Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for the week of January 13th – 19th, 2020.
Without further ado, let’s get started.
After 2019’s market shakeout, analysts say the right U.S. and Canadian Cannabis Stocks will rise in 2020. These Pot Stocks could deliver major gains by taking advantage of their financial position and competitive edge in 2020.
TransCanna Holdings (CSE: TCAN) (OTC: TCNAF) (FSE: TH8) announced that its December revenue grew 20% month over month with net income from operations accounting for 16%. TCAN stock has been on a tear over the past 2.5 months soaring as much as 436%. The stock has recently pulled back and could be setting up for another large move to the upside.
Medmen Enterprises (CSE: MMEN) (OTCQX: MMNNF) (FRA: 0JS) is rumoured to be offering $0.50 on the dollar to owners of MedMen debt and telling certain service providers that they aren’t able to pay outstanding bills.
Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) management remains very confident in the underlying beverage science and in its ability to scale production and deliver high quality, differentiated cannabis beverages to the market. However, the scaling process is not complete, and the company is extending its to-market date while the internal teams complete the final steps.
Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E) announced Earnings for the second quarter ended November 30, 2019, with the company recording its third straight quarter of positive adjusted EBITDA. The company also lowered its fiscal 2020 earnings forecast.
Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) announced the upsizing and closing of a senior secured term loan facility from a syndicate of lenders totalling US$300 million. The notes bear interest at a rate of 13.0% and will not dilute the company’s shareholders.
Two of the largest Marijuana Stocks in the industry added further confirmation that the sector has bottomed out. Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) and GW Pharma (NASDAQ: GWPH) are sector bellwethers, meaning they are leading indicators and will usually move first before the rest of the group follows suit. Learn more about the Inverse Head and Shoulders chart pattern and the formula used for calculating price targets.
The following four Pot Stocks should be among the most profitable this year: Trulieve Cannabis (CSE: TRUL) (OTCQX: TCNNF), Innovative Industrial Properties (NYSE: IIPR), The Valens Company (TSXV: VLNS) (OTCQX: VLNCF) and Harvest Health (CSE: HARV) (OTCQX: HRVSF).
Two of Canada’s premier licensed producers (LPs) released quarterly earnings this week. Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E) reported earnings for Q2 2020 while Organigram Holdings (TSX: OGI) (NASDAQ: OGI) (FRA: 0OG) released its first-quarter 2020 financial results. Here’s what analysts had to say about APHA and OGI’s financial results.
Organigram Holdings (TSX: OGI) (NASDAQ: OGI) (FRA: 0OG) announced earnings for the first quarter ended November 30, 2019, highlighted by a 102% increase in net revenue. This reliable technical indicator signalled the reversal of OGI’s downtrend 2 days before the stock’s big breakout.