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 February 24th – March 1st, 2020.
Without further ado, let’s get started.
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10. TCI Market Watch: Coronavirus Fears Fuel Record Week on Wall Street, U.S. Pot Stocks Rally to Close Week
Wall Street Fears Over Coronavirus Leads DOW to Fastest 10% Correction in History of Stock Market
U.S. Cannabis Stocks bucked the trend on Friday, rallying in a big way to close the week on a high note. Canadian Pot Stocks, however, lagged the sector with only a small handful closing the day in the green. Click the link below to see Friday’s biggest winners and losers.
READ FULL TCI MARKET WATCH ARTICLE
9. Innovative Industrial Properties Quadruples Net Income in Q4, Revenue Soars 269%
IIP, the First and Only NYSE Listed Cannabis REIT Posted Impressive Q4 and Full-Year 2019 Earnings
Innovative Industrial Properties (NYSE: IIPR) reported earnings Thursday for the fourth quarter and year ended December 31, 2019. IIP posted very strong results, which included a 293% increase in Q4 2019 net income.
READ FULL IIPR Q4 EARNINGS ARTICLE
8. Acreage Holdings Reports Q4 and Full-Year 2019 Earnings, Revenue Doubles Year-Over-Year
Q4 and FY 2019 Pro Forma Revenue Came in at $43.6 Million and $155.5 Million, Respectively
Acreage Holdings (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), one of the largest vertically integrated U.S. multi-state operators (MSOs) announced earnings today for the fourth quarter and year ended December 31, 2019.
READ FULL ACREAGE Q4 EARNINGS ARTICLE
7. Tilray Sued By Four20 For $130 Million in Damages
It Appears That the Cannabis Sector is Just Firing Up in Terms of Lawsuits
Tilray (NASDAQ: TLRY) (FRA: 2HQ) has been sued by that of 420 Investments Ltd, the firm behind the Alberta-based Four20 retailer. The lawsuit is concerning the previously announced definitive agreement entered between Tilray and Four20.
READ FULL TILRAY LAWSUIT ARTICLE
6. A Bernie Sanders or Elizabeth Warren Victory in November Might Be Awful for Cannabis Stocks
While Big-Time Advocates for Legalizing Marijuana, Sanders and Warren Share No Love for Big Businesses
While Bernie Sanders and Elizabeth Warren have both led the charge to legalize marijuana among the remaining presidential candidates, the end result of either becoming president for Pot Stocks may not be as green as you’d think. That’s because Sanders and Warren have also pushed for the unionization of marijuana businesses and the prevention of industry consolidation.
READ FULL SANDERS & WARREN ARTICLE
5. Laurentian Bank Remains Lukewarm on Aurora Cannabis
Retail Cannabis Sales Had Best Month So Far This Past December according to Stats Canada
As a result, Laurentian Bank Securities analyst Chris Blake sees strong retail sales as having a neutral impact on stocks like Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P). In an update to clients recently, Blake reasserted his “Hold” rating on Aurora stock and $2.00 per share price target.
READ FULL AURORA CANNABIS ARTICLE
4. Constellation Brands Not to Make Additional Cash Contributions to Canopy Growth
Constellation Cited Canopy’s Sizable Cash Position of $2.3 Billion as Justification
Constellation Brands (NYSE: STZ) (FRA: CB1A) does not intend to make additional cash infusions to that of Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) as per the latest regulatory filing by the alcohol giant.
3. Hollister Biosciences to Acquire Premier Cannabis Extract Brand Venom Extracts
Award-Winning Venom Extracts Generated EBITDA of $2.48 Million on Revenue of $16.4 Million Last Year
Hollister Biosciences (CSE: HOLL) (OTC: HSTRF) (FRA: HOB) announced the signing of an LOI to acquire one of Arizona’s premier extract brands Venom Extracts. According to Venom Extracts’ unaudited financial statements, the company generated EBIDTA of CDN $2.48 million on revenue of CDN $16.4 million for the year ended December 31, 2019.
2. 5 Best Cannabis Stocks to Own for the Next Decade
These Stocks Hold the Promise of Long-Term Benefits Despite the Current Cannabis Market Downturn
Marijuana Stocks may be nearing an inflection point. Legal marijuana, in turn, should slowly morph into a more professionally managed industry with a rather bright long-term outlook. Here are five Cannabis Stocks poised to benefit from these ongoing structural and tactical changes over the next decade.
READ FULL LONG-TERM POT STOCKS ARTICLE
1. Pot Stocks Pandemic: Markets Tumble as Coronavirus Fears Intensify, These Stocks Could Get Hit the Worst
Coronavirus Fears Spook Markets, Dow Drops 1,000 Points Leading Wall Street to its Worst Day in 2 Years
Global financial markets were in a state of disarray as growing fears over the rapid spread of the novel Coronavirus (COVID-19) caused Wall Street to suffer its worst trading session in two years. As you could imagine, Cannabis Stocks got hammered. These few Pot Stocks could be in for a very rough year if the situation continues.
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