|Bid||16.46 x 3100|
|Ask||16.49 x 900|
|Day's Range||16.29 - 16.78|
|52 Week Range||9.00 - 39.98|
|Beta (5Y Monthly)||2.47|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov. 24, 2016 - Nov. 28, 2016|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
TORONTO — A planting machine crawled along the 100-acre Good Farm in Brant County, Ont. on a sunny June day, dropping seeds into the soil in the middle of the COVID-19 pandemic.Behind the wheel was an employee of 48North Cannabis Corp. one wouldn't usually expect: chief executive Charles Vennat."I joked with my team that I was the most expensive farmhand in southwestern Ontario," said Vennat, who professes to keeping a pair of hiking boots in his car trunk for such impromptu jaunts."I've always had the leadership philosophy that you should never ask anybody to do a job in your company that you would not want to do yourself."Vennat, who visits the farm once a week during warm months, was at work on his company's second crop of outdoor cannabis — a fairly new venture for licensed cannabis producers.While many pot producers started out with massive indoor facilities to prepare for the legalization of cannabis in Canada, a handful have turned to outdoor cultivation in order to take advantage of savings from free sunlight and lower electricity and staffing costs.Health Canada began handing out licenses to cultivate cannabis outside in 2019. Interest has since grown steadily.Health Canada told The Canadian Press there were 391 cannabis license holders as of May 31. About 56 are authorized for outdoor cultivation, up from 28 last December.As of March 2020, licence holders had dedicated more than 2.7 million square metres of land to outdoor growing and about 1.9 million square metres for indoor cultivation.Most say savings make outdoor cultivation attractive. A 48North spokesperson said some studies show cannabis grown indoors can cost $2 per gram to cultivate."We cultivated 12,000 kilos last year at 25 cents a gram, which is obviously disruptive," said Vennat."We're quite bullish on the fact that we will do it again this year with even better quality and a lower cost per gram."While Vennat boasts about the price, he admits that the company didn't harvest as much as it hoped and didn't have the right licensed drying spaces."Some went just extremely large scale where other producers started with a more slow and steady approach and I think are scaling up moving into this season," said Robyn Rabinovich, a senior account director at Hill and Knowlton Strategies, who has worked for CannTrust Holdings Inc. and TerrAscend.While many companies were instantly interested in outdoor cultivation, several licensed cannabis producers fought it because they had already invested in large-scale greenhouses, she said.They eventually came around on the idea, which many experts believe could become even more popular because of the cost savings and how easy it is to physically distance on outdoor farms compared to indoor facilities.Those benefits aren't lost on Canopy Growth Corp.It first got into the outside growing game last year with a test crop in Saskatchewan, but is back at it again this year. It hopes to use its crop on edibles, cannabis beverages and vaporizer pens."Your electricity bill is practically nothing when you grow with the sun," said Adam Greenblatt, a senior communications adviser with the Smiths Falls, Ont. company."When you consider indoor growing, you're talking about easily 1,000-watt lamps for every 20 square feet or so and rooms with 100,000 watts of lights, burning 12 to 18 hours a day. It's incomparable."Outdoor cannabis farming also allows for a drop in labour costs. Greenblatt estimates a dozen workers tend to Canopy's Saskatchewan cannabis farm, in comparison to its headquarters, where roughly 1,000 people work.Canopy's indoor growing team is much larger because it involves more labour intensive work such as trimming the flowers and maintaining and operating fertilizer tanks and high-powered lighting.Outside growers can often do their harvesting completely mechanically because the cannabis is being grown to become ingredients for pot products.Even with its benefits, outdoor cannabis farming isn't always a smooth venture, said Andrew Condin, the chief executive at Saskatchewan-based Bold Growth Inc.He's always paying close attention to Mother Nature because hail or high winds can wreak havoc on his cannabis crop.Condin wanted to plant 15 acres of outdoor cannabis this year, but COVID-19 has disrupted that plan.Pandemic-friendly policies have meant Bold's indoor growing operations has to split its workers into two groups and can't spare enough to tend to a full farm doing outdoor cultivation."We basically divided our teams and had no crossover so we didn't have COVID coming through the facility and transmitting through our workforce, but it's been difficult to manage that and to keep that level of protection on our team members," Condin said.When COVID-19 is over or at least subsides, he envisions all 15 acres growing and predicts, "You will see an increase in outdoor cultivation."This report by The Canadian Press was first published July 5, 2020.Companies in this story: (TSX:WEED)Tara Deschamps, The Canadian Press
Today, I'll look at two of the top pot stocks in the industry --?Aphria?(NASDAQ: APHA) and Canopy Growth?(NYSE: CGC) -- and assess which of these leading cannabis producers is the better stock to hold in your portfolio. One of the ways Aphria has established itself as one of the safer stocks in the industry is by being able to stay in the black on a relatively consistent basis. In its most recent quarterly results, which the company released on April 14, Aphria posted a net income of 5.7 million Canadian dollars on net revenue of CA$144.4 million.
Will the potential of cannabis derivatives products push these two cannabis companies towards growth this year?
Organigram is warning of declining sales and writedowns as the company delays its financial results, citing COVID-19 and “changing market dynamics.”
There's been some significant buyer's remorse of late in the cannabis industry, with would-be acquirers backing out of deals or amending them. It's not uncommon for such deals to change between the time they're proposed and the day they close, but the frequency at which that's happening in the cannabis industry is raising eyebrows among investors. On June 25,?Canopy Growth?(NYSE: CGC) and?Acreage Holdings?(OTC: ACRGF) agreed to change the terms of their deal.
While Canopy Growth (TSX:WEED) stock has generated multifold returns in the past, it remains well poised to outperform the broader equity market in the upcoming decade. The post You Won’t Believe How Much $1,000 Invested in Canopy Growth (TSX:WEED) Stock in 2014 Is Worth Today appeared first on The Motley Fool Canada.
Canopy Growth Corporation (CGC) closed the most recent trading day at $16.47, moving +1.92% from the previous trading session.
At a time when cash is king, which cannabis company is better suited to cover its losses without the expense of diluting shareholders?
Year to date, shares of the two largest companies in the cannabis sector, Canopy Growth (NYSE: CGC)?and Aurora Cannabis (NYSE: ACB), have not been performing well. Since the beginning of the year, Canopy Growth stock has declined by more than 20%, while Aurora's stock has fallen by as much as 50%. In fiscal year 2020, Canopy Growth generated more than $399 million in net revenue, representing a growth of 76% compared with last year.
Growing concerns in the U.S. pot market forced Canopy Growth to amend the deal with Acreage as the latter reported disappointing Q1 earnings. Will the new arrangement help Acreage's stock?
Many pot stocks are struggling to stay afloat this year, and many will have to shut down due to COVID-19 and the recession that the pandemic has caused. Trulieve Cannabis?(OTC: TCNNF) has always been one of the safer pot stocks to invest in, for many reasons. First and foremost is the company's focus on the Florida medical marijuana market.
Industry insiders say the math behind the current policy favours higher-potency drinks while restricting sales of mellower products.
Wondering how to invest in stocks in July? Focusing on companies that benefit from the re-opening such as Lightspeed POS (TSX:LSPD).The post 3 Top Growth Stocks for July appeared first on The Motley Fool Canada.
If you are looking for great pot stocks to buy in 2020, take a second look at Aurora Cannabis Inc (TSX:ACB)(NYSE:ACB).The post 2 Pot Stocks to Hold in July appeared first on The Motley Fool Canada.
Canopy Growth Corporation (CGC) closed the most recent trading day at $16.59, moving -0.72% from the previous trading session.
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (15,446.14, up 151.76 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Down half a cent, or 1.12 per cent, to 44 cents on 12.1 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Down half a cent, or 5.88 per cent, to eight cents on 9.7 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up five cents, or 0.22 per cent, to $22.80 on 7.8 million shares.Bonavista Energy Corp. (TSX:BNP). Energy. Up half a cent, or 9.09 per cent, to six cents on 7.9 million shares.Freegold Ventures Ltd. (TSX:FVL). Materials. Up 25 cents, or 28.74 per cent, to $1.12 on 7.7 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 19 cents, or 0.81 per cent, to $23.61 on 6.7 million shares.Companies in the news:Air Canada (TSX:AC). Down nine cents to $17.10. Air Canada has quietly changed its refund policy to allow some customers whose flights were cancelled due to the COVID-19 pandemic to recoup their cash — but not passengers whose trips originated in Canada. Customers with flights originating in the European Union, Switzerland and Iceland due to the pandemic are "entitled to receive a refund," states a document recently posted to Air Canada's website.Calfrac Well Services Ltd. (TSX:CFW). Down one cent or 5.6 per cent to 17 cents. Calfrac Well Services Ltd. is reporting a sharply deeper loss on lower revenue as demand for its oil and gas well completion services slumped in the first quarter. The Calgary-based company's net loss jumped to $123 million in the three months ended March 31 from a loss of $36 million in the year-earlier period. Revenue plunged 36 per cent to $305.5 million from $475 million in the same period of 2019.Canopy Growth Corp. (TSX:WEED). Down 15 cents to $22.62. Canopy Growth Corp. is shaking up its Acreage Holdings Inc. acquisition deal because of "broader market and economic factors." Smiths Falls, Ont.-based Canopy signed an agreement in April 2019 to take over the New York company if cannabis production and sale became federally legal in the United States. As part of the changes, which include an up-front payment for Acreage shareholders and certain convertible security holders totalling US$37.5 million or about 30 cents US per share, Acreage shareholders will receive 0.7 of a fixed share and 0.3 of a floating share for each Acreage share they hold.Aphria Inc. (TSX:APHA). Down seven cents or 1.2 per cent to $5.76. Aphria Inc. has reached a deal worth $29.1 million to settle a dispute with Emblem Cannabis Corp. and Aleafia Health Inc. The settlement ends a disagreement the companies had over Aleafia's decision in 2019 to cancel a supply agreement it had with Aphria. Aphria CEO Irwin Simon says the deal allows the companies to avoid the distraction and the potential expense of prolonged litigation. Under the agreement, Emblem, which was acquired by Aleafia in 2019, will receive $15 million in cash, $10 million in Aphria shares and a waiver of claimed receivables.This report by The Canadian Press was first published June 25, 2020.The Canadian Press
Canopy Growth Corp. is shaking up its Acreage Holdings Inc. acquisition deal because of "broader market and economic factors."Smiths Falls, Ont.-based Canopy signed an agreement in April 2019 to takeover the New York company if cannabis production and sale became federally legal in the United States.The deal would help Canopy deepen its international opportunities and involved the company agreeing to pay 0.5818 of its share for each Acreage share.As part of the changes, which include an up-front payment for Acreage shareholders and certain convertible security holders totalling US$37.5 million or about 30 cents US per share, Acreage shareholders will receive 0.7 of a fixed share and 0.3 of a floating share for each Acreage share they hold.Once the cannabis laws change in the U.S., Canopy has agreed to swap 0.3048 of a Canopy share for each fixed Acreage share. Canopy will also have the option to buy the floating Acreage shares for a price equal to their 30-day volume weighted average trading price, subject to a minimum of US$6.41 per share, payable in either cash or shares at Canopy's option.Canopy, which is behind brands including Tweed and Tokyo Smoke, said in a release that the new deal will better align with current economic conditions and "give Acreage shareholders the ability to participate in upside potential.""The United States is going to be a core market for Canopy Growth and this new agreement solidifies our path forward with Acreage," chief executive David Klein said in a statement."I am excited to bring our relationship with Acreage back to centre stage in our U.S. strategy and look forward to a time when the laws in the United States permit us to finalize this transaction as we march toward bringing our exciting beverage products to the US."Acreage is behind the Botanist, Live Resin Project, Natural Wonder and Prime brands and has former prime minister Brian Mulroney on its board.In connection with the new deal, Acreage chief executive Kevin Murphy announced he was resigning as chief executive, but will continue as chairman of the board of directors.Director Bill Van Faasen, former chairman, CEO and president of the Blue Cross Blue Shield of Massachusetts, will serve as Acreage's interim CEO.The shuffle comes after Canopy laid off 85 full-time workers and closed its indoor facility in Yorkton, Sask., to align its production in Canada with market conditions in April.Canopy also ended farming in Springfield, N.Y., cultivation work at a facility in Colombia and operations in South Africa and Lesotho.Prior to those cuts, the company had laid off 500 employees, closed some of its greenhouses and took writedowns of between $700 million and $800 million at the start of the year as it dealt with profitability challenges.This report by The Canadian Press was first published June 25, 2020.Companies in this story: (TSX:WEED)Tara Deschamps, The Canadian Press
Canopy Growth and Acreage Holdings have changed the terms of their deal, citing “volatile financial market conditions.”
Can Canopy Growth stock rebound in the second half of 2020?The post Canopy Growth (TSX:WEED) Stock: Can It Lead the $70 Billion Cannabis Market? appeared first on The Motley Fool Canada.
TSX cannabis stocks are up almost 50% in the last three months. Will the strength continue going forward? Or is weakness in the cards?The post How Top TSX Cannabis Stocks Are Placed for the Future appeared first on The Motley Fool Canada.
Canopy Growth and Acreage agree to amend plan of arrangement to provide potential additional upside for all shareholders Amended arrangement provides for up-front cash payment to Acreage shareholders and ...
Strong liquidity, high growth potential, and initiatives to improve margins make Canopy Growth an attractive buy. The post Why Canopy Growth (TSX:WEED) Is a Buy After the Recent Pullback appeared first on The Motley Fool Canada.
Beyond the lofty projections, top executives spoke in detail about some of the near-term challenges and opportunities facing the world’s most valuable cannabis company.?
After plummeting for months, Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) looks to be making some gains. So could this cannabis producer be on the way back to the top?The post Canopy Growth (TSX:WEED) Stock: $0 or $100? appeared first on The Motley Fool Canada.
Industry:?Drug Manufacturers—Specialty & Generic
Full Time Employees:?4,434
Canopy Growth Corporation, together with its subsidiaries, engages in engages in production, distribution, and sale of cannabis for recreational and medical purposes primarily in Canada, the United States, Germany, and the United Kingdom. It operates through two segments, Cannabis, Hemp and Other Consumer Products; and Canopy Rivers. The company's products include dried cannabis flowers, oils and concentrates, softgel capsules, and hemps. It offers its products under the Tweed, Quatreau, Deep Space, Spectrum Therapeutics, First & Free, TWD, This Works, BioSteel, CraftGrow, Tokyo Smoke, DOJA, Van der Pop, and Bean & Bud brands. The company also provides growth capital and a strategic support platform that pursues investment opportunities in the global cannabis sector. Canopy Growth Corporation has a clinical research partnership with NEEKA Health Canada and NHL Alumni Association to examine the efficacy of CBD-based therapies as part of a mitigation of persistent post-concussion symptoms. The company was formerly known as Tweed Marijuana Inc. and changed its name to Canopy Growth Corporation in September 2015. Canopy Growth Corporation is headquartered in Smiths Falls, Canada.