It will be a crucial week in the cannabis sector, as several big names will reveal their latest income, starting later today and continuing through Thursday. Given the cluster of financial data to be published, the impact on stock prices could extend beyond the companies reporting and covering the entire sector.
Among the companies reporting quarterly results between today and November 14 are Tilray, Cronos Group, Acreage Holdings, Canopy Growth, Aurora Cannabis and Medipharm Labs.
This is what you can expect:
Cronos Group
The Toronto-based Cronos Group (NASDAQ :), (TSX :), which has the smallest share of the retail cannabis market, probably has the greatest potential to show growth when it is reported quarterly today for the public. The stock closed Monday slightly more than 5% and hit US $ 8.08 on the and C $ 10.69 on the. The shares have lost just over a third of 1% in the past year, which is a lot better than most in the industry.
Weekly price chart of Cronos Group
Cronos still has a strong advantage in its back pocket compared to other companies in the sector – its $ 1.8 billion investment of Altria Group (NYSE :), the American cigarette maker. This has enabled it to finance its access to the CBD market.
Tilray
For Tilray (NASDAQ :), expectations are not that optimistic. The third quarter is released today after the closing bell.
The company is struggling to reduce cannabis prices due to stock expansion, making it difficult to deal with the more than expected loss of $ 17.9 million before adjustments reported last quarter, largely as due to continuous expansion.
The British Columbia-based grower is struggling to live up to his hype, which was created early, when in September 2018 his stock shot up 40% and made heads on both sides of the border. Since then, it has been characterized by volatility that has generated head that generates high and low values. The stock has lost almost 80% in the past year and closed 6.4% on US $ 21.92 on Monday. The expectations of analysts are not overly optimistic.
Tilray weekly price chart
Acreage Holdings
Acreage Holdings (OTC :), (CSE 🙂 will be one to watch. Third quarter earnings, which will be released today after closure, will be discussed by corporate officials on Wednesday morning.
This New York-based company is one of the largest licensed multi-state cannabis growers and retailers and operates in 20 states. With a large footprint on US markets where weed is legal, performance will be an indication of the potential on the road as federal US legalization approaches. Acreage Holdings is the company that & # 39; the world's largest marijuana producer, Canopy Growth, has agreed to purchase as a means to boost expansion to the US once Washington opens the regulatory framework.
The shares closed 4.5% yesterday, compared to $ 4.90 in New York and 2.4% in Toronto.
Weekly rate chart
Canopy growth
And talked about Canopy Growth (NYSE :), ( TSX :), it will announce its second quarter before the market opens on Thursday. In recent weeks, it has announced the launch of 16 new infused products, including 13 THC and CBD infused drinks and three chocolate bars, each containing 10 milligrams of THC. Everything will be immediately available to consumers from next month on and target new non-traditional market sectors that will introduce the cannabis experience to non-traditional users.
Cowen analyst Vivien Azer has described Canopy's sales as flat, but points out that more medical customers may be picked up from the troubled CannTrust Holdings (NYSE :), (TSX :), which stopped all sales after admitting he had grown pot in non-licensed rooms.
Canopy Growth shares fell by more than 5% on Monday and closed at US $ 20.30 (C $ 26.87).
Canopy Growth Weekly Price Chart
Aurora Cannabis
Investors holding shares of Aurora Cannabis (19459007] (19459007) NYSE :), (TSX 🙂 should brace themselves for more bad when it reports after market close on Thursday, analysts say. The Edmonton-based company predicted EBITDA-based profitability last quarter, but failed to make it. The figures may be worse this quarter.
Aurora shares fell around 5% yesterday and amounted to US $ 3.62 (C $ 4.78). The share has lost just over 50% in the past year.
Aurora Cannabis Weekly price chart
Medipharm Labs
Medipharm Labs (OTC :), (TSX 🙂 will be for the market today. Based in Barrie, Ont., This Canadian cannabis extraction company was only traded on the TSX Composite, but on November 5 it applied to the list on Nasdaq.
Founded in 2015, this company has become a world leader specializing in cannabis extraction and produces pharmaceutical grade purified pharmaceutical oil and concentrates used in derived products. With an ever-increasing number of derivative products coming online for consumers, the demand for extraction quality and reliability is growing.
Medipharm shares closed 3.8% on C $ 5.05 on Monday, but the share has achieved remarkable results, with an increase of 243.5% in the past year.
Medipharm Labs weekly price chart
