *Stock Advisor returns as of November 20, 2020 David Jagielski has no position in any of the stocks mentioned. | Three popular Robinhood stocks that could be especially vulnerable in a market crash are Aurora Cannabis (NYSE: ACB), Walt Disney (NYSE: DIS), and Snap (NYSE: SNAP). When the company released its first-quarter earnings on Nov. 9, its net revenue of 67.8 million Canadian dollars for the period ending Sept. 30 was down 1% from the previous quarter. 10 stocks we like better than Aurora Cannabis Inc. |
36960.0 | 2021-01-15 00:00:00 UTC | Stock Alert: Aurora Cannabis Climbs 9% After Distribution Deal With Great North Distributors | ACB | https://www.nasdaq.com/articles/stock-alert%3A-aurora-cannabis-climbs-9-after-distribution-deal-with-great-north | nan | nan | (RTTNews) - Shares of Canadian cannabis company Aurora Cannabis Inc. (ACB, ACB.TO) are rising more than 9 percent or $1.14 in Friday's morning trade at $13.10.
Thursday, Aurora Cannabis said it has entered into an agreement with Great North Distributors Inc., Canada's first national sales broker for legalized adult-use cannabis. Under the deal, Great North will be the exclusive representative for Aurora's portfolio of brands across the Canadian cannabis retail environment.
Great North Distributors, a wholly-owned Canadian subsidiary of Southern Glazer's Wine & Spirits, will assume responsibility for Aurora's sales execution on January 25, 2021.
Aurora Cannabis has traded in a range of $3.71 to $26.40 in the past 52 weeks.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Shares of Canadian cannabis company Aurora Cannabis Inc. (ACB, ACB.TO) are rising more than 9 percent or $1.14 in Friday's morning trade at $13.10. Thursday, Aurora Cannabis said it has entered into an agreement with Great North Distributors Inc., Canada's first national sales broker for legalized adult-use cannabis. Under the deal, Great North will be the exclusive representative for Aurora's portfolio of brands across the Canadian cannabis retail environment. | (RTTNews) - Shares of Canadian cannabis company Aurora Cannabis Inc. (ACB, ACB.TO) are rising more than 9 percent or $1.14 in Friday's morning trade at $13.10. Thursday, Aurora Cannabis said it has entered into an agreement with Great North Distributors Inc., Canada's first national sales broker for legalized adult-use cannabis. Great North Distributors, a wholly-owned Canadian subsidiary of Southern Glazer's Wine & Spirits, will assume responsibility for Aurora's sales execution on January 25, 2021. | (RTTNews) - Shares of Canadian cannabis company Aurora Cannabis Inc. (ACB, ACB.TO) are rising more than 9 percent or $1.14 in Friday's morning trade at $13.10. Thursday, Aurora Cannabis said it has entered into an agreement with Great North Distributors Inc., Canada's first national sales broker for legalized adult-use cannabis. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Shares of Canadian cannabis company Aurora Cannabis Inc. (ACB, ACB.TO) are rising more than 9 percent or $1.14 in Friday's morning trade at $13.10. Thursday, Aurora Cannabis said it has entered into an agreement with Great North Distributors Inc., Canada's first national sales broker for legalized adult-use cannabis. Under the deal, Great North will be the exclusive representative for Aurora's portfolio of brands across the Canadian cannabis retail environment. |
36961.0 | 2021-01-15 00:00:00 UTC | Pre-Market Most Active for Jan 15, 2021 : CHRA, OBSV, BB, TLRY, PLTR, NIO, DBVT, APHA, CCIV, ACB, FCEL, AMTX | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-jan-15-2021-%3A-chra-obsv-bb-tlry-pltr-nio-dbvt-apha-cciv-acb | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 19.94 to 12,918.63. The total Pre-Market volume is currently 28,374,230 shares traded.
The following are the most active stocks for the pre-market session:
Charah Solutions, Inc. (CHRA) is +2.88 at $5.59, with 6,267,419 shares traded. CHRA's current last sale is 131.53% of the target price of $4.25.
ObsEva SA (OBSV) is +1.01 at $3.53, with 6,138,914 shares traded. OBSV's current last sale is 44.13% of the target price of $8.
BlackBerry Limited (BB) is +1.94 at $11.05, with 4,179,815 shares traded. BB's current last sale is 200.91% of the target price of $5.5.
Tilray, Inc. (TLRY) is +3.19 at $21.75, with 2,985,490 shares traded. TLRY's current last sale is 217.5% of the target price of $10.
Palantir Technologies Inc. (PLTR) is +1.38 at $26.30, with 2,482,002 shares traded. PLTR's current last sale is 181.38% of the target price of $14.5.
NIO Inc. (NIO) is -1.12 at $59.75, with 2,304,450 shares traded. NIO's current last sale is 181.06% of the target price of $33.
DBV Technologies S.A. (DBVT) is +2.05 at $5.79, with 2,088,760 shares traded. DBVT's current last sale is 72.38% of the target price of $8.
Aphria Inc. (APHA) is +1.84 at $13.95, with 1,475,716 shares traded., following a 52-week high recorded in prior regular session.
Churchill Capital Corp IV (CCIV) is +0.59 at $17.95, with 1,470,549 shares traded., following a 52-week high recorded in prior regular session.
Aurora Cannabis Inc. (ACB) is +1.1 at $13.06, with 1,391,584 shares traded. ACB's current last sale is 142.11% of the target price of $9.19.
FuelCell Energy, Inc. (FCEL) is -0.7 at $16.90, with 922,117 shares traded.FCEL is scheduled to provide an earnings report on 1/21/2021, for the fiscal quarter ending Oct2020. The consensus earnings per share forecast is -0.07 per share, which represents a -12 percent increase over the EPS one Year Ago
Aemetis, Inc (AMTX) is +0.64 at $4.14, with 918,957 shares traded. As reported by Zacks, the current mean recommendation for AMTX is in the "strong buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +1.1 at $13.06, with 1,391,584 shares traded. ACB's current last sale is 142.11% of the target price of $9.19. Aphria Inc. (APHA) is +1.84 at $13.95, with 1,475,716 shares traded., following a 52-week high recorded in prior regular session. | Aurora Cannabis Inc. (ACB) is +1.1 at $13.06, with 1,391,584 shares traded. ACB's current last sale is 142.11% of the target price of $9.19. CHRA's current last sale is 131.53% of the target price of $4.25. | Aurora Cannabis Inc. (ACB) is +1.1 at $13.06, with 1,391,584 shares traded. ACB's current last sale is 142.11% of the target price of $9.19. The total Pre-Market volume is currently 28,374,230 shares traded. | Aurora Cannabis Inc. (ACB) is +1.1 at $13.06, with 1,391,584 shares traded. ACB's current last sale is 142.11% of the target price of $9.19. The following are the most active stocks for the pre-market session: |
36962.0 | 2021-01-15 00:00:00 UTC | Aurora Cannabis Selects Great North Distributors As Exclusive Distributor In Canada | ACB | https://www.nasdaq.com/articles/aurora-cannabis-selects-great-north-distributors-as-exclusive-distributor-in-canada-2021 | nan | nan | (RTTNews) - Canadian cannabis company Aurora Cannabis Inc. said it has entered into an agreement with Great North Distributors Inc., Canada's first national sales broker for legalized adult-use cannabis.
Under the deal, Great North will be the exclusive representative for Aurora's portfolio of brands across the Canadian cannabis retail environment.
Great North Distributors, a wholly-owned Canadian subsidiary of Southern Glazer's Wine & Spirits, will assume responsibility for Aurora's sales execution on January 25, 2021.
Aurora Cannabis' brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD.
"The agreement is designed to significantly bolster Aurora's market position in Canada. Great North brings deep experience across the spectrum of sales capabilities that will further differentiate Aurora as a leader in the growing cannabis space," said Miguel Martin, CEO of Aurora Cannabis.
Aurora Cannabis noted that Great North has reach across every province in Canada, with established relationships and expertise in working with provincially-owned and operated retailers as well as private retailers in Canada's cannabis industry.
Great North applies data analytics capabilities to the sector, providing suppliers with a data-driven approach to cannabis sales.
In November 2019, Tinley Beverage Co. said it signed a deal with Great North Distributors to distribute its cannabis beverages throughout Canada. Tinley represented the first U.S. brand in Great North's portfolio.
Great North is also the exclusive distributor for other brands, including Aphria and Pasha Brands.
Aphria said in May 2018 that it signed an agreement for Great North Distributors to serve as exclusive manufacturer's representative for Aphria's adult-use cannabis products throughout Canada.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Under the deal, Great North will be the exclusive representative for Aurora's portfolio of brands across the Canadian cannabis retail environment. Great North Distributors, a wholly-owned Canadian subsidiary of Southern Glazer's Wine & Spirits, will assume responsibility for Aurora's sales execution on January 25, 2021. Great North applies data analytics capabilities to the sector, providing suppliers with a data-driven approach to cannabis sales. | Under the deal, Great North will be the exclusive representative for Aurora's portfolio of brands across the Canadian cannabis retail environment. Aurora Cannabis' brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD. Aphria said in May 2018 that it signed an agreement for Great North Distributors to serve as exclusive manufacturer's representative for Aphria's adult-use cannabis products throughout Canada. | (RTTNews) - Canadian cannabis company Aurora Cannabis Inc. said it has entered into an agreement with Great North Distributors Inc., Canada's first national sales broker for legalized adult-use cannabis. Great North brings deep experience across the spectrum of sales capabilities that will further differentiate Aurora as a leader in the growing cannabis space," said Miguel Martin, CEO of Aurora Cannabis. Aurora Cannabis noted that Great North has reach across every province in Canada, with established relationships and expertise in working with provincially-owned and operated retailers as well as private retailers in Canada's cannabis industry. | Under the deal, Great North will be the exclusive representative for Aurora's portfolio of brands across the Canadian cannabis retail environment. Tinley represented the first U.S. brand in Great North's portfolio. Aphria said in May 2018 that it signed an agreement for Great North Distributors to serve as exclusive manufacturer's representative for Aphria's adult-use cannabis products throughout Canada. |
36963.0 | 2021-01-15 00:00:00 UTC | The 4 Robinhood Stocks Wall Street Hates the Most | ACB | https://www.nasdaq.com/articles/the-4-robinhood-stocks-wall-street-hates-the-most-2021-01-15 | nan | nan | Robinhood has taken the investing universe by storm, arming a new generation of investors with the tools they need to start putting money to work in the stock market. Many young adults are getting into stock investing for the very first time, and the app-based commission-free brokerage has a lot to do with opening the door to those who were previously reluctant to invest.
However, Robinhood investors don't always follow Wall Street's rules. They often like speculative stocks that have chances for big gains but also outsized risk. Many of them trade frequently and sometimes buy shares of doomed companies in the hope of making a quick short-term profit.
As a result, many of the favorite stocks on Robinhood have gotten utterly panned by Wall Street stock analysts. In particular, four of the stocks on the Robinhood Top 100 popularity list stand out as having favorable ratings of less than 10% from analysts. Who's right: Robinhood investors or Wall Street? Read on to take a closer look.
Image source: Getty Images.
1. Carnival
Carnival (NYSE: CCL) has gotten a lot of attention over the past year, as the cruise-ship giant has arguably been the company hardest hit by the COVID-19 pandemic. The stock is down 57% over the past year, although it's jumped 140% from its worst levels in late March and early April. Out of 18 analyst ratings that Robinhood tracks, only one rates Carnival a buy, compared to four sell ratings and 13 hold ratings.
It's easy to understand why Wall Street isn't excited about Carnival. The company hasn't been able to set sail for nearly a year now, and with the most recent wave of COVID-19 cases, even the release of vaccines hasn't allowed Carnival to set firm expectations about when it will be able to go out on the open seas again. Meanwhile, the company expects to lose another $2 billion in the fourth quarter and continues to burn cash at an alarming rate.
The hope among bullish shareholders is that at some point, the pandemic will come under control, and when it does, cruise fans will be excited to finally take the cruises they've had to put off for so long. But in the meantime, Carnival has had to continue to raise cash, diluting the interests of current shareholders. That means an eventual recovery might not benefit the stock as much as Robinhood investors would like. Carnival will probably survive, but it might not show up in much higher stock prices.
2. Aurora Cannabis and 3. HEXO
Marijuana stocks are back in the news, and hopes for legalization in the U.S. have many investors betting big on cannabis. However, Wall Street isn't convinced. Aurora Cannabis (NYSE: ACB) gets only a single buy rating among 17 analysts, with four sells and 12 holds. HEXO (NYSE: HEXO) isn't much different, with one buy, 12 holds, and one sell.
Both Aurora and HEXO had terrible times in 2020, falling 68% and 42%, respectively. But they've bounced back to start the new year. HEXO has almost doubled, while Aurora is up 40%.
Bullish investors hope that a new administration in Washington will work to decriminalize marijuana at the federal level. That won't automatically open up markets in all states but would make it far easier for companies like HEXO and Aurora to do business in the U.S., particularly in those jurisdictions that have already legalized cannabis for medical and/or recreational use.
Skeptics point to Aurora's track record of dilutive stock offerings, which seem to happen just when share prices are starting to move higher. For HEXO, though, a joint venture with Molson Coors (NYSE: TAP) to release some CBD-infused beverage products in Colorado could provide a nice entry point from which to consider further growth opportunities. Nevertheless, both companies face challenges from competition and need to overcome the operational inefficiencies that have held them back.
4. Slack Technologies
Finally, Slack Technologies (NYSE: WORK) rounds out the list of Robinhood stocks least loved by Wall Street. The stock garners only a single buy rating out of 22 analysts, while the other 21 are firm in their neutrality by having hold ratings.
In the case of Slack, "hate" is too strong a word to describe Wall Street's mood. That's because the hold ratings likely stem from Slack's pending acquisition by salesforce.com (NYSE: CRM). Under the terms of that deal, Salesforce will pay $26.79 per share in cash, and Slack investors will also get 0.0776 shares of Salesforce stock, which would currently be worth about $17 at recent prices.
As a result, owning Slack is largely like investing 40% of your money in Salesforce and keeping the other 60% in cash. Salesforce has solid prospects for the future, with 35 out of 43 analysts giving it a buy rating, as reported by Robinhood. That's a solid vote of confidence for the tech giant, and holding onto shares will give Robinhood investors exposure to Salesforce without any further tax consequences if the deal goes through.
Who's right: Wall Street or Robinhood investors?
Among these stocks, Slack looks like the safest bet to produce longer-term gains, assuming that shareholders hang onto their Salesforce stock once the merger is complete. HEXO, Aurora, and Carnival still face major uncertainties, though.
That doesn't mean that Wall Street's right and Robinhood investors are wrong -- but it does mean that if you're considering buying those stocks, you should know exactly what you're getting into before you invest.
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Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Salesforce.com and Slack Technologies. The Motley Fool recommends Carnival and HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) gets only a single buy rating among 17 analysts, with four sells and 12 holds. That won't automatically open up markets in all states but would make it far easier for companies like HEXO and Aurora to do business in the U.S., particularly in those jurisdictions that have already legalized cannabis for medical and/or recreational use. For HEXO, though, a joint venture with Molson Coors (NYSE: TAP) to release some CBD-infused beverage products in Colorado could provide a nice entry point from which to consider further growth opportunities. | Aurora Cannabis (NYSE: ACB) gets only a single buy rating among 17 analysts, with four sells and 12 holds. Out of 18 analyst ratings that Robinhood tracks, only one rates Carnival a buy, compared to four sell ratings and 13 hold ratings. Slack Technologies Finally, Slack Technologies (NYSE: WORK) rounds out the list of Robinhood stocks least loved by Wall Street. | Aurora Cannabis (NYSE: ACB) gets only a single buy rating among 17 analysts, with four sells and 12 holds. Out of 18 analyst ratings that Robinhood tracks, only one rates Carnival a buy, compared to four sell ratings and 13 hold ratings. Slack Technologies Finally, Slack Technologies (NYSE: WORK) rounds out the list of Robinhood stocks least loved by Wall Street. | Aurora Cannabis (NYSE: ACB) gets only a single buy rating among 17 analysts, with four sells and 12 holds. HEXO Marijuana stocks are back in the news, and hopes for legalization in the U.S. have many investors betting big on cannabis. HEXO (NYSE: HEXO) isn't much different, with one buy, 12 holds, and one sell. |
36964.0 | 2021-01-14 00:00:00 UTC | ACB Stock Alert: Aurora Cannabis Shares Surge Following Big ‘Great North’ Deal | ACB | https://www.nasdaq.com/articles/acb-stock-alert%3A-aurora-cannabis-shares-surge-following-big-great-north-deal-2021-01-14 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Shares of Aurora Cannabis (NYSE:ACB) stock got a healthy boost on Thursday after announcing a deal with Great North Distributors.
ACB) logo on a web page" width="300" height="169">
Source: Jarretera / Shutterstock.com
According to Aurora Cannabis, Great North will be acting as the exclusive representative for the company’s brands in Canada’s retail market. That’s boosting ACB stock up as Great North is the “first national sales broker for legalized adult-use cannabis” in the country.
The deal between Aurora Cannabis and Great North will have the latter take over the distribution of the former’s products starting on Jan 25, 2021. The distributer brings with it experience and reach that spreads across all of Canada’s provinces. It also has working relations with “provincially-owned and operated retailers and private retailers” of cannabis in the country.
7 Dividend Stocks That Are Growing Their Payouts
Miguel Martin, CEO of Aurora Cannabis, said this about the news pushing ACB stock higher today.
“The agreement is designed to significantly bolster Aurora’s market position in Canada. Great North brings deep experience across the spectrum of sales capabilities that will further differentiate Aurora as a leader in the growing cannabis space.”
ACB stock was up 8.4% as of Thursday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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The post ACB Stock Alert: Aurora Cannabis Shares Surge Following Big ‘Great North’ Deal appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com According to Aurora Cannabis, Great North will be acting as the exclusive representative for the company’s brands in Canada’s retail market. That’s boosting ACB stock up as Great North is the “first national sales broker for legalized adult-use cannabis” in the country. Great North brings deep experience across the spectrum of sales capabilities that will further differentiate Aurora as a leader in the growing cannabis space.” ACB stock was up 8.4% as of Thursday afternoon. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of Aurora Cannabis (NYSE:ACB) stock got a healthy boost on Thursday after announcing a deal with Great North Distributors. ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com According to Aurora Cannabis, Great North will be acting as the exclusive representative for the company’s brands in Canada’s retail market. More on Marijuana Stocks Cannabis Stocks: 5 Reasons HEXO, MJ and APHA Stock Are on the Move Today The Top 7 Marijuana Stocks to Buy for January 3 Cannabis Stocks to Buy for the ‘Blue Wave’ Catalyst SNDL Stock: Why Sundial Shares Are Climbing High Today Cannabis Stocks: Why TLRY, CGC and ACB Stock Are on the Move The post ACB Stock Alert: Aurora Cannabis Shares Surge Following Big ‘Great North’ Deal appeared first on InvestorPlace. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of Aurora Cannabis (NYSE:ACB) stock got a healthy boost on Thursday after announcing a deal with Great North Distributors. Great North brings deep experience across the spectrum of sales capabilities that will further differentiate Aurora as a leader in the growing cannabis space.” ACB stock was up 8.4% as of Thursday afternoon. More on Marijuana Stocks Cannabis Stocks: 5 Reasons HEXO, MJ and APHA Stock Are on the Move Today The Top 7 Marijuana Stocks to Buy for January 3 Cannabis Stocks to Buy for the ‘Blue Wave’ Catalyst SNDL Stock: Why Sundial Shares Are Climbing High Today Cannabis Stocks: Why TLRY, CGC and ACB Stock Are on the Move The post ACB Stock Alert: Aurora Cannabis Shares Surge Following Big ‘Great North’ Deal appeared first on InvestorPlace. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shares of Aurora Cannabis (NYSE:ACB) stock got a healthy boost on Thursday after announcing a deal with Great North Distributors. ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com According to Aurora Cannabis, Great North will be acting as the exclusive representative for the company’s brands in Canada’s retail market. Great North brings deep experience across the spectrum of sales capabilities that will further differentiate Aurora as a leader in the growing cannabis space.” ACB stock was up 8.4% as of Thursday afternoon. |
36965.0 | 2021-01-14 00:00:00 UTC | Why Aphria, Aurora Cannabis, and HEXO Stocks Jumped Today | ACB | https://www.nasdaq.com/articles/why-aphria-aurora-cannabis-and-hexo-stocks-jumped-today-2021-01-14 | nan | nan | What happened
Stocks of Canadian cannabis growers are moving higher Thursday, after some positive news was released. Shares of Aphria (NASDAQ: APHA) were up 17%, while those of HEXO (NYSE: HEXO) were up 16%, as of 11:45 a.m. EST. Aurora Cannabis (NYSE: ACB) is the laggard of the group, with shares 9% higher.
So what
Aphria released fiscal second-quarter 2021 earnings Thursday morning, showing continued growing revenue, as well as adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). Separately, HEXO and beverage giant Molson Coors (NYSE: TAP) said the companies' joint venture, Truss CBD USA, is preparing to launch a new beverage.
Image source: Getty Images.
Now what
Aphria has had an active several months. In November 2020, the company closed on a $300 million acquisition of U.S. craft brewer SweetWater Brewing Company. Aphria chairman and CEO Irwin Simon called it a "significant step forward to build upon our existing foundation in cannabis." He added the company plans to strategically utilize SweetWater's existing distribution infrastructure "to accelerate Aphria's entry into the U.S. ahead of federal legalization of cannabis."
Last month, the company announced a merger with fellow Canadian grower Tilray (NASDAQ: TLRY) to create one of the largest global cannabis companies. Simon will lead the newly combined company.
Today, Aphria said its fiscal second quarter showed strong recreational cannabis sales, as well as a "solid start" for its international medical marijuana sales. Net cannabis revenue nearly doubled for the quarter compared to the year-ago period, and overall net revenue -- which also includes distribution and beverage revenue -- grew 33%.
Shares in HEXO are reacting to a new product launch from the company's joint venture with Molson Coors. Truss CBD USA unveiled Veryvell, a new group of non-alcoholic, sparkling CBD drinks. HEXO says Truss Beverage Brands already has a top market position with Canadian consumers. The new line will be available in three flavors exclusively in Colorado, as the company says it plans to emulate the success in the United States. HEXO CEO and co-founder Sebastien St-Louis said in a statement, "We have near-term plans to invest additional capital in the USA to support Truss CBD USA," and that the company is currently in negotiations for partners outside of beverages.
Aurora is a popular name with investors, and is likely trading in sympathy of the positive peer news. Trading volume exceeds the others in the industry, as seen on the one-year chart below.
ACB 30-Day Average Daily Volume data by YCharts
Investors should know, however, that popularity isn't what drives investment gains. But it is a good sign for the overall sector when growth is reported in several areas. Looking into the underlying business results is how investors should decide which names to put their money in.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACB 30-Day Average Daily Volume data by YCharts Investors should know, however, that popularity isn't what drives investment gains. Aurora Cannabis (NYSE: ACB) is the laggard of the group, with shares 9% higher. Aphria chairman and CEO Irwin Simon called it a "significant step forward to build upon our existing foundation in cannabis." | Aurora Cannabis (NYSE: ACB) is the laggard of the group, with shares 9% higher. ACB 30-Day Average Daily Volume data by YCharts Investors should know, however, that popularity isn't what drives investment gains. What happened Stocks of Canadian cannabis growers are moving higher Thursday, after some positive news was released. | Aurora Cannabis (NYSE: ACB) is the laggard of the group, with shares 9% higher. ACB 30-Day Average Daily Volume data by YCharts Investors should know, however, that popularity isn't what drives investment gains. Separately, HEXO and beverage giant Molson Coors (NYSE: TAP) said the companies' joint venture, Truss CBD USA, is preparing to launch a new beverage. | Aurora Cannabis (NYSE: ACB) is the laggard of the group, with shares 9% higher. ACB 30-Day Average Daily Volume data by YCharts Investors should know, however, that popularity isn't what drives investment gains. What happened Stocks of Canadian cannabis growers are moving higher Thursday, after some positive news was released. |
36966.0 | 2021-01-14 00:00:00 UTC | CANADA STOCKS-TSX rises on materials boost, upbeat Aphria earnings | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-on-materials-boost-upbeat-aphria-earnings-2021-01-14 | nan | nan | Updates prices, adds sector details
Jan 14 (Reuters) - Canada's main stock index rose on Thursday, helped by materials stocks and upbeat earnings by Aphria Inc APHA.TO, with optimism about a large U.S. stimulus under incoming U.S. President Joe Biden further boosting sentiment.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.8%.
* The largest percentage gainers on the TSX were pot producers Aphria Inc APHA.TO, and Aurora Cannabis ACB.TO, which jumped 13.3% and 7.2%, respectively, after Aphria posted a quarterly adjusted profit compared to year-ago loss.
* The optimism in the Canadian market followed the upbeat mood in global equities after CNN reported Biden could spend a more-than-expected $2 trillion in stimulus.
* At 9:40 a.m. ET (14:40 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 44.65 points, or 0.25%, at 17,979.39.
* Adding to the upbeat mood, data showed Chinese exports grew more than expected in December, as coronavirus disruptions around the world fueled demand for Chinese goods.
* The energy sector .SPTTEN dropped 0.1% as U.S. crude CLc1 prices were down 0.6% a barrel, while Brent crude LCOc1 lost 1.0%. O/R
* On the TSX, 148 issues were higher, while 66 issues declined for a 2.24-to-1 ratio favouring gainers, with 17.70 million shares traded.
* The fuel-cell products developer Ballard Power Systems Inc fell 6.5%, the most on the TSX, after brokerage TD Securities downgraded the rating "hold" from "speculative buy" and the second biggest decliner was NFI Group Inc , down 2.6%.
* The most heavily traded shares by volume were Zenabis Global Inc , Alimentation Couche-Tard Inc ,and Aphria Inc .
* The TSX posted seven new 52-week highs and no new lows.
* Across all Canadian issues there were 59 new 52-week highs and six new lows, with total volume of 42.09 million shares.
(Reporting by Amal S in Bengaluru; Editing by Arun Koyyur)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The largest percentage gainers on the TSX were pot producers Aphria Inc APHA.TO, and Aurora Cannabis ACB.TO, which jumped 13.3% and 7.2%, respectively, after Aphria posted a quarterly adjusted profit compared to year-ago loss. Updates prices, adds sector details Jan 14 (Reuters) - Canada's main stock index rose on Thursday, helped by materials stocks and upbeat earnings by Aphria Inc APHA.TO, with optimism about a large U.S. stimulus under incoming U.S. President Joe Biden further boosting sentiment. * The optimism in the Canadian market followed the upbeat mood in global equities after CNN reported Biden could spend a more-than-expected $2 trillion in stimulus. | * The largest percentage gainers on the TSX were pot producers Aphria Inc APHA.TO, and Aurora Cannabis ACB.TO, which jumped 13.3% and 7.2%, respectively, after Aphria posted a quarterly adjusted profit compared to year-ago loss. * The optimism in the Canadian market followed the upbeat mood in global equities after CNN reported Biden could spend a more-than-expected $2 trillion in stimulus. O/R * On the TSX, 148 issues were higher, while 66 issues declined for a 2.24-to-1 ratio favouring gainers, with 17.70 million shares traded. | * The largest percentage gainers on the TSX were pot producers Aphria Inc APHA.TO, and Aurora Cannabis ACB.TO, which jumped 13.3% and 7.2%, respectively, after Aphria posted a quarterly adjusted profit compared to year-ago loss. Updates prices, adds sector details Jan 14 (Reuters) - Canada's main stock index rose on Thursday, helped by materials stocks and upbeat earnings by Aphria Inc APHA.TO, with optimism about a large U.S. stimulus under incoming U.S. President Joe Biden further boosting sentiment. O/R * On the TSX, 148 issues were higher, while 66 issues declined for a 2.24-to-1 ratio favouring gainers, with 17.70 million shares traded. | * The largest percentage gainers on the TSX were pot producers Aphria Inc APHA.TO, and Aurora Cannabis ACB.TO, which jumped 13.3% and 7.2%, respectively, after Aphria posted a quarterly adjusted profit compared to year-ago loss. Updates prices, adds sector details Jan 14 (Reuters) - Canada's main stock index rose on Thursday, helped by materials stocks and upbeat earnings by Aphria Inc APHA.TO, with optimism about a large U.S. stimulus under incoming U.S. President Joe Biden further boosting sentiment. * The TSX posted seven new 52-week highs and no new lows. |
36967.0 | 2021-01-13 00:00:00 UTC | CANADA STOCKS - TSX falls 0.23% to 17,945.15 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.23-to-17945.15-2021-01-13 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.23 percent to 17,945.15
* Leading the index were Bausch Health Companies Inc , up 9.6%, Cronos Group Inc CRON.TO, up 9%, and Lightspeed POS Inc LSPD.TO, higher by 7.9%.
* Lagging shares were Alimentation Couche-Tard Inc ATDb.TO, down 10.5%, Pan American Silver Corp PAAS.TO, down 5.6%, and Methanex Corp MX.TO, lower by 5.0%.
* On the TSX 74 issues rose and 146 fell as a 0.5-to-1 ratio favored decliners. There were 8 new highs and no new lows, with total volume of 189.6 million shares.
* The most heavily traded shares by volume were Alimentation Couche-tard Inc ATDb.TO, Aurora Cannabis Inc ACB.TO and Aphria Inc APHA.TO.
* The TSX's energy group .SPTTEN fell 1.23 points, or 1.2%, while the financials sector .SPTTFS slipped 0.52 points, or 0.2%.
* West Texas Intermediate crude futures CLc1 fell 0.62%, or $0.33, to $52.88 a barrel. Brent crude LCOc1 fell 0.97%, or $0.55, to $56.03 O/R
* The TSX is up 2.9% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Alimentation Couche-tard Inc ATDb.TO, Aurora Cannabis Inc ACB.TO and Aphria Inc APHA.TO. * The Toronto Stock Exchange's TSX falls 0.23 percent to 17,945.15 * Leading the index were Bausch Health Companies Inc , up 9.6%, Cronos Group Inc CRON.TO, up 9%, and Lightspeed POS Inc LSPD.TO, higher by 7.9%. * On the TSX 74 issues rose and 146 fell as a 0.5-to-1 ratio favored decliners. | * The most heavily traded shares by volume were Alimentation Couche-tard Inc ATDb.TO, Aurora Cannabis Inc ACB.TO and Aphria Inc APHA.TO. * Lagging shares were Alimentation Couche-Tard Inc ATDb.TO, down 10.5%, Pan American Silver Corp PAAS.TO, down 5.6%, and Methanex Corp MX.TO, lower by 5.0%. * The TSX's energy group .SPTTEN fell 1.23 points, or 1.2%, while the financials sector .SPTTFS slipped 0.52 points, or 0.2%. | * The most heavily traded shares by volume were Alimentation Couche-tard Inc ATDb.TO, Aurora Cannabis Inc ACB.TO and Aphria Inc APHA.TO. * Lagging shares were Alimentation Couche-Tard Inc ATDb.TO, down 10.5%, Pan American Silver Corp PAAS.TO, down 5.6%, and Methanex Corp MX.TO, lower by 5.0%. * The TSX's energy group .SPTTEN fell 1.23 points, or 1.2%, while the financials sector .SPTTFS slipped 0.52 points, or 0.2%. | * The most heavily traded shares by volume were Alimentation Couche-tard Inc ATDb.TO, Aurora Cannabis Inc ACB.TO and Aphria Inc APHA.TO. * The Toronto Stock Exchange's TSX falls 0.23 percent to 17,945.15 * Leading the index were Bausch Health Companies Inc , up 9.6%, Cronos Group Inc CRON.TO, up 9%, and Lightspeed POS Inc LSPD.TO, higher by 7.9%. * On the TSX 74 issues rose and 146 fell as a 0.5-to-1 ratio favored decliners. |
36968.0 | 2021-01-13 00:00:00 UTC | Why Marijuana Stocks Jumped Today | ACB | https://www.nasdaq.com/articles/why-marijuana-stocks-jumped-today-2021-01-13 | nan | nan | What happened
Marijuana stocks bounced higher on big news out of Mexico Wednesday.
News that the country has finished drafting rules to permit medical marijuana sent shares of cannabis industry giant Canopy Growth (NASDAQ: CGC) up 5.4% by 1:05 p.m. EST on Wednesday. Doing even better today were smaller marijuana companies Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and especially Tilray (NASDAQ: TLRY), which were up 6.2%, 7%, and 14.6%, respectively.
Image source: Getty Images.
So what
As NBC News reports today, the Mexican Health Ministry has published, and Mexican President Andres Manuel Lopez Obrador has signed, new regulations permitting pharmaceutical companies to research medicinal marijuana. Companies that wish to perform such research must first obtain permission from the Mexican health regulator.
The new rules also permit companies to grow and harvest cannabis for medical purposes in Mexico -- and to import it from abroad. Marijuana companies from Canada and the United States have been looking at Mexico with interest, NBC News says, but many had delayed investment decisions while waiting for the final regulation to be published. And that probably explains the immediate and dramatic reaction among marijuana stocks to the news today.
Now what
And this is only the beginning. As reported last year, Mexico's Congress is also in the process of legalizing marijuana for recreational use. This latter package of legislation has already passed the Mexican Senate and is working its way through the lower house of Congress. It could be approved as early as this month.
If and when that happens, says The Wall Street Journal, Mexico will in an instant become the world's largest legal cannabis market. And even that may not be the end of this trend.
Once the United States is bracketed by two large nations, both of which permit recreational use of marijuana, the pressure for federal legalization in the U.S. will naturally increase.
Nationwide legalization of marijuana: It looks like it's coming to America, folks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Doing even better today were smaller marijuana companies Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and especially Tilray (NASDAQ: TLRY), which were up 6.2%, 7%, and 14.6%, respectively. News that the country has finished drafting rules to permit medical marijuana sent shares of cannabis industry giant Canopy Growth (NASDAQ: CGC) up 5.4% by 1:05 p.m. EST on Wednesday. Marijuana companies from Canada and the United States have been looking at Mexico with interest, NBC News says, but many had delayed investment decisions while waiting for the final regulation to be published. | Doing even better today were smaller marijuana companies Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and especially Tilray (NASDAQ: TLRY), which were up 6.2%, 7%, and 14.6%, respectively. News that the country has finished drafting rules to permit medical marijuana sent shares of cannabis industry giant Canopy Growth (NASDAQ: CGC) up 5.4% by 1:05 p.m. EST on Wednesday. So what As NBC News reports today, the Mexican Health Ministry has published, and Mexican President Andres Manuel Lopez Obrador has signed, new regulations permitting pharmaceutical companies to research medicinal marijuana. | Doing even better today were smaller marijuana companies Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and especially Tilray (NASDAQ: TLRY), which were up 6.2%, 7%, and 14.6%, respectively. News that the country has finished drafting rules to permit medical marijuana sent shares of cannabis industry giant Canopy Growth (NASDAQ: CGC) up 5.4% by 1:05 p.m. EST on Wednesday. So what As NBC News reports today, the Mexican Health Ministry has published, and Mexican President Andres Manuel Lopez Obrador has signed, new regulations permitting pharmaceutical companies to research medicinal marijuana. | Doing even better today were smaller marijuana companies Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and especially Tilray (NASDAQ: TLRY), which were up 6.2%, 7%, and 14.6%, respectively. News that the country has finished drafting rules to permit medical marijuana sent shares of cannabis industry giant Canopy Growth (NASDAQ: CGC) up 5.4% by 1:05 p.m. EST on Wednesday. As reported last year, Mexico's Congress is also in the process of legalizing marijuana for recreational use. |
36969.0 | 2021-01-12 00:00:00 UTC | Is Canopy Growth Stock a Buy? | ACB | https://www.nasdaq.com/articles/is-canopy-growth-stock-a-buy-2021-01-12 | nan | nan | Canopy Growth (NASDAQ: CGC) is one of the top pot companies in Canada, and its stock has been soaring of late, currently trading around its 52-week high. It's historically been one of the safer and better-performing cannabis investments, and in the past year, its 45% returns have dwarfed the Horizons Marijuana Life Sciences ETF and its 21% gains.
But it hasn't been a smooth ride for the company. It is in the midst of a transition year and is cutting costs to improve its financials, as investors have been wary of investing in a business that continues to report loss after loss amid minimal sales growth. Is Canopy Growth worth taking a chance on given the recent bullishness in the sector and the changes it's been making of late, or is its valuation simply too rich? Let's take a closer look and find out.
Image source: Getty Images.
The company is coming off a record quarter -- but will that trend continue?
On Nov. 9, Canopy Growth released its second-quarter results for the period ending Sept. 30, in which it reported revenue of 135.3 million Canadian dollars -- a new all-time high. It was a 77% improvement from the CA$76.6 million in net sales the company posted in the same period last year. The only segment that didn't generate year-over-year growth was international medicine, where sales of CA$17.5 million were down by 3%.
The problem is that those results may be a little misleading -- the comparisons looked extra favorable thanks to fewer revenue adjustments. In Q2, Canopy incurred adjustments (which include returns and changes to price) of just CA$3.8 million, compared with CA$32.7 million in the prior-year period. And the top line hasn't been rising consistently, either. In the first quarter, sales of CA$110.4 million were only up 2.3% from the previous quarter's CA$107.9 million. And Q4's numbers were down 12.8% from the CA$123.8 million in the quarter before that.
It may be tempting for investors to get caught up in and excited about the company's most recent numbers, but it's important to remember that this hasn't been the norm for Canopy Growth. And that's without even mentioning the problem on the bottom line -- its operating loss of CA$284.3 million in Q2 was higher than the CA$270.8 million loss it incurred in the prior-year period.
The good news is that the company is targeting up to CA$200 million in cost savings, which should get it closer to breakeven. Last month, management announced a halt to operations at some Canadian facilities as part of its restructuring, which affected 220 employees. And while the operational changes will lead to cost savings later on, in the third and fourth quarters, Canopy Growth is expecting pre-tax charges of up to CA$400 million.
For investors, that means that there's still some near-term pain ahead before things potentially get better. And that doesn't solve the company's sales problems, either. There's a lot of uncertainty surrounding Canopy Growth's business right now, and that makes its high valuation a possible obstacle for investors.
Is Canopy Growth stock too expensive?
Since Canopy Growth remains unprofitable, using the price-to-sales (P/S) ratio can be an effective way to compare its valuation against its peers. And based on sales, the stock is in a league of its own when compared against rivals Aphria, Tilray, Aurora Cannabis, and HEXO:
CGC PS Ratio data by YCharts
While there's hope that its P/S multiple will come down as Canopy Growth's business grows, thanks to beverage sales and possible U.S. expansion (once the market is legal federally), that's far from a guarantee. In Q2, the company's cannabis 2.0 products (which include beverages, vape products, and chocolates) totaled just CA$8.7 million -- or 6.4% of net revenue.
The segment isn't a big part of the company's business, and that may be true for awhile. And even if nationwide legalization takes place in the U.S., investors shouldn't assume that Canopy Growth will dominate. While its partnership with Constellation Brands does give it advantages including the potential to expand at a quick pace, it also will have to compete against established multistate operators including Trulieve Cannabis, Curaleaf, and Green Thumb Industries. Either way you look at it, Canopy Growth is going to have a tough road ahead, and that makes it tough to justify buying the stock at its current valuation.
No, Canopy Growth isn't a buy
It's possible that Canopy Growth would become a good buy in a market crash if its stock falls below $20 a share, but today, there's just too much of a disconnect between its sales numbers and its market cap to make it worth investing in. With better-valued stocks out there (like the ones listed earlier), investors shouldn't bother with Canopy Growth. While it used to sit atop the industry as clearly the best cannabis company to invest in, those days are long gone.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Canopy Growth (NASDAQ: CGC) is one of the top pot companies in Canada, and its stock has been soaring of late, currently trading around its 52-week high. It's historically been one of the safer and better-performing cannabis investments, and in the past year, its 45% returns have dwarfed the Horizons Marijuana Life Sciences ETF and its 21% gains. On Nov. 9, Canopy Growth released its second-quarter results for the period ending Sept. 30, in which it reported revenue of 135.3 million Canadian dollars -- a new all-time high. | In Q2, Canopy incurred adjustments (which include returns and changes to price) of just CA$3.8 million, compared with CA$32.7 million in the prior-year period. No, Canopy Growth isn't a buy It's possible that Canopy Growth would become a good buy in a market crash if its stock falls below $20 a share, but today, there's just too much of a disconnect between its sales numbers and its market cap to make it worth investing in. The Motley Fool owns shares of and recommends Constellation Brands and Green Thumb Industries. | In Q2, Canopy incurred adjustments (which include returns and changes to price) of just CA$3.8 million, compared with CA$32.7 million in the prior-year period. And based on sales, the stock is in a league of its own when compared against rivals Aphria, Tilray, Aurora Cannabis, and HEXO: CGC PS Ratio data by YCharts While there's hope that its P/S multiple will come down as Canopy Growth's business grows, thanks to beverage sales and possible U.S. expansion (once the market is legal federally), that's far from a guarantee. No, Canopy Growth isn't a buy It's possible that Canopy Growth would become a good buy in a market crash if its stock falls below $20 a share, but today, there's just too much of a disconnect between its sales numbers and its market cap to make it worth investing in. | It was a 77% improvement from the CA$76.6 million in net sales the company posted in the same period last year. And that's without even mentioning the problem on the bottom line -- its operating loss of CA$284.3 million in Q2 was higher than the CA$270.8 million loss it incurred in the prior-year period. No, Canopy Growth isn't a buy It's possible that Canopy Growth would become a good buy in a market crash if its stock falls below $20 a share, but today, there's just too much of a disconnect between its sales numbers and its market cap to make it worth investing in. |
36970.0 | 2021-01-11 00:00:00 UTC | Why Marijuana Stocks Popped Monday | ACB | https://www.nasdaq.com/articles/why-marijuana-stocks-popped-monday-2021-01-11 | nan | nan | What happened
Marijuana stocks HEXO (NYSE: HEXO), Aurora Cannabis (NYSE: ACB), and Aphria (NASDAQ: APHA) are up 3.3%, 3.9%, and 4.1%, respectively, as of Monday at 11:20 a.m. EST. Leading the pack even higher is cannabis kingpin Canopy Growth (NASDAQ: CGC) with a 5.1% gain.
Unsurprisingly, I think Canopy Growth is the reason why all marijuana stocks are rising today.
Image source: Getty Images.
So what
Oh, there's other news to report. For example, the AP reported over the weekend that Virginia Governor Ralph Northam is pushing to legalize marijuana for recreational use in the commonwealth -- which would make it the first southern state to do so. But the bigger news is that, in an interview published Friday by Bloomberg, Canopy Growth CEO David Klein predicted that Canopy will be selling marijuana in the U.S. within a year.
"What we really need is some combination of SAFE Banking ... and a reclassification by the executive branch, all of which ... probably happens in the next six-to-eight months," Klein said. "We're pretty confident we'll be operating in the U.S. a year from now."
Now what
He could be right about that, too. Already, 15 states have already or are in the process of drafting legislation to officially implement legal recreational pot use in the U.S., and 36 more have legalized medical marijuana -- so clearly the movement has broad support among voters.
In Washington, D.C., the House and Senate will both be controlled by the Democratic Party this year, as will the White House -- and the Biden administration has explicitly promised to "decriminalize marijuana, and ... expunge the records of those who have been convicted of marijuana." Indeed, it was Vice President-elect Kamala Harris, who would cast any tiebreaking votes in the Senate, who made that promise.
As Bloomberg noted, legalization at the federal level "would open the door for Canadian companies like Canopy Growth, Aphria Inc. and Aurora Cannabis Inc. to enter the U.S. market." Investors today are betting that 2021 will be the year that this happens.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Marijuana stocks HEXO (NYSE: HEXO), Aurora Cannabis (NYSE: ACB), and Aphria (NASDAQ: APHA) are up 3.3%, 3.9%, and 4.1%, respectively, as of Monday at 11:20 a.m. EST. Leading the pack even higher is cannabis kingpin Canopy Growth (NASDAQ: CGC) with a 5.1% gain. For example, the AP reported over the weekend that Virginia Governor Ralph Northam is pushing to legalize marijuana for recreational use in the commonwealth -- which would make it the first southern state to do so. | What happened Marijuana stocks HEXO (NYSE: HEXO), Aurora Cannabis (NYSE: ACB), and Aphria (NASDAQ: APHA) are up 3.3%, 3.9%, and 4.1%, respectively, as of Monday at 11:20 a.m. EST. But the bigger news is that, in an interview published Friday by Bloomberg, Canopy Growth CEO David Klein predicted that Canopy will be selling marijuana in the U.S. within a year. As Bloomberg noted, legalization at the federal level "would open the door for Canadian companies like Canopy Growth, Aphria Inc. and Aurora Cannabis Inc. to enter the U.S. | What happened Marijuana stocks HEXO (NYSE: HEXO), Aurora Cannabis (NYSE: ACB), and Aphria (NASDAQ: APHA) are up 3.3%, 3.9%, and 4.1%, respectively, as of Monday at 11:20 a.m. EST. But the bigger news is that, in an interview published Friday by Bloomberg, Canopy Growth CEO David Klein predicted that Canopy will be selling marijuana in the U.S. within a year. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Rich Smith has no position in any of the stocks mentioned. | What happened Marijuana stocks HEXO (NYSE: HEXO), Aurora Cannabis (NYSE: ACB), and Aphria (NASDAQ: APHA) are up 3.3%, 3.9%, and 4.1%, respectively, as of Monday at 11:20 a.m. EST. 10 stocks we like better than Canopy Growth Corp. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. |
36971.0 | 2021-01-11 00:00:00 UTC | CANADA STOCKS-TSX falls as energy stocks, virus concerns weigh | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-as-energy-stocks-virus-concerns-weigh-2021-01-11 | nan | nan | Adds details; updates prices
Jan 11 (Reuters) - Canada's main stock index fell on Monday, dragged down by weakness in energy stocks, while a surge in coronavirus cases in China and rising restrictions across the globe triggered concerns around an economic recovery.
* The energy sector .SPTTEN dropped 1.4% as U.S. crude CLc1 prices were down 1.2% a barrel, while Brent crude LCOc1 lost 1.6%. O/R
* Germany reported an increase in coronavirus cases even as most of Europe was under the strictest restrictions, while China saw its biggest daily increase in infections in more than five months.
* At 9:39 a.m. ET (14:39 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 63.94 points, or 0.35%, at 17,978.13.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, also lost 0.8%. GOL/MET/L
* The sector was weighed by mining firms First Quantum Minerals Ltd FM.TO, which fell 4.2%, the most on the TSX, and the second biggest decliner Ero Copper Corp ERO.TO, down 4.6%.
* On the TSX, 55 issues were higher, while 153 issues declined for a 2.78-to-1 ratio to the downside, with 15.73 million shares traded.
* The financials sector .SPTTFS slipped 0.1%. The industrials sector .GSPTTIN fell 0.1%.
* The largest percentage gainers on the TSX were NFI Group Inc , which jumped 6.6% after bus and motor coach manufacturer forecast full-year 2021 revenue above analysts' expectations, and pot producer Aurora Cannabis Inc , which rose 3.4%.
* The most-heavily traded shares by volume were Nevada Copper , down 7.1%; Hut 8 Mining Crp , down 37.4% and Zenabis Glbl Inc , down 7.1%.
* The TSX posted four new 52-week highs and no new lows.
* Across all Canadian issues, there were 51 new 52-week highs and no new lows, with total volume of 44.95 million shares.
(Reporting by Amal S in Bengaluru; Editing by Krishna Chandra Eluri)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | GOL/MET/L * The sector was weighed by mining firms First Quantum Minerals Ltd FM.TO, which fell 4.2%, the most on the TSX, and the second biggest decliner Ero Copper Corp ERO.TO, down 4.6%. * The largest percentage gainers on the TSX were NFI Group Inc , which jumped 6.6% after bus and motor coach manufacturer forecast full-year 2021 revenue above analysts' expectations, and pot producer Aurora Cannabis Inc , which rose 3.4%. * The most-heavily traded shares by volume were Nevada Copper , down 7.1%; Hut 8 Mining Crp , down 37.4% and Zenabis Glbl Inc , down 7.1%. | Adds details; updates prices Jan 11 (Reuters) - Canada's main stock index fell on Monday, dragged down by weakness in energy stocks, while a surge in coronavirus cases in China and rising restrictions across the globe triggered concerns around an economic recovery. * The energy sector .SPTTEN dropped 1.4% as U.S. crude CLc1 prices were down 1.2% a barrel, while Brent crude LCOc1 lost 1.6%. * On the TSX, 55 issues were higher, while 153 issues declined for a 2.78-to-1 ratio to the downside, with 15.73 million shares traded. | Adds details; updates prices Jan 11 (Reuters) - Canada's main stock index fell on Monday, dragged down by weakness in energy stocks, while a surge in coronavirus cases in China and rising restrictions across the globe triggered concerns around an economic recovery. GOL/MET/L * The sector was weighed by mining firms First Quantum Minerals Ltd FM.TO, which fell 4.2%, the most on the TSX, and the second biggest decliner Ero Copper Corp ERO.TO, down 4.6%. * On the TSX, 55 issues were higher, while 153 issues declined for a 2.78-to-1 ratio to the downside, with 15.73 million shares traded. | Adds details; updates prices Jan 11 (Reuters) - Canada's main stock index fell on Monday, dragged down by weakness in energy stocks, while a surge in coronavirus cases in China and rising restrictions across the globe triggered concerns around an economic recovery. GOL/MET/L * The sector was weighed by mining firms First Quantum Minerals Ltd FM.TO, which fell 4.2%, the most on the TSX, and the second biggest decliner Ero Copper Corp ERO.TO, down 4.6%. * Across all Canadian issues, there were 51 new 52-week highs and no new lows, with total volume of 44.95 million shares. |
36972.0 | 2021-01-11 00:00:00 UTC | CANADA STOCKS - TSX falls 0.55% to 17,942.95 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.55-to-17942.95-2021-01-11 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.55 percent to 17,942.95
* Leading the index were NFI Group Inc , up 15.4%, Cronos Group Inc CRON.TO, up 8.7%, and Aphria Inc APHA.TO, higher by 6%.
* Lagging shares were Trillium Therapeutics Inc TRIL.TO, down 6.7%, First Quantum Minerals Ltd FM.TO, down 6.4%, and Methanex Corp MX.TO, lower by 5.4%.
* On the TSX 64 issues rose and 154 fell as a 0.4-to-1 ratio favored decliners. There were 10 new highs and no new lows, with total volume of 148.9 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Cenovus Energy Inc CVE.TO.
* The TSX's energy group .SPTTEN fell 0.67 points, or 0.7%, while the financials sector .SPTTFS slipped 0.39 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 fell 0.29%, or $0.15, to $52.09 a barrel. Brent crude LCOc1 fell 0.89%, or $0.5, to $55.49 O/R
* The TSX is up 2.9% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Cenovus Energy Inc CVE.TO. * Lagging shares were Trillium Therapeutics Inc TRIL.TO, down 6.7%, First Quantum Minerals Ltd FM.TO, down 6.4%, and Methanex Corp MX.TO, lower by 5.4%. * On the TSX 64 issues rose and 154 fell as a 0.4-to-1 ratio favored decliners. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Cenovus Energy Inc CVE.TO. * The TSX's energy group .SPTTEN fell 0.67 points, or 0.7%, while the financials sector .SPTTFS slipped 0.39 points, or 0.1%. Brent crude LCOc1 fell 0.89%, or $0.5, to $55.49 O/R * The TSX is up 2.9% for the year. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX falls 0.55 percent to 17,942.95 * Leading the index were NFI Group Inc , up 15.4%, Cronos Group Inc CRON.TO, up 8.7%, and Aphria Inc APHA.TO, higher by 6%. * The TSX's energy group .SPTTEN fell 0.67 points, or 0.7%, while the financials sector .SPTTFS slipped 0.39 points, or 0.1%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX falls 0.55 percent to 17,942.95 * Leading the index were NFI Group Inc , up 15.4%, Cronos Group Inc CRON.TO, up 8.7%, and Aphria Inc APHA.TO, higher by 6%. * Lagging shares were Trillium Therapeutics Inc TRIL.TO, down 6.7%, First Quantum Minerals Ltd FM.TO, down 6.4%, and Methanex Corp MX.TO, lower by 5.4%. |
36973.0 | 2021-01-08 00:00:00 UTC | CANADA STOCKS - TSX falls 0.01% to 18,025.20 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.01-to-18025.20-2021-01-08 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.01 percent to 18,025.20
* Leading the index were BlackBerry Ltd , up 6.7%, Boralex Inc BLX.TO, up 5.8%, and Northland Power Inc NPI.TO, higher by 5.4%.
* Lagging shares were Lundin Gold Inc LUG.TO, down 8.5%, Torex Gold Resources Inc TXG.TO, down 8.0%, and Silvercorp Metals Inc SVM.TO, lower by 7.7%.
* On the TSX 118 issues rose and 99 fell as a 1.2-to-1 ratio favored advancers. There were 18 new highs and no new lows, with total volume of 191.4 million shares.
* The most heavily traded shares by volume were Yamana Gold Inc YRI.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO.
* The TSX's energy group .SPTTEN fell 1.24 points, or 1.2%, while the financials sector .SPTTFS slipped 0.04 points, or 0.0%.
* West Texas Intermediate crude futures CLc1 rose 3.36%, or $1.71, to $52.54 a barrel. Brent crude LCOc1 rose 3.22%, or $1.75, to $56.13 O/R
* The TSX is up 3.4% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Yamana Gold Inc YRI.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO. * The Toronto Stock Exchange's TSX falls 0.01 percent to 18,025.20 * Leading the index were BlackBerry Ltd , up 6.7%, Boralex Inc BLX.TO, up 5.8%, and Northland Power Inc NPI.TO, higher by 5.4%. * On the TSX 118 issues rose and 99 fell as a 1.2-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Yamana Gold Inc YRI.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO. * On the TSX 118 issues rose and 99 fell as a 1.2-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN fell 1.24 points, or 1.2%, while the financials sector .SPTTFS slipped 0.04 points, or 0.0%. | * The most heavily traded shares by volume were Yamana Gold Inc YRI.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO. * Lagging shares were Lundin Gold Inc LUG.TO, down 8.5%, Torex Gold Resources Inc TXG.TO, down 8.0%, and Silvercorp Metals Inc SVM.TO, lower by 7.7%. * The TSX's energy group .SPTTEN fell 1.24 points, or 1.2%, while the financials sector .SPTTFS slipped 0.04 points, or 0.0%. | * The most heavily traded shares by volume were Yamana Gold Inc YRI.TO, Aurora Cannabis Inc ACB.TO and Cenovus Energy Inc CVE.TO. * On the TSX 118 issues rose and 99 fell as a 1.2-to-1 ratio favored advancers. Brent crude LCOc1 rose 3.22%, or $1.75, to $56.13 O/R * The TSX is up 3.4% for the year. |
36974.0 | 2021-01-08 00:00:00 UTC | Pre-Market Most Active for Jan 8, 2021 : NIO, IPOE, TSLA, FCEL, AAPL, XNET, SQQQ, SRPT, SOS, IPOF, ACB, AMC | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-jan-8-2021-%3A-nio-ipoe-tsla-fcel-aapl-xnet-sqqq-srpt-sos-ipof | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 82.41 to 13,021.98. The total Pre-Market volume is currently 25,969,957 shares traded.
The following are the most active stocks for the pre-market session:
NIO Inc. (NIO) is +3.01 at $57.29, with 3,012,442 shares traded. NIO's current last sale is 173.61% of the target price of $33.
Social Capital Hedosophia Holdings Corp. V (IPOE) is +2.15 at $21.29, with 2,736,995 shares traded., following a 52-week high recorded in prior regular session.
Tesla, Inc. (TSLA) is +39.46 at $855.50, with 1,858,201 shares traded., following a 52-week high recorded in prior regular session.
FuelCell Energy, Inc. (FCEL) is +1.43 at $16.42, with 1,773,512 shares traded., following a 52-week high recorded in prior regular session.
Apple Inc. (AAPL) is +1.48 at $132.40, with 1,345,221 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Xunlei Limited (XNET) is +0.81 at $5.80, with 1,136,582 shares traded.
ProShares UltraPro Short QQQ (SQQQ) is -0.22 at $14.67, with 1,049,187 shares traded., following a 52-week high recorded in prior regular session.
Sarepta Therapeutics, Inc. (SRPT) is -84.95 at $84.00, with 915,811 shares traded. As reported in the last short interest update the days to cover for SRPT is 9.792926; this calculation is based on the average trading volume of the stock.
SOS Limited (SOS) is -0.18 at $2.89, with 911,996 shares traded.
Social Capital Hedosophia Holdings Corp. VI (IPOF) is +1.06 at $14.13, with 655,687 shares traded.
Aurora Cannabis Inc. (ACB) is -0.1198 at $10.07, with 633,872 shares traded. ACB's current last sale is 109.58% of the target price of $9.19.
AMC Entertainment Holdings, Inc. (AMC) is +0.05 at $2.10, with 587,580 shares traded. AMC's current last sale is 60% of the target price of $3.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is -0.1198 at $10.07, with 633,872 shares traded. ACB's current last sale is 109.58% of the target price of $9.19. Social Capital Hedosophia Holdings Corp. V (IPOE) is +2.15 at $21.29, with 2,736,995 shares traded., following a 52-week high recorded in prior regular session. | Aurora Cannabis Inc. (ACB) is -0.1198 at $10.07, with 633,872 shares traded. ACB's current last sale is 109.58% of the target price of $9.19. The total Pre-Market volume is currently 25,969,957 shares traded. | Aurora Cannabis Inc. (ACB) is -0.1198 at $10.07, with 633,872 shares traded. ACB's current last sale is 109.58% of the target price of $9.19. NIO Inc. (NIO) is +3.01 at $57.29, with 3,012,442 shares traded. | Aurora Cannabis Inc. (ACB) is -0.1198 at $10.07, with 633,872 shares traded. ACB's current last sale is 109.58% of the target price of $9.19. The NASDAQ 100 Pre-Market Indicator is up 82.41 to 13,021.98. |
36975.0 | 2021-01-08 00:00:00 UTC | Is 2021 the Year to Buy Into the Cannabis Stock Hype? | ACB | https://www.nasdaq.com/articles/is-2021-the-year-to-buy-into-the-cannabis-stock-hype-2021-01-08 | nan | nan | Hotshot cannabis stocks captured the imagination of Robinhood traders and veteran investors alike during the market chaos of 2020. It's easy to see why: Even beaten-down stocks like Aurora Cannabis (NYSE: ACB) doubled in the last three months alone.
Cautious investors are right to be skeptical about the marijuana hype. The industry is far from mature, and there aren't too many examples of success. At the same time, some cannabis stocks performed very well last year, and in the U.S., the entire group just saw yet another catalyst for growth.
Image source: Getty Images.
Why you should buy cannabis stocks this year
Marijuana legalization in the U.S. took a few big steps forward in the 2020 elections. Arizona, Montana, New Jersey, and South Dakota all voted to legalize medicinal and/or recreational cannabis use. This means that marijuana in some form is now legal in 47 states, paving the way for consumer demand to blossom.
According to a report by New Frontier Data, the market for legal cannabis in the U.S. will grow to $29.7 billion by 2025. That's a massive increase from its estimated size of $17 billion in 2020 -- and the expansion could be even greater. As cannabis distributors become more common and more efficient, they'll be able to drive down their costs while increasing their convenience for consumers. This will aid the legal cannabis sector in stealing even more market share from the illicit market, which in the U.S. was worth an estimated $64.3 billion in 2018.
Many publicly traded cannabis companies, including Cresco Labs (OTC: CRLBF) and Curaleaf (OTC: CURLF), increased their year-over-year quarterly revenue by triple digits in 2020, and the momentum is not slowing. This year, their stock value is surging already. Likewise, the industry is starting to consolidate, with Aphria (NASDAQ: APHA) and Tilray (NASDAQ: TLRY) moving to merge, a plan that will soon create what could be the largest public marijuana company in the U.S. And, while a majority of the industry's smaller entities are still unprofitable, some are starting to report consistent earnings, suggesting that their financial health is improving.
Why it might be better to wait for a while longer
Many companies haven't made much progress toward profitability despite a few years of effort and ambitious business transformation plans. As such, a few stocks have been particularly bad for investors, including popular ones like Aurora Cannabis, which lost more than half its value last year.
Others, like Hexo (NYSE: HEXO), have struggled to meet their stock exchange's listing requirements. Amid an expanding market, shrinking revenue has plagued Sundial Growers (NASDAQ: SNDL). And even the stronger performers like Cresco Labs have seen their balance sheets swell with debt due in the near term.
Waiting for another year would give these companies more time to demonstrate their long-term viability. This could give investors more confidence that their stock choices are sound. But it'd also ensure that they miss what might be an exciting year for cannabis stocks.
^SPX data by YCharts
What's the right move?
If you didn't invest in cannabis stocks last year, this is the right year to do it. Over the course of 2021, we should see a handful of the companies that I've mentioned today outperform the market as their earnings reports solidify the idea that they are both profitable and growing rapidly. At the same time, the weaker contenders will look worse and worse in comparison, reducing the chance that you might make a mistake.
When you do invest, be sure you choose a stock that spent 2020 on a steep upward trajectory in terms of its revenue growth, earnings growth, and profit margin. At the moment, marijuana stocks are still quite risky, so you owe it to yourself to invest in the hardiest of the crop rather than the turnaround plays.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It's easy to see why: Even beaten-down stocks like Aurora Cannabis (NYSE: ACB) doubled in the last three months alone. Likewise, the industry is starting to consolidate, with Aphria (NASDAQ: APHA) and Tilray (NASDAQ: TLRY) moving to merge, a plan that will soon create what could be the largest public marijuana company in the U.S. And, while a majority of the industry's smaller entities are still unprofitable, some are starting to report consistent earnings, suggesting that their financial health is improving. Why it might be better to wait for a while longer Many companies haven't made much progress toward profitability despite a few years of effort and ambitious business transformation plans. | It's easy to see why: Even beaten-down stocks like Aurora Cannabis (NYSE: ACB) doubled in the last three months alone. Why you should buy cannabis stocks this year Marijuana legalization in the U.S. took a few big steps forward in the 2020 elections. Many publicly traded cannabis companies, including Cresco Labs (OTC: CRLBF) and Curaleaf (OTC: CURLF), increased their year-over-year quarterly revenue by triple digits in 2020, and the momentum is not slowing. | It's easy to see why: Even beaten-down stocks like Aurora Cannabis (NYSE: ACB) doubled in the last three months alone. Why you should buy cannabis stocks this year Marijuana legalization in the U.S. took a few big steps forward in the 2020 elections. If you didn't invest in cannabis stocks last year, this is the right year to do it. | It's easy to see why: Even beaten-down stocks like Aurora Cannabis (NYSE: ACB) doubled in the last three months alone. According to a report by New Frontier Data, the market for legal cannabis in the U.S. will grow to $29.7 billion by 2025. If you didn't invest in cannabis stocks last year, this is the right year to do it. |
36976.0 | 2021-01-08 00:00:00 UTC | 4 Ultra-Popular Robinhood Stocks to Avoid Like the Plague in 2021 | ACB | https://www.nasdaq.com/articles/4-ultra-popular-robinhood-stocks-to-avoid-like-the-plague-in-2021-2021-01-08 | nan | nan | Last year was exceptionally volatile for the stock market -- but that didn't seem to bother young investors who craved these wild vacillations.
Online investing app Robinhood, which has an average user age of only 31, gained approximately 3 million new users in 2020. While it's fantastic to see young people putting their money to work in the greatest wealth creator on the planet (the stock market), it's also unnerving that they aren't being given the proper education and tools to succeed. As a result, some of the most-held stocks on Robinhood's platform look like absolute dumpster fires.
As we enter a new year, four ultra-popular Robinhood stocks have the look of companies that should be avoided like the plague.
Image source: Getty Images.
NIO
Following a better-than-1,100% gain in 2020, electric-vehicle (EV) manufacturer NIO (NYSE: NIO) has worked its way up to the ninth-most-held stock on Robinhood's platform.
In some respects, optimism is warranted. NIO is based in China, which'll be the largest market for EVs in the world. By 2035, roughly half of all new-vehicle sales should be EVs or, to a far lesser extent, hybrids. NIO's deliveries have catapulted higher in 2020, while the company's resolved all of its immediate cash concerns by selling stock. It also introduced a brand-new crossover (EC6) that's quickly become its top-selling vehicle.
However, even with NIO lifting its gross vehicle margin into positive double digits in Q3 2020 from a negative single-digit number in the prior-year period, an $83 billion market cap is a bit much. With NIO's deliveries rocketing to just over 7,000 in December, the company has an annual run rate of only 84,000 EVs. Even if the company's output and sales were to double in 2021, it would still be valued at more than 16 times sales in an industry known for its menial margins.
Furthermore, NIO isn't going to be the only EV manufacturer focused on China. Detroit's big three are investing billions each year into EVs and autonomous vehicles, with a number of other brand-name and established automakers doing the same. Without its own infrastructure to really ramp up production, an $83 billion valuation looks like a serious stretch.
Image source: Getty Images.
Aurora Cannabis
The North American marijuana industry looks set to (pardon the obvious pun) grow like a weed this decade. But not all pot stocks will be winners. Previously the most-held stock on Robinhood and now currently 15th, Canadian licensed-producer Aurora Cannabis (NYSE: ACB) should be avoided like the plague.
At one time, Aurora offered a lot of promise. It had 15 production facilities capable of more than 650,000 kilos of annual cannabis output, if fully operational. The company also had access to two dozen markets outside of Canada. It seemed like a logical winner in a crowded field of pot stocks -- but this wasn't the case.
The biggest issues for Aurora Cannabis were overestimating consumer demand and underestimating regulatory snafus. As a result, it buried its balance sheet in goodwill and intangible assets by grossly overpaying for more than a dozen companies, and had to write off a considerable amount of its inventory.
Aurora Cannabis is facing cash concerns, too. This is a company whose board approved and completed a $400 million and $250 million at-the-market (ATM) offering, and recently OK'd another $500 million ATM offering. Having financed its day-to-day operations and buyouts with its stock, Aurora's share count has ballooned by 11,800% in just over six years. That's a shareholder value-crushing number that makes Aurora worth avoiding.
Image source: American Airlines.
American Airlines Group
One of life's greatest mysteries is why millennial Robinhood investors are infatuated with airlines stocks. Six of the top 32 Robinhood holdings are airlines, with American Airlines Group (NASDAQ: AAL) taking the highest spot as the platform's No. 5 stock. The problem is, it's probably the worst company within the airline industry.
My best guess as to why American Airlines is flying so high in the minds of young investors is due to its brand-name appeal and beaten-up share price. Presumably, if enough Americans choose to receive a coronavirus vaccine, the country can return to normal and people will again take to the skies. Unfortunately, this thesis has two flaws.
First, we don't have a clue when things will get back to normal, or what normal will even look like. For instance, even with two vaccines being granted emergency-use authorization, the actual vaccination campaign in the U.S. has been slow. Less than 2% of the population (5 million people) have been inoculated, which fell well short of the 20 million people who were targeted for the vaccine in December.
Secondly, American Airlines is going to be strangled by its $41.2 billion in debt for years to come, assuming it avoids bankruptcy. As my colleague Adam Levine-Weinberg pointed out in 2018, American Airlines made the unwise decision to retire commercial planes that had plenty of life left to modernize its fleet. This poor decision coupled with COVID-19 and a complete suspension of its capital-return program make American Airlines wholly avoidable.
A Tesla Model S plugged in for charging. Image source: Tesla.
Tesla Motors
The No. 2 stock on Robinhood's platform, Tesla Motors (NASDAQ: TSLA), might just be the most overvalued large-cap stock in existence. The bull thesis surrounding Tesla has to do with its first-mover advantages. It fell just 450 vehicles short of 500,000 EVs delivered in 2020. Tesla also offers a clearly identifiable edge over its competition in battery power and range.
But we're also talking about a company with a valuation north of $700 billion that's only producing around a half-million EVs annually. For comparison, Detroit's automakers each have more than two established production facilities and are capable of producing millions of vehicles each year. Tesla's market cap is currently higher than many of the world's most-established automakers on a combined basis.
Additionally, Tesla hasn't shown an ability to generate a profit solely from selling EVs. In four of the past five quarters, selling renewable energy credits has helped push Tesla to a nominal level of adjusted profits. Investors shouldn't have to worry about the recurring profit potential of a company with a $700 billion-plus valuation.
As one last reminder, the auto industry traditionally yields low margins. The EV industry looks like a bubble in the making, with Tesla as the No. 1 stock to avoid in 2021.
10 stocks we like better than Tesla
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Tesla wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Sean Williams has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Previously the most-held stock on Robinhood and now currently 15th, Canadian licensed-producer Aurora Cannabis (NYSE: ACB) should be avoided like the plague. While it's fantastic to see young people putting their money to work in the greatest wealth creator on the planet (the stock market), it's also unnerving that they aren't being given the proper education and tools to succeed. However, even with NIO lifting its gross vehicle margin into positive double digits in Q3 2020 from a negative single-digit number in the prior-year period, an $83 billion market cap is a bit much. | Previously the most-held stock on Robinhood and now currently 15th, Canadian licensed-producer Aurora Cannabis (NYSE: ACB) should be avoided like the plague. Following a better-than-1,100% gain in 2020, electric-vehicle (EV) manufacturer NIO (NYSE: NIO) has worked its way up to the ninth-most-held stock on Robinhood's platform. 2 stock on Robinhood's platform, Tesla Motors (NASDAQ: TSLA), might just be the most overvalued large-cap stock in existence. | Previously the most-held stock on Robinhood and now currently 15th, Canadian licensed-producer Aurora Cannabis (NYSE: ACB) should be avoided like the plague. 2 stock on Robinhood's platform, Tesla Motors (NASDAQ: TSLA), might just be the most overvalued large-cap stock in existence. 10 stocks we like better than Tesla When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Previously the most-held stock on Robinhood and now currently 15th, Canadian licensed-producer Aurora Cannabis (NYSE: ACB) should be avoided like the plague. Image source: American Airlines. 5 stock. |
36977.0 | 2021-01-07 00:00:00 UTC | CANADA STOCKS - TSX rises 1.14% to 18,031.48 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-1.14-to-18031.48-2021-01-07 | nan | nan | * The Toronto Stock Exchange's TSX rises 1.14 percent to 18,031.48
* Leading the index were Ballard Power Systems Inc , up 15.6%, Trillium Therapeutics Inc TRIL.TO, up 7%, and Shopify Inc SHOP.TO, higher by 6.9%.
* Lagging shares were Yamana Gold Inc YRI.TO, down 2.9%, B2Gold Corp BTO.TO, down 2.6%, and Chartwell Retirement Residences CSH_u.TO, lower by 2.5%.
* On the TSX 153 issues rose and 68 fell as a 2.3-to-1 ratio favored advancers. There were 27 new highs and no new lows, with total volume of 182.9 million shares.
* The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO.
* The TSX's energy group .SPTTEN rose 1.78 points, or 1.8%, while the financials sector .SPTTFS climbed 1.42 points, or 0.5%.
* West Texas Intermediate crude futures CLc1 rose 0.65%, or $0.33, to $50.96 a barrel. Brent crude LCOc1 rose 0.39%, or $0.21, to $54.51 O/R
* The TSX is up 3.4% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 1.14 percent to 18,031.48 * Leading the index were Ballard Power Systems Inc , up 15.6%, Trillium Therapeutics Inc TRIL.TO, up 7%, and Shopify Inc SHOP.TO, higher by 6.9%. * Lagging shares were Yamana Gold Inc YRI.TO, down 2.9%, B2Gold Corp BTO.TO, down 2.6%, and Chartwell Retirement Residences CSH_u.TO, lower by 2.5%. | * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The TSX's energy group .SPTTEN rose 1.78 points, or 1.8%, while the financials sector .SPTTFS climbed 1.42 points, or 0.5%. Brent crude LCOc1 rose 0.39%, or $0.21, to $54.51 O/R * The TSX is up 3.4% for the year. | * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The TSX's energy group .SPTTEN rose 1.78 points, or 1.8%, while the financials sector .SPTTFS climbed 1.42 points, or 0.5%. Brent crude LCOc1 rose 0.39%, or $0.21, to $54.51 O/R * The TSX is up 3.4% for the year. | * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 1.14 percent to 18,031.48 * Leading the index were Ballard Power Systems Inc , up 15.6%, Trillium Therapeutics Inc TRIL.TO, up 7%, and Shopify Inc SHOP.TO, higher by 6.9%. * Lagging shares were Yamana Gold Inc YRI.TO, down 2.9%, B2Gold Corp BTO.TO, down 2.6%, and Chartwell Retirement Residences CSH_u.TO, lower by 2.5%. |
36978.0 | 2021-01-07 00:00:00 UTC | Cannabis Stocks May Be 2021’s Big Winners | ACB | https://www.nasdaq.com/articles/cannabis-stocks-may-be-2021s-big-winners-2021-01-07 | nan | nan | D
emocrats’ long-awaited blue wave failed to materialize in November, but after Georgia’s Wednesday election, a green wave may be imminent.
Shares of pot companies jumped on the news of Democratic Senate candidates Raphael Warnock and Jon Ossoff defeating their Republican opponents. Canopy Growth Corp (CGC), the largest cannabis company by market cap, jumped 15%. Other industry leaders like Cronos Group (CRON) and Aurora Cannabis (ACB) are up 22% and 10%, respectively.
Marijuana stocks have outperformed equity markets since Joe Biden – who vowed on the campaign trail to decriminalize marijuana – was elected President. The Cannabis ETF (THCX), which tracks 30 pot stocks, is up over 60% since the beginning of November.
Despite those returns, investor confidence has been restrained by the seeming likelihood of Republican Senate, which dimmed the prospects of legislation decriminalizing or even legalizing marijuana. The surprising election of Warnock and Ossoff hands control of the Senate to Democrats, changing the entire outlook.
“Everything suggests that a Biden administration will federally legalize cannabis,” said John Ramsay, CEO of Infinite CBD, a Colorado-based cannabis company. “If this happens, it is going to create more multistate operators, broaden the cannabis industry, create more jobs, generate more taxes, offer more products, produce more incomes in lower income sectors, and undoubtedly cause a spike in the value of cannabis stocks."
Any federal bill to decriminalize or legalize cannabis would come on the heels of successful state referendums in November, when Montana, South Dakota, Arizona and New Jersey all voted to legalize recreational marijuana use. Those measures reflect the increasingly bipartisan acceptance of the drug. Following the 2020 election, 15 states have now legalized recreational marijuana and 34 states have legalized medical marijuana.
Cumulatively, these efforts represent a sea change in public opinion from just eight years ago, when Colorado became the first state to legalize recreational use. Even so, not all industry experts are bullish on a federal legalization package.
“While this is an exciting time for the industry, I believe the reality of legislative priorities, narrow majorities in the House and Senate, as well as a lack of scientific research on cannabis will cause federal legalization to take longer than the industry would like and some prognosticators are predicting,” said Anthony Coniglio, CEO of NewLake Capital, a cannabis real-estate investment vehicle.
“There is a huge misunderstanding among many investors on this issue,” adds Dan Ahrens, a PM at Advisorshares who manages two cannabis ETFs (MSOS and YOLO). “There will most certainly be a great deal of cannabis reform, but it falls short of a full federal, adult use legalization.”
Ahrens believes that investors instead should expect piecemeal reforms, such as changes to regulations around cannabis banking, DEA rescheduling and decriminalization, and reformations to Section 280E of the tax code (which pertains to businesses trafficking in controlled substances).
Highlighting pushback from within their own party and competing policy priorities, House Democrats in September postponed a vote on legislation to decriminalize marijuana at the federal level, citing pushback from moderates and the need to focus on providing relief around the coronavirus pandemic. With the Senate now deadlocked at 50 Democrats and 50 Republicans, Biden may struggle to pass legislation if moderate Democrats – in particular, West Virginia Senator Joe Manchin – side with conservatives.
Regardless of whether there’s full legalization or piecemeal reform, industry observers agree that U.S.-based cannabis companies are in a better position than their Canadian counterparts.
“The top revenue-generating cannabis operators in the U.S. are already outselling their counterparts in cannabis-legal Canada and, given the potential opportunities with U.S. cannabis legalization and national rollout, we see significant positive potential ahead,” said Stuart Titus, CEO of Medical Marijuana, Inc.
Ahrens echoes that assessment, writing that he “[does not] see a path for Canadians to enter the U.S. (other than CDB business or minority ownership partnerships) anytime in the foreseeable future,” and noting that he's a “strong believer” in leading U.S. multi-state operators, singling out Green Thumb Industries (GTBIF), Curaleaf (CURLF), Trulieve (TCNNF), and Cresco Labs (CRLBF).
Specific companies aside, the ongoing shift in the U.S. electorate’s attitude bodes well for the pot industry’s long-term future.
“The reality is that the people have spoken resoundingly on this issue with massive electoral victories for cannabis across the country,” commented Kris Kane, president of cannabis investment firm 4Front. “As far as the American public is concerned, this issue is over,” he added. “We just need politicians to catch up to the voters.”
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other industry leaders like Cronos Group (CRON) and Aurora Cannabis (ACB) are up 22% and 10%, respectively. Shares of pot companies jumped on the news of Democratic Senate candidates Raphael Warnock and Jon Ossoff defeating their Republican opponents. “There is a huge misunderstanding among many investors on this issue,” adds Dan Ahrens, a PM at Advisorshares who manages two cannabis ETFs (MSOS and YOLO). | Other industry leaders like Cronos Group (CRON) and Aurora Cannabis (ACB) are up 22% and 10%, respectively. Following the 2020 election, 15 states have now legalized recreational marijuana and 34 states have legalized medical marijuana. “There will most certainly be a great deal of cannabis reform, but it falls short of a full federal, adult use legalization.” Ahrens believes that investors instead should expect piecemeal reforms, such as changes to regulations around cannabis banking, DEA rescheduling and decriminalization, and reformations to Section 280E of the tax code (which pertains to businesses trafficking in controlled substances). | Other industry leaders like Cronos Group (CRON) and Aurora Cannabis (ACB) are up 22% and 10%, respectively. Any federal bill to decriminalize or legalize cannabis would come on the heels of successful state referendums in November, when Montana, South Dakota, Arizona and New Jersey all voted to legalize recreational marijuana use. “While this is an exciting time for the industry, I believe the reality of legislative priorities, narrow majorities in the House and Senate, as well as a lack of scientific research on cannabis will cause federal legalization to take longer than the industry would like and some prognosticators are predicting,” said Anthony Coniglio, CEO of NewLake Capital, a cannabis real-estate investment vehicle. | Other industry leaders like Cronos Group (CRON) and Aurora Cannabis (ACB) are up 22% and 10%, respectively. Following the 2020 election, 15 states have now legalized recreational marijuana and 34 states have legalized medical marijuana. Cumulatively, these efforts represent a sea change in public opinion from just eight years ago, when Colorado became the first state to legalize recreational use. |
36979.0 | 2021-01-07 00:00:00 UTC | Why Aurora Cannabis, Aphria, and Other Cannabis Stocks Rose Again Today | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-aphria-and-other-cannabis-stocks-rose-again-today-2021-01-07 | nan | nan | What happened
Shares of Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), Tilray (NASDAQ: TLRY), and OrganiGram Holdings (NASDAQ: OGI) continued the upward momentum in cannabis names today.
Each was up sharply before gains settled back down. As of 12:45 p.m. EST, Aurora was nearly back to even and OrganiGram up 3%. But Aphria and Tilray -- which have announced plans to merge -- were still up 6% and 10%, respectively.
So what
Early gains continued after yesterday's runoff election results secured control of both houses of Congress for the Democratic party. But the subsequent divergence in gains may reflect investor realization that each company should be looked at individually rather than as a group.
Image source: Getty Images.
Now what
Canadian pot companies that have aspirations to expand into the U.S. cheered the final election results when the Georgia runoff for the final two Senate seats went to the Democrats. Federal marijuana legalization is required for those companies to be able to do business in the country.
Aurora Cannabis' business has been struggling more than many of its peers. Since the Canadian pot market opened in October 2018, the company's share price has dropped by 92%. Aurora management has been trying to improve its business fundamentals since it launched a transformation plan early in 2020. The goals are to reduce expenses, better scrutinize capital expenditures, and improve the balance sheet en route to attaining profitability. But in a business update last month, management said its "back to basics" business strategy "will delay the company's ability to achieve positive adjusted EBITDA as management invests in its consumer business."
Aphria seems to be moving in a different direction. The company acquired U.S. craft brewer SweetWater Brewing in November for about $300 million, partly to bring established U.S. distribution infrastructure into its fold. Last month, Aphria and Tilray announced a plan to merge and be led by current Aphria CEO Irwin Simon. The combined company, which will use the Tilray name, would be one of the largest global cannabis companies. Aphria shares are up more than 70% since the start of 2020.
OrganiGram is also on a better path than Aurora, as it reported net revenue up 25% in the most recently reported quarter versus the prior-year quarter. OrganiGram also has a more flexible operation to help control costs. It operates a single cultivation facility in Moncton, New Brunswick.
The differences in the path of the underlying businesses help explain the direction the stocks are taking as initial enthusiasm for a more cannabis-friendly U.S. government settles down. Investors should continue to follow the underlying business fundamentals even if they want to speculate on the opening of the U.S. market.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), Tilray (NASDAQ: TLRY), and OrganiGram Holdings (NASDAQ: OGI) continued the upward momentum in cannabis names today. So what Early gains continued after yesterday's runoff election results secured control of both houses of Congress for the Democratic party. The goals are to reduce expenses, better scrutinize capital expenditures, and improve the balance sheet en route to attaining profitability. | What happened Shares of Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), Tilray (NASDAQ: TLRY), and OrganiGram Holdings (NASDAQ: OGI) continued the upward momentum in cannabis names today. So what Early gains continued after yesterday's runoff election results secured control of both houses of Congress for the Democratic party. Since the Canadian pot market opened in October 2018, the company's share price has dropped by 92%. | What happened Shares of Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), Tilray (NASDAQ: TLRY), and OrganiGram Holdings (NASDAQ: OGI) continued the upward momentum in cannabis names today. But in a business update last month, management said its "back to basics" business strategy "will delay the company's ability to achieve positive adjusted EBITDA as management invests in its consumer business." See the 10 stocks *Stock Advisor returns as of November 20, 2020 Howard Smith has no position in any of the stocks mentioned. | What happened Shares of Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), Tilray (NASDAQ: TLRY), and OrganiGram Holdings (NASDAQ: OGI) continued the upward momentum in cannabis names today. As of 12:45 p.m. EST, Aurora was nearly back to even and OrganiGram up 3%. 10 stocks we like better than Aurora Cannabis Inc. |
36980.0 | 2021-01-07 00:00:00 UTC | Why Aurora Cannabis Plummeted 28.9% in December | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-plummeted-28.9-in-december-2021-01-07 | nan | nan | What happened
Shares of Aurora Cannabis (NYSE: ACB) plunged 28.9% in December, according to data provided by S&P Global Market Intelligence, after the month began with reports that it was laying off more workers and pausing operations at one of its marijuana production facilities.
So what
Share prices across the marijuana industry were under heavy pressure as companies began scaling back operations. While the COVID-19 pandemic could have presented the legal cannabis sector with a unique opportunity for growth, it didn't pan out that way, and by December, analysts were saying that they expected sales to grow at a much slower pace than they had before.
Image source: Getty Images.
Aurora was already a bit troubled before that. Earlier in 2020, it was at risk of being delisted from the New York Stock Exchange until it initiated a 1-for-12 reverse stock split. And while that crisis was averted, it's still a loss-generating operation that's trying to cut costs. Management has failed to live up to its repeated promises to at least turn in positive adjusted EBITDA.
Now what
Aurora also lacks an advantage possessed by many of its large peers -- a deep-pocketed partner. Canopy Growth, for example, has an alliance with alcoholic beverage giant Constellation Brands, while HEXO has one with tobacco powerhouse Altria.
ACB data by YCharts
Cannabis-infused beverages and THC edibles are two of the biggest opportunities the marijuana industry has before it, but Aurora Cannabis seems unable to gain traction anywhere. Maybe with a new administration in Washington and Democrats in control of both the Senate and the House of Representatives, the U.S. government can get a legalization bill approved. That outcome could spark some optimism for this marijuana stock.
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Rich Duprey owns shares of Altria Group. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Aurora Cannabis (NYSE: ACB) plunged 28.9% in December, according to data provided by S&P Global Market Intelligence, after the month began with reports that it was laying off more workers and pausing operations at one of its marijuana production facilities. ACB data by YCharts Cannabis-infused beverages and THC edibles are two of the biggest opportunities the marijuana industry has before it, but Aurora Cannabis seems unable to gain traction anywhere. While the COVID-19 pandemic could have presented the legal cannabis sector with a unique opportunity for growth, it didn't pan out that way, and by December, analysts were saying that they expected sales to grow at a much slower pace than they had before. | What happened Shares of Aurora Cannabis (NYSE: ACB) plunged 28.9% in December, according to data provided by S&P Global Market Intelligence, after the month began with reports that it was laying off more workers and pausing operations at one of its marijuana production facilities. ACB data by YCharts Cannabis-infused beverages and THC edibles are two of the biggest opportunities the marijuana industry has before it, but Aurora Cannabis seems unable to gain traction anywhere. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | What happened Shares of Aurora Cannabis (NYSE: ACB) plunged 28.9% in December, according to data provided by S&P Global Market Intelligence, after the month began with reports that it was laying off more workers and pausing operations at one of its marijuana production facilities. ACB data by YCharts Cannabis-infused beverages and THC edibles are two of the biggest opportunities the marijuana industry has before it, but Aurora Cannabis seems unable to gain traction anywhere. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! | What happened Shares of Aurora Cannabis (NYSE: ACB) plunged 28.9% in December, according to data provided by S&P Global Market Intelligence, after the month began with reports that it was laying off more workers and pausing operations at one of its marijuana production facilities. ACB data by YCharts Cannabis-infused beverages and THC edibles are two of the biggest opportunities the marijuana industry has before it, but Aurora Cannabis seems unable to gain traction anywhere. 10 stocks we like better than Aurora Cannabis Inc. |
36981.0 | 2021-01-07 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Roku Inc, Oragenics Inc, Conagra Brands | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-roku-inc-oragenics-inc-conagra-brands-2021-01-07 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes opened higher on Thursday, with the S&P 500 and the Dow near record levels as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. .N
At 9:50 a.m. ET, the Dow Jones Industrial Average .DJI was up 0.37% at 30,942.38. The S&P 500 .SPX was up 0.92% at 3,782.73 and the Nasdaq Composite .IXIC was up 1.47% at 12,928.213. The top three S&P 500 .PG.INX percentage gainers: ** DXC Technology Company , up 9.3% ** Constellation Brands Inc , up 6.1% ** Enphase Energy Inc , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Conagra Brands Inc , down 3.9% ** 3M Co , down 3.8% ** Fox Corp , down 2.3% The top NYSE .PG.N percentage gainers: ** Sos Ltd , up 115.7% ** 3D Systems Corp , up 30.1% The top three NYSE .PL.N percentage losers: ** China Telecom Corp Ltd , down 15.9% ** Concord Medical Services Holdings Ltd , down 12.4% ** China Unicom (Hong Kong) Ltd , down 12% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 72.6% ** Future Fintech Group Inc , up 52.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 29.5% ** Digital Ally Inc , down 25.6% ** Addex Therapeutics Ltd , down 19.5% ** SPAR Group Ltd SGRP.O: up 12.2%
BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 14.6%
BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 3.9%
BUZZ-Set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.2%
BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.6%
BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 11.4% ** Canopy Growth Corp CGC.O: up 6.7% ** Aphria Inc APHA.O: up 10.1%
** Cronos Group Inc CRON.O: up 7.3% ** Hexo Corp HEXO.N: up 8.5% ** Aurora Cannabis Inc ACB.N: up 6.0% ** Tilray Inc TLRY.O: up 16.6%
BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 3.3%
BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Solaredge Technologies Inc SEDG.O: up 2.2% ** Canadian Solar Inc CSIQ.O: up 3.9% ** First Solar Inc FSLR.O: up 4.6% ** Enphase Energy Inc ENPH.O: up 5.5% ** Sunrun Inc RUN.O: up 6.7% ** SunPower Corp SPWR.O: up 5.1% ** NextEra Energy Inc NEE.N: up 1.7% ** ReneSola Ltd SOL.N: up 12.2%
BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 4.0% ** Bank of America Corp BAC.N: up 4.0% ** Wells Fargo & Co WFC.N: up 3.6% ** Citigroup Inc C.N: up 3.1% BUZZ-U.S. banks: Jefferies sees positive 2021 ** Las Vegas Sands Corp LVS.N: down 1.2%
BUZZ-Falls as CEO takes medical leave of absence ** DXC Technology Co DXC.N: up 9.3%
BUZZ-Rises on report of $10 bln French takeover approach ** Roku Inc ROKU.N: up 7.2%
BUZZ-Brokerage raises PT, sees further streaming growth in 2021 ** Albermarle Corp ALB.N: up 4.3%
BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 10.0%
BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4%
BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 4.0%
BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 3.0%
BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.8%
BUZZ-Rises on positive late-stage data from protein disorder treatment ** Lyft Inc LYFT.O: up 1.9%
BUZZ-Up as BTIG raises PT on growth prospects ** Northern Oil & Gas Inc NOG.N: up 3.9%
BUZZ-Raymond James initiates coverage with "strong buy" ** Aerojet Rocketdyne Holdings Inc AJRD.N: down 0.3%
BUZZ-Jefferies says competing bid unlikely; downgrades ** Oxford Immunotec Global PLC OXFD.O: up 26.4%
BUZZ-Gains after takeover by PerkinElmer ** Oragenics Inc OGEN.N: up 68.1%
BUZZ-Rises on adjuvant deal with Adjuvance Technologies
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.08%
Consumer Discretionary
.SPLRCD
up 1.20%
Consumer Staples
.SPLRCS
down 0.22%
Energy
.SPNY
up 1.18%
Financial
.SPSY
up 1.86%
Health
.SPXHC
up 0.47%
Industrial
.SPLRCI
down 0.09%
Information Technology
.SPLRCT
up 1.32%
Materials
.SPLRCM
up 0.89%
Real Estate
.SPLRCR
up 0.33%
Utilities
.SPLRCU
flat
(Compiled by Amruta Khandekar in Bengaluru)
((Amruta.Khandekar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** DXC Technology Company , up 9.3% ** Constellation Brands Inc , up 6.1% ** Enphase Energy Inc , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Conagra Brands Inc , down 3.9% ** 3M Co , down 3.8% ** Fox Corp , down 2.3% The top NYSE .PG.N percentage gainers: ** Sos Ltd , up 115.7% ** 3D Systems Corp , up 30.1% The top three NYSE .PL.N percentage losers: ** China Telecom Corp Ltd , down 15.9% ** Concord Medical Services Holdings Ltd , down 12.4% ** China Unicom (Hong Kong) Ltd , down 12% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 72.6% ** Future Fintech Group Inc , up 52.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 29.5% ** Digital Ally Inc , down 25.6% ** Addex Therapeutics Ltd , down 19.5% ** SPAR Group Ltd SGRP.O: up 12.2% BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 14.6% BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 3.9% BUZZ-Set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.2% BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.6% BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 11.4% ** Canopy Growth Corp CGC.O: up 6.7% ** Aphria Inc APHA.O: up 10.1% ** Cronos Group Inc CRON.O: up 7.3% ** Hexo Corp HEXO.N: up 8.5% ** Aurora Cannabis Inc ACB.N: up 6.0% ** Tilray Inc TLRY.O: up 16.6% BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 3.3% BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Solaredge Technologies Inc SEDG.O: up 2.2% ** Canadian Solar Inc CSIQ.O: up 3.9% ** First Solar Inc FSLR.O: up 4.6% ** Enphase Energy Inc ENPH.O: up 5.5% ** Sunrun Inc RUN.O: up 6.7% ** SunPower Corp SPWR.O: up 5.1% ** NextEra Energy Inc NEE.N: up 1.7% ** ReneSola Ltd SOL.N: up 12.2% BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 4.0% ** Bank of America Corp BAC.N: up 4.0% ** Wells Fargo & Co WFC.N: up 3.6% ** Citigroup Inc C.N: up 3.1% BUZZ-U.S. banks: Jefferies sees positive 2021 ** Las Vegas Sands Corp LVS.N: down 1.2% BUZZ-Falls as CEO takes medical leave of absence ** DXC Technology Co DXC.N: up 9.3% BUZZ-Rises on report of $10 bln French takeover approach ** Roku Inc ROKU.N: up 7.2% BUZZ-Brokerage raises PT, sees further streaming growth in 2021 ** Albermarle Corp ALB.N: up 4.3% BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 10.0% BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 4.0% BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 3.0% BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.8% BUZZ-Rises on positive late-stage data from protein disorder treatment ** Lyft Inc LYFT.O: up 1.9% BUZZ-Up as BTIG raises PT on growth prospects ** Northern Oil & Gas Inc NOG.N: up 3.9% BUZZ-Raymond James initiates coverage with "strong buy" ** Aerojet Rocketdyne Holdings Inc AJRD.N: down 0.3% BUZZ-Jefferies says competing bid unlikely; downgrades ** Oxford Immunotec Global PLC OXFD.O: up 26.4% BUZZ-Gains after takeover by PerkinElmer ** Oragenics Inc OGEN.N: up 68.1% BUZZ-Rises on adjuvant deal with Adjuvance Technologies The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher on Thursday, with the S&P 500 and the Dow near record levels as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. flat (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** DXC Technology Company , up 9.3% ** Constellation Brands Inc , up 6.1% ** Enphase Energy Inc , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Conagra Brands Inc , down 3.9% ** 3M Co , down 3.8% ** Fox Corp , down 2.3% The top NYSE .PG.N percentage gainers: ** Sos Ltd , up 115.7% ** 3D Systems Corp , up 30.1% The top three NYSE .PL.N percentage losers: ** China Telecom Corp Ltd , down 15.9% ** Concord Medical Services Holdings Ltd , down 12.4% ** China Unicom (Hong Kong) Ltd , down 12% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 72.6% ** Future Fintech Group Inc , up 52.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 29.5% ** Digital Ally Inc , down 25.6% ** Addex Therapeutics Ltd , down 19.5% ** SPAR Group Ltd SGRP.O: up 12.2% BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 14.6% BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 3.9% BUZZ-Set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.2% BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.6% BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 11.4% ** Canopy Growth Corp CGC.O: up 6.7% ** Aphria Inc APHA.O: up 10.1% ** Cronos Group Inc CRON.O: up 7.3% ** Hexo Corp HEXO.N: up 8.5% ** Aurora Cannabis Inc ACB.N: up 6.0% ** Tilray Inc TLRY.O: up 16.6% BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 3.3% BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Solaredge Technologies Inc SEDG.O: up 2.2% ** Canadian Solar Inc CSIQ.O: up 3.9% ** First Solar Inc FSLR.O: up 4.6% ** Enphase Energy Inc ENPH.O: up 5.5% ** Sunrun Inc RUN.O: up 6.7% ** SunPower Corp SPWR.O: up 5.1% ** NextEra Energy Inc NEE.N: up 1.7% ** ReneSola Ltd SOL.N: up 12.2% BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 4.0% ** Bank of America Corp BAC.N: up 4.0% ** Wells Fargo & Co WFC.N: up 3.6% ** Citigroup Inc C.N: up 3.1% BUZZ-U.S. banks: Jefferies sees positive 2021 ** Las Vegas Sands Corp LVS.N: down 1.2% BUZZ-Falls as CEO takes medical leave of absence ** DXC Technology Co DXC.N: up 9.3% BUZZ-Rises on report of $10 bln French takeover approach ** Roku Inc ROKU.N: up 7.2% BUZZ-Brokerage raises PT, sees further streaming growth in 2021 ** Albermarle Corp ALB.N: up 4.3% BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 10.0% BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 4.0% BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 3.0% BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.8% BUZZ-Rises on positive late-stage data from protein disorder treatment ** Lyft Inc LYFT.O: up 1.9% BUZZ-Up as BTIG raises PT on growth prospects ** Northern Oil & Gas Inc NOG.N: up 3.9% BUZZ-Raymond James initiates coverage with "strong buy" ** Aerojet Rocketdyne Holdings Inc AJRD.N: down 0.3% BUZZ-Jefferies says competing bid unlikely; downgrades ** Oxford Immunotec Global PLC OXFD.O: up 26.4% BUZZ-Gains after takeover by PerkinElmer ** Oragenics Inc OGEN.N: up 68.1% BUZZ-Rises on adjuvant deal with Adjuvance Technologies The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher on Thursday, with the S&P 500 and the Dow near record levels as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. ET, the Dow Jones Industrial Average .DJI was up 0.37% at 30,942.38. | The top three S&P 500 .PG.INX percentage gainers: ** DXC Technology Company , up 9.3% ** Constellation Brands Inc , up 6.1% ** Enphase Energy Inc , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Conagra Brands Inc , down 3.9% ** 3M Co , down 3.8% ** Fox Corp , down 2.3% The top NYSE .PG.N percentage gainers: ** Sos Ltd , up 115.7% ** 3D Systems Corp , up 30.1% The top three NYSE .PL.N percentage losers: ** China Telecom Corp Ltd , down 15.9% ** Concord Medical Services Holdings Ltd , down 12.4% ** China Unicom (Hong Kong) Ltd , down 12% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 72.6% ** Future Fintech Group Inc , up 52.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 29.5% ** Digital Ally Inc , down 25.6% ** Addex Therapeutics Ltd , down 19.5% ** SPAR Group Ltd SGRP.O: up 12.2% BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 14.6% BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 3.9% BUZZ-Set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.2% BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.6% BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 11.4% ** Canopy Growth Corp CGC.O: up 6.7% ** Aphria Inc APHA.O: up 10.1% ** Cronos Group Inc CRON.O: up 7.3% ** Hexo Corp HEXO.N: up 8.5% ** Aurora Cannabis Inc ACB.N: up 6.0% ** Tilray Inc TLRY.O: up 16.6% BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 3.3% BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Solaredge Technologies Inc SEDG.O: up 2.2% ** Canadian Solar Inc CSIQ.O: up 3.9% ** First Solar Inc FSLR.O: up 4.6% ** Enphase Energy Inc ENPH.O: up 5.5% ** Sunrun Inc RUN.O: up 6.7% ** SunPower Corp SPWR.O: up 5.1% ** NextEra Energy Inc NEE.N: up 1.7% ** ReneSola Ltd SOL.N: up 12.2% BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 4.0% ** Bank of America Corp BAC.N: up 4.0% ** Wells Fargo & Co WFC.N: up 3.6% ** Citigroup Inc C.N: up 3.1% BUZZ-U.S. banks: Jefferies sees positive 2021 ** Las Vegas Sands Corp LVS.N: down 1.2% BUZZ-Falls as CEO takes medical leave of absence ** DXC Technology Co DXC.N: up 9.3% BUZZ-Rises on report of $10 bln French takeover approach ** Roku Inc ROKU.N: up 7.2% BUZZ-Brokerage raises PT, sees further streaming growth in 2021 ** Albermarle Corp ALB.N: up 4.3% BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 10.0% BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 4.0% BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 3.0% BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.8% BUZZ-Rises on positive late-stage data from protein disorder treatment ** Lyft Inc LYFT.O: up 1.9% BUZZ-Up as BTIG raises PT on growth prospects ** Northern Oil & Gas Inc NOG.N: up 3.9% BUZZ-Raymond James initiates coverage with "strong buy" ** Aerojet Rocketdyne Holdings Inc AJRD.N: down 0.3% BUZZ-Jefferies says competing bid unlikely; downgrades ** Oxford Immunotec Global PLC OXFD.O: up 26.4% BUZZ-Gains after takeover by PerkinElmer ** Oragenics Inc OGEN.N: up 68.1% BUZZ-Rises on adjuvant deal with Adjuvance Technologies The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher on Thursday, with the S&P 500 and the Dow near record levels as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. up 1.08% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** DXC Technology Company , up 9.3% ** Constellation Brands Inc , up 6.1% ** Enphase Energy Inc , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Conagra Brands Inc , down 3.9% ** 3M Co , down 3.8% ** Fox Corp , down 2.3% The top NYSE .PG.N percentage gainers: ** Sos Ltd , up 115.7% ** 3D Systems Corp , up 30.1% The top three NYSE .PL.N percentage losers: ** China Telecom Corp Ltd , down 15.9% ** Concord Medical Services Holdings Ltd , down 12.4% ** China Unicom (Hong Kong) Ltd , down 12% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 72.6% ** Future Fintech Group Inc , up 52.4% The top three Nasdaq .PL.O percentage losers: ** Urban One Inc , down 29.5% ** Digital Ally Inc , down 25.6% ** Addex Therapeutics Ltd , down 19.5% ** SPAR Group Ltd SGRP.O: up 12.2% BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 14.6% BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 3.9% BUZZ-Set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.2% BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.6% BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 11.4% ** Canopy Growth Corp CGC.O: up 6.7% ** Aphria Inc APHA.O: up 10.1% ** Cronos Group Inc CRON.O: up 7.3% ** Hexo Corp HEXO.N: up 8.5% ** Aurora Cannabis Inc ACB.N: up 6.0% ** Tilray Inc TLRY.O: up 16.6% BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 3.3% BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Solaredge Technologies Inc SEDG.O: up 2.2% ** Canadian Solar Inc CSIQ.O: up 3.9% ** First Solar Inc FSLR.O: up 4.6% ** Enphase Energy Inc ENPH.O: up 5.5% ** Sunrun Inc RUN.O: up 6.7% ** SunPower Corp SPWR.O: up 5.1% ** NextEra Energy Inc NEE.N: up 1.7% ** ReneSola Ltd SOL.N: up 12.2% BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 4.0% ** Bank of America Corp BAC.N: up 4.0% ** Wells Fargo & Co WFC.N: up 3.6% ** Citigroup Inc C.N: up 3.1% BUZZ-U.S. banks: Jefferies sees positive 2021 ** Las Vegas Sands Corp LVS.N: down 1.2% BUZZ-Falls as CEO takes medical leave of absence ** DXC Technology Co DXC.N: up 9.3% BUZZ-Rises on report of $10 bln French takeover approach ** Roku Inc ROKU.N: up 7.2% BUZZ-Brokerage raises PT, sees further streaming growth in 2021 ** Albermarle Corp ALB.N: up 4.3% BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 10.0% BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 4.0% BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 3.0% BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.8% BUZZ-Rises on positive late-stage data from protein disorder treatment ** Lyft Inc LYFT.O: up 1.9% BUZZ-Up as BTIG raises PT on growth prospects ** Northern Oil & Gas Inc NOG.N: up 3.9% BUZZ-Raymond James initiates coverage with "strong buy" ** Aerojet Rocketdyne Holdings Inc AJRD.N: down 0.3% BUZZ-Jefferies says competing bid unlikely; downgrades ** Oxford Immunotec Global PLC OXFD.O: up 26.4% BUZZ-Gains after takeover by PerkinElmer ** Oragenics Inc OGEN.N: up 68.1% BUZZ-Rises on adjuvant deal with Adjuvance Technologies The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher on Thursday, with the S&P 500 and the Dow near record levels as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. ET, the Dow Jones Industrial Average .DJI was up 0.37% at 30,942.38. |
36982.0 | 2021-01-07 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Walgreens, CureVac, big banks | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-walgreens-curevac-big-banks-2021-01-07 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes were set to open higher on Thursday as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. .N
At 9:02 a.m. ET, Dow e-minis 1YMc1 were up 0.35% at 30,827. S&P 500 e-minis ESc1 were up 0.55% at 3,761, while Nasdaq 100 e-minis NQc1 were up 0.80% at 12,717.5. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 82.6% ** 3D Systems Corp , up 19.0% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** China Unicom (Hong Kong) Ltd , down 16.9% ** Ingersoll Rand Inc , down 14.3% ** China Telecom Corp Ltd , down 12.7% The top Nasdaq percentage gainers premarket .PRPG.O: ** The9 Ltd , up 41.8% ** Future Fintech Group Inc , up 41.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 20.9% ** Addex Therapeutics Inc , down 20.5% ** SPAR Group Ltd SGRP.O: up 7.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 17.7% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.6% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 21.9% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.8% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 5.5% premarket ** Cronos Group CRON.O: up 6.4% premarket ** Hexo Corp HEXO.N: up 6.0% premarket ** Aurora Cannabis Inc ACB.N: up 5.1% premarket ** Tilray Inc TLRY.O: up 10.7% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 0.3% premarket BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Netflix Inc NFLX.O: up 1.4% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 5.9% premarket ** First Solar Inc FSLR.O: up 4.4% premarket ** Enphase Energy Inc ENPH.O: up 2.5% premarket ** Sunrun Inc RUN.O: up 4.5% premarket ** SunPower Corp SPWR.O: up 6.7% premarket
** NextEra Energy Inc NEE.N: up 1.6% premarket ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 2.7% premarket ** Bank of America Corp BAC.N: up 2.7% premarket ** Wells Fargo & Co WFC.N: up 2.7% premarket ** Citigroup Inc C.N: up 3.1% premarket BUZZ-U.S. banks: Jefferies sees positive 2021 ** DXC Technology Co DXC.N: up 11.5% premarket BUZZ-Rises on report of $10 bln French takeover approach ** Albermarle Corp ALB.N: up 5.9% premarket BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 13.6% premarket BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% premarket BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 3.2% premarket BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 2.1% premarket BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.4% premarket BUZZ-Rises on positive late-stage data from protein disorder treatment
(Compiled by Amruta Khandekar in Bengaluru)
((Amruta.Khandekar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 82.6% ** 3D Systems Corp , up 19.0% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** China Unicom (Hong Kong) Ltd , down 16.9% ** Ingersoll Rand Inc , down 14.3% ** China Telecom Corp Ltd , down 12.7% The top Nasdaq percentage gainers premarket .PRPG.O: ** The9 Ltd , up 41.8% ** Future Fintech Group Inc , up 41.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 20.9% ** Addex Therapeutics Inc , down 20.5% ** SPAR Group Ltd SGRP.O: up 7.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 17.7% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.6% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 21.9% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.8% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 5.5% premarket ** Cronos Group CRON.O: up 6.4% premarket ** Hexo Corp HEXO.N: up 6.0% premarket ** Aurora Cannabis Inc ACB.N: up 5.1% premarket ** Tilray Inc TLRY.O: up 10.7% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 0.3% premarket BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Netflix Inc NFLX.O: up 1.4% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 5.9% premarket ** First Solar Inc FSLR.O: up 4.4% premarket ** Enphase Energy Inc ENPH.O: up 2.5% premarket ** Sunrun Inc RUN.O: up 4.5% premarket ** SunPower Corp SPWR.O: up 6.7% premarket ** NextEra Energy Inc NEE.N: up 1.6% premarket ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 2.7% premarket ** Bank of America Corp BAC.N: up 2.7% premarket ** Wells Fargo & Co WFC.N: up 2.7% premarket ** Citigroup Inc C.N: up 3.1% premarket BUZZ-U.S. banks: Jefferies sees positive 2021 ** DXC Technology Co DXC.N: up 11.5% premarket BUZZ-Rises on report of $10 bln French takeover approach ** Albermarle Corp ALB.N: up 5.9% premarket BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 13.6% premarket BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% premarket BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 3.2% premarket BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 2.1% premarket BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.4% premarket BUZZ-Rises on positive late-stage data from protein disorder treatment (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to open higher on Thursday as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. ET, Dow e-minis 1YMc1 were up 0.35% at 30,827. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 82.6% ** 3D Systems Corp , up 19.0% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** China Unicom (Hong Kong) Ltd , down 16.9% ** Ingersoll Rand Inc , down 14.3% ** China Telecom Corp Ltd , down 12.7% The top Nasdaq percentage gainers premarket .PRPG.O: ** The9 Ltd , up 41.8% ** Future Fintech Group Inc , up 41.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 20.9% ** Addex Therapeutics Inc , down 20.5% ** SPAR Group Ltd SGRP.O: up 7.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 17.7% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.6% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 21.9% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.8% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 5.5% premarket ** Cronos Group CRON.O: up 6.4% premarket ** Hexo Corp HEXO.N: up 6.0% premarket ** Aurora Cannabis Inc ACB.N: up 5.1% premarket ** Tilray Inc TLRY.O: up 10.7% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 0.3% premarket BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Netflix Inc NFLX.O: up 1.4% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 5.9% premarket ** First Solar Inc FSLR.O: up 4.4% premarket ** Enphase Energy Inc ENPH.O: up 2.5% premarket ** Sunrun Inc RUN.O: up 4.5% premarket ** SunPower Corp SPWR.O: up 6.7% premarket ** NextEra Energy Inc NEE.N: up 1.6% premarket ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 2.7% premarket ** Bank of America Corp BAC.N: up 2.7% premarket ** Wells Fargo & Co WFC.N: up 2.7% premarket ** Citigroup Inc C.N: up 3.1% premarket BUZZ-U.S. banks: Jefferies sees positive 2021 ** DXC Technology Co DXC.N: up 11.5% premarket BUZZ-Rises on report of $10 bln French takeover approach ** Albermarle Corp ALB.N: up 5.9% premarket BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 13.6% premarket BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% premarket BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 3.2% premarket BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 2.1% premarket BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.4% premarket BUZZ-Rises on positive late-stage data from protein disorder treatment (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to open higher on Thursday as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. S&P 500 e-minis ESc1 were up 0.55% at 3,761, while Nasdaq 100 e-minis NQc1 were up 0.80% at 12,717.5. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 82.6% ** 3D Systems Corp , up 19.0% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** China Unicom (Hong Kong) Ltd , down 16.9% ** Ingersoll Rand Inc , down 14.3% ** China Telecom Corp Ltd , down 12.7% The top Nasdaq percentage gainers premarket .PRPG.O: ** The9 Ltd , up 41.8% ** Future Fintech Group Inc , up 41.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 20.9% ** Addex Therapeutics Inc , down 20.5% ** SPAR Group Ltd SGRP.O: up 7.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 17.7% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.6% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 21.9% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.8% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 5.5% premarket ** Cronos Group CRON.O: up 6.4% premarket ** Hexo Corp HEXO.N: up 6.0% premarket ** Aurora Cannabis Inc ACB.N: up 5.1% premarket ** Tilray Inc TLRY.O: up 10.7% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 0.3% premarket BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Netflix Inc NFLX.O: up 1.4% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 5.9% premarket ** First Solar Inc FSLR.O: up 4.4% premarket ** Enphase Energy Inc ENPH.O: up 2.5% premarket ** Sunrun Inc RUN.O: up 4.5% premarket ** SunPower Corp SPWR.O: up 6.7% premarket ** NextEra Energy Inc NEE.N: up 1.6% premarket ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 2.7% premarket ** Bank of America Corp BAC.N: up 2.7% premarket ** Wells Fargo & Co WFC.N: up 2.7% premarket ** Citigroup Inc C.N: up 3.1% premarket BUZZ-U.S. banks: Jefferies sees positive 2021 ** DXC Technology Co DXC.N: up 11.5% premarket BUZZ-Rises on report of $10 bln French takeover approach ** Albermarle Corp ALB.N: up 5.9% premarket BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 13.6% premarket BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% premarket BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 3.2% premarket BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 2.1% premarket BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.4% premarket BUZZ-Rises on positive late-stage data from protein disorder treatment (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to open higher on Thursday as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. S&P 500 e-minis ESc1 were up 0.55% at 3,761, while Nasdaq 100 e-minis NQc1 were up 0.80% at 12,717.5. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 82.6% ** 3D Systems Corp , up 19.0% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** China Unicom (Hong Kong) Ltd , down 16.9% ** Ingersoll Rand Inc , down 14.3% ** China Telecom Corp Ltd , down 12.7% The top Nasdaq percentage gainers premarket .PRPG.O: ** The9 Ltd , up 41.8% ** Future Fintech Group Inc , up 41.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 20.9% ** Addex Therapeutics Inc , down 20.5% ** SPAR Group Ltd SGRP.O: up 7.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 17.7% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.6% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 21.9% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.8% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 5.5% premarket ** Cronos Group CRON.O: up 6.4% premarket ** Hexo Corp HEXO.N: up 6.0% premarket ** Aurora Cannabis Inc ACB.N: up 5.1% premarket ** Tilray Inc TLRY.O: up 10.7% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Moelis & Co MC.N: up 0.3% premarket BUZZ-J.P. Morgan upgrades as M&A recovery bounces back ** Netflix Inc NFLX.O: up 1.4% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 5.9% premarket ** First Solar Inc FSLR.O: up 4.4% premarket ** Enphase Energy Inc ENPH.O: up 2.5% premarket ** Sunrun Inc RUN.O: up 4.5% premarket ** SunPower Corp SPWR.O: up 6.7% premarket ** NextEra Energy Inc NEE.N: up 1.6% premarket ** ReneSola Ltd SOL.N: up 12.6% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate ** JPMorgan Chase & Co JPM.N: up 2.7% premarket ** Bank of America Corp BAC.N: up 2.7% premarket ** Wells Fargo & Co WFC.N: up 2.7% premarket ** Citigroup Inc C.N: up 3.1% premarket BUZZ-U.S. banks: Jefferies sees positive 2021 ** DXC Technology Co DXC.N: up 11.5% premarket BUZZ-Rises on report of $10 bln French takeover approach ** Albermarle Corp ALB.N: up 5.9% premarket BUZZ-To ramp up lithium production at Nevada site, shares rise ** Bed Bath & Beyond Inc BBBY.O: down 13.6% premarket BUZZ-Sinks on holiday-quarter results miss ** Micron Technology Inc MU.O: up 1.4% premarket BUZZ-BofA hikes PT on growth prospects ** Walgreens Boots Alliance Inc WBA.O: up 3.2% premarket BUZZ-Up on better-than-expected Q1 profit ** Arista Networks Inc ANET.N: up 2.1% premarket BUZZ-Rosenblatt sees "steady growth" heading into 2021; upgrades ** Alnylam Pharmaceuticals Inc ALNY.O: up 6.4% premarket BUZZ-Rises on positive late-stage data from protein disorder treatment (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to open higher on Thursday as bets on more pandemic aid under a Democrat-controlled U.S. Congress eclipsed data showing elevated levels of unemployment claims. ET, Dow e-minis 1YMc1 were up 0.35% at 30,827. |
36983.0 | 2021-01-07 00:00:00 UTC | Pre-Market Most Active for Jan 7, 2021 : SOS, FCEL, BBBY, NIO, XNET, AAPL, ACB, QS, AMC, SQQQ, TLRY, DXC | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-jan-7-2021-%3A-sos-fcel-bbby-nio-xnet-aapl-acb-qs-amc-sqqq-tlry | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 117.39 to 12,740.74. The total Pre-Market volume is currently 21,813,525 shares traded.
The following are the most active stocks for the pre-market session:
SOS Limited (SOS) is +1.67 at $3.39, with 6,947,022 shares traded.
FuelCell Energy, Inc. (FCEL) is +1.8 at $14.10, with 2,231,681 shares traded. FCEL's current last sale is 188% of the target price of $7.5.
Bed Bath & Beyond Inc. (BBBY) is -2.78 at $18.25, with 1,602,274 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Nov 2020. The consensus EPS forecast is $0.21. PR Newswire Reports: Bed Bath & Beyond Inc. Delivers Second Consecutive Quarter Of Comparable Sales And Profit Growth
NIO Inc. (NIO) is +2.35 at $52.85, with 1,578,971 shares traded. NIO's current last sale is 160.15% of the target price of $33.
Xunlei Limited (XNET) is +1.04 at $4.41, with 1,280,650 shares traded.
Apple Inc. (AAPL) is +1.88 at $128.48, with 1,228,820 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Aurora Cannabis Inc. (ACB) is +0.65 at $10.92, with 1,121,332 shares traded. ACB's current last sale is 118.82% of the target price of $9.19.
QuantumScape Corporation (QS) is +8.3101 at $71.34, with 968,372 shares traded. QS's current last sale is 254.79% of the target price of $28.
AMC Entertainment Holdings, Inc. (AMC) is +0.08 at $2.09, with 844,633 shares traded. AMC's current last sale is 59.71% of the target price of $3.5.
ProShares UltraPro Short QQQ (SQQQ) is -0.41 at $15.68, with 822,331 shares traded. This represents a 4.12% increase from its 52 Week Low.
Tilray, Inc. (TLRY) is +1.21 at $11.98, with 785,839 shares traded. TLRY's current last sale is 119.8% of the target price of $10.
DXC Technology Company (DXC) is +3.27 at $29.72, with 696,311 shares traded. DXC's current last sale is 116.55% of the target price of $25.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +0.65 at $10.92, with 1,121,332 shares traded. ACB's current last sale is 118.82% of the target price of $9.19. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Nov 2020. | Aurora Cannabis Inc. (ACB) is +0.65 at $10.92, with 1,121,332 shares traded. ACB's current last sale is 118.82% of the target price of $9.19. SOS Limited (SOS) is +1.67 at $3.39, with 6,947,022 shares traded. | Aurora Cannabis Inc. (ACB) is +0.65 at $10.92, with 1,121,332 shares traded. ACB's current last sale is 118.82% of the target price of $9.19. The total Pre-Market volume is currently 21,813,525 shares traded. | Aurora Cannabis Inc. (ACB) is +0.65 at $10.92, with 1,121,332 shares traded. ACB's current last sale is 118.82% of the target price of $9.19. The NASDAQ 100 Pre-Market Indicator is up 117.39 to 12,740.74. |
36984.0 | 2021-01-07 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Sos Ltd, Concord Medical, pot and solar stocks | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-sos-ltd-concord-medical-pot-and-solar-stocks-2021-01-07 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock index futures climbed on Thursday as expectations of more pandemic aid under a Democrat-controlled U.S. Congress lifted the mood ahead of jobs data, which is expected to show a rise in weekly claims..N
At 7:25 a.m. ET, Dow e-minis 1YMc1 were up 0.29% at 30,810. S&P 500 e-minis ESc1 were up 0.41% at 3,756, while Nasdaq 100 e-minis NQc1 were up 0.74% at 12,709.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 70.3% ** Jianpu Technology Inc , up 15.4% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Concord Medical Services Holdings Ltd , down 11.8% ** Covanta Holding Corp , down 8.3% ** China Unicom (Hong Kong)Ltd , down 8.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Future Fintech Group Inc , up 36.9% ** Xunlei Ltd , up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Addex Therapeutics Ltd , down 23.5% ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 17.6% ** SPAR Group Ltd SGRP.O: up 14.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 16.2% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.2% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.9% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 6.0% premarket ** Cronos Group CRON.O: up 5.4% premarket ** Hexo Corp HEXO.N: up 7.0% premarket ** Aurora Cannabis Inc ACB.N: up 9.2% premarket ** Tilray Inc TLRY.O: up 12.4% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Netflix Inc NFLX.O: up 0.8% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 4.6% premarket ** First Solar Inc FSLR.O: up 3.8% premarket ** Enphase Energy Inc ENPH.O: up 3.0% premarket ** Sunrun Inc RUN.O: up 3.1% premarket ** SunPower Corp SPWR.O: up 5.8% premarket
** NextEra Energy Inc NEE.N: up 0.9% premarket ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate
(Compiled by Amruta Khandekar in Bengaluru)
((Amruta.Khandekar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 70.3% ** Jianpu Technology Inc , up 15.4% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Concord Medical Services Holdings Ltd , down 11.8% ** Covanta Holding Corp , down 8.3% ** China Unicom (Hong Kong)Ltd , down 8.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Future Fintech Group Inc , up 36.9% ** Xunlei Ltd , up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Addex Therapeutics Ltd , down 23.5% ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 17.6% ** SPAR Group Ltd SGRP.O: up 14.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 16.2% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.2% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.9% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 6.0% premarket ** Cronos Group CRON.O: up 5.4% premarket ** Hexo Corp HEXO.N: up 7.0% premarket ** Aurora Cannabis Inc ACB.N: up 9.2% premarket ** Tilray Inc TLRY.O: up 12.4% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Netflix Inc NFLX.O: up 0.8% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 4.6% premarket ** First Solar Inc FSLR.O: up 3.8% premarket ** Enphase Energy Inc ENPH.O: up 3.0% premarket ** Sunrun Inc RUN.O: up 3.1% premarket ** SunPower Corp SPWR.O: up 5.8% premarket ** NextEra Energy Inc NEE.N: up 0.9% premarket ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures climbed on Thursday as expectations of more pandemic aid under a Democrat-controlled U.S. Congress lifted the mood ahead of jobs data, which is expected to show a rise in weekly claims..N At 7:25 a.m. ET, Dow e-minis 1YMc1 were up 0.29% at 30,810. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 70.3% ** Jianpu Technology Inc , up 15.4% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Concord Medical Services Holdings Ltd , down 11.8% ** Covanta Holding Corp , down 8.3% ** China Unicom (Hong Kong)Ltd , down 8.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Future Fintech Group Inc , up 36.9% ** Xunlei Ltd , up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Addex Therapeutics Ltd , down 23.5% ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 17.6% ** SPAR Group Ltd SGRP.O: up 14.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 16.2% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.2% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.9% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 6.0% premarket ** Cronos Group CRON.O: up 5.4% premarket ** Hexo Corp HEXO.N: up 7.0% premarket ** Aurora Cannabis Inc ACB.N: up 9.2% premarket ** Tilray Inc TLRY.O: up 12.4% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Netflix Inc NFLX.O: up 0.8% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 4.6% premarket ** First Solar Inc FSLR.O: up 3.8% premarket ** Enphase Energy Inc ENPH.O: up 3.0% premarket ** Sunrun Inc RUN.O: up 3.1% premarket ** SunPower Corp SPWR.O: up 5.8% premarket ** NextEra Energy Inc NEE.N: up 0.9% premarket ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures climbed on Thursday as expectations of more pandemic aid under a Democrat-controlled U.S. Congress lifted the mood ahead of jobs data, which is expected to show a rise in weekly claims..N At 7:25 a.m. S&P 500 e-minis ESc1 were up 0.41% at 3,756, while Nasdaq 100 e-minis NQc1 were up 0.74% at 12,709.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 70.3% ** Jianpu Technology Inc , up 15.4% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Concord Medical Services Holdings Ltd , down 11.8% ** Covanta Holding Corp , down 8.3% ** China Unicom (Hong Kong)Ltd , down 8.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Future Fintech Group Inc , up 36.9% ** Xunlei Ltd , up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Addex Therapeutics Ltd , down 23.5% ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 17.6% ** SPAR Group Ltd SGRP.O: up 14.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 16.2% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.2% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.9% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 6.0% premarket ** Cronos Group CRON.O: up 5.4% premarket ** Hexo Corp HEXO.N: up 7.0% premarket ** Aurora Cannabis Inc ACB.N: up 9.2% premarket ** Tilray Inc TLRY.O: up 12.4% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Netflix Inc NFLX.O: up 0.8% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 4.6% premarket ** First Solar Inc FSLR.O: up 3.8% premarket ** Enphase Energy Inc ENPH.O: up 3.0% premarket ** Sunrun Inc RUN.O: up 3.1% premarket ** SunPower Corp SPWR.O: up 5.8% premarket ** NextEra Energy Inc NEE.N: up 0.9% premarket ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures climbed on Thursday as expectations of more pandemic aid under a Democrat-controlled U.S. Congress lifted the mood ahead of jobs data, which is expected to show a rise in weekly claims..N At 7:25 a.m. S&P 500 e-minis ESc1 were up 0.41% at 3,756, while Nasdaq 100 e-minis NQc1 were up 0.74% at 12,709.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sos Ltd , up 70.3% ** Jianpu Technology Inc , up 15.4% ** Maui Land & Pineapple Company Inc , up 14.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Concord Medical Services Holdings Ltd , down 11.8% ** Covanta Holding Corp , down 8.3% ** China Unicom (Hong Kong)Ltd , down 8.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Future Fintech Group Inc , up 36.9% ** Xunlei Ltd , up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** Addex Therapeutics Ltd , down 23.5% ** XTL Biopharmaceuticals Ltd , down 21.3% ** Urban One Inc , down 17.6% ** SPAR Group Ltd SGRP.O: up 14.8% premarket BUZZ-Rises on share repurchase program ** CureVac NV CVAC.O: up 16.2% premarket BUZZ-Jumps on alliance with Bayer for COVID-19 vaccine ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Tesla set for record open on rating upgrade, Fitch optimism on China demand ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Jumps on joint venture to finance Europe solar projects ** Plug Power Inc PLUG.O: up 24.2% premarket BUZZ-Soars on SK Group's $1.5 bln investment plans ** Sundial Growers Inc SNDL.O: up 5.9% premarket ** Canopy Growth Corp CGC.O: up 4.4% premarket ** Aphria Inc APHA.O: up 6.0% premarket ** Cronos Group CRON.O: up 5.4% premarket ** Hexo Corp HEXO.N: up 7.0% premarket ** Aurora Cannabis Inc ACB.N: up 9.2% premarket ** Tilray Inc TLRY.O: up 12.4% premarket BUZZ-Pot stocks on a high as Democrats take Senate control ** Netflix Inc NFLX.O: up 0.8% premarket BUZZ-Cowen raises PT ahead of Q4 earnings ** Solaredge Technologies Inc SEDG.O: up 2.8% premarket ** Canadian Solar Inc CSIQ.O: up 4.6% premarket ** First Solar Inc FSLR.O: up 3.8% premarket ** Enphase Energy Inc ENPH.O: up 3.0% premarket ** Sunrun Inc RUN.O: up 3.1% premarket ** SunPower Corp SPWR.O: up 5.8% premarket ** NextEra Energy Inc NEE.N: up 0.9% premarket ** ReneSola Ltd SOL.N: up 14.0% premarket BUZZ-Solar cos gain as Democrats take control of U.S. Senate (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures climbed on Thursday as expectations of more pandemic aid under a Democrat-controlled U.S. Congress lifted the mood ahead of jobs data, which is expected to show a rise in weekly claims..N At 7:25 a.m. ET, Dow e-minis 1YMc1 were up 0.29% at 30,810. |
36985.0 | 2021-01-07 00:00:00 UTC | Is Aurora Cannabis Stock a Buy? | ACB | https://www.nasdaq.com/articles/is-aurora-cannabis-stock-a-buy-2021-01-07 | nan | nan | Timing is of the essence when it comes to investing in shares of Aurora Cannabis (NYSE: ACB). If you had bought the stock a year ago, that investment would have led to a 63% loss. However, if you'd opened a position before five new state-level legalizations during the 2020 elections, your principal could be up nearly 90%.
At first glance, Aurora does not appear to be the type of cannabis company that is on the road to recovery. Over the past year, Aurora had to sell more of its stock to stay afloat. The result was a stunning 89% increase in shares outstanding to 183.7 million. Despite all this, I think the company may finally reverse its fortunes this year.
Image source: Getty Images.
A downsizing streak
During its 2020 fiscal year (ended June 30), Aurora's core business took a devastating blow, registering 3.3 billion Canadian dollars in net losses. During the span of 2017 to 2019, the company invested billions of dollars in state-of-the-art facilities to become the pot producer with the largest production volume in Canada.
The only problem? There was never that much consumer demand in the first place, largely due to the black market being more resilient than legal sellers first anticipated. Last year, Aurora projected that it would be able to cultivate over 500,000 kg of dried cannabis by mid-2020 and post a lucrative profit. In reality, the company only ended up selling about 16,000 kilograms of dried cannabis per quarter.
Facing steep operating losses, Aurora had to cut back its newly built cultivation sites, resulting in hefty writedowns and impairments. The troubled pot grower also paid substantial premiums for competitors that did not perform as expected. In early 2018, it paid CA$3.2 billion to acquire MedReleaf, a company that brought in only CA$43.6 million in sales per year.
Last February, Aurora laid off over 500 employees to restructure its spending. In June, it ended up cutting its sales, general, and administrative (SG&A) staff by 25% and its production staff by 30% while closing down five production sites. On Nov. 30, the company announced it was letting go an additional 30 workers and shutting its Aurora Sun greenhouse. Aurora previously designed the site to grow over 230,000 kg of cannabis per year.
That's not all; the company laid off another 200 employees on Dec. 16 and reduced production capacity at its Aurora Sky facility by 75% to 25,000 kg per year. Overall, 2020 has been anything but good for Aurora's bottom line and far worse for investors. Nevertheless, the major downsizing efforts are paying off -- and should give investors some optimism.
Light at the end of the tunnel
But after all this, now may actually be the best time for investors to start a position in Aurora. After all the aggressive cost-cutting initiatives, the company has scaled down its cultivation to about 67,500 kg per year, which is much more in-line with market demand.
During the first fiscal quarter of year 2021 (ended Sept. 30), Aurora managed to bring down its operating losses to CA$42.3 million from CA$77.8 million a year ago. The company's capital expenditures fell dramatically during the same period, from CA$106.8 million to CA$15.8 million.
Aurora's revenue has been mostly underperforming as the average selling price of cannabis has declined to CA$4.58 per gram from CA$5.68 per gram. There is no doubt that the Canadian market is becoming more and more saturated, and as a result, more competitive. Aurora's revenue decreased by 8% year over year to CA$67.8 million in Q1 2021.
The company, however, has another shot at a return to growth with its new U.S. expansion plan. Back in May 2020, Aurora acquired cannabidiol (CBD) company Reliva LLC for $40 million. Reliva's CBD brands are among the top two in the U.S. (the other belongs to Charlotte's Web) and brings in approximately $10 million per year in revenue. Due to widespread support for the decriminalization or full legalization of cannabis on the federal level, the U.S. CBD market may scale to $12.3 billion in 2022, from about $5.1 billion in 2019.
Why now is the time to buy
Aurora currently has CA$450 million cash on hand, which is about equal to its debt obligations. Besides that, the stock is only trading for about 4.3 times revenue and 0.9 times net assets. As long as the company continues to balance its Canadian business and focuses on pushing market share in the U.S., I think it is only a matter of time before it returns to growth. If you have waited to buy Aurora Cannabis stock on the dip, make it part of your portfolio in 2021.
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Zhiyuan Sun owns shares of Charlotte's Web. The Motley Fool recommends Charlotte's Web. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Timing is of the essence when it comes to investing in shares of Aurora Cannabis (NYSE: ACB). A downsizing streak During its 2020 fiscal year (ended June 30), Aurora's core business took a devastating blow, registering 3.3 billion Canadian dollars in net losses. Facing steep operating losses, Aurora had to cut back its newly built cultivation sites, resulting in hefty writedowns and impairments. | Timing is of the essence when it comes to investing in shares of Aurora Cannabis (NYSE: ACB). A downsizing streak During its 2020 fiscal year (ended June 30), Aurora's core business took a devastating blow, registering 3.3 billion Canadian dollars in net losses. Facing steep operating losses, Aurora had to cut back its newly built cultivation sites, resulting in hefty writedowns and impairments. | Timing is of the essence when it comes to investing in shares of Aurora Cannabis (NYSE: ACB). In early 2018, it paid CA$3.2 billion to acquire MedReleaf, a company that brought in only CA$43.6 million in sales per year. During the first fiscal quarter of year 2021 (ended Sept. 30), Aurora managed to bring down its operating losses to CA$42.3 million from CA$77.8 million a year ago. | Timing is of the essence when it comes to investing in shares of Aurora Cannabis (NYSE: ACB). That's not all; the company laid off another 200 employees on Dec. 16 and reduced production capacity at its Aurora Sky facility by 75% to 25,000 kg per year. During the first fiscal quarter of year 2021 (ended Sept. 30), Aurora managed to bring down its operating losses to CA$42.3 million from CA$77.8 million a year ago. |
36986.0 | 2021-01-06 00:00:00 UTC | CANADA STOCKS - TSX rises 0.62% to 17,792.83 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.62-to-17792.83-2021-01-06 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.62 percent to 17,792.83
* Leading the index were Cronos Group Inc , up 14.6%, Aphria Inc APHA.TO, up 12%, and Canopy Growth Corp WEED.TO, higher by 11.4%.
* Lagging shares were Osisko Mining Inc OSK.TO, down 5.2%, Kinaxis Inc KXS.TO, down 3.9%, and Toromont Industries Ltd TIH.TO, lower by 3.4%.
* On the TSX 137 issues rose and 81 fell as a 1.7-to-1 ratio favored advancers. There were 26 new highs and no new lows, with total volume of 227.2 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Cenovus Energy Inc CVE.TO and Aphria Inc APHA.TO.
* The TSX's energy group .SPTTEN rose 0.88 points, or 0.9%, while the financials sector .SPTTFS climbed 5.13 points, or 1.7%.
* West Texas Intermediate crude futures CLc1 rose 0.9%, or $0.45, to $50.38 a barrel. Brent crude LCOc1 rose 0.8%, or $0.43, to $54.03 O/R
* The TSX is up 2.1% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Cenovus Energy Inc CVE.TO and Aphria Inc APHA.TO. * The Toronto Stock Exchange's TSX rises 0.62 percent to 17,792.83 * Leading the index were Cronos Group Inc , up 14.6%, Aphria Inc APHA.TO, up 12%, and Canopy Growth Corp WEED.TO, higher by 11.4%. * Lagging shares were Osisko Mining Inc OSK.TO, down 5.2%, Kinaxis Inc KXS.TO, down 3.9%, and Toromont Industries Ltd TIH.TO, lower by 3.4%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Cenovus Energy Inc CVE.TO and Aphria Inc APHA.TO. * On the TSX 137 issues rose and 81 fell as a 1.7-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN rose 0.88 points, or 0.9%, while the financials sector .SPTTFS climbed 5.13 points, or 1.7%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Cenovus Energy Inc CVE.TO and Aphria Inc APHA.TO. * The Toronto Stock Exchange's TSX rises 0.62 percent to 17,792.83 * Leading the index were Cronos Group Inc , up 14.6%, Aphria Inc APHA.TO, up 12%, and Canopy Growth Corp WEED.TO, higher by 11.4%. * The TSX's energy group .SPTTEN rose 0.88 points, or 0.9%, while the financials sector .SPTTFS climbed 5.13 points, or 1.7%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Cenovus Energy Inc CVE.TO and Aphria Inc APHA.TO. * The Toronto Stock Exchange's TSX rises 0.62 percent to 17,792.83 * Leading the index were Cronos Group Inc , up 14.6%, Aphria Inc APHA.TO, up 12%, and Canopy Growth Corp WEED.TO, higher by 11.4%. * Lagging shares were Osisko Mining Inc OSK.TO, down 5.2%, Kinaxis Inc KXS.TO, down 3.9%, and Toromont Industries Ltd TIH.TO, lower by 3.4%. |
36987.0 | 2021-01-06 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Imara Inc, DraftKings Inc, 500.Com Ltd | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-imara-inc-draftkings-inc-500.com-ltd-2021-01-06 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
The Dow and the S&P 500 rose on Wednesday, with investors piling into economy-linked financial and industrial stocks on bets that a Democrat-controlled Senate would lead to more fiscal stimulus and infrastructure spending. .N
At 11:09 a.m. ET, the Dow Jones Industrial Average .DJI was up 1.69% at 30,903.87. The S&P 500 .SPX was up 1.11% at 3,768.05 and the Nasdaq Composite .IXIC was up 0.21% at 12,846.342. The top three S&P 500 .PG.INX percentage gainers: ** Zions Bancorporation NA , up 12.2% ** United Rentals Inc , up 10.1% ** Comerica Inc , up 10% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4.2% ** Verisign Inc , down 3.3% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** 500.Com Ltd , up 17.6% ** 22nd Century Group Inc , up 16.5% The top NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 29.3% ** Mesa Royalty Trust MTR.N, down 7.7% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 41.1%
** TAT Technologies Ltd TATT.O, up 40.2% The top Nasdaq .PL.O percentage losers: ** Imara Inc , down 34.6% ** PAVmed Inc , down 12.2% ** My Size Inc MYSZ.O: down 19.5%
BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 7.5%
BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 40.2%
BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 12.0% ** Canopy Growth Corp CGC.N: up 14.3% ** Aphria Inc APHA.O: up 9.4%
** Cronos Group Inc CRON.O: up 11.8% ** Hexo Corp HEXO.N: up 12.5% ** Aurora Cannabis Inc ACB.N: up 9.4% ** Tilray Inc TLRY.O: up 13.7%
BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.2%
BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.5%
BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 3.5% ** Exxon Mobil Corp XOM.N: up 2.8% ** SM Energy Co SM.N: up 3.3% ** Hess Corp HES.N: up 4.6% ** Apache Corp APA.O: up 3.3% ** Schlumberger NV SLB.N: up 6.2% ** TechnipFMC PLC FTI.N: up 4.0%
BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 4.5%
BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 1.5%
BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 7.7% ** Canadian Solar Inc CSIQ.O: up 7.5% ** First Solar Inc FSLR.O: up 7.9% ** Enphase Energy Inc ENPH.O: up 10.5% ** Sunrun Inc RUN.O: up 10.6% ** SunPower Corp SPWR.O: up 16.4% ** Plug Power Inc PLUG.O: up 7.4% ** Clean Energy Fuels Corp CLNE.O: up 4.9%
BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.6%
BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 4.5%
BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** JPMorgan Chase & Co JPM.N: up 4.8% ** Bank of America Corp BAC.N: up 7.2% ** Wells Fargo & Co WFC.N: up 7.6% ** Goldman Sachs Group Inc GS.N: up 5.5% ** Morgan Stanley MS.N: up 6.5% ** Citigroup Inc C.N: up 6.9%
BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 10.0%
BUZZ-Falls on $12 mln direct stock offering ** Apple Inc AAPL.O: down 0.9%
** Microsoft Corp MSFT.O: down 1.0% ** Alphabet Inc GOOGL.O: down 0.6% ** Facebook Inc FB.O: down 1.4%
BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** RedHill Biopharma Ltd RDHL.O: up 1.8%
BUZZ-Up on fast track status for lung disease treatment ** AIM ImmunoTech Inc AIM.N: up 1.6%
BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 47.8%
BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 4.1%
BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit ** China Mobile Ltd CHL.N: down 2.7% ** China Unicom Hong Kong Ltd CHU.N: down 2.4% ** China Telecom Corp Ltd CHA.N: down 3.6%
BUZZ-Chinese telecom stocks fall after NYSE pushes forward with delisting ** 3M Co MMM.N: up 2.0% ** Caterpillar Inc CAT.N: up 6.4% ** Honeywell International Inc HON.N: up 2.4% ** General Electric Co GE.N: up 7.3%
BUZZ-U.S. industrials rally on prospects of Blue Senate ** NeuroBo Pharmaceuticals Inc NRBO.O: up 19.0%
BUZZ-Rises on acquiring firm developing COVID-19 treatment ** Genetron Holdings Ltd GTH.O: up 20.6%
BUZZ-Up on deal for liver cancer test in China ** Oceaneering International Inc OII.N: up 7.8%
BUZZ-Up after $250 mln worth of contract wins ** DraftKings Inc DKNG.O: up 6.3%
BUZZ-Rises on report NY governor to support online sports betting
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.22%
Consumer Discretionary
.SPLRCD
up 1.09%
Consumer Staples
.SPLRCS
up 0.34%
Energy
.SPNY
up 3.28%
Financial
.SPSY
up 4.54%
Health
.SPXHC
up 0.98%
Industrial
.SPLRCI
up 2.69%
Information Technology
.SPLRCT
down 0.32%
Materials
.SPLRCM
up 3.60%
Real Estate
.SPLRCR
down 0.43%
Utilities
.SPLRCU
up 2.26%
(Compiled by Amruta Khandekar in Bengaluru)
((Amruta.Khandekar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Zions Bancorporation NA , up 12.2% ** United Rentals Inc , up 10.1% ** Comerica Inc , up 10% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4.2% ** Verisign Inc , down 3.3% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** 500.Com Ltd , up 17.6% ** 22nd Century Group Inc , up 16.5% The top NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 29.3% ** Mesa Royalty Trust MTR.N, down 7.7% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 41.1% ** TAT Technologies Ltd TATT.O, up 40.2% The top Nasdaq .PL.O percentage losers: ** Imara Inc , down 34.6% ** PAVmed Inc , down 12.2% ** My Size Inc MYSZ.O: down 19.5% BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 7.5% BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 40.2% BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 12.0% ** Canopy Growth Corp CGC.N: up 14.3% ** Aphria Inc APHA.O: up 9.4% ** Cronos Group Inc CRON.O: up 11.8% ** Hexo Corp HEXO.N: up 12.5% ** Aurora Cannabis Inc ACB.N: up 9.4% ** Tilray Inc TLRY.O: up 13.7% BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.5% BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 3.5% ** Exxon Mobil Corp XOM.N: up 2.8% ** SM Energy Co SM.N: up 3.3% ** Hess Corp HES.N: up 4.6% ** Apache Corp APA.O: up 3.3% ** Schlumberger NV SLB.N: up 6.2% ** TechnipFMC PLC FTI.N: up 4.0% BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 4.5% BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 1.5% BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 7.7% ** Canadian Solar Inc CSIQ.O: up 7.5% ** First Solar Inc FSLR.O: up 7.9% ** Enphase Energy Inc ENPH.O: up 10.5% ** Sunrun Inc RUN.O: up 10.6% ** SunPower Corp SPWR.O: up 16.4% ** Plug Power Inc PLUG.O: up 7.4% ** Clean Energy Fuels Corp CLNE.O: up 4.9% BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.6% BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 4.5% BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** JPMorgan Chase & Co JPM.N: up 4.8% ** Bank of America Corp BAC.N: up 7.2% ** Wells Fargo & Co WFC.N: up 7.6% ** Goldman Sachs Group Inc GS.N: up 5.5% ** Morgan Stanley MS.N: up 6.5% ** Citigroup Inc C.N: up 6.9% BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 10.0% BUZZ-Falls on $12 mln direct stock offering ** Apple Inc AAPL.O: down 0.9% ** Microsoft Corp MSFT.O: down 1.0% ** Alphabet Inc GOOGL.O: down 0.6% ** Facebook Inc FB.O: down 1.4% BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** RedHill Biopharma Ltd RDHL.O: up 1.8% BUZZ-Up on fast track status for lung disease treatment ** AIM ImmunoTech Inc AIM.N: up 1.6% BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 47.8% BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 4.1% BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit ** China Mobile Ltd CHL.N: down 2.7% ** China Unicom Hong Kong Ltd CHU.N: down 2.4% ** China Telecom Corp Ltd CHA.N: down 3.6% BUZZ-Chinese telecom stocks fall after NYSE pushes forward with delisting ** 3M Co MMM.N: up 2.0% ** Caterpillar Inc CAT.N: up 6.4% ** Honeywell International Inc HON.N: up 2.4% ** General Electric Co GE.N: up 7.3% BUZZ-U.S. industrials rally on prospects of Blue Senate ** NeuroBo Pharmaceuticals Inc NRBO.O: up 19.0% BUZZ-Rises on acquiring firm developing COVID-19 treatment ** Genetron Holdings Ltd GTH.O: up 20.6% BUZZ-Up on deal for liver cancer test in China ** Oceaneering International Inc OII.N: up 7.8% BUZZ-Up after $250 mln worth of contract wins ** DraftKings Inc DKNG.O: up 6.3% BUZZ-Rises on report NY governor to support online sports betting The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The Dow and the S&P 500 rose on Wednesday, with investors piling into economy-linked financial and industrial stocks on bets that a Democrat-controlled Senate would lead to more fiscal stimulus and infrastructure spending. up 2.26% (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Zions Bancorporation NA , up 12.2% ** United Rentals Inc , up 10.1% ** Comerica Inc , up 10% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4.2% ** Verisign Inc , down 3.3% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** 500.Com Ltd , up 17.6% ** 22nd Century Group Inc , up 16.5% The top NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 29.3% ** Mesa Royalty Trust MTR.N, down 7.7% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 41.1% ** TAT Technologies Ltd TATT.O, up 40.2% The top Nasdaq .PL.O percentage losers: ** Imara Inc , down 34.6% ** PAVmed Inc , down 12.2% ** My Size Inc MYSZ.O: down 19.5% BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 7.5% BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 40.2% BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 12.0% ** Canopy Growth Corp CGC.N: up 14.3% ** Aphria Inc APHA.O: up 9.4% ** Cronos Group Inc CRON.O: up 11.8% ** Hexo Corp HEXO.N: up 12.5% ** Aurora Cannabis Inc ACB.N: up 9.4% ** Tilray Inc TLRY.O: up 13.7% BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.5% BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 3.5% ** Exxon Mobil Corp XOM.N: up 2.8% ** SM Energy Co SM.N: up 3.3% ** Hess Corp HES.N: up 4.6% ** Apache Corp APA.O: up 3.3% ** Schlumberger NV SLB.N: up 6.2% ** TechnipFMC PLC FTI.N: up 4.0% BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 4.5% BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 1.5% BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 7.7% ** Canadian Solar Inc CSIQ.O: up 7.5% ** First Solar Inc FSLR.O: up 7.9% ** Enphase Energy Inc ENPH.O: up 10.5% ** Sunrun Inc RUN.O: up 10.6% ** SunPower Corp SPWR.O: up 16.4% ** Plug Power Inc PLUG.O: up 7.4% ** Clean Energy Fuels Corp CLNE.O: up 4.9% BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.6% BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 4.5% BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** JPMorgan Chase & Co JPM.N: up 4.8% ** Bank of America Corp BAC.N: up 7.2% ** Wells Fargo & Co WFC.N: up 7.6% ** Goldman Sachs Group Inc GS.N: up 5.5% ** Morgan Stanley MS.N: up 6.5% ** Citigroup Inc C.N: up 6.9% BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 10.0% BUZZ-Falls on $12 mln direct stock offering ** Apple Inc AAPL.O: down 0.9% ** Microsoft Corp MSFT.O: down 1.0% ** Alphabet Inc GOOGL.O: down 0.6% ** Facebook Inc FB.O: down 1.4% BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** RedHill Biopharma Ltd RDHL.O: up 1.8% BUZZ-Up on fast track status for lung disease treatment ** AIM ImmunoTech Inc AIM.N: up 1.6% BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 47.8% BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 4.1% BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit ** China Mobile Ltd CHL.N: down 2.7% ** China Unicom Hong Kong Ltd CHU.N: down 2.4% ** China Telecom Corp Ltd CHA.N: down 3.6% BUZZ-Chinese telecom stocks fall after NYSE pushes forward with delisting ** 3M Co MMM.N: up 2.0% ** Caterpillar Inc CAT.N: up 6.4% ** Honeywell International Inc HON.N: up 2.4% ** General Electric Co GE.N: up 7.3% BUZZ-U.S. industrials rally on prospects of Blue Senate ** NeuroBo Pharmaceuticals Inc NRBO.O: up 19.0% BUZZ-Rises on acquiring firm developing COVID-19 treatment ** Genetron Holdings Ltd GTH.O: up 20.6% BUZZ-Up on deal for liver cancer test in China ** Oceaneering International Inc OII.N: up 7.8% BUZZ-Up after $250 mln worth of contract wins ** DraftKings Inc DKNG.O: up 6.3% BUZZ-Rises on report NY governor to support online sports betting The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The Dow and the S&P 500 rose on Wednesday, with investors piling into economy-linked financial and industrial stocks on bets that a Democrat-controlled Senate would lead to more fiscal stimulus and infrastructure spending. up 3.60% Real Estate | The top three S&P 500 .PG.INX percentage gainers: ** Zions Bancorporation NA , up 12.2% ** United Rentals Inc , up 10.1% ** Comerica Inc , up 10% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4.2% ** Verisign Inc , down 3.3% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** 500.Com Ltd , up 17.6% ** 22nd Century Group Inc , up 16.5% The top NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 29.3% ** Mesa Royalty Trust MTR.N, down 7.7% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 41.1% ** TAT Technologies Ltd TATT.O, up 40.2% The top Nasdaq .PL.O percentage losers: ** Imara Inc , down 34.6% ** PAVmed Inc , down 12.2% ** My Size Inc MYSZ.O: down 19.5% BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 7.5% BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 40.2% BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 12.0% ** Canopy Growth Corp CGC.N: up 14.3% ** Aphria Inc APHA.O: up 9.4% ** Cronos Group Inc CRON.O: up 11.8% ** Hexo Corp HEXO.N: up 12.5% ** Aurora Cannabis Inc ACB.N: up 9.4% ** Tilray Inc TLRY.O: up 13.7% BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.5% BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 3.5% ** Exxon Mobil Corp XOM.N: up 2.8% ** SM Energy Co SM.N: up 3.3% ** Hess Corp HES.N: up 4.6% ** Apache Corp APA.O: up 3.3% ** Schlumberger NV SLB.N: up 6.2% ** TechnipFMC PLC FTI.N: up 4.0% BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 4.5% BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 1.5% BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 7.7% ** Canadian Solar Inc CSIQ.O: up 7.5% ** First Solar Inc FSLR.O: up 7.9% ** Enphase Energy Inc ENPH.O: up 10.5% ** Sunrun Inc RUN.O: up 10.6% ** SunPower Corp SPWR.O: up 16.4% ** Plug Power Inc PLUG.O: up 7.4% ** Clean Energy Fuels Corp CLNE.O: up 4.9% BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.6% BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 4.5% BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** JPMorgan Chase & Co JPM.N: up 4.8% ** Bank of America Corp BAC.N: up 7.2% ** Wells Fargo & Co WFC.N: up 7.6% ** Goldman Sachs Group Inc GS.N: up 5.5% ** Morgan Stanley MS.N: up 6.5% ** Citigroup Inc C.N: up 6.9% BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 10.0% BUZZ-Falls on $12 mln direct stock offering ** Apple Inc AAPL.O: down 0.9% ** Microsoft Corp MSFT.O: down 1.0% ** Alphabet Inc GOOGL.O: down 0.6% ** Facebook Inc FB.O: down 1.4% BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** RedHill Biopharma Ltd RDHL.O: up 1.8% BUZZ-Up on fast track status for lung disease treatment ** AIM ImmunoTech Inc AIM.N: up 1.6% BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 47.8% BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 4.1% BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit ** China Mobile Ltd CHL.N: down 2.7% ** China Unicom Hong Kong Ltd CHU.N: down 2.4% ** China Telecom Corp Ltd CHA.N: down 3.6% BUZZ-Chinese telecom stocks fall after NYSE pushes forward with delisting ** 3M Co MMM.N: up 2.0% ** Caterpillar Inc CAT.N: up 6.4% ** Honeywell International Inc HON.N: up 2.4% ** General Electric Co GE.N: up 7.3% BUZZ-U.S. industrials rally on prospects of Blue Senate ** NeuroBo Pharmaceuticals Inc NRBO.O: up 19.0% BUZZ-Rises on acquiring firm developing COVID-19 treatment ** Genetron Holdings Ltd GTH.O: up 20.6% BUZZ-Up on deal for liver cancer test in China ** Oceaneering International Inc OII.N: up 7.8% BUZZ-Up after $250 mln worth of contract wins ** DraftKings Inc DKNG.O: up 6.3% BUZZ-Rises on report NY governor to support online sports betting The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The Dow and the S&P 500 rose on Wednesday, with investors piling into economy-linked financial and industrial stocks on bets that a Democrat-controlled Senate would lead to more fiscal stimulus and infrastructure spending. down 0.22% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** Zions Bancorporation NA , up 12.2% ** United Rentals Inc , up 10.1% ** Comerica Inc , up 10% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4.2% ** Verisign Inc , down 3.3% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** 500.Com Ltd , up 17.6% ** 22nd Century Group Inc , up 16.5% The top NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 29.3% ** Mesa Royalty Trust MTR.N, down 7.7% The top Nasdaq .PG.O percentage gainers: ** The9 Limited , up 41.1% ** TAT Technologies Ltd TATT.O, up 40.2% The top Nasdaq .PL.O percentage losers: ** Imara Inc , down 34.6% ** PAVmed Inc , down 12.2% ** My Size Inc MYSZ.O: down 19.5% BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 7.5% BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 40.2% BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 12.0% ** Canopy Growth Corp CGC.N: up 14.3% ** Aphria Inc APHA.O: up 9.4% ** Cronos Group Inc CRON.O: up 11.8% ** Hexo Corp HEXO.N: up 12.5% ** Aurora Cannabis Inc ACB.N: up 9.4% ** Tilray Inc TLRY.O: up 13.7% BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.5% BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 3.5% ** Exxon Mobil Corp XOM.N: up 2.8% ** SM Energy Co SM.N: up 3.3% ** Hess Corp HES.N: up 4.6% ** Apache Corp APA.O: up 3.3% ** Schlumberger NV SLB.N: up 6.2% ** TechnipFMC PLC FTI.N: up 4.0% BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 4.5% BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 1.5% BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 7.7% ** Canadian Solar Inc CSIQ.O: up 7.5% ** First Solar Inc FSLR.O: up 7.9% ** Enphase Energy Inc ENPH.O: up 10.5% ** Sunrun Inc RUN.O: up 10.6% ** SunPower Corp SPWR.O: up 16.4% ** Plug Power Inc PLUG.O: up 7.4% ** Clean Energy Fuels Corp CLNE.O: up 4.9% BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.6% BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 4.5% BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** JPMorgan Chase & Co JPM.N: up 4.8% ** Bank of America Corp BAC.N: up 7.2% ** Wells Fargo & Co WFC.N: up 7.6% ** Goldman Sachs Group Inc GS.N: up 5.5% ** Morgan Stanley MS.N: up 6.5% ** Citigroup Inc C.N: up 6.9% BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 10.0% BUZZ-Falls on $12 mln direct stock offering ** Apple Inc AAPL.O: down 0.9% ** Microsoft Corp MSFT.O: down 1.0% ** Alphabet Inc GOOGL.O: down 0.6% ** Facebook Inc FB.O: down 1.4% BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** RedHill Biopharma Ltd RDHL.O: up 1.8% BUZZ-Up on fast track status for lung disease treatment ** AIM ImmunoTech Inc AIM.N: up 1.6% BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 47.8% BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 4.1% BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit ** China Mobile Ltd CHL.N: down 2.7% ** China Unicom Hong Kong Ltd CHU.N: down 2.4% ** China Telecom Corp Ltd CHA.N: down 3.6% BUZZ-Chinese telecom stocks fall after NYSE pushes forward with delisting ** 3M Co MMM.N: up 2.0% ** Caterpillar Inc CAT.N: up 6.4% ** Honeywell International Inc HON.N: up 2.4% ** General Electric Co GE.N: up 7.3% BUZZ-U.S. industrials rally on prospects of Blue Senate ** NeuroBo Pharmaceuticals Inc NRBO.O: up 19.0% BUZZ-Rises on acquiring firm developing COVID-19 treatment ** Genetron Holdings Ltd GTH.O: up 20.6% BUZZ-Up on deal for liver cancer test in China ** Oceaneering International Inc OII.N: up 7.8% BUZZ-Up after $250 mln worth of contract wins ** DraftKings Inc DKNG.O: up 6.3% BUZZ-Rises on report NY governor to support online sports betting The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The Dow and the S&P 500 rose on Wednesday, with investors piling into economy-linked financial and industrial stocks on bets that a Democrat-controlled Senate would lead to more fiscal stimulus and infrastructure spending. ET, the Dow Jones Industrial Average .DJI was up 1.69% at 30,903.87. |
36988.0 | 2021-01-06 00:00:00 UTC | 4 Top Stock Trades for Thursday: BABA, TAN, IWM, ACB | ACB | https://www.nasdaq.com/articles/4-top-stock-trades-for-thursday%3A-baba-tan-iwm-acb-2021-01-06 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
As chaos ensues in Washington and as we wrap up the Senate vote in Georgia, the market is mixed as we head into Thursday. That said, let’s look at a few top stock trades.
Top Stock Trades for Tomorrow No. 1: Alibaba (BABA)
Click to Enlarge
Source: Chart courtesy of TrendSpider
Concerns linger on Alibaba (NYSE:BABA) and whether the stock will be delisted by the NYSE, causing shares to slip lower on the day.
The stock previously caught a nice bounce off the $211 area. That bounced fizzled out north of $240 as shares again turned lower. Should Alibaba lose $225, it could open up another test of the $211 area.
There Alibaba finds the December low, 100-week moving average and 161.8% extension of the recent dip.
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If that level fails, it could put the $188 to $196 area on the table, where the stock will find VWAP support and the 200-week moving average. The 50-month moving average also comes into play near $183 at the moment.
Top Stock Trades for Tomorrow No. 2: Invesco Solar ETF (TAN)
Click to Enlarge
Source: Chart courtesy of TrendSpider
The Invesco Solar ETF (NYSEARCA:TAN) has been raging higher. It’s working on its 10th-consecutive month of gains, and ended Wednesday up nearly 9% alone.
Let’s try to keep this one simple, because entering now would force bulls to adapt a very wide risk range. Meaning shares could give up a lot of ground and still be in a healthy state.
If TAN takes out Wednesday’s high at $119.27, then look for a push to the 261.8% extension at $123.32.
If it loses today’s low at $111.70, then let’s see if $108 and the 10-day moving average can support it. However, if not, true trend support could be on the table at the 10-week moving average, followed by the 50-day moving average.
Top Stock Trades for Tomorrow No. 3: Small Caps (IWM)
Click to Enlarge
Source: Chart courtesy of TrendSpider
Obviously, Wednesday has been a wild day with what’s happening in Washington D.C.
However, small caps held up well all day. And despite the news, the Russell 2000 ended the day up about 4%.
The iShares Russell 2000 ETF (NYSEARCA:IWM) gapped up and hit new all-time highs on the day. Like the rest of the market though, it has backed off those highs by the close.
Keep an eye on $199. If it loses this mark, a return to the 21-day moving average is likely. Below that, and the $185 to $188 area is on the table.
If it can take out this weeks’ high, look for an eventual push to the 161.8% extension.
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Over the last three months, the Russell is up 30%. The next best performer is the Nasdaq Composite, up 13%. The Russell is the clear relative strength leader, so keep that in mind moving forward.
Top Trades for Tomorrow No. 4: Aurora Cannabis (ACB)
Click to Enlarge
Source: Chart courtesy of TrendSpider
Aurora Cannabis (NYSE:ACB) and the rest of the cannabis space caught a big boost on Wednesday. However, the stock is struggling to hold onto its gains.
ACB stock gapped up, opening over $11 per share. While it cleared the 50-week moving average initially, it did not close above it. So now, investors must be on the lookout for a test of the $9.50 area.
There it will find the 10-day, 21-day and 200-day moving averages, as well as VWAP support. A break below puts the December low in play near $8.20.
If ACB stock can reclaim the 50-week moving average and take out Wednesday’s high, it puts the December high in play at $12.19 — followed by the November high near $14.50.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
The post 4 Top Stock Trades for Thursday: BABA, TAN, IWM, ACB appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The post 4 Top Stock Trades for Thursday: BABA, TAN, IWM, ACB appeared first on InvestorPlace. 4: Aurora Cannabis (ACB) Click to Enlarge Source: Chart courtesy of TrendSpider Aurora Cannabis (NYSE:ACB) and the rest of the cannabis space caught a big boost on Wednesday. | Click to Enlarge Source: Chart courtesy of TrendSpider Aurora Cannabis (NYSE:ACB) and the rest of the cannabis space caught a big boost on Wednesday. The post 4 Top Stock Trades for Thursday: BABA, TAN, IWM, ACB appeared first on InvestorPlace. 4: Aurora Cannabis (ACB) | If ACB stock can reclaim the 50-week moving average and take out Wednesday’s high, it puts the December high in play at $12.19 — followed by the November high near $14.50. 4: Aurora Cannabis (ACB) Click to Enlarge Source: Chart courtesy of TrendSpider Aurora Cannabis (NYSE:ACB) and the rest of the cannabis space caught a big boost on Wednesday. | ACB stock gapped up, opening over $11 per share. The post 4 Top Stock Trades for Thursday: BABA, TAN, IWM, ACB appeared first on InvestorPlace. 4: Aurora Cannabis (ACB) |
36989.0 | 2021-01-06 00:00:00 UTC | Pot stocks high as Democrats on brink of controlling U.S. Senate | ACB | https://www.nasdaq.com/articles/pot-stocks-high-as-democrats-on-brink-of-controlling-u.s.-senate-2021-01-06 | nan | nan | Jan 6 (Reuters) - Cannabis stocks surged on Wednesday as Democrats won a key U.S. Senate race in Georgia and led in another, moving closer to a stunning sweep that would give them control of Congress and power to act on their promise to legalize pot.
U.S.-listed shares of Aphria Inc APHA.TO, APHA.O, Hexo Corp HEXO.TO, HEXO.N and Cronos Group CRON.TO, CRON.O rose between 10.4% and 13%.
Pot stocks have rallied since Joe Biden's victory in the U.S. presidential elections in November and higher demand for pot during the coronavirus-led lockdowns.
Vice President-elect Kamal Harris' has promised pot decriminalization, which would remove it from the classified substances list. But with republicans gaining control of the senate in November elections, the passage of acts to decriminalize it, had looked bleak.
While marijuana has been legalized in some states, its use is still illegal at a federal level. Import of marijuana into the U.S. from other countries, or even across states, is prohibited and federally governed institutions, like banks, can even be charged with money laundering if they work with marijuana growers.
Democrat Raphael Warnock's victory over Republican incumbent Kelly Loeffler and Jon Ossoff's lead over incumbent David Perdue on Wednesday would give Democrats the power to advance President-elect Joe Biden's policy goals.
"Given Democrat President-elect Joe Biden will take office later this month, and the House remains controlled by the Democrats – a Democratic sweep could clear the way for more progressive cannabis legislation to be passed," said Aaron Grey of Alliance Global Partners in a note.
(Reporting by Arunima Kumar in Bengaluru; Editing by Shinjini Ganguli)
((Arunima.Kumar@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Jan 6 (Reuters) - Cannabis stocks surged on Wednesday as Democrats won a key U.S. Senate race in Georgia and led in another, moving closer to a stunning sweep that would give them control of Congress and power to act on their promise to legalize pot. Vice President-elect Kamal Harris' has promised pot decriminalization, which would remove it from the classified substances list. But with republicans gaining control of the senate in November elections, the passage of acts to decriminalize it, had looked bleak. | Jan 6 (Reuters) - Cannabis stocks surged on Wednesday as Democrats won a key U.S. Senate race in Georgia and led in another, moving closer to a stunning sweep that would give them control of Congress and power to act on their promise to legalize pot. Democrat Raphael Warnock's victory over Republican incumbent Kelly Loeffler and Jon Ossoff's lead over incumbent David Perdue on Wednesday would give Democrats the power to advance President-elect Joe Biden's policy goals. "Given Democrat President-elect Joe Biden will take office later this month, and the House remains controlled by the Democrats – a Democratic sweep could clear the way for more progressive cannabis legislation to be passed," said Aaron Grey of Alliance Global Partners in a note. | Jan 6 (Reuters) - Cannabis stocks surged on Wednesday as Democrats won a key U.S. Senate race in Georgia and led in another, moving closer to a stunning sweep that would give them control of Congress and power to act on their promise to legalize pot. Democrat Raphael Warnock's victory over Republican incumbent Kelly Loeffler and Jon Ossoff's lead over incumbent David Perdue on Wednesday would give Democrats the power to advance President-elect Joe Biden's policy goals. "Given Democrat President-elect Joe Biden will take office later this month, and the House remains controlled by the Democrats – a Democratic sweep could clear the way for more progressive cannabis legislation to be passed," said Aaron Grey of Alliance Global Partners in a note. | Jan 6 (Reuters) - Cannabis stocks surged on Wednesday as Democrats won a key U.S. Senate race in Georgia and led in another, moving closer to a stunning sweep that would give them control of Congress and power to act on their promise to legalize pot. U.S.-listed shares of Aphria Inc APHA.TO, APHA.O, Hexo Corp HEXO.TO, HEXO.N and Cronos Group CRON.TO, CRON.O rose between 10.4% and 13%. But with republicans gaining control of the senate in November elections, the passage of acts to decriminalize it, had looked bleak. |
36990.0 | 2021-01-06 00:00:00 UTC | CANADA STOCKS-TSX rises on boost from pot producers | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-on-boost-from-pot-producers-2021-01-06 | nan | nan | Jan 6 (Reuters) - Canada's main stock index rose on Wednesday, buoyed by cannabis stocks as investors looked ahead to the prospect of a Democrat-controlled Senate in the United States.
* Democrats won one U.S. Senate race in Georgia and led in another on Wednesday, moving closer to a sweep in a deep South state that would give them control of Congress and the power to advance President-elect Joe Biden's policy goals.
* At 9:36 a.m. ET (14:36 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 70.73 points, or 0.4%, at 17,753.24.
* Healthcare sector .GSPTTHC jumped 7.8% with cannabis stocks being the biggest gainers.
* The energy sector .SPTTEN climbed 1.1% as U.S. crude CLc1 prices were up 0.1% a barrel, while Brent crude LCOc1 added 0.5%. O/R
* The financials sector .SPTTFS gained 1.0%. The industrials sector .GSPTTIN rose 0.8%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.5% as gold futures GCc1 rose 0.4% to $1,959.9 an ounce. GOL/
* On the TSX, 137 issues were higher, while 79 issues declined for a 1.73-to-1 ratio favouring gainers, with 19.94 million shares traded.
* The largest percentage gainers on the TSX were Canopy Growth Corp , which jumped 14.7% and Aurora Cannabis Inc , which rose 12.4%.
* Lightspeed POS Inc fell 4.0%, the most on the TSX, after TD Securities raised target price to C$105 from C$82. The second biggest decliner was Iamgold Corp , down 4.0%.
* The most heavily traded shares by volume were Zenabis Global Inc , Toronto-Dominion Bank and Bank of Nova Scotia .
* The TSX posted 11 new 52-week highs and no new lows.
* Across all Canadian issues there were 45 new 52-week highs and 5 new lows, with total volume of 43.47 million shares.
(Reporting by Shivani Kumaresan in Bengaluru; Editing by Krishna Chandra Eluri)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Democrats won one U.S. Senate race in Georgia and led in another on Wednesday, moving closer to a sweep in a deep South state that would give them control of Congress and the power to advance President-elect Joe Biden's policy goals. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.5% as gold futures GCc1 rose 0.4% to $1,959.9 an ounce. * The largest percentage gainers on the TSX were Canopy Growth Corp , which jumped 14.7% and Aurora Cannabis Inc , which rose 12.4%. | Jan 6 (Reuters) - Canada's main stock index rose on Wednesday, buoyed by cannabis stocks as investors looked ahead to the prospect of a Democrat-controlled Senate in the United States. * Healthcare sector .GSPTTHC jumped 7.8% with cannabis stocks being the biggest gainers. GOL/ * On the TSX, 137 issues were higher, while 79 issues declined for a 1.73-to-1 ratio favouring gainers, with 19.94 million shares traded. | Jan 6 (Reuters) - Canada's main stock index rose on Wednesday, buoyed by cannabis stocks as investors looked ahead to the prospect of a Democrat-controlled Senate in the United States. * Healthcare sector .GSPTTHC jumped 7.8% with cannabis stocks being the biggest gainers. GOL/ * On the TSX, 137 issues were higher, while 79 issues declined for a 1.73-to-1 ratio favouring gainers, with 19.94 million shares traded. | Jan 6 (Reuters) - Canada's main stock index rose on Wednesday, buoyed by cannabis stocks as investors looked ahead to the prospect of a Democrat-controlled Senate in the United States. The industrials sector .GSPTTIN rose 0.8%. * Across all Canadian issues there were 45 new 52-week highs and 5 new lows, with total volume of 43.47 million shares. |
36991.0 | 2021-01-06 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-AmerisourceBergen, ReneSola Ltd, Big Tech stocks | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-amerisourcebergen-renesola-ltd-big-tech-stocks-2021-01-06 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes opened lower on Wednesday as the likelihood of Democrats gaining control of the Senate sparked fears of increased regulatory scrutiny of technology mega-caps. .N
At 9:55 a.m. ET, the Dow Jones Industrial Average .DJI was up 0.74% at 30,615.82. The S&P 500 .SPX was up 0.28% at 3,737.22 and the Nasdaq Composite .IXIC was down 0.50% at 12,755.305. The top three S&P 500 .PG.INX percentage gainers: ** Vulcan Materials Co , up 9.8% ** AmerisourceBergen Corp , up 8.7% ** Martin Marietta Materials Inc , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4% ** Adobe Inc , down 3.2% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 11.5% ** Hexo Corp , up 10.8% The top three NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 25.4% ** Enservco Corp , down 9.9% ** Orla Mining Ltd , down 9.7% The top Nasdaq .PG.O percentage gainers: ** TAT Technologies Ltd , up 43.9% ** Orchard Therapeutics plc , up 41.1% The top three Nasdaq .PL.O percentage losers: ** Imara Inc , down 32.8% ** PAVmed Inc , down 14% ** Sigilon Therapeutics Inc , down 11.1% ** My Size Inc MYSZ.O: down 24.2%
BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 5.2%
BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 43.9%
BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 13.2% ** Canopy Growth Corp CGC.N: up 10.7% ** Aphria Inc APHA.O: up 10.5%
** Cronos Group Inc CRON.O: up 12.1% ** Hexo Corp HEXO.N: up 10.8% ** Aurora Cannabis Inc ACB.N: up 9.6% ** Tilray Inc TLRY.O: up 11.9%
BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.0%
BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 0.8%
BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.3% ** Exxon Mobil Corp XOM.N: up 1.2% ** Hess Corp HES.N: up 1.4% ** Schlumberger NV SLB.N: up 3.6% ** TechnipFMC PLC FTI.N: up 2.6%
BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 2.5%
BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 2.8%
BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 14.9% ** Canadian Solar Inc CSIQ.O: up 8.0% ** First Solar Inc FSLR.O: up 5.4% ** Enphase Energy Inc ENPH.O: up 11.1% ** Sunrun Inc RUN.O: up 10.4% ** SunPower Corp SPWR.O: up 14.3% ** Plug Power Inc PLUG.O: up 8.6% ** Clean Energy Fuels Corp CLNE.O: up 4.3%
BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.5%
BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 2.0%
BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** Horace Mann Educators Corp HMN.N: up 2.1%
BUZZ-Piper Sandler downgrades Horace Mann; says auto insurance growth may subside ** JPMorgan Chase & Co JPM.N: up 3.7% ** Bank of America Corp BAC.N: up 5.8% ** Wells Fargo & Co WFC.N: up 5.5% ** Goldman Sachs Group Inc GS.N: up 3.3% ** Morgan Stanley MS.N: up 3.5% ** Citigroup Inc C.N: up 5.2%
BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 3.3%
BUZZ-Falls on $12 mln direct stock offering ** Simply Good Foods Co SMPL.O: up 0.4%
BUZZ-Rises on Q1 beat, half-year outlook bump ** Apple Inc AAPL.O: down 1.9% ** Microsoft Corp MSFT.O: down 1.9% ** Alphabet Inc GOOGL.O: down 1.3% ** Facebook Inc FB.O: down 2.6%
BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** AIM ImmunoTech Inc AIM.N: up 0.5%
BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 66.5%
BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 2.4%
BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.90%
Consumer Discretionary
.SPLRCD
up 0.42%
Consumer Staples
.SPLRCS
up 0.26%
Energy
.SPNY
up 0.98%
Financial
.SPSY
up 3.12%
Health
.SPXHC
up 0.35%
Industrial
.SPLRCI
up 1.38%
Information Technology
.SPLRCT
down 1.14%
Materials
.SPLRCM
up 2.75%
Real Estate
.SPLRCR
down 0.60%
Utilities
.SPLRCU
up 1.83%
(Compiled by Amruta Khandekar in Bengaluru)
((Amruta.Khandekar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Vulcan Materials Co , up 9.8% ** AmerisourceBergen Corp , up 8.7% ** Martin Marietta Materials Inc , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4% ** Adobe Inc , down 3.2% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 11.5% ** Hexo Corp , up 10.8% The top three NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 25.4% ** Enservco Corp , down 9.9% ** Orla Mining Ltd , down 9.7% The top Nasdaq .PG.O percentage gainers: ** TAT Technologies Ltd , up 43.9% ** Orchard Therapeutics plc , up 41.1% The top three Nasdaq .PL.O percentage losers: ** Imara Inc , down 32.8% ** PAVmed Inc , down 14% ** Sigilon Therapeutics Inc , down 11.1% ** My Size Inc MYSZ.O: down 24.2% BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 5.2% BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 43.9% BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 13.2% ** Canopy Growth Corp CGC.N: up 10.7% ** Aphria Inc APHA.O: up 10.5% ** Cronos Group Inc CRON.O: up 12.1% ** Hexo Corp HEXO.N: up 10.8% ** Aurora Cannabis Inc ACB.N: up 9.6% ** Tilray Inc TLRY.O: up 11.9% BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.0% BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 0.8% BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.3% ** Exxon Mobil Corp XOM.N: up 1.2% ** Hess Corp HES.N: up 1.4% ** Schlumberger NV SLB.N: up 3.6% ** TechnipFMC PLC FTI.N: up 2.6% BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 2.5% BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 2.8% BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 14.9% ** Canadian Solar Inc CSIQ.O: up 8.0% ** First Solar Inc FSLR.O: up 5.4% ** Enphase Energy Inc ENPH.O: up 11.1% ** Sunrun Inc RUN.O: up 10.4% ** SunPower Corp SPWR.O: up 14.3% ** Plug Power Inc PLUG.O: up 8.6% ** Clean Energy Fuels Corp CLNE.O: up 4.3% BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.5% BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 2.0% BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** Horace Mann Educators Corp HMN.N: up 2.1% BUZZ-Piper Sandler downgrades Horace Mann; says auto insurance growth may subside ** JPMorgan Chase & Co JPM.N: up 3.7% ** Bank of America Corp BAC.N: up 5.8% ** Wells Fargo & Co WFC.N: up 5.5% ** Goldman Sachs Group Inc GS.N: up 3.3% ** Morgan Stanley MS.N: up 3.5% ** Citigroup Inc C.N: up 5.2% BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 3.3% BUZZ-Falls on $12 mln direct stock offering ** Simply Good Foods Co SMPL.O: up 0.4% BUZZ-Rises on Q1 beat, half-year outlook bump ** Apple Inc AAPL.O: down 1.9% ** Microsoft Corp MSFT.O: down 1.9% ** Alphabet Inc GOOGL.O: down 1.3% ** Facebook Inc FB.O: down 2.6% BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** AIM ImmunoTech Inc AIM.N: up 0.5% BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 66.5% BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 2.4% BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened lower on Wednesday as the likelihood of Democrats gaining control of the Senate sparked fears of increased regulatory scrutiny of technology mega-caps. up 1.83% (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Vulcan Materials Co , up 9.8% ** AmerisourceBergen Corp , up 8.7% ** Martin Marietta Materials Inc , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4% ** Adobe Inc , down 3.2% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 11.5% ** Hexo Corp , up 10.8% The top three NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 25.4% ** Enservco Corp , down 9.9% ** Orla Mining Ltd , down 9.7% The top Nasdaq .PG.O percentage gainers: ** TAT Technologies Ltd , up 43.9% ** Orchard Therapeutics plc , up 41.1% The top three Nasdaq .PL.O percentage losers: ** Imara Inc , down 32.8% ** PAVmed Inc , down 14% ** Sigilon Therapeutics Inc , down 11.1% ** My Size Inc MYSZ.O: down 24.2% BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 5.2% BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 43.9% BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 13.2% ** Canopy Growth Corp CGC.N: up 10.7% ** Aphria Inc APHA.O: up 10.5% ** Cronos Group Inc CRON.O: up 12.1% ** Hexo Corp HEXO.N: up 10.8% ** Aurora Cannabis Inc ACB.N: up 9.6% ** Tilray Inc TLRY.O: up 11.9% BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.0% BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 0.8% BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.3% ** Exxon Mobil Corp XOM.N: up 1.2% ** Hess Corp HES.N: up 1.4% ** Schlumberger NV SLB.N: up 3.6% ** TechnipFMC PLC FTI.N: up 2.6% BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 2.5% BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 2.8% BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 14.9% ** Canadian Solar Inc CSIQ.O: up 8.0% ** First Solar Inc FSLR.O: up 5.4% ** Enphase Energy Inc ENPH.O: up 11.1% ** Sunrun Inc RUN.O: up 10.4% ** SunPower Corp SPWR.O: up 14.3% ** Plug Power Inc PLUG.O: up 8.6% ** Clean Energy Fuels Corp CLNE.O: up 4.3% BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.5% BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 2.0% BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** Horace Mann Educators Corp HMN.N: up 2.1% BUZZ-Piper Sandler downgrades Horace Mann; says auto insurance growth may subside ** JPMorgan Chase & Co JPM.N: up 3.7% ** Bank of America Corp BAC.N: up 5.8% ** Wells Fargo & Co WFC.N: up 5.5% ** Goldman Sachs Group Inc GS.N: up 3.3% ** Morgan Stanley MS.N: up 3.5% ** Citigroup Inc C.N: up 5.2% BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 3.3% BUZZ-Falls on $12 mln direct stock offering ** Simply Good Foods Co SMPL.O: up 0.4% BUZZ-Rises on Q1 beat, half-year outlook bump ** Apple Inc AAPL.O: down 1.9% ** Microsoft Corp MSFT.O: down 1.9% ** Alphabet Inc GOOGL.O: down 1.3% ** Facebook Inc FB.O: down 2.6% BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** AIM ImmunoTech Inc AIM.N: up 0.5% BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 66.5% BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 2.4% BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened lower on Wednesday as the likelihood of Democrats gaining control of the Senate sparked fears of increased regulatory scrutiny of technology mega-caps. up 2.75% Real Estate | The top three S&P 500 .PG.INX percentage gainers: ** Vulcan Materials Co , up 9.8% ** AmerisourceBergen Corp , up 8.7% ** Martin Marietta Materials Inc , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4% ** Adobe Inc , down 3.2% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 11.5% ** Hexo Corp , up 10.8% The top three NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 25.4% ** Enservco Corp , down 9.9% ** Orla Mining Ltd , down 9.7% The top Nasdaq .PG.O percentage gainers: ** TAT Technologies Ltd , up 43.9% ** Orchard Therapeutics plc , up 41.1% The top three Nasdaq .PL.O percentage losers: ** Imara Inc , down 32.8% ** PAVmed Inc , down 14% ** Sigilon Therapeutics Inc , down 11.1% ** My Size Inc MYSZ.O: down 24.2% BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 5.2% BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 43.9% BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 13.2% ** Canopy Growth Corp CGC.N: up 10.7% ** Aphria Inc APHA.O: up 10.5% ** Cronos Group Inc CRON.O: up 12.1% ** Hexo Corp HEXO.N: up 10.8% ** Aurora Cannabis Inc ACB.N: up 9.6% ** Tilray Inc TLRY.O: up 11.9% BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.0% BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 0.8% BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.3% ** Exxon Mobil Corp XOM.N: up 1.2% ** Hess Corp HES.N: up 1.4% ** Schlumberger NV SLB.N: up 3.6% ** TechnipFMC PLC FTI.N: up 2.6% BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 2.5% BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 2.8% BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 14.9% ** Canadian Solar Inc CSIQ.O: up 8.0% ** First Solar Inc FSLR.O: up 5.4% ** Enphase Energy Inc ENPH.O: up 11.1% ** Sunrun Inc RUN.O: up 10.4% ** SunPower Corp SPWR.O: up 14.3% ** Plug Power Inc PLUG.O: up 8.6% ** Clean Energy Fuels Corp CLNE.O: up 4.3% BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.5% BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 2.0% BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** Horace Mann Educators Corp HMN.N: up 2.1% BUZZ-Piper Sandler downgrades Horace Mann; says auto insurance growth may subside ** JPMorgan Chase & Co JPM.N: up 3.7% ** Bank of America Corp BAC.N: up 5.8% ** Wells Fargo & Co WFC.N: up 5.5% ** Goldman Sachs Group Inc GS.N: up 3.3% ** Morgan Stanley MS.N: up 3.5% ** Citigroup Inc C.N: up 5.2% BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 3.3% BUZZ-Falls on $12 mln direct stock offering ** Simply Good Foods Co SMPL.O: up 0.4% BUZZ-Rises on Q1 beat, half-year outlook bump ** Apple Inc AAPL.O: down 1.9% ** Microsoft Corp MSFT.O: down 1.9% ** Alphabet Inc GOOGL.O: down 1.3% ** Facebook Inc FB.O: down 2.6% BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** AIM ImmunoTech Inc AIM.N: up 0.5% BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 66.5% BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 2.4% BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit The 11 major S&P 500 sectors: Communication Services ET, the Dow Jones Industrial Average .DJI was up 0.74% at 30,615.82. down 0.90% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** Vulcan Materials Co , up 9.8% ** AmerisourceBergen Corp , up 8.7% ** Martin Marietta Materials Inc , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Alexandria Real Estate Equities Inc , down 4% ** Adobe Inc , down 3.2% ** ServiceNow Inc , down 3.2% The top NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 11.5% ** Hexo Corp , up 10.8% The top three NYSE .PL.N percentage losers: ** Mexco Energy Corp , down 25.4% ** Enservco Corp , down 9.9% ** Orla Mining Ltd , down 9.7% The top Nasdaq .PG.O percentage gainers: ** TAT Technologies Ltd , up 43.9% ** Orchard Therapeutics plc , up 41.1% The top three Nasdaq .PL.O percentage losers: ** Imara Inc , down 32.8% ** PAVmed Inc , down 14% ** Sigilon Therapeutics Inc , down 11.1% ** My Size Inc MYSZ.O: down 24.2% BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 5.2% BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 43.9% BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 13.2% ** Canopy Growth Corp CGC.N: up 10.7% ** Aphria Inc APHA.O: up 10.5% ** Cronos Group Inc CRON.O: up 12.1% ** Hexo Corp HEXO.N: up 10.8% ** Aurora Cannabis Inc ACB.N: up 9.6% ** Tilray Inc TLRY.O: up 11.9% BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Alexandria Real Estate Equities Inc ARE.N: down 4.0% BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 0.8% BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.3% ** Exxon Mobil Corp XOM.N: up 1.2% ** Hess Corp HES.N: up 1.4% ** Schlumberger NV SLB.N: up 3.6% ** TechnipFMC PLC FTI.N: up 2.6% BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut ** Tesla Inc TSLA.O: up 2.5% BUZZ-Up as Morgan Stanley raises PT to second highest on Street ** Stealth BioTherapeutics Corp MITO.O: up 2.8% BUZZ-Up after FDA agrees to discuss Barth syndrome drug application ** Solaredge Technologies Inc SEDG.O: up 14.9% ** Canadian Solar Inc CSIQ.O: up 8.0% ** First Solar Inc FSLR.O: up 5.4% ** Enphase Energy Inc ENPH.O: up 11.1% ** Sunrun Inc RUN.O: up 10.4% ** SunPower Corp SPWR.O: up 14.3% ** Plug Power Inc PLUG.O: up 8.6% ** Clean Energy Fuels Corp CLNE.O: up 4.3% BUZZ-Blue Senate, green energy: Solar stocks up as Democrats near chamber control ** Kellogg Co K.N: down 0.5% BUZZ-Down as Piper Sandler downgrades to 'neutral', cuts PT ** Moderna Inc MRNA.O: up 2.0% BUZZ-Up after EMA approves COVID-19 vaccine for emergency use ** Horace Mann Educators Corp HMN.N: up 2.1% BUZZ-Piper Sandler downgrades Horace Mann; says auto insurance growth may subside ** JPMorgan Chase & Co JPM.N: up 3.7% ** Bank of America Corp BAC.N: up 5.8% ** Wells Fargo & Co WFC.N: up 5.5% ** Goldman Sachs Group Inc GS.N: up 3.3% ** Morgan Stanley MS.N: up 3.5% ** Citigroup Inc C.N: up 5.2% BUZZ-Banks eye rising rates as Democrats on brink of U.S. Senate control ** Clearside Biomedical Inc CLSD.O: down 3.3% BUZZ-Falls on $12 mln direct stock offering ** Simply Good Foods Co SMPL.O: up 0.4% BUZZ-Rises on Q1 beat, half-year outlook bump ** Apple Inc AAPL.O: down 1.9% ** Microsoft Corp MSFT.O: down 1.9% ** Alphabet Inc GOOGL.O: down 1.3% ** Facebook Inc FB.O: down 2.6% BUZZ-Big Tech stocks drop as likelihood of Democrat Blue Sweep rises ** AIM ImmunoTech Inc AIM.N: up 0.5% BUZZ-Up as it starts testing drug on post-COVID-19 chronic fatigue patients ** Aikido Pharma Inc AIKI.O: up 66.5% BUZZ-Surges on patent license agreement for cancer treatment ** Walgreens Boots Alliance Inc WBA.O: up 2.4% BUZZ-Up on AmerisourceBergen's $6.5 bln offer for distribution unit The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened lower on Wednesday as the likelihood of Democrats gaining control of the Senate sparked fears of increased regulatory scrutiny of technology mega-caps. ET, the Dow Jones Industrial Average .DJI was up 0.74% at 30,615.82. |
36992.0 | 2021-01-06 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-My Size Inc, Beyond Meat, pot stocks | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-my-size-inc-beyond-meat-pot-stocks-2021-01-06 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Futures tied to the tech-heavy Nasdaq 100 index sank 2% on Wednesday as the possibility of Democrats gaining control of the Senate sparked fears of tighter regulations on technology mega-caps. .N
At 7:38 a.m. ET, Dow e-minis 1YMc1 were up 0.23% at 30,354. S&P 500 e-minis ESc1 were down 0.17% at 3,711.75, while Nasdaq 100 e-minis NQc1 were down 1.41% at 12,613.5. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hexo Corp , up 18.3% ** Luxfer Holdings PLC , up 16.2% ** Aurora Cannabis Inc , up 15.5% The top three NYSE percentage losers premarket .PRPL.NQ: ** Masonite International Corp , down 16.8% ** Natural Grocers by Vitamin Cottage Inc , down 11.3% ** CNFinance Holdings Ltd , down 8.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Guardion Health Sciences Inc , up 63.7% ** Change Healthcare Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** My Size Inc , down 22.5% ** Titan Medical Inc , down 17.6% ** Naked Brand Group Ltd , down 16.9% ** My Size Inc MYSZ.O: down 22.5% premarket BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 9.7% premarket BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 33.1% premarket BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 16.8% premarket ** Aphria Inc APHA.O: up 8.9% premarket ** Cronos Group Inc CRON.O: up 9.7% premarket ** Hexo Corp HEXO.N: up 18.3% premarket ** Aurora Cannabis Inc ACB.N: up 15.5% premarket ** Tilray Inc TLRY.O: up 15.6% premarket BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Perrigo Co PLC PRGO.N: down 0.3% premarket BUZZ-Down after brokerage downgrades rating ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% premarket BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.0% premarket BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.6% premarket ** Exxon Mobil Corp XOM.N: up 2.1% premarket ** SM Energy Co SM.N: up 1.4% premarket ** Hess Corp HES.N: up 2.5% premarket ** Apache Corp APA.O: up 2.2% premarket ** Occidental Petroleum Corp OXY.N: up 2.1% premarket ** Schlumberger NV SLB.N: up 2.0% premarket ** TechnipFMC PLC FTI.N: up 4.7% premarket BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut
(Compiled by Amruta Khandekar in Bengaluru)
((Amruta.Khandekar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hexo Corp , up 18.3% ** Luxfer Holdings PLC , up 16.2% ** Aurora Cannabis Inc , up 15.5% The top three NYSE percentage losers premarket .PRPL.NQ: ** Masonite International Corp , down 16.8% ** Natural Grocers by Vitamin Cottage Inc , down 11.3% ** CNFinance Holdings Ltd , down 8.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Guardion Health Sciences Inc , up 63.7% ** Change Healthcare Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** My Size Inc , down 22.5% ** Titan Medical Inc , down 17.6% ** Naked Brand Group Ltd , down 16.9% ** My Size Inc MYSZ.O: down 22.5% premarket BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 9.7% premarket BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 33.1% premarket BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 16.8% premarket ** Aphria Inc APHA.O: up 8.9% premarket ** Cronos Group Inc CRON.O: up 9.7% premarket ** Hexo Corp HEXO.N: up 18.3% premarket ** Aurora Cannabis Inc ACB.N: up 15.5% premarket ** Tilray Inc TLRY.O: up 15.6% premarket BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Perrigo Co PLC PRGO.N: down 0.3% premarket BUZZ-Down after brokerage downgrades rating ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% premarket BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.0% premarket BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.6% premarket ** Exxon Mobil Corp XOM.N: up 2.1% premarket ** SM Energy Co SM.N: up 1.4% premarket ** Hess Corp HES.N: up 2.5% premarket ** Apache Corp APA.O: up 2.2% premarket ** Occidental Petroleum Corp OXY.N: up 2.1% premarket ** Schlumberger NV SLB.N: up 2.0% premarket ** TechnipFMC PLC FTI.N: up 4.7% premarket BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures tied to the tech-heavy Nasdaq 100 index sank 2% on Wednesday as the possibility of Democrats gaining control of the Senate sparked fears of tighter regulations on technology mega-caps. ET, Dow e-minis 1YMc1 were up 0.23% at 30,354. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hexo Corp , up 18.3% ** Luxfer Holdings PLC , up 16.2% ** Aurora Cannabis Inc , up 15.5% The top three NYSE percentage losers premarket .PRPL.NQ: ** Masonite International Corp , down 16.8% ** Natural Grocers by Vitamin Cottage Inc , down 11.3% ** CNFinance Holdings Ltd , down 8.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Guardion Health Sciences Inc , up 63.7% ** Change Healthcare Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** My Size Inc , down 22.5% ** Titan Medical Inc , down 17.6% ** Naked Brand Group Ltd , down 16.9% ** My Size Inc MYSZ.O: down 22.5% premarket BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 9.7% premarket BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 33.1% premarket BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 16.8% premarket ** Aphria Inc APHA.O: up 8.9% premarket ** Cronos Group Inc CRON.O: up 9.7% premarket ** Hexo Corp HEXO.N: up 18.3% premarket ** Aurora Cannabis Inc ACB.N: up 15.5% premarket ** Tilray Inc TLRY.O: up 15.6% premarket BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Perrigo Co PLC PRGO.N: down 0.3% premarket BUZZ-Down after brokerage downgrades rating ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% premarket BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.0% premarket BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.6% premarket ** Exxon Mobil Corp XOM.N: up 2.1% premarket ** SM Energy Co SM.N: up 1.4% premarket ** Hess Corp HES.N: up 2.5% premarket ** Apache Corp APA.O: up 2.2% premarket ** Occidental Petroleum Corp OXY.N: up 2.1% premarket ** Schlumberger NV SLB.N: up 2.0% premarket ** TechnipFMC PLC FTI.N: up 4.7% premarket BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures tied to the tech-heavy Nasdaq 100 index sank 2% on Wednesday as the possibility of Democrats gaining control of the Senate sparked fears of tighter regulations on technology mega-caps. S&P 500 e-minis ESc1 were down 0.17% at 3,711.75, while Nasdaq 100 e-minis NQc1 were down 1.41% at 12,613.5. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hexo Corp , up 18.3% ** Luxfer Holdings PLC , up 16.2% ** Aurora Cannabis Inc , up 15.5% The top three NYSE percentage losers premarket .PRPL.NQ: ** Masonite International Corp , down 16.8% ** Natural Grocers by Vitamin Cottage Inc , down 11.3% ** CNFinance Holdings Ltd , down 8.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Guardion Health Sciences Inc , up 63.7% ** Change Healthcare Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** My Size Inc , down 22.5% ** Titan Medical Inc , down 17.6% ** Naked Brand Group Ltd , down 16.9% ** My Size Inc MYSZ.O: down 22.5% premarket BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 9.7% premarket BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 33.1% premarket BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 16.8% premarket ** Aphria Inc APHA.O: up 8.9% premarket ** Cronos Group Inc CRON.O: up 9.7% premarket ** Hexo Corp HEXO.N: up 18.3% premarket ** Aurora Cannabis Inc ACB.N: up 15.5% premarket ** Tilray Inc TLRY.O: up 15.6% premarket BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Perrigo Co PLC PRGO.N: down 0.3% premarket BUZZ-Down after brokerage downgrades rating ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% premarket BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.0% premarket BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.6% premarket ** Exxon Mobil Corp XOM.N: up 2.1% premarket ** SM Energy Co SM.N: up 1.4% premarket ** Hess Corp HES.N: up 2.5% premarket ** Apache Corp APA.O: up 2.2% premarket ** Occidental Petroleum Corp OXY.N: up 2.1% premarket ** Schlumberger NV SLB.N: up 2.0% premarket ** TechnipFMC PLC FTI.N: up 4.7% premarket BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures tied to the tech-heavy Nasdaq 100 index sank 2% on Wednesday as the possibility of Democrats gaining control of the Senate sparked fears of tighter regulations on technology mega-caps. S&P 500 e-minis ESc1 were down 0.17% at 3,711.75, while Nasdaq 100 e-minis NQc1 were down 1.41% at 12,613.5. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hexo Corp , up 18.3% ** Luxfer Holdings PLC , up 16.2% ** Aurora Cannabis Inc , up 15.5% The top three NYSE percentage losers premarket .PRPL.NQ: ** Masonite International Corp , down 16.8% ** Natural Grocers by Vitamin Cottage Inc , down 11.3% ** CNFinance Holdings Ltd , down 8.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Guardion Health Sciences Inc , up 63.7% ** Change Healthcare Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** My Size Inc , down 22.5% ** Titan Medical Inc , down 17.6% ** Naked Brand Group Ltd , down 16.9% ** My Size Inc MYSZ.O: down 22.5% premarket BUZZ-Drops on discounted share offering ** ACE Convergence Acquisition Corp ACEV.O: up 9.7% premarket BUZZ-Surges on reports of merger talks with Achronix ** TAT Technologies Ltd TATT.O: up 33.1% premarket BUZZ-Gains on rental services agreement with Honeywell ** Sundial Growers Inc SNDL.O: up 16.8% premarket ** Aphria Inc APHA.O: up 8.9% premarket ** Cronos Group Inc CRON.O: up 9.7% premarket ** Hexo Corp HEXO.N: up 18.3% premarket ** Aurora Cannabis Inc ACB.N: up 15.5% premarket ** Tilray Inc TLRY.O: up 15.6% premarket BUZZ-Pot stocks: Gain as Democrats edge closer to U.S. Senate control ** Perrigo Co PLC PRGO.N: down 0.3% premarket BUZZ-Down after brokerage downgrades rating ** Alexandria Real Estate Equities Inc ARE.N: down 4.2% premarket BUZZ-Down after medical office REIT prices upsized equity offering ** Beyond Meat Inc BYND.O: down 2.0% premarket BUZZ-Shares down after Piper Sandler downgrades ** Chevron Corp CVX.N: up 1.6% premarket ** Exxon Mobil Corp XOM.N: up 2.1% premarket ** SM Energy Co SM.N: up 1.4% premarket ** Hess Corp HES.N: up 2.5% premarket ** Apache Corp APA.O: up 2.2% premarket ** Occidental Petroleum Corp OXY.N: up 2.1% premarket ** Schlumberger NV SLB.N: up 2.0% premarket ** TechnipFMC PLC FTI.N: up 4.7% premarket BUZZ-Oil cos rise as Saudi Arabia pledges unilateral output cut (Compiled by Amruta Khandekar in Bengaluru) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures tied to the tech-heavy Nasdaq 100 index sank 2% on Wednesday as the possibility of Democrats gaining control of the Senate sparked fears of tighter regulations on technology mega-caps. ET, Dow e-minis 1YMc1 were up 0.23% at 30,354. |
36993.0 | 2021-01-06 00:00:00 UTC | Why Aurora Cannabis Is On Fire Today | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-is-on-fire-today-2021-01-06 | nan | nan | What happened
Shares of Canadian pot giant Aurora Cannabis (NYSE: ACB) jumped by as much as 17% in pre-market trading Wednesday morning. The marijuana cultivator's stock is shooting northward in response to the early results from two Senate runoff elections in Georgia held yesterday.
While ballots are still being counted in the Peach State, some major news outlets are already calling the race for Democratic challenger Rev. Raphael Warnock over Republican Sen. Kelly Loeffler. Democrat Jon Ossoff also holds a slight lead over Republican Sen. David Perdue with 98% of the votes counted, according to multiple sources. Democrats thus appear to be on the verge of equalizing the Senate at 50 seats a piece.
Image source: Getty Images.
So what
Over the past two years, three major pieces of legislation on marijuana reform have passed the U.S. House of Representatives. Each time, however, these bills have gone nowhere fast in the Republican-controlled Senate, thanks largely to opposition from current majority leader Mitch McConnell. One or more of these marijuana reform bills, though, may now have a chance of actually being passed in light of this potential power shift. Aurora, therefore, might be able to vastly expand its U.S. footprint within the next few years.
Now what
Is this pot stock a buy in the wake of this possible political shift in the United States? Unfortunately, the answer is a solid no. There is no way to say for sure how far any initial marijuana reform in the U.S. will go. What's more, the U.S. already sports several entrenched multistate operators. Put simply, Aurora probably won't realize any material benefit from this likely political swing in 2021.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
George Budwell has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Canadian pot giant Aurora Cannabis (NYSE: ACB) jumped by as much as 17% in pre-market trading Wednesday morning. The marijuana cultivator's stock is shooting northward in response to the early results from two Senate runoff elections in Georgia held yesterday. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. | What happened Shares of Canadian pot giant Aurora Cannabis (NYSE: ACB) jumped by as much as 17% in pre-market trading Wednesday morning. So what Over the past two years, three major pieces of legislation on marijuana reform have passed the U.S. House of Representatives. One or more of these marijuana reform bills, though, may now have a chance of actually being passed in light of this potential power shift. | What happened Shares of Canadian pot giant Aurora Cannabis (NYSE: ACB) jumped by as much as 17% in pre-market trading Wednesday morning. So what Over the past two years, three major pieces of legislation on marijuana reform have passed the U.S. House of Representatives. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. | What happened Shares of Canadian pot giant Aurora Cannabis (NYSE: ACB) jumped by as much as 17% in pre-market trading Wednesday morning. So what Over the past two years, three major pieces of legislation on marijuana reform have passed the U.S. House of Representatives. Simply click here to get the full story now. |
36994.0 | 2021-01-06 00:00:00 UTC | Pre-Market Most Active for Jan 6, 2021 : CHNG, SQQQ, ACB, TLRY, NIO, QQQ, TATT, AAPL, EQNR, BP, FUBO, HEXO | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-jan-6-2021-%3A-chng-sqqq-acb-tlry-nio-qqq-tatt-aapl-eqnr-bp-fubo | nan | nan | The NASDAQ 100 Pre-Market Indicator is down -160.36 to 12,642.02. The total Pre-Market volume is currently 42,065,576 shares traded.
The following are the most active stocks for the pre-market session:
Change Healthcare Inc. (CHNG) is +6.2 at $24.44, with 6,294,547 shares traded. As reported by Zacks, the current mean recommendation for CHNG is in the "strong buy range".
ProShares UltraPro Short QQQ (SQQQ) is +0.59 at $16.04, with 3,870,530 shares traded. This represents a 6.51% increase from its 52 Week Low.
Aurora Cannabis Inc. (ACB) is +1.67 at $11.37, with 3,516,934 shares traded. ACB's current last sale is 125.01% of the target price of $9.095.
Tilray, Inc. (TLRY) is +1.52 at $11.03, with 2,592,536 shares traded. TLRY's current last sale is 110.3% of the target price of $10.
NIO Inc. (NIO) is +0.86 at $54.06, with 2,098,619 shares traded. NIO's current last sale is 163.82% of the target price of $33.
Invesco QQQ Trust, Series 1 (QQQ) is -3.98 at $307.88, with 2,061,033 shares traded. This represents a 86.67% increase from its 52 Week Low.
TAT Technologies Ltd. (TATT) is +1.98 at $7.08, with 2,021,853 shares traded.
Apple Inc. (AAPL) is -2.211 at $128.80, with 2,008,780 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Equinor ASA (EQNR) is +0.7399 at $17.98, with 1,473,481 shares traded. As reported by Zacks, the current mean recommendation for EQNR is in the "buy range".
BP p.l.c. (BP) is +1.12 at $23.50, with 1,019,557 shares traded. BP's current last sale is 88.68% of the target price of $26.5.
fuboTV Inc. (FUBO) is +1.32 at $28.65, with 949,290 shares traded. As reported by Zacks, the current mean recommendation for FUBO is in the "buy range".
HEXO Corp. (HEXO) is +0.64 at $4.79, with 914,238 shares traded. HEXO's current last sale is 133.06% of the target price of $3.6.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +1.67 at $11.37, with 3,516,934 shares traded. ACB's current last sale is 125.01% of the target price of $9.095. As reported by Zacks, the current mean recommendation for CHNG is in the "strong buy range". | Aurora Cannabis Inc. (ACB) is +1.67 at $11.37, with 3,516,934 shares traded. ACB's current last sale is 125.01% of the target price of $9.095. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". | Aurora Cannabis Inc. (ACB) is +1.67 at $11.37, with 3,516,934 shares traded. ACB's current last sale is 125.01% of the target price of $9.095. The total Pre-Market volume is currently 42,065,576 shares traded. | ACB's current last sale is 125.01% of the target price of $9.095. Aurora Cannabis Inc. (ACB) is +1.67 at $11.37, with 3,516,934 shares traded. The NASDAQ 100 Pre-Market Indicator is down -160.36 to 12,642.02. |
36995.0 | 2021-01-05 00:00:00 UTC | Why Can't Aurora Cannabis Land a Deal? | ACB | https://www.nasdaq.com/articles/why-cant-aurora-cannabis-land-a-deal-2021-01-05 | nan | nan | One way for marijuana companies to strengthen their financial positions and growth prospects is through consolidation. Aurora Cannabis (NYSE: ACB) has been rumored to be involved in some talks over major deals in the past few years. In 2018, BNN Bloomberg reported that the Canadian pot giant was in talks to develop cannabis beverages with Coca-Cola. Obviously, what would've been a blockbuster deal never came to fruition.
Months later, seemingly intent on finding a partner from another industry, Aurora hired billionaire investor Nelson Peltz as a strategic advisor to "explore potential partnerships." Ultimately, he wasn't able to find a deal for Aurora before resigning in September 2020. Most recently, there were also rumors of merger talks between Aphria and Aurora, only for that deal to fall through. Aphria instead decided to join forces with Tilray, forming the biggest cannabis company in the world in terms of revenue.
With no success in finding a partner or company to merge with, let's take a look at why companies may not be willing to join forces with Aurora and whether there is hope of a deal coming together this year.
Image source: Getty Images.
Is Aurora just too much of a headache?
Aurora prides itself on having a presence in 25 countries across the world, but that could be more of an impediment than an advantage. With so many different operations to manage, a prospective partner may see it as a big undertaking to acquire or merge with Aurora. And having vast operations isn't the least of Aurora's problems.
In its most recent fiscal year, for the period ending June 30, Aurora incurred a net loss of 3.3 billion Canadian dollars. Much of that was a result of impairment losses totaling CA$2.8 billion. On an adjusted EBITDA basis, however, the company says it is on track to hit breakeven by the second quarter of fiscal 2021 -- results that will likely come out as early as next month. In its first-quarter results released Nov. 9, Aurora reported an adjusted EBITDA loss of CA$57.9 million.
While burning through cash from its operations in each of the past four quarters, share issues have been common as the company tries to raise money. Share dilution drives down a company's share price. Aurora's stock has fallen 60% in the past year, much worse than the Horizons Marijuana Life Sciences ETF, which has declined just 4% over the same period.
For a prospective company looking to partner, merge with, or acquire the business, that's a big concern, because it means Aurora needs significant financial support -- and it's not as if the business has been showing much growth of late to make it a worthwhile investment. In the first quarter, Aurora's net revenue of CA$67.8 million was down 1% from the previous quarter. And that's even further from the CA$73.5 million that it reported in the third quarter.
Between having locations all over the world, cash flow and profit problems, and a lack of growth, there's no shortage of issues for a potential partner or acquiring company to deal with. Aurora may first need to address these issues to make its business more attractive before it's able to land a deal.
Does it come down to management?
It's understandable if companies from other industries are hesitant to invest in marijuana, given that the industry remains illegal in the U.S. and a company like Aurora isn't exactly a safe bet.
But as problematic as Aurora's business may be, it's not exactly a secret among other cannabis companies. Despite its problems, Aphria was still interested in merging with the company. The companies were rumored to be fine-tuning the details of a potential merger, including the composition of the board and executive compensation when Aphria decided to team up with Tilray.
With Aurora focused on costs and trimming its expenses wherever it can, it could be that the financials are playing a more important role for management now than in the past, and so items like compensation could be a dealbreaker. Just last month, Aurora announced another round of job cuts and layoffs of 214 workers. It also said it would be pausing operations at its Aurora Sun facility and slashing production by 75% at Aurora Sky.
There's also been a lot of change at the CEO position in just the past year, which may have impacted the company's vision and long-term strategy. In February 2020, Terry Booth resigned as CEO. Executive Chairman Michael Singer took over and end up hanging on for a while before relinquishing the post to Miguel Martin on Sept. 8, 2020.
With so much going on at Aurora and management under pressure to improve the bottom line, the timing may simply not have been right to get a deal done -- especially if it would add costs, even in the short term.
Will Aurora strike a deal this year?
If Martin can provide stability at the CEO position and Aurora can hit its positive adjusted EBITDA target, the company will become much more attractive to a potential partner or investor this year. Aurora may even decide to take on an acquisition of its own. But given the company's financial struggles and the aggressive cuts that it has been making of late, it would be surprising to see Aurora make a large purchase in 2021. The more likely scenario is that it merges with another cannabis company -- assuming it can find a suitable partner.
However, this is still a risky pot stock to invest in. Investors shouldn't assume that a big deal is around the corner, and even if one does end up coming together, it doesn't mean that Aurora's problems will suddenly disappear.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
David Jagielski has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) has been rumored to be involved in some talks over major deals in the past few years. Months later, seemingly intent on finding a partner from another industry, Aurora hired billionaire investor Nelson Peltz as a strategic advisor to "explore potential partnerships." Between having locations all over the world, cash flow and profit problems, and a lack of growth, there's no shortage of issues for a potential partner or acquiring company to deal with. | Aurora Cannabis (NYSE: ACB) has been rumored to be involved in some talks over major deals in the past few years. In its most recent fiscal year, for the period ending June 30, Aurora incurred a net loss of 3.3 billion Canadian dollars. In its first-quarter results released Nov. 9, Aurora reported an adjusted EBITDA loss of CA$57.9 million. | Aurora Cannabis (NYSE: ACB) has been rumored to be involved in some talks over major deals in the past few years. With no success in finding a partner or company to merge with, let's take a look at why companies may not be willing to join forces with Aurora and whether there is hope of a deal coming together this year. It's understandable if companies from other industries are hesitant to invest in marijuana, given that the industry remains illegal in the U.S. and a company like Aurora isn't exactly a safe bet. | Aurora Cannabis (NYSE: ACB) has been rumored to be involved in some talks over major deals in the past few years. With no success in finding a partner or company to merge with, let's take a look at why companies may not be willing to join forces with Aurora and whether there is hope of a deal coming together this year. With so many different operations to manage, a prospective partner may see it as a big undertaking to acquire or merge with Aurora. |
36996.0 | 2021-01-05 00:00:00 UTC | Here's Why Today Could Be a Huge Day for Cannabis | ACB | https://www.nasdaq.com/articles/heres-why-today-could-be-a-huge-day-for-cannabis-2021-01-05 | nan | nan | In November, pot stocks soared on both a Joe Biden presidential win and the legalization of recreational marijuana in four more states (Arizona, Montana, New Jersey, and South Dakota). There's been plenty of optimism that there could be significant changes ahead for the cannabis industry, including the decriminalization of marijuana and moving it off its current Schedule I classification with the Drug Enforcement Administration (DEA).
But time and time again, cannabis investors have gotten their hopes up after marijuana legislation passed in the House of Representatives only for it to end up going nowhere. Even a change in leadership at the White House may not be enough to move the needle. Arguably, one of the biggest obstacles for the cannabis industry is the U.S. Senate -- but power there could soon shift as well.
Image source: Getty Images.
Runoff elections will dictate which party controls the Senate
In Georgia, two Senate runoff elections are scheduled for today, Jan. 5. All eyes are peeled on the race, given that Republicans currently hold 50 seats while Democrats occupy 48 (if you include the two independents who caucus with them, Bernie Sanders and Angus King). With two seats at stake, a Democratic sweep would give the party an equal share. And if there is a tie in the Senate, the deadlock is broken by the vice president -- a seat that Democrat Kamala Harris will soon hold.
Why does it matter if Democrats gain control?
Democratic control of the Senate is important to the pot industry, because Republicans have historically taken a harder stance on cannabis than Democrats. While multiple marijuana bills have passed the Democrat-controlled House in the past few years, there's been no progress in the Senate. In September 2019, the House passed the Secure and Fair Enforcement (SAFE) Banking Act. The bill was an effort to help the industry easily access banking services and avoid having to hold excessive amounts of cash, which many argue is a security issue. And even that failed to go anywhere in the Senate.
On Oct. 1, the House also passed the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, a COVID-19 relief bill that included the SAFE Banking Act. And while it renewed optimism for the cannabis bill, the act hasn't moved since. The Senate did approve the Coronavirus Aid, Relief, and Economic Security (CARES) Act earlier this year, which provided funding to help small businesses -- with the exception of those involved with federally illegal marijuana sales.
Most recently, the House passed the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, one of the most ambitious marijuana bills presented by Congress. It wouldn't legalize pot, but would remove the drug from the Controlled Substances Act. However, drug policy expert John Hudak said he "would give it less than a snowball's chance of passage in the Senate."
In short, there's been little love for marijuana in majority leader Mitch McConnell's Senate. Unless power changes hands, it's unlikely there will be much hope for any meaningful marijuana reform in the near future.
Although a change in control in the Senate doesn't guarantee that any marijuana-friendly bill will pass if it gets there, it certainly improves the odds for marijuana reform to take place over the next few years.
Marijuana reform is an easy way to get investors bullish on the sector
During the month of November, amid all the excitement in the industry about legalization, many top pot stocks soared:
HMMJ data by YCharts
Canopy Growth (NASDAQ: CGC), Aurora Cannabis, HEXO, and Aphria all soared more than 50% during the month. Even the Horizons Marijuana Life Sciences ETF popped. Even a sliver of hope that marijuana reform will pass can get investors more bullish on the industry. While the outright legalization of marijuana may not be imminent, any reform could be seen as a positive step forward.
Canopy Growth may have the most to gain. In 2019, it struck a deal to acquire multistate operator Acreage Holdings upon federal legalization of marijuana in the U.S. Acreage has a presence in 15 states. The move would give Canopy Growth a strong footprint in the U.S. market. The two companies are planning ahead for the legalized market -- Acreage is launching cannabis-infused beverages in the U.S. market this summer. In addition, Canopy Growth offers a line of Martha Stewart CBD Wellness Gummies, which are made in the U.S. and made from hemp-derived cannabidiol (CBD).
The U.S. is a big part of Canopy Growth's long-term strategy, and the stock could skyrocket in 2021 if there's some heightened optimism for the industry -- and for marijuana bills to finally find their way through the Senate. For all of these reasons, cannabis investors should keep their eyes on Georgia today.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
David Jagielski has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In November, pot stocks soared on both a Joe Biden presidential win and the legalization of recreational marijuana in four more states (Arizona, Montana, New Jersey, and South Dakota). There's been plenty of optimism that there could be significant changes ahead for the cannabis industry, including the decriminalization of marijuana and moving it off its current Schedule I classification with the Drug Enforcement Administration (DEA). The Senate did approve the Coronavirus Aid, Relief, and Economic Security (CARES) Act earlier this year, which provided funding to help small businesses -- with the exception of those involved with federally illegal marijuana sales. | Runoff elections will dictate which party controls the Senate In Georgia, two Senate runoff elections are scheduled for today, Jan. 5. In September 2019, the House passed the Secure and Fair Enforcement (SAFE) Banking Act. On Oct. 1, the House also passed the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, a COVID-19 relief bill that included the SAFE Banking Act. | Marijuana reform is an easy way to get investors bullish on the sector During the month of November, amid all the excitement in the industry about legalization, many top pot stocks soared: HMMJ data by YCharts Canopy Growth (NASDAQ: CGC), Aurora Cannabis, HEXO, and Aphria all soared more than 50% during the month. The U.S. is a big part of Canopy Growth's long-term strategy, and the stock could skyrocket in 2021 if there's some heightened optimism for the industry -- and for marijuana bills to finally find their way through the Senate. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | And while it renewed optimism for the cannabis bill, the act hasn't moved since. Canopy Growth may have the most to gain. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. |
36997.0 | 2021-01-04 00:00:00 UTC | Jefferies Still Sees Doom and Gloom in Aurora Cannabis Stock | ACB | https://www.nasdaq.com/articles/jefferies-still-sees-doom-and-gloom-in-aurora-cannabis-stock-2021-01-04 | nan | nan | 2021 here we come. A new U.S. president and administration on the way, and one deemed favorable to the cannabis industry.
Joe Biden’s November election win was well received by investors of the struggling Canadian LPs, with several names rallying following the results. The specter of legislation at the federal level and the market opening the gates for the Canadian players saw an optimistic industry wide surge.
However, considering the case for one of the poster boys of the Canadian cannabis industry’s struggles, Aurora Cannabis (ACB), Jefferies analyst Owen Bennett is convinced the bear case still holds true.
In a recent business update, the company announced it had rearranged its debt commitments in order to address liquidity concerns. While Bennett believes the issue has been taken care of, the move was not enough to act as a catalyst for a turnaround, with two main concerns driving his bearish thesis.
“One was the potential inability to invest properly given the debt overhang,” the analyst said. “Two was the Canadian top-line outlook being in a period of limbo. The business update has not made us more confident in either area.”
Included in Aurora’s update was the decision to move to a “variable cost structure,” which puts greater emphasis on sourcing supply from a third party, geared toward the company’s value portfolio.
At the time, Bennett thought the decision was “driven by requirements of the debt holders vs what might be best for the top line.”
“We continue to believe this is so,” he said, “And that Aurora was likely required to take actions to preserve cash.”
As for the topline worries, while Bennett is “fully behind the potential cost and margin benefits” of the new strategy, it also adds a new layer of risk and “uncertainty to near-term market share trends.”
Aurora has strong representation in “below premium price segments,” and Bennett believes there is “no guarantee it can ensure quality and consistency as it moves to third-party supply, and therefore as this transition takes place we could see some volatility.”
All in all, the analyst rates ACB an Underperform (i.e. Sell) along with a C$4.59 ($3.61) price target. The implication for investors? A 62% downside over the next 12 months. (To watch Bennett’s track record, click here)
Bennett’s colleagues are on the same page. The stock has a Moderate Sell consensus rating based on 8 Holds and 4 Sells. However, on where the share price is heading, the rest of the Street is less bearish. Going by the C$11.17 ($8.79) average price target, shares are poised to tumble ~8% from current levels. (See Aurora stock analysis on TipRanks)
To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time, Bennett thought the decision was “driven by requirements of the debt holders vs what might be best for the top line.” “We continue to believe this is so,” he said, “And that Aurora was likely required to take actions to preserve cash.” As for the topline worries, while Bennett is “fully behind the potential cost and margin benefits” of the new strategy, it also adds a new layer of risk and “uncertainty to near-term market share trends.” Aurora has strong representation in “below premium price segments,” and Bennett believes there is “no guarantee it can ensure quality and consistency as it moves to third-party supply, and therefore as this transition takes place we could see some volatility.” All in all, the analyst rates ACB an Underperform (i.e. Sell) along with a C$4.59 ($3.61) price target. However, considering the case for one of the poster boys of the Canadian cannabis industry’s struggles, Aurora Cannabis (ACB), Jefferies analyst Owen Bennett is convinced the bear case still holds true. Joe Biden’s November election win was well received by investors of the struggling Canadian LPs, with several names rallying following the results. | However, considering the case for one of the poster boys of the Canadian cannabis industry’s struggles, Aurora Cannabis (ACB), Jefferies analyst Owen Bennett is convinced the bear case still holds true. At the time, Bennett thought the decision was “driven by requirements of the debt holders vs what might be best for the top line.” “We continue to believe this is so,” he said, “And that Aurora was likely required to take actions to preserve cash.” As for the topline worries, while Bennett is “fully behind the potential cost and margin benefits” of the new strategy, it also adds a new layer of risk and “uncertainty to near-term market share trends.” Aurora has strong representation in “below premium price segments,” and Bennett believes there is “no guarantee it can ensure quality and consistency as it moves to third-party supply, and therefore as this transition takes place we could see some volatility.” All in all, the analyst rates ACB an Underperform (i.e. Sell) along with a C$4.59 ($3.61) price target. (See Aurora stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. | However, considering the case for one of the poster boys of the Canadian cannabis industry’s struggles, Aurora Cannabis (ACB), Jefferies analyst Owen Bennett is convinced the bear case still holds true. At the time, Bennett thought the decision was “driven by requirements of the debt holders vs what might be best for the top line.” “We continue to believe this is so,” he said, “And that Aurora was likely required to take actions to preserve cash.” As for the topline worries, while Bennett is “fully behind the potential cost and margin benefits” of the new strategy, it also adds a new layer of risk and “uncertainty to near-term market share trends.” Aurora has strong representation in “below premium price segments,” and Bennett believes there is “no guarantee it can ensure quality and consistency as it moves to third-party supply, and therefore as this transition takes place we could see some volatility.” All in all, the analyst rates ACB an Underperform (i.e. Sell) along with a C$4.59 ($3.61) price target. (See Aurora stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. | At the time, Bennett thought the decision was “driven by requirements of the debt holders vs what might be best for the top line.” “We continue to believe this is so,” he said, “And that Aurora was likely required to take actions to preserve cash.” As for the topline worries, while Bennett is “fully behind the potential cost and margin benefits” of the new strategy, it also adds a new layer of risk and “uncertainty to near-term market share trends.” Aurora has strong representation in “below premium price segments,” and Bennett believes there is “no guarantee it can ensure quality and consistency as it moves to third-party supply, and therefore as this transition takes place we could see some volatility.” All in all, the analyst rates ACB an Underperform (i.e. Sell) along with a C$4.59 ($3.61) price target. However, considering the case for one of the poster boys of the Canadian cannabis industry’s struggles, Aurora Cannabis (ACB), Jefferies analyst Owen Bennett is convinced the bear case still holds true. Joe Biden’s November election win was well received by investors of the struggling Canadian LPs, with several names rallying following the results. |
36998.0 | 2021-01-04 00:00:00 UTC | CANADA STOCKS - TSX rises 0.54% to 17,528.23 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.54-to-17528.23-2021-01-04 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.54 percent to 17,528.23
* Leading the index were Brookfield Property Partners LP , up 17.8%, Aurora Cannabis Inc ACB.TO, up 14.2%, and Fortuna Silver Mines Inc FVI.TO, higher by 13.3%.
* Lagging shares were Lightspeed POS Inc LSPD.TO, down 4.7%, NFI Group Inc NFI.TO, down 4.7%, and CI Financial Corp CIX.TO, lower by 4.3%.
* On the TSX 108 issues rose and 108 fell as advancing issues matched in a 1-to-1 ratio . There were 12 new highs and no new lows, with total volume of 178.1 million shares.
* The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Brookfield Property Partners Lp BPY_u.TO and Aurora Cannabis Inc ACB.TO.
* The TSX's energy group .SPTTEN rose 0.95 points, or 1.0%, while the financials sector .SPTTFS slipped 2.62 points, or 0.9%.
* West Texas Intermediate crude futures CLc1 fell 2.41%, or $1.17, to $47.35 a barrel. Brent crude LCOc1 fell 2.1%, or $1.09, to $50.71 O/R
* The TSX is up 0.5% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The Toronto Stock Exchange's TSX rises 0.54 percent to 17,528.23 * Leading the index were Brookfield Property Partners LP , up 17.8%, Aurora Cannabis Inc ACB.TO, up 14.2%, and Fortuna Silver Mines Inc FVI.TO, higher by 13.3%. * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Brookfield Property Partners Lp BPY_u.TO and Aurora Cannabis Inc ACB.TO. * Lagging shares were Lightspeed POS Inc LSPD.TO, down 4.7%, NFI Group Inc NFI.TO, down 4.7%, and CI Financial Corp CIX.TO, lower by 4.3%. | * The Toronto Stock Exchange's TSX rises 0.54 percent to 17,528.23 * Leading the index were Brookfield Property Partners LP , up 17.8%, Aurora Cannabis Inc ACB.TO, up 14.2%, and Fortuna Silver Mines Inc FVI.TO, higher by 13.3%. * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Brookfield Property Partners Lp BPY_u.TO and Aurora Cannabis Inc ACB.TO. * The TSX's energy group .SPTTEN rose 0.95 points, or 1.0%, while the financials sector .SPTTFS slipped 2.62 points, or 0.9%. | * The Toronto Stock Exchange's TSX rises 0.54 percent to 17,528.23 * Leading the index were Brookfield Property Partners LP , up 17.8%, Aurora Cannabis Inc ACB.TO, up 14.2%, and Fortuna Silver Mines Inc FVI.TO, higher by 13.3%. * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Brookfield Property Partners Lp BPY_u.TO and Aurora Cannabis Inc ACB.TO. * The TSX's energy group .SPTTEN rose 0.95 points, or 1.0%, while the financials sector .SPTTFS slipped 2.62 points, or 0.9%. | * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Brookfield Property Partners Lp BPY_u.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 0.54 percent to 17,528.23 * Leading the index were Brookfield Property Partners LP , up 17.8%, Aurora Cannabis Inc ACB.TO, up 14.2%, and Fortuna Silver Mines Inc FVI.TO, higher by 13.3%. * Lagging shares were Lightspeed POS Inc LSPD.TO, down 4.7%, NFI Group Inc NFI.TO, down 4.7%, and CI Financial Corp CIX.TO, lower by 4.3%. |
36999.0 | 2021-01-04 00:00:00 UTC | Sundial Growers Stock Still Has a Lot to Prove Despite New Debt-Free Status | ACB | https://www.nasdaq.com/articles/sundial-growers-stock-still-has-a-lot-to-prove-despite-new-debt-free-status-2021-01-04 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Sundial Growers (NASDAQ:SNDL) is attracting a lot of attention after completing its financial restructuring and acquiring debt-free status. But does that mean anything new for SNDL stock?
Source: Shutterstock
The Canadian cannabis-producer extinguished $227 million in debt through a mix of asset sales, debt/equity swap, capital raises and cash repayments.
However, SNDL is not out of the woods yet. If the third quarter’s financial and operational results are any indicator, the company has a long way to go.
Revenue came in at 9.85 million CAD, missing estimates by 7.11 million CAD. Net loss was 71.4 million CAD compared to a net loss of 32.8 million CAD in the second quarter of 2020; adjusted EBITDA loss rose by 13% over the previous quarter to 4.4 million CAD from 3.9 million CAD.
On a positive note, gross margin improved from 20% compared to 14% in Q2. Sundial did not give any guidance, but Wall Street isn’t optimistic regarding its prospects. Analysts are expecting a loss of 6 cents per share in the fourth quarter.
7 Media Stocks That Could Light Up Your Gray Winter
All this hasn’t stopped investors from rushing in and buying the stock. Shares are up 116% in the past three months, a very respectable return for a company on the ropes just a few months prior.
But as Mark Hake points out, a debt-free balance sheet will mean little if the company doesn’t start to generate revenues and improve underlying fundamentals.
MORE Act and Biden’s Win
Cannabis stocks are enjoying renewed interest these days due to a host of positive catalysts — mostly on the political front. On Jan. 20, President-elect Joe Biden will take oath as the 46th president of the United States.
If he fulfills a key campaign promise, federal marijuana reform will be part of his administration’s legacy. During his time in the Senate, he pushed punitive anti-drug legislation. But on the campaign trail, he has called for decriminalizing cannabis possession.
Canopy Growth (NASDAQ:CGC), Aurora Cannabis (NYSE:ACB) and Tilray (NASDAQ:TLRY) all soared on the back of Biden’s presidential victory. Canopy CEO David Klein said, “We believe the Biden win is an important step on the path to federal permissibility of cannabis in the U.S. market through decriminalization and descheduling.”
The U.S. House of Representatives has also passed the MORE Act — for Marijuana Opportunity, Reinvestment, and Expungement — to legalize marijuana at the federal level. However, for the MORE Act to become law, further approval is required from both the Republican-controlled U.S. Senate and the president’s office.
I recommend reading Josh Enomoto’s recent article if you want more color on how the upcoming Georgia runoff elections impact SNDL stock.
Taking a bird’s eye view, things seem to be going in the right direction for the Canadian cannabis industry. Readers of this space will know that Canadian pot stocks listed on U.S. exchanges remain heavily dependent on more states legalizing marijuana in the U.S., the biggest and most important market in this new high-growth sector.
As a byproduct, Sundial Growers stock is also doing well. But it’s important to note that this has nothing to do with the company itself.
How Much Dilution Is Too Much for SNDL Stock?
One has to give credit to Sundial management for cleaning up the balance sheet. However, that has come at a cost. Total shares outstanding shares rose from 72.8 million in March 2019 to 206.7 million in September 2020, a rise of 183.93%. Operating loss over the same period has increased by 84.85%.
It’s an unsustainable model, and as Mark Hake puts it, it’s a death spiral for Sundial Growers stock. The Canadian cannabis producer recently filed a shelf registration to issue up to $200 million in securities and separately filed a preliminary prospectus for an at-the-market equity program for up to $150 million of common stock.
These stock issuances are providing the company with a lifeline. However, in the long run, the company has to demonstrate revenue growth. Until that happens, there is no amount of capital raising that can sustain its operations.
It’s a heartening sign that Sundial management understands this predicament. That’s why it’s changing its brand strategy to concentrate more on retail and less on wholesale.
The Bottom Line
The next few quarters should give us a fair indication of where SNDL stock is headed next. On Nov. 30, the company said it now has 85 million CAD in cash due to warrant exercises. That should give it more breathing room to grow sales but only just.
Like many of my InvestorPlace colleagues, I believe that the stock is only for overenthusiastic day traders who want to try their luck. If you are an investor that values fundamental strength, Sundial Growers stock remains a perilous proposition despite the financial restructuring.
On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. Faizan does not directly own the securities mentioned above.
The post Sundial Growers Stock Still Has a Lot to Prove Despite New Debt-Free Status appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Canopy Growth (NASDAQ:CGC), Aurora Cannabis (NYSE:ACB) and Tilray (NASDAQ:TLRY) all soared on the back of Biden’s presidential victory. Source: Shutterstock The Canadian cannabis-producer extinguished $227 million in debt through a mix of asset sales, debt/equity swap, capital raises and cash repayments. MORE Act and Biden’s Win Cannabis stocks are enjoying renewed interest these days due to a host of positive catalysts — mostly on the political front. | Canopy Growth (NASDAQ:CGC), Aurora Cannabis (NYSE:ACB) and Tilray (NASDAQ:TLRY) all soared on the back of Biden’s presidential victory. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sundial Growers (NASDAQ:SNDL) is attracting a lot of attention after completing its financial restructuring and acquiring debt-free status. Net loss was 71.4 million CAD compared to a net loss of 32.8 million CAD in the second quarter of 2020; adjusted EBITDA loss rose by 13% over the previous quarter to 4.4 million CAD from 3.9 million CAD. | Canopy Growth (NASDAQ:CGC), Aurora Cannabis (NYSE:ACB) and Tilray (NASDAQ:TLRY) all soared on the back of Biden’s presidential victory. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sundial Growers (NASDAQ:SNDL) is attracting a lot of attention after completing its financial restructuring and acquiring debt-free status. Net loss was 71.4 million CAD compared to a net loss of 32.8 million CAD in the second quarter of 2020; adjusted EBITDA loss rose by 13% over the previous quarter to 4.4 million CAD from 3.9 million CAD. | Canopy Growth (NASDAQ:CGC), Aurora Cannabis (NYSE:ACB) and Tilray (NASDAQ:TLRY) all soared on the back of Biden’s presidential victory. But does that mean anything new for SNDL stock? But it’s important to note that this has nothing to do with the company itself. |
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