Economy Shares finally green again despite mixed earnings results

Shares finally green again despite mixed earnings results

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "A strong week for cannabis ended with surprising quarterly results from & nbsp;Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) Friday with net sales of CA $ 123.8 million ($ 93.5 million) in the third quarter of the fiscal year, up 49% year over year. While the adjusted EBITDA loss of CA $ 92 million was higher than the previous year’s CA $ 74.8 million, investors were thrilled by the strong sales and margin figures. “Data-reactid =” 18 “> A strong week for cannabis ended with surprising quarterly results from Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) Friday with net sales of CA $ 123.8 million ($ 93.5 million) in the third quarter, up 49% year over year. While the adjusted EBITDA loss of CA $ 92 million was higher than the previous year’s CA $ 74.8 million, investors were thrilled by the strong sales and margin figures.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The result report was a" big exhalation on what For Canadian LPs It was a difficult few weeks as the most important company in the industry is still superior in terms of sales and profit margin, ”said Tim Seymour. Portfolio manager of the Strengthen the Seymour Cannabis ETF and co-hosted CNBC’s “Fast Money,” said Benzinga. “data-reactid =” 19 “> The result report was a” great exhalation of the difficult weeks that have passed for Canadian LPs as the most important company in Canada. “The sector beats in terms of profit and profit,” said Tim Seymour. Portfolio manager of the Strengthen the Seymour Cannabis ETF and co-hosted CNBC’s “Fast Money,” said Benzinga.

Seymour was most impressed with Canopy’s gross margin improvement. The margin increased from 13% to 34% and exceeded the consensus estimates by 25%. The company attributed this to “significant depreciation over the previous quarters and higher selling prices in this quarter for 2.0 products”.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "See what analysts said about the results Here, “data-reactid =” 21 “> See what analysts said about the results.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "If you’d like to receive this summary in your email inbox every week, please subscribe https://tinyletter.com/javierhasse“data-reactid =” 22 “>If you’d like to receive this summary in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse

For Debra Borchardt, CEO of Green Market Report, Canopy’s results were not that impressive.

“We continue to get discouraging earnings reports from various cannabis companies, but that doesn’t mean that everyone is bad,” she said. “While Aurora Cannabis, Canopy Rivers and Supreme Cannabis were talking about fighting this week, Neptune Wellness delivered a solid quarter. I think we’ll see the market shake out the stalks and seeds of the thriving players, and that’s actually a good thing. This will make decisions easier for investors. “

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In contrast to his peer, Aurora Cannabis Inc. (NYSE: ACB) reported disappointing second quarter results, including consolidated net sales of CA $ 66.6 million (USD 50.21 million), 26% less than CA $ 75.2 million in the first quarter. The company generated quarterly net sales of CA $ 63 million, compared to CA $ 70.8 million in the previous quarter. “Data-reactid =” 25 “> In contrast to its competitors Aurora Cannabis Inc. (NYSE: ACB) reported disappointing second quarter results, including consolidated net sales of CA $ 66.6 million (USD 50.21 million), 26% less than CA $ 75.2 million in the first quarter. The company generated quarterly net sales of CA $ 63 million, compared to CA $ 70.8 million in the previous quarter.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Other earnings reports this week included those of Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT), Akerna Corp. (NASDAQ: CORE) and cbdMD, Inc. (NYSE: YCBD). Read our articles on all of the key earnings reports from the past week Here, “data-reactid =” 26 “> Other earnings reports this week included those from Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT), Akerna Corp. (NASDAQ: CORE) and cbdMD, Inc. (NYSE: YCBD). Read our articles here on all the important profit reports from the past week.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Benzinga, a financial news and data company, announced the start of the Benzinga Cannabis Advisory Council. You can see a full list of members Here, “data-reactid =” 27 “> Benzinga, a financial news and data company, announced the launch of the Benzinga Cannabis Advisory Council. A full list of members can be found here.

In Mexico, a leading legislator said the Senate would vote on adult legalization this month. In Argentina, a government-funded scientific research facility began offering a medical cannabis testing service. And in California, more than 85,000 minor marijuana convictions were automatically removed from public records.

In other news, the Virginia House of Representatives approved a bill that would decriminalize small amounts of marijuana possession.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Berlin cannabis startup Sanity Group announced the closing of a $ 22 million Series A financing round on Monday with investments by entertainment mogul Scooter Braun, Cherry Ventures in Berlin and a personal investment by Snoop Doggs money man Karan Wadhera from Casa Verde Capital. “data-reactid =” 30 “> Berlin cannabis startup Sanity Group announced on Monday the completion of a $ 22 million Series A financing round with investments by entertainment mogul Scooter Braun, Berlin’s Cherry Ventures and a personal investment by Snoop Doggs money man Karan Wadhera from Casa Verde Capital.

ETFs were finally back in the green. In the last five trading sessions:

  • The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) (TSE: HMMJ) rose 3.21%.
  • The ETFMG Alternative Harvest ETF (NYSE: MJ) grew 2.11%.
  • The AdvisorShares Pure Cannabis ETF (NYSE: YOLO) rose 1.42%.
  • The Cannabis ETF (NYSE: THCX) gained 1.87%.
  • The Strengthen the Seymour Cannabis ETF (NYSE: CNBS) added 2.66%.
  • The SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period 1.63%.

More cannabis news from the week

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Vertically integrated cannabis pharmacy Harborside Inc & nbsp;(CSE: HBOR) (OTC: HSDEF) announced the opening of its San Leandro retail store. Harborside San Leandro has a medical role, but will expand to leisure services in the coming months. This final opening marks Harborside’s fourth pharmacy in California. “Data-reactid =” 40 “> Vertically integrated cannabis pharmacy Harborside Inc. (CSE: HBOR) (OTC: HSDEF) announced the opening of its San Leandro retail store. Harborside San Leandro is active in medicine, but will expand to leisure services in the coming months. This final opening marks Harborside’s fourth pharmacy in California.

The store maintains the same inventory as existing retail locations, including Harborside’s own canny lines KEY and Harborside Farms, and also offers delivery services.

“The San Leandro community has welcomed us warmly over the past few months and the entire Harborside team looks forward to providing local residents with quality cannabis products and care,” Harborside CEO Peter Bilodeau told Benzinga.

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Vertically integrated cannabis company Hollister Biosciences Inc. (CSE: HOLL) announced a license agreement with actor, comedian and cannabis icon Tommy Chong to produce and sell Tommy Chong’s Cannabis Full Spectrum Elixir 1: 1. “data-reactid =” 43 “> Vertically integrated cannabis company Hollister Biosciences Inc. (CSE: HOLL) announced a license agreement with actor, comedian and cannabis icon Tommy Chong to produce and sell Tommy Chong’s Cannabis Full Spectrum Elixir 1: 1.

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Cannabis company Acreage Holdings, Inc. (CSE: ACRG) (OTC: ACRGF) signed several financing agreements. These include a $ 100 million credit facility with an institutional lender, a $ 50 million private loan transaction to support cash collateral for the credit facility; and a private placement of $ 30 million special warrants with the option to receive additional $ 20 million warrants. “data-reactid =” 48 “> Cannabis companies Acreage Holdings, Inc. (CSE: ACRG) (OTC: ACRGF) signed several financing agreements. These include a $ 100 million credit facility with an institutional lender, a $ 50 million private loan transaction to support cash collateral for the credit facility; and a private placement of $ 30 million special warrants with the option to receive additional $ 20 million warrants.

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "New Zealand cannabis company Helius Therapeutics has raised NZ $ 20 million ($ 12.8 million) to support facility expansion and clinical trials. “data-reactid =” 49 “> New Zealand cannabis company Helius Therapeutics has raised NZ $ 20 million ($ 12.8 million) to support facility expansion and clinical trials.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The Alkaline Water Company (NASDAQ: Wter) launched its own line of topical CBD products, including balms, bath salts, lotions, essential oils and ointments, all made from full spectrum hemp under the A88CBD brand. “data-reactid =” 50 “> The Alkaline Water Company (NASDAQ: WTER) launched its own line of current CBD products, including balms, bath salts, lotions, essential oils and ointments, all of which are made from full spectrum hemp under the brand name A88CBD.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Grown Rogue International Inc.s & nbsp;(OTC: GRUSF) (CSE: GRIN) The GR Michigan, LLC subsidiary has signed a purchase agreement with Golden Harvests, LLC, which grants the company the right to acquire a 60% majority interest in Golden Harvests pending approval from the city and state. “Data reactid =” 51 “>Grown Rogue International Inc.’s (OTC: GRUSF) (CSE: GRIN) GR Michigan, LLC has signed a purchase agreement with Golden Harvests, LLC that grants the company the right to acquire a 60% majority interest in Golden Harvests pending approval from the city and of the state.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Lifestyle cannabis brand based in Arizona HUXTON launched in Nevada. HUXTON’s offerings were brought into the region in collaboration with Flower One, their full-service partner for brand fulfillment. “Data-reactid =” 52 “> Lifestyle cannabis brand based in Arizona HUXTON launched in Nevada. HUXTON’s offerings were brought into the region in collaboration with Flower One, their full-service partner for brand fulfillment.

“We couldn’t be more excited to welcome Nevada cannabis enthusiasts to our HUXTON tribe. Our award-winning prerolls are sure to give local consumers the best possible time and help them combine their special moments with the right experience,” said Chelsea Johnson, co-founder of HUXTON.

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Joy Organics announced its second year Day of joy for February 18th. The event will combine two of Joy Organics’ greatest values: compassion and holistic wellbeing. The Fort Collins CBD brand not only offers its customers a 40% discount on all their purchases, but also donates a generous portion of its sales to strengthen South Sudanese refugees through a primary school meal program. For every order on Joy Day, Joy Organics donates meals to a displaced child for one month. “Data-reactid =” 54 “> Joy Organics announced its second year Day of joy for February 18th. The event will combine two of Joy Organics’ greatest values: compassion and holistic wellbeing. The Fort Collins CBD brand not only offers its customers a 40% discount on all their purchases, but also donates a generous portion of its sales to strengthen South Sudanese refugees through a primary school meal program. For every order on Joy Day, Joy Organics donates meals to a displaced child for one month.

“This is very important to me and I couldn’t think of a better way to celebrate my birthday,” said Joy Smith, founder and CEO of Joy Organics.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "SLANG worldwide (CSE: SLNG) (OTC: SLGWF) announced that it has expanded its cookie partnership to the Oregon market. Following the announcement of the SLANG x Cookies partnership in Colorado, the two companies are pleased to announce the further growth of their partnership. Under the direction of rapper and entrepreneur Berner from the Bay Area, Cookies offers a robust selection of popular products and contemporary varieties such as Girl Scout Cookies and Gelato. This partnership expands SLANG’s product offering in several categories in Oregon while further diversifying the portfolio. “Data reactid =” 56 “>SLANG worldwide (CSE: SLNG) (OTC: SLGWF) announced that it has expanded its cookie partnership to the Oregon market. Following the announcement of the SLANG x Cookies partnership in Colorado, the two companies are pleased to announce the further growth of their partnership. Under the direction of rapper and entrepreneur Berner from the Bay Area, Cookies offers a robust selection of popular products and contemporary varieties such as Girl Scout Cookies and Gelato. This partnership expands SLANG’s product offering in several categories in Oregon and further diversifies the portfolio.

“Berner and the Cookies team are real advocates of cannabis culture because they inspire a new generation of cannabis users through quality and a real passion for the plant. At Slang, we look forward to expanding our relationship with brands like Cookies, whose team, through collaboration and inclusiveness, is leading the industry by example, as evidenced by the diversity of its customers and supporters. We believe that our partnership will expand this vision and success, ”said Peter Miller, CEO of SLANG Worldwide.

Medical Marijuana, Inc. has completed and published a clinical trial in Mexico at EC Neurology (ECNE), an international journal in the neurosciences, using Real Scientific Cannabis Oil-X cannabidiol oil (CBD). The results of the study show that RSHO-X can be promising for pediatric patients with drug-resistant epilepsy.

“We are encouraged by the results of the study, but we look forward to continuing to research on the subject. Because the World Health Organization believes that CBD is generally well tolerated with a good safety profile, we have seen an increase in approved results found cannabis research around the world and we are excited to see how much progress in cannabis research will be achieved this year, “said Dr. Stuart Titus, CEO of Medical Marijuana, Inc.

CBDCapitalGroup, an investment and scaling company for CBD nutraceuticals, has started adding its portfolio companies, including Medix CBD, to the first program to measure CBD effectiveness using the Qualitative Short Form (SF) -36 Health Survey.

The SF-36 is used by managed care organizations and Medicare for the routine monitoring and evaluation of care outcomes in adult patients. CBDCapitalGroup is adding another portfolio company, Mana Botanics, to the survey this week and wants to strengthen the legitimacy of the cannabis industry by making the survey an industry standard.

“This could be huge for the industry as a whole, as it suggests that consumers who take CBD for more than three months (over 13 weeks) will achieve higher quality of life values. Further research is being carried out in other companies to confirm this , and we’ll be releasing more. ” Data in the coming months, “said David Metzler, CEO of CBDCapitalGroup.

The preliminary results of the survey include:

  • A 5.42% increase in quality of life after taking Medix CBD products for at least four weeks
  • 59.1% of the participants indicated “fear” as a condition for taking CBD, followed by “chronic pain” (50.81%), “insomnia” (42.67%), “acute pain” (22.80 %) and “others” (17.59%).
  • The most common age range for those taking CBD is between 55 and 64 years
  • The majority of people taking CBD are female (60.5%) compared to men (39.5%).
  • The frequency of CBD use was reported as needed (55.29%) and the rest reported daily use of CBD (44.71%).

Top stories of the week

Check out the top Benzinga cannabis stories this week:

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Check out this and many other cannabis stories at Benzinga.com/cannabis“data-reactid =” 74 “>Check out this and many other cannabis stories at Benzinga.com/cannabis

calendar of events

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "February 24-25: The first gathering of cannabis – Entrepreneurs and investors in North America Benzinga Cannabis Capital Conference“data-reactid =” 76 “> February 24-25: The first meeting of cannabis entrepreneurs and investors in North America, the Benzinga Cannabis Capital Conference, will travel to Miami for the sixth time in 2020.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The conference that is taking place February 24-25 at Fontainebleau Miami Beach, creates an ideal framework for participants to learn from individuals and experts who are driving the cannabis space amid regulation, legalization, and industry changes. “data-reactid =” 77 “> The conference that is taking place February 24-25 at Fontainebleau Miami Beach, creates an ideal framework for attendees to learn from individuals and experts who are driving the cannabis space amid regulation, legalization, and changes in the industry.

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "March 13-22: SXSW is leaving Austin Bord, Texas and Features & nbsp; a CannaBusiness Track for the second time. You can find details here. “Data-reactid =” 78 “> March 13-22: SXSW disembarks in Austin, Texas and offers a CannaBusiness Track for the second time. You can find details here.

17th-18th April: The 10th CannaGrow Expo, the ultimate event dedicated to the art and science of cannabis cultivation, comes to Chicago, Illinois, and offers more than 25 cultivation-oriented training sessions led by world-class breeders through two action-packed breeders, endless days Networking with cultivators from all over the world and an over 115-strong exhibition hall with the latest tools and technologies for growing and producing cannabis.

“A big difference between CannaGrow Expo and other industry events is that we focus on providing high quality, thorough training for cannabis producers. Many conferences discuss the basics of the industry or pitch products and services, but CannaGrow offers training that supports leading growers, breeders and manufacturers, ”said Jessi Rae, COO of CannaConnections, manufacturer of CannaGrow, DispensaryNext and Science of Cannabis Summit.

“Patent your genetics. Discover the latest cultivation and extraction techniques. Expand local activities to serve a global market – maintaining product integrity and promoting the craft of cannabis growing. “The CannaGrow Expo is open to anyone 18 years and older and is aimed at cannabis breeders, breed managers, extractors and enthusiasts to learn about the latest technologies, tools and techniques for growing cannabis.

Passport prices range from $ 69 to $ 500. The event takes place at the Marriott Marquis Chicago. Further information and the purchase of passports can be found at https://cannagrowexpo.com.

May 1st to 3rd: The CBD Show returns to the UK with three full content days, more than 50 speakers, specialized workshops and more than 100 exhibitors from all over the world. The first and second days of the event, which takes place in the London Olympia, are dedicated to the business side of things. The third day is open to the public sector to explore the latest offerings in the CBD market. Register here for your tickets.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Main picture by Ilona Szentivanyi. Copyright: Benzinga.“data-reactid =” 84 “>Main picture by Ilona Szentivanyi. Copyright: Benzinga.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "See more from Benzinga“data-reactid =” 85 “>See more from Benzinga

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "© 2020 Benzinga.com. Benzinga does not offer investment advice. All rights reserved.“data-reactid =” 90 “>© 2020 Benzinga.com. Benzinga does not offer investment advice. All rights reserved.

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