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typical trick ... when the earning is very bad like this one ... they decided to publish results in the morning , naive people come to conclusion that the earning is good ! ... and they buy , look what happened to the price soon ..
what should we expect tomorrow ? ... big sell-off by the end of the day ? ............ do you know what to do ?
I went again to the weed store called Spiritleaf in Ottawa and asked the same question : how popular are products of CGC ? the answer was the same - not popular at all .... earning on Thursday , do you know what to do ? ... the biggest problem of CGC is DEBT and no ability to pay it back , watch when banks will say - no more business !
Ah a dealer for me is me, member of 3 unlicensed medical Compassion Clubs that had won court rulings before legalization. I will tell you I legally grow better cannabis then any of the stockmarket weed executives without debt and about 38 cents a gram, I am a daily medical user and the huge buyers are priced out of the market at $5-$7 a gram, so this is why they all bankrupt and insolvent, you all misread weed from the beginning and hyped a product that they know nothing about cannabis and don't buy or use weed. you have been wrong about it all, even though you got out early.
Canopy Growth’s planned entry into the U.S. marijuana market has hit another hurdle – this time over the cannabis producer’s ties to its largest investor.
Fitch Ratings downgraded its credit assessment of the Ontario, Canada-based Canopy to CCC-, one of its lowest ratings.
CCC carries “substantial credit risk” such that default is a real possibility.
https://mjbizdaily.com/fitch-chops-canopy-rating-citing-cannabis-producers-constellation-link/
DEA Says ‘THCA Does Not Meet The Definition’ Of Legal Hemp As Congress Weighs Cannabinoid Recriminalization In Farm Bill
If anyone understands Decarboxylation of cannabis you would see the Governments plan, they will only allow what is defined as hemp, Male plants with less then .3 milligrams of THC in the raw plant, this means the products will not be in smokeable form, and a synthetic production
Does your dealer give you a portion of his profit? Mine does. The black market is dying because the only reason the prices ever got so high was because of prohibition. How is the consistency? One thing I really like about legal weed in Canada. I can get the same thing twice. Can not tell you how frustrating it was to get a strain I really liked and could never get it again. Small growers should be like wineries and big operations just be McWeed. More people get the medicine makes me happy
only one week to CGC Earning ( May 30 ) .... another big loss is coming ... do you know what to do ?
Stock exchanges not likely to budge under Schedule III
Schedule III won't make cannabis federally legal in the eyes of the stock markets.
While many things likely will change if cannabis is rescheduled from a Schedule I drug to Schedule III under the Controlled Substances Act, the stance of the top stock exchanges in the U.S. probably won’t be one of them.
Speculation has run rampant that rescheduling could open up the New York Stock Exchange and the Nasdaq marketplace to domestic cannabis companies under such a change. But at least one expert says, not so fast.
Why the where matters
Currently, most American-based cannabis companies can only trade on the Over-the-Counter, or OTC, Markets in the U.S. due to cannabis being federally illegal. As a result, they often turn to Canadian exchanges like the Canadian Securities Exchange (CSE) or the Toronto Stock Exchange (TSX).
The drawback to being listed on the OTC Markets is that many institutional investors won’t invest in OTC-listed companies. This limits the market for these stocks. Similarly, the Canadian exchanges are much smaller than the U.S. markets, which limits the financial benefits.
Slow the roll
Ride-or-die cannabis investors have been hoping to get the stocks uplisted to the NYSE or Nasdaq based on rescheduling – but that might be wishful thinking.
Neither the NYSE nor the Nasdaq would comment on whether they would open up to cannabis stocks upon rescheduling. And according to Nasdaq’s published rules and regulations for listings, many cannabis operators in the U.S. would still be tagged with federally illegal operations despite rescheduling, which would keep them ineligible for listing.
“Schedule III, even when final, will not lead the New York Stock Exchange or Nasdaq to list U.S. plant-touching companies. Those companies will continue to be violating the Controlled Substance Act,” Eric Berlin, a partner at the legal firm Dentons told Green Market Report.
“Instead of selling an illegal controlled substance illegally, they will be selling a legal controlled substance illegally. And the problem is that none (of those products) will have the required DEA registrations,” he added. “And the DEA has said that it does not intend to give any registrations or to register any party that is simultaneously violating federal law.”
Berlin noted that the exchanges probably have to power to lean on banks to clear the stocks if it wanted the listings, but the risk outweighs the reward. An updated Cole Memo would also be insufficient to give them comfort. Under former President Donald Trump, Attorney General Jeff Sessions rolled back gains by the Obama administration around cannabis. If Trump is reelected, it could happen again.
Stocks on the rise
Investors, though, seem unbothered by this pesky detail, and the price of cannabis stock shares has popped.
The AdvisorShares Pure US Cannabis ETF was selling at roughly $7.36 before the news of rescheduling broke; it popped to a 52-week high of $11.36 just after. It was lately selling at $9.21, which is still up 25% from the pre-announcement price.
Berlin believes the rising stock valuations are warranted as the tax benefits to cannabis companies will be substantial under Schedule III. However, uplisting is much further in the distance.
“I think that this is an area that they are waiting for greater congressional action,” he said. “And the fact is that I don’t think Schedule III gives them the legal path forward, quite frankly.”
And you are telling me I'm losing Benefit.
2 Oz's of Mids, for $100 no shipping cost me another $10 for a gram of Hash Free shipping not losing one bit. Not from stockmarket weed
I believe Constellation is using its controlling interest in Canopy to hedge its alcohol biz. They knew what was coming so they will just pivot to weed bevs. I still will not buy either company. There are others that are better positioned and better managed
I disagree with you on the pricing Awesome. In Canada we can now buy a gram of live rosin for $15 and an ounce for $140 the quality is getting better and better I know many folks who do not even bother to grow their own any more. It is not worth their time. The prices the Ontario store charges is much much lower than my guy used to and everyone in the country can now grow their own (not sure about Quebec they have different rules) The world is better because we invested in this company. I have not owned shares here since they fired Bruce but I wish everyone the best here. Your stubborn streak stopped you from benefitting from the rise on the canadian side. That was just the appetizer. US will pop and the first stocks to rise will be the ones on the naz. There is still time to get in and benefit from the industry you helped build. My choices these days are hiti and tilray and the cannabist for a US play not super loyal to any but the first inning is under way. You have been a dedicated defender of the space for years. Why not let get a few shares while we retailers are the only ones who can access them and use the proceeds to support local? I hope you are doing well and I can not apologize for making cannabis available for more people. This stuff will heal the world. I would not touch canopy now tho, sadly I think their best days are behind them.
"CGC Earnings Date
Canopy Growth Corporation Common Shares is expected* to report earnings on 05/30/2024 before market open. The report will be for the fiscal Quarter ending Mar 2024. According to Zacks Investment Research, based on 4 analysts' forecasts, the consensus EPS forecast for the quarter is $-0.33. "
=========================================================================================================================
this company is a joke ... over 10 years on the market , not EVEN ONE POSITIVE EARNING .... ONLY LOSSES
CGC carries “substantial credit risk” such that default is a real possibility
Canopy Growth’s planned entry into the U.S. marijuana market has hit another hurdle – this time over the cannabis producer’s ties to its largest investor.Fitch Ratings downgraded its credit assessment of the Ontario, Canada-based Canopy to CCC-, one of its lowest ratings.
It’s the second time in six months that Canopy’s credit rating has come under scrutiny from Fitch.
The New York-based ratings company said it believes the strategic link between Canopy’s biggest investor, alcohol giant Constellation Brands (CBI), and the licensed cannabis producer “has materially diminished” after Canopy announced its plan to speed its entry into the U.S. THC market.
“As such, Canopy’s ratings no longer benefit from a one-notch uplift from its standalone credit profile,” Fitch said.
In a statement to MJBizDaily, a Canopy spokesperson said Constellation Brands remains vested in Canopy’s success as a major shareholder “and fully supports this strategy as the best way to position Canopy for near- and long-term success.”
The spokesperson added that Canopy is making the move to take its destiny into its own hands by fast-tracking its entry into the U.S. marijuana market and taking full ownership of its investments there.
Constellation executives touched on their commitment to Canopy and the cannabis industry in a conference call with analysts on Oct. 6.
After being asked how long Constellation is willing to “wait” for U.S. legalization and how he views the alcohol company’s stake in the cannabis producer changing, Constellation CEO William Newlands said, “I wouldn’t expect you to see the size of our investment in that change.”
Newlands admitted he “failed miserably” in predicting the pace of U.S. legalization but also said he’s “hopeful” there will soon be progress.
In its latest update, Fitch said it downgraded the long-term issuer default ratings for Canopy Growth from CCC to CCC-.
Fitch also lowered the credit rating of the senior secured term loan facility from B/RR1 to B-/RR1.
Fitch’s action comes less than a week after Canopy announced a plan to speed its entry into the American market.
Rather than waiting for the United States to legalize at the federal level, Canopy launched Canopy USA, which would purchase the three American marijuana businesses Canopy had agreed to buy after the U.S. ended prohibition, pending various approvals.
Canopy’s proposal calls for Canopy USA, not Canopy Growth, to own the assets, and the Canadian business would hold nonvoting, exchangeable shares in Canopy USA.
“Fitch believes the transaction, as proposed, is subject to material execution risks including regulatory, shareholder and exchange approval,” the credit ratings agency said.
Stock exchange risk
Fitch isn’t the first to raise concerns about the deal.
The New York-based Nasdaq stock exchange objects to Canopy’s plan to eventually consolidate the financial results of Canopy USA.
By contrast, the Toronto Stock Exchange (TSX) suggested that the proposed structure is compatible with the exchange’s rules.
Neither the TSX nor the Nasdaq would answer specific MJBizDaily questions.
“Canopy’s credit agreement contains affirmative covenants to comply with all policies and listing requirements of public securities exchanges,” the Fitch notice acknowledged, adding: “A failure to remain listed on at least one exchange would be a condition for an event of default.”
Fitch noted that Canopy USA would need to maintain funding separate from its parent company.
t’s the second time in six months that Canopy’s credit rating has come under scrutiny from Fitch.
The New York-based ratings company said it believes the strategic link between Canopy’s biggest investor, alcohol giant Constellation Brands (CBI), and the licensed cannabis producer “has materially diminished” after Canopy announced its plan to speed its entry into the U.S. THC market.
“As such, Canopy’s ratings no longer benefit from a one-notch uplift from its standalone credit profile,” Fitch said.
In a statement to MJBizDaily, a Canopy spokesperson said Constellation Brands remains vested in Canopy’s success as a major shareholder “and fully supports this strategy as the best way to position Canopy for near- and long-term success.”
The spokesperson added that Canopy is making the move to take its destiny into its own hands by fast-tracking its entry into the U.S. marijuana market and taking full ownership of its investments there.
Constellation executives touched on their commitment to Canopy and the cannabis industry in a conference call with analysts on Oct. 6.
After being asked how long Constellation is willing to “wait” for U.S. legalization and how he views the alcohol company’s stake in the cannabis producer changing, Constellation CEO William Newlands said, “I wouldn’t expect you to see the size of our investment in that change.”
Newlands admitted he “failed miserably” in predicting the pace of U.S. legalization but also said he’s “hopeful” there will soon be progress.
In its latest update, Fitch said it downgraded the long-term issuer default ratings for Canopy Growth from CCC to CCC-.
Fitch also lowered the credit rating of the senior secured term loan facility from B/RR1 to B-/RR1.
Fitch’s action comes less than a week after Canopy announced a plan to speed its entry into the American market.
Rather than waiting for the United States to legalize at the federal level, Canopy launched Canopy USA, which would purchase the three American marijuana businesses Canopy had agreed to buy after the U.S. ended prohibition, pending various approvals.
Canopy’s proposal calls for Canopy USA, not Canopy Growth, to own the assets, and the Canadian business would hold nonvoting, exchangeable shares in Canopy USA.
“Fitch believes the transaction, as proposed, is subject to material execution risks including regulatory, shareholder and exchange approval,” the credit ratings agency said.
Stock exchange risk
Fitch isn’t the first to raise concerns about the deal.
The New York-based Nasdaq stock exchange objects to Canopy’s plan to eventually consolidate the financial results of Canopy USA.
By contrast, the Toronto Stock Exchange (TSX) suggested that the proposed structure is compatible with the exchange’s rules.
Neither the TSX nor the Nasdaq would answer specific MJBizDaily questions.
“Canopy’s credit agreement contains affirmative covenants to comply with all policies and listing requirements of public securities exchanges,” the Fitch notice acknowledged, adding: “A failure to remain listed on at least one exchange would be a condition for an event of default.”
“Fitch will continue to review Canopy’s corporate structure and exposure to U.S. THC assets that are federally illegal and whether that increases rating concerns,” the ratings company said.
Fitch also noted “significant execution risks” in Canopy’s premiumization strategy and an uncertain path to profitability, highlighting significant lost market share in Canada.
“This has delayed production of a consistent, higher-quality supply at commercial scale and generated weak operating results with an uncertain path to profitability,” according to the Fitch note.
“Canopy hopes to counter these issues with a change in its genetics and cultivation strategy to higher quality cannabis with the right attributes … for the premium and mainstream flower, pre-rolls, edible and vape markets, while using the value segment as an outlet strategy.”
On that point, Constellation’s executives said during the analyst conference call they continue to believe that Canopy’s focus on “premiumizing” its cannabis branded portfolio in Canada “is appropriate,” and they remain supportive of Canopy’s efforts to strengthen their emerging consumer packaged goods brand distribution.
Fitch said further negative rating actions could be taken if the company’s “premiumization” cultivation strategy fails, or if it pursues a repayment of the remaining 2023 notes that Fitch considers a distressed debt exchange, if liquidity appears constrained, such that a default is probable.
Canopy shares trade as WEED on the Toronto Stock Exchange and as CGC on the Nasdaq.
https://mjbizdaily.com/fitch-chops-canopy-rating-citing-cannabis-producers-constellation-link/
tomorrow ( Friday ) price will drop ........ and the same game continues
If I was an investor in Constellation brands I would be very upset. 5 billion bought them the option to buy some mediocre American cannabis companies when they had control of a company situated to dominate the global cannabis market. It has been sad to watch. I am grateful for their money tho. It has made my life very smooth.
I went to the store in Ottawa called " Spiritleaf " ... and asked how popular are the products of Weed , and the answer was - no demand for Weed ,
There is nothing bigger than legalizing weed in the US. Big pharma knows this. It shifts people's minds into herbal medicine mode. " If pot does all these wonderful things then what about other herbal remedies " This will be the new mindset. Plus states like VA sell alcohol and lost $100,000,000 this year. They won't admit why. But it's because we can now grow our own weed in VA.
So it was all a hoax as I said to make pot stocks run so congress could make bank and cash out in my opinion. DEA now is not rescheduling weed. They did not sign the bill. probably being threatened by big pharma.
It just did it again. Shib rose and CGC just fell right before the opening bell
Seems to be some correlation with the price of Shiba Inu and Bitcoin. When crypto is on the way up this is on the way down. Been doing that for a while now. Seems like the money is being arbitrated between the two
Canadian cannabis insolvencies persist in 2023 amid industry woes
Oh I am correct
Financially distressed cannabis companies continued to seek refuge in Canadian insolvency law in 2023, although such insolvency filings under one statute declined from 2022.
This year’s cannabis insolvencies included big names such as retailer Fire & Flower and producer Aleafia Health, highlighting the industrywide struggle to keep operating in the face of low marijuana prices, high taxes and trouble accessing new funding.
In the cannabis sector, a number of CCAA cases have featured a debtor-in-possession loan from a would-be buyer, who puts in a stalking-horse bid to buy the insolvent company or some of its assets.
Notable Canadian cannabis CCAA filings in 2023 included:
Major retail chain Fire & Flower Holdings, which was acquired through insolvency proceedings by privately held retailer Fika Cannabis.
Producer Aleafia Health, which is in the process of being purchased by U.S. multistate cannabis company Red White & Bloom Brands.
Phoena Group, risen from the ashes of predecessor company CannTrust, which faced a major scandal involving growing plants in unlicensed areas of its facility.
Other CCAA filings involving marijuana companies and cannabis-related entities this past year included:
Chalice Brands, a Canadian company with cannabis assets in Oregon.
Investment company Plant-Based Investment Corp., previously known as Cannabis Growth Opportunity Corp.
Capcium, which created softgel capsules for the cannabis industry and other sectors.
Beverage company BioSteel Sports Nutrition, owned by cannabis company Canopy Growth Corp.
https://mjbizdaily.com/canadian-cannabis-insolvencies-persist-in-2023/
Really? I even bought more shares , sorry but you are totally wrong about canopy:))))
So funny, some people (investors) have no idea about cannabis in any way, If you don’t get out of canopy,…you will lose your pants
I dont need too buy anything from your investment money, chronic consumers cant afford too buy over priced, third party markups and taxes on top, this is why the stockmarket weed corporations are bankrupt and in credit protection, they are behind millions in tax debt, isn't that the main reason for government legalization ?
So funny, some people have no idea about stockmarket. If you don’t like canopy, leave…
I've never been more pissed off about a stock dropping before in all of my 10 years trading now. Couldn't set a stop loss due to being out of day trades. Got wrecked for 30% and I don't see this coming up for a long time. Only went in big due to moon market running his mouth 2 nights ago. If I didn't happen to have that POS come up in my feed I would have only been in for 30 shares. Never pumped a stock harder before in his life just to watch it tank 40% in 2 days. It's now time for pot companies to produce a profit. It's pretty obvious they have been hiding behind the DEA rescheduling for a long time. It's like a curtain that unveils the fact that these companies are worth more closed down than they are open for business. Nowhere to hide now. Show me the $$$$
I guess , a financial report takes place at the end of May ... if this time report is bad , CGC will turn into penny stock ...
Why is this stock at $10?? Seems anything over .10 is way overvalued here. Company is a complete joke and it's financials are completely abysmal.
Now tanked even more. Is this a pink sheet penny stock? Sure trades like one.
This stock tanked 40% in two days. Pump and dump by the feds to enrich themselves
What an ignorant post
my long stock positions on Weed (CGC) and Tilray, and related Put options made my portfolio jump 26,000 dollars yesterday when Weed went up to 15 dollars per share, and Tilray climbed too....I am all over Weed having sold PUT options when the stock fell to about 2.65 from 5 dollars on the 1/10 Reverse split a few months ago...it seems that Weed, and Tilray have achieved "meme" status after the shorters had a field day for years now...shorts will pay bigtime to cover as Jim Chanos made millions as a short seller... he recently gave up and liquidated his short hedge fund because he said "the game has changed on wall street"... meaning that contrary investors buy heavily shorted stocks and trap these mofos that game the markets.... dont get caught shorting Coop, as the float is very small, and most of Coop stock is held by "strong hands".... Lodas
Looks like pot stocks may be done. This hit today will knock the wind out of people's sails. Just more theatrics and nothing really to show for it. More fake legalization bills bring introduced blah blah blah. No banking bill and no legalization. Basically back to square 1
News: Senators File Bill To Federally Legalize Marijuana
Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) and a coalition of other Democratic senators have officially reintroduced a bill to federally legalize marijuana.
One day after the Justice Department announced that it is moving to reschedule cannabis in a historic policy shift, the senators held a press conference on Wednesday to unveil the Cannabis Administration and Opportunity Act (CAOA).
The senators’ move to file the broad legalization measure also comes as industry advocates continue to push to enact narrower legislation focused on cannabis business’s access to banking services.
https://www.marijuanamoment.net/watch-live-schumer-and-other-democratic-senators-file-bill-to-federally-legalize-marijuana/
wow whatta freakin close 20.45 and CGC $15.77
what tomorrow ? .. are we going to watch a big drop ? ... great chance ,
shorted months ago at $ 23( it was $2.3 ) .... generally I am big time ... winner
GOOD JOB !!!!!!! hopefully you're on skid row now ! LoL !
Canopy traded over $1 billion today
CGC trading 2020 Gamestop style
8K is Out and all pot stocks gettin high!!!
https://www.otcmarkets.com/filing/html?id=17491316&guid=f5Q-k6RJAZ_6Jth
How are you making out?
I am in ! .... shorting at $2.3 ( automatically $23 now ) on Sept. 12/24 ....
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