Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Audited fins anyway. I saw 5 days from Monday. Some saying 15 days. Today or tomorrow could easily be released. .30 coming soon.
The Company plans to file an updated Registration Statement upon its completion of its 2018 audit, anticipated to occur before the end of the first calendar quarter of 2019."
IMO ACB shareholders should just hold and keep holding into the $10 range instead of letting it bounce around 9's 8 and 7's. It would put pressure on whoever is planning to make a deal with ACB to make the deal quicker. We need it to hold in the $10 range so they get nervous. Constellation didn't wait around for CGC to be $15a share. I'm sure whoever is looking to get a piece of ACB isn't also. Altria took a piece of CRON in the 10's also. ACB is next!
CGC and Constellation made a deal when CGC was steady in the $10 range. I feel ACB is going to be in the same situation soon. Someone is going to make a deal before the ACB PPS gets too much higher. When a stock is holding strong in the 10$ range. It's usually because it is proven to be a pretty solid company which ACB is. 1 billion shares plus and is holding strong. $10's are going to be the new ground level in the near future. Expecting a deal really soon before the PPS gets too high IMO. A lot of good things about to happen with ACB all through 2019 and 2020.
ACB is holding very very strong!
The prospectus does not mean that Aurora will offer any securities. If it decides to do so, the company said it will file a related prospectus supplement that outlines the specific terms and the use of the proceeds.
Why It's Important
The filing of the prospectus represents a long-term strategic measure that offers the company flexibility in access to growth capital if or when it's required, Aurora Executive Chairman Michael Singer said in a statement.
Aurora Cannabis Files Preliminary Prospectus To Raise Up To $750M
Today 11:28 AM ET (Benzinga)Print
Canadian cannabis company Aurora Cannabis Inc. (NYSE: ACB) announced the filing Tuesday of a preliminary short-form base shelf prospectus with Canadian securities regulators and a corresponding shelf registration statement on Form F-10 with the U.S. Securities and Exchange Commission.
The Cannabis Capital Conference returns to Toronto April 17-18!
What Happened
The prospectus and registration statement, when made final or effective, will allow Aurora Cannabis to issue stock offerings, debt securities, subscription receipts, units or warrants for an aggregate value of up to $750 million during a period of 25 months, according to the company.
The prospectus does not mean that Aurora will offer any securities. If it decides to do so, the company said it will file a related prospectus supplement that outlines the specific terms and the use of the proceeds.
Why It's Important
The filing of the prospectus represents a long-term strategic measure that offers the company flexibility in access to growth capital if or when it's required, Aurora Executive Chairman Michael Singer said in a statement.
The move comes after the company listed its stock on the NYSE and formed a partnership with activist investor Nelson Peltz, who was appointed as a strategic advisor last month.
Aurora could also use the shelf prospectus for an at-the-market distribution that would involve selling securities by registered dealers on behalf of the company through the stock exchange.
Related Links:
Vertical Companies Closes $58M Series A Financing Round
Aphria Launches Its First CBD Product In Germany
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
If or When required over the next 25 months is the key phrase. IF isn't a guarantee. They just want to shake the trees of the weak hands before some upcoming massive announcement.
What's new. Aurora filed a prospectus Tuesday night to sell $750 million in debt, equity, and other securities over the next 25 months. The stock fell on Wednesday as current investors took into account the potential for dilution.
"We have introduced this option as a prudent and long-term strategic measure to provide us with flexibility in access to growth capital, if or when required, to continue executing on our global expansion and partnering strategy," Executive Chairman Michael Singer said in a statement late Tuesday.
Aurora Cannabis Stock Is Down, but Hopes for a Consumer Company Partnership Remain -- Barrons.com
Today 11:58 AM ET (Dow Jones)Print
By Ben Walsh
Aurora Cannabis stock (ticker: ACB) dropped about 1% Wednesday after the company said it plans to sell $750 million in new securities.
The back story. Shares of the Canadian cannabis company have surged more than 80% so far this year and more than 40% over the last 12 months.
Aurora stock got an immediate boost in March after it said veteran activist investor Nelson Peltz had joined the company as a "strategic adviser."
The company hasn't been able to match the heady valuations of fellow Canadian cannabis growers Tilray (TLRY) and Canopy Growth (ticker: CGC). Its relationship with Peltz shows that management is eager to close the gap.
What's new. Aurora filed a prospectus Tuesday night to sell $750 million in debt, equity, and other securities over the next 25 months. The stock fell on Wednesday as current investors took into account the potential for dilution.
"We have introduced this option as a prudent and long-term strategic measure to provide us with flexibility in access to growth capital, if or when required, to continue executing on our global expansion and partnering strategy," Executive Chairman Michael Singer said in a statement late Tuesday.
Looking ahead. Singer's reference to a "partnering strategy" is likely to increase expectations among investors that Aurora will announce a partnership with a large consumer-packaged-goods company.
The company's new relationship with Peltz, who has a long history of work in the consumer-packaged-goods space, has already stirred speculation that Aurora will form a partnership with a major consumer company, most likely for a cannabidiol, or CBD, offering.
Write to Ben Walsh at ben.walsh@barrons.com
(END) Dow Jones Newswires
April 03, 2019 11:58 ET (15:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
ACB will likely be owned by ALtria when THC is federally legalized IMO.
Mattt……. I'm not selling until I get a quality PR..
The final tree shaking before the big Nelson Peltz inspired partnership announcement next week most likely.
This is easier.. Sorry I am stoned....
https://seekingalpha.com/article/4252291-revenue-streams-big-performers-aurora-cannabis-time
previous 3 post are the same article.
The bottom line to me is Aurora is positioned well for short- and long-term sales, and even when the major markets mature and slow down in the pace of growth, I believe these other market segments will make up for much if not all of that slowing sales.
This is another reason investors should think in terms of the long-term with Aurora, and not simply look for quick market moves to gain a windfall.
Further out these smaller market segments will be a very important driver or revenue and profits - both in sales and percentage of sales.
For a number of years the performance of Aurora will be associated with a product; later on services will become the key to further growth, similar to where Apple (NASDAQ:AAPL) is at today.
That's actually a good thing in my opinion, as we want Aurora to focus on its primary markets at this time while continuing to build out its secondary and tertiary markets for the long haul.
In the short-term it would be a disaster if Aurora were to maintain sales in its smaller segments at similar percentages as they are today, as it would reflect weakness in the recreational and medical pot markets.
The only surprise I would want to see is if it was able to meet revenue expectations in its major markets and increase sales in the other segments, to the point of keeping percentages near where they are today. It would be very surprising if that were to happen.
The long story
Where it gets interesting to me for these smaller segments is the value they will add to the company as the cannabis market starts to mature in the years ahead.
Eventually it will approach a ceiling, and when that happens the companies serving the overall cannabis market beyond direct sales will outperform those that focus almost entirely on retail or medical cannabis markets.
Understand that when I talk about the long-term I'm referring to up to ten years out and more.
There are a lot more countries that will legalize medical and recreational pot going forward, and until those markets emerge and demand is met, the growth cycle for Aurora Cannabis will continue for a number of years in the major segments.
Conclusion
Aurora Cannabis will go through a couple of cycles in regard to its ancillary segments and the percentage of sales they represent. Over the next several years I expect the company to grow sales at a very high pace.
At the same time, the various smaller market segments will continue to grow, but not at near the pace medical and recreational cannabis will.
Once those markets start to slow down, we'll see that reverse and the smaller segments become a bigger percentage of overall sales. It wouldn't even surprise me to see them, as a whole, approach as much as 30 percent of sales in the future.
Again, I'm talking about a decade or so here, not a few years out.
Other Revenue Streams That Could Be Big Performers For Aurora Cannabis Over Time
Apr. 2, 2019 7:55 AM ET | About: Aurora Cannabis Inc. (ACB)
Gary Bourgeault
Long only, research analyst, portfolio strategy, media
(9,839 followers)
Summary
Aurora Cannabis also outperforms competitors in smaller market segments.
How to look at Aurora's ancillary income streams.
Why this bodes well for the long-term success of the company.
Source: Seeking Alpha
Most investors know about the explosive potential associated with recreational and medical cannabis for Aurora Cannabis (ACB), but fewer focus on or understand the long-term benefit the company will receive from its current smaller market segments it's competing in.
In this article we'll look at the various tertiary segments Aurora has been quietly building up and how to take them into consideration for the short and long-term.
Other market segments and how they've been doing
In its second fiscal quarter Aurora Cannabis generated C$6.6 million in sales from its ancillary businesses, which include analytical testing services, greenhouse engineering and construction company Larssen and patient counseling services, among others.
The revenue from those segments accounted for about 12.2 percent of total sales in that quarter net of excise tax sales. Overall sales in the latest reporting period came in at C$47.6 million.
I believe this revenue will continue to grow consistently for many years in the future, but in the short-term it could appear it is stalling for a couple of reasons.
How to view the smaller market segments
At this particular stage of soaring growth in medical and recreational cannabis sales, these other market segments are going to appear to be losing ground because of the inevitable decline in revenue as a percentage of total sales.
Investors need to ignore it in the short-term and look at sales in these smaller market segments rather than percentages. As the company continues to rapidly increase production and sales, its likely ancillary revenue will decline into the single digits in relationship to percentage of sales.
Korea Investment CORP Takes $228,000 Position in Aurora Cannabis Inc (NYSE:ACB)
Posted by Vince Mercandetti on Apr 2nd, 2019 // No Comments
Korea Investment CORP purchased a new stake in shares of Aurora Cannabis Inc (NYSE:ACB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 45,948 shares of the company’s stock, valued at approximately $228,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Griffin Asset Management Inc. acquired a new position in shares of Aurora Cannabis during the 3rd quarter worth approximately $128,000. QCI Asset Management Inc. NY lifted its holdings in Aurora Cannabis by 4.8% in the fourth quarter. QCI Asset Management Inc. NY now owns 86,159 shares of the company’s stock valued at $427,000 after acquiring an additional 3,913 shares during the last quarter. Virtu Financial LLC acquired a new position in Aurora Cannabis in the fourth quarter valued at approximately $1,355,000. Boston Advisors LLC acquired a new position in Aurora Cannabis in the fourth quarter valued at approximately $61,000. Finally, TCI Wealth Advisors Inc. acquired a new position in Aurora Cannabis in the fourth quarter valued at approximately $51,000. Institutional investors own 8.67% of the company’s stock.
Get Aurora Cannabis alerts:
Shares of ACB opened at $9.18 on Tuesday. Aurora Cannabis Inc has a fifty-two week low of $4.05 and a fifty-two week high of $12.52. The stock has a market cap of $9.17 billion, a PE ratio of 76.50 and a beta of 2.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.31 and a quick ratio of 2.50.
Aurora Cannabis (NYSE:ACB) last announced its earnings results on Monday, February 11th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $41.00 million during the quarter. Aurora Cannabis had a negative net margin of 57.54% and a positive return on equity of 3.95%. On average, sell-side analysts anticipate that Aurora Cannabis Inc will post -0.17 EPS for the current year.
A number of research firms recently commented on ACB. ValuEngine upgraded Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. GMP Securities raised Aurora Cannabis from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. TheStreet lowered Aurora Cannabis from a “c” rating to a “d+” rating in a research report on Monday, February 25th. Cowen initiated coverage on Aurora Cannabis in a report on Tuesday, March 5th. They issued an “outperform” rating on the stock. Finally, Seaport Global Securities initiated coverage on shares of Aurora Cannabis in a research note on Thursday, February 21st. They issued a “neutral” rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Aurora Cannabis currently has an average rating of “Buy” and a consensus price target of $9.50.
Aurora Cannabis Inc (ACB) Given Consensus Recommendation of “Buy” by Analysts
Posted by Clifford Jones on Apr 2nd, 2019 // Comments off
Shares of Aurora Cannabis Inc (NYSE:ACB) have earned an average rating of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company.
ACB has been the topic of several research reports. GMP Securities reiterated a “hold” rating and issued a $9.50 price target on shares of Aurora Cannabis in a research report on Tuesday, February 12th. Seaport Global Securities initiated coverage on shares of Aurora Cannabis in a research report on Thursday, February 21st. They issued a “neutral” rating on the stock. Jefferies Financial Group initiated coverage on shares of Aurora Cannabis in a research report on Monday, February 25th. They issued a “buy” rating on the stock. TheStreet cut shares of Aurora Cannabis from a “c” rating to a “d+” rating in a research report on Monday, February 25th. Finally, Cowen initiated coverage on shares of Aurora Cannabis in a research report on Tuesday, March 5th. They issued an “outperform” rating on the stock.
Get Aurora Cannabis alerts:
A number of institutional investors have recently modified their holdings of ACB. Griffin Asset Management Inc. bought a new stake in shares of Aurora Cannabis in the 3rd quarter valued at approximately $128,000. QCI Asset Management Inc. NY lifted its holdings in shares of Aurora Cannabis by 4.8% during the fourth quarter. QCI Asset Management Inc. NY now owns 86,159 shares of the company’s stock worth $427,000 after buying an additional 3,913 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Aurora Cannabis during the fourth quarter worth approximately $1,355,000. Boston Advisors LLC acquired a new position in shares of Aurora Cannabis during the fourth quarter worth approximately $61,000. Finally, TCI Wealth Advisors Inc. acquired a new position in shares of Aurora Cannabis during the fourth quarter worth approximately $51,000. Hedge funds and other institutional investors own 8.67% of the company’s stock.
ACB stock opened at $9.18 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.31 and a quick ratio of 2.50. Aurora Cannabis has a fifty-two week low of $4.05 and a fifty-two week high of $12.52. The stock has a market capitalization of $9.29 billion, a P/E ratio of 76.50 and a beta of 2.98.
Aurora Cannabis (NYSE:ACB) last issued its quarterly earnings results on Monday, February 11th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Aurora Cannabis had a negative net margin of 57.54% and a positive return on equity of 3.95%. The firm had revenue of $41.00 million for the quarter. On average, analysts anticipate that Aurora Cannabis will post -0.17 EPS for the current fiscal year.
About Aurora Cannabis
Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.
Featured Article: The mechanics of the bid-ask spread in trading
Receive News & Ratings for Aurora Cannabis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aurora Cannabis and related companies with MarketBeat.com's FREE daily email newsletter.
Landry gives ACB a $15 target, suggesting an upside of 66%.
All in all, most analysts on Wall Streets are out rooting for this cannabis stock to be a winning stock pick, as TipRanks analytics showcase ACB as a Strong Buy. Based on 8 analysts polled in the last 3 months, 6 rate a Buy on Aurora stock while 2 maintain a Hold
Aurora Cannabis (ACB) Stock Ready to Rumble
support@smarteranalyst.com (Ben Mahaney)
SmarterAnalystApril 1, 2019
Since Canada enacted national legislation in October 2018 to broadly legalize marijuana and cannabis derivatives for general use, and the number of US states with similar laws has continued to climb, North America has become the scene of a new cannabis industry. But marijuana is more than just a social fad or a suddenly trendy business opportunity. For major investors, it’s also big money, and from the investors’ perspective, legalization has simply removed an element of risk.
The risk, remains, however, as in any endeavor into new markets. In recent months, the major players of the cannabis industry have come under scrutiny from some of Wall Street’s best analysts. However, one stock that has been witnessing positive analyst sentiment and handsomely paid its investors is Aurora Cannabis (ACB).
Based in the Canadian province of Alberta, Aurora is a major player in the medical marijuana supply chain. The company produces over 700,000 kilos of cannabis and cannabis derivatives per year. At the same time, this is a company in a fast-growing business whose stock is currently available for less than 10 US dollars per share, and that fact is starting to turn some heads. The same trio of 5-star analysts quoted above, have also weighed in on Aurora.
GMP analyst Martin Landry takes a bullish view here. He is especially impressed by the company’s expanding international position, saying, “Aurora announced recently that it has started to ship cannabis oils to pharmacies in Germany. With two facilities EU Good Manufacturing Practice certified (Mountain and Markham) and a combined production capacity of 12 tonnes, ACB is well positioned to continue to benefit from high international selling prices. Recently, Aurora also expanded into Portugal with the acquisition of 51% in Gaia Pharm Lda, a license applicant in Portugal.” Landry gives ACB a $15 target, suggesting an upside of 66%.
Cowen’s Vivien Azer, an analyst who prefers to look at macro features of the markets, focuses on Aurora’s naming a new strategic advisor. She says the move bodes well for the company to build partnerships for expansion: “We look for ACB to be more methodical and patient in partnership selection than its Canadian peers.” As with Canopy, she did not set a price target but reiterated her bullish stance on ACB shares.
The third analyst to give a bullish review of Aurora is Jefferies analyst Owen Bennett: "To be a global leader then you need to dominate in both medical and rec [...] Aurora is already positioned well in rec, with a strong approach to rec branding, encouraging early consumer reviews, and investment in extensive derivative infrastructure, a new facility named Aurora Polaris to be completed late 2019. Given outside expertise or partnerships are arguably required to succeed in derivative verticals such as beverages, vapour and edibles, there may have been question marks as to whether they could create maximum value from the derivative investment. The involvement of Peltz should support in strategic decisions around which of these verticals to enter and help with possible relationships with FMCG partners."
All in all, most analysts on Wall Streets are out rooting for this cannabis stock to be a winning stock pick, as TipRanks analytics showcase ACB as a Strong Buy. Based on 8 analysts polled in the last 3 months, 6 rate a Buy on Aurora stock while 2 maintain a Hold.
Marijuana Stocks Look Frothy, But Aurora Stock Is Well-Prepared
Leveraging both capacity and quality, Aurora Cannabis stock is a cut above the competition
By Josh Enomoto, InvestorPlace Contributor Apr 1, 2019, 12:22 pm EDT
Over the long run, I remain net bullish on legal marijuana. However, my optimism for the sector doesn’t cloud reality. I can see as plain as daylight that the honeymoon phase is over. Now, companies like Aurora Cannabis (NYSE:ACB) must provide the goods. If not, ACB stock could face serious trouble.
Source: Shutterstock
Unfortunately, this isn’t just a hypothetical musing.
After jumping to a tremendous start to 2019, Cronos Group (NASDAQ:CRON) started to weaken ahead of its fourth-quarter earnings report. On the disclosure of the financial print, Cronos rang up disappointing revenue. As a result, shares slipped badly.
On the one hand, it’s questionable if CRON can recover in the nearer term. On the other hand, Aurora Cannabis stock presents a contrasting picture. On a year-to-date basis, shares are up over 85%. Not only that, ACB is one of few publicly traded cannabis firms that has generated shareholder profits every month thus far.
How does ACB stock stand out from the competition? Primarily, management consistently delivers ridiculous sales growth. For instance, in its most recent fourth-quarter earnings report, the company generated 54.2 million CAD. Against the year-ago level, revenue had skyrocketed 363%.
However, not everything about Aurora Cannabis stock embodies confidence, which is why shares have sometimes exhibited volatility. For instance, in Q4 2018, analysts recognized a glaring defect in Aurora’s numbers, and management disclosed losses of nearly 238 million CAD.
In Q4 2017, Aurora only mustered 11.7 million in sales. However, they translated that comparatively small haul into 7.7 million in profits. With the latest earnings result, it appears Aurora is taking one step forward and two steps back.
Understandably, stakeholders and prospective buyers in ACB stock want a clearer and more consistent picture before diving into Aurora shares. But if you’ve got the nerve, Aurora is one of the most credible names in the sector.
Multi-Layered Tailwinds Boost ACB Stock
Whenever anyone discusses Aurora Cannabis stock, one of the top bullet points is production capacity. According to its website, Aurora has 11 production facilities, translating to a total funded capacity exceeding 500,000 kilograms a year.
To put that into context, ACB’s only real rival in this space is Canopy Growth (NYSE:CGC), which forecasts similar figures. But from there, the competition drops off dramatically. Although they round out the top four, Aphria (NYSE:APHA) and Green Organic Dutchman (OTCMKTS:TGODF) can only produce approximately 255,000 kilos and 195,000 kilos, respectively.
But it’s not just outright capacity that makes ACB stock shine. Rather, management has made in my opinion strategically powerful decisions. A prime example is Aurora’s buyout of Whistler Medical Marijuana. Several critics blasted the move due to Whistler’s puny 5,000 kilos of annual production.
What they overlooked was Whistler’s specialty, which isn’t focused on quantity, but rather quality. The acquired company features an extensive genetics bank from which they produce strain-specific products.
This is a critical point because growing marijuana isn’t rocket science. But finding the right strain to address certain ailments? That’s very much a vital skill set, and the Whistler buyout will help distinguish Aurora Cannabis stock.
Combined, ACB is better positioned than most to advantage the U.S. government’s slow but steady progress toward full legalization. While I don’t want to make too many bold predictions about our political landscape, the signs certainly justify optimism.
And what if the rest of the world opened to legalization? That would definitely spike ACB stock. Better yet, it’s not out of the realm of possibility. Last year, Thailand and South Korea — which are both conservative countries — legalized medical cannabis. Although heavy restrictions apply, these are unprecedented examples of forward thinking.
All Diamond has to do is get rid of the nutritional labels and never mention that CBD helps with diseases and medical ailments. No worries at all. Walgreens and CVS are carrying CBD. Gas stations also. The train is rolling and no turning back.
100% for sure. It is obvious all the FDA cares about is how CBD is labeled. The same with any other nutritional supplement. Oregano oil helps with lung function, but the bottles are not allowed to say it. The same laws for CBD apply to Cheyenne pepper pills and Oregano oil. They both help with lung function and they don't say it on the pills I buy. They are not to label them as they treat a disease. I't to protect Big Pharma and the Medical system.
I wish I bought Canopy Growth at .15 cents. Oh wait! POTN is going to be huge and is only .15 cents! $$$$GO POTN$$$$$
cant find it.
Cand it on the FDA site. Can you post it where it mentions POTN.
BullsH!T
POTN Audited Fins about to be release on Friday or sooner and people are selling...... LOL!
I don't want to give that much info on my identity and location on IHUB.
Big names investing big money in ACB!
The product is the hottest thing I sell in my shop by far. It is hysteria almost for Diamond CBD products
PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its principal subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD products. Diamond CBD Inc. recently announced that it is presenting its popular line of Diamond CBD oils, edibles, and creams to several large pharmacy chains. Recently passed federal legislation that legalizes industrial hemp production in the United States has generated increased mainstream acceptance of CBD-based products and drawn interest from retailers looking to capitalize on the public's desire for products that reduce stress and anxiety. "Our array of CBD products already play an active role in the wellness routine of thousands of Americans," said Kevin Hagen, Chief Executive Officer of Diamond CBD parent company PotNetwork Holdings, Inc. "That's why we are happy to present the benefits of CBD and our popular oils, edibles and beauty products to several large pharmacy chains in the days ahead."
Aurora Cannabis Inc. (ACB) Outpaces Stock Market Gains: What You Should Know
4/1/19 4:45 PM ET (Zacks.com)Print
In the latest trading session, Aurora Cannabis Inc. (ACB) closed at $9.18, marking a +1.32% move from the previous day. This change outpaced the S&P 500's 1.16% gain on the day. Meanwhile, the Dow gained 1.27%, and the Nasdaq, a tech-heavy index, added 1.29%.
Heading into today, shares of the company had gained 19.84% over the past month, outpacing the Medical sector's gain of 1.35% and the S&P 500's gain of 1.92% in that time.
Investors will be hoping for strength from ACB as it approaches its next earnings release. In that report, analysts expect ACB to post earnings of -$0.05 per share. This would mark a year-over-year decline of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $61.42 million, up 382.06% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $224.47 million. These totals would mark changes of -241.67% and +417.53%, respectively, from last year.
Any recent changes to analyst estimates for ACB should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.05% lower. ACB currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 81, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ACB in the coming trading sessions, be sure to utilize Zacks.com.
Growth Potential for Cannabis Market in Canada May Just Be Underestimated
Today 8:30 AM ET (PR NewsWire)Print
A recent research article questions just how big the Canadian legal market cannabis market will be, but like most others it really means just how large it could be! The report stated: "On October 17, 2018, Canada became the first G7 nation to fully legalize recreational cannabis. As a massive, formerly black market transforms into an above-board one, companies from around the globe in a range of disparate industries--agriculture, yes, but also tobacco, beer, software, and even fashion and design--aim to cash in. But no one knows exactly how large this market will be. Both immediately and in the coming years, attitudes about marijuana in Canada inevitably will change. Meanwhile, the unknowns are impacting everything from share prices to government policies. As jurisdictions in the U.S. and around the world ponder changing their own cannabis laws, they're watching to see how the numbers shake down in Canada. According to Stastics Canada, 4.9 million Canadians used cannabis in 2017, spending $5.7 billion Canadian dollars on pot, 90% of that on the illegal market. For context, Canada has a population of 37.1 million, which is about one-tenth of that of the U.S. It's actually close in size, population wise, to California, which has 39.7 million residents. Active companies in the industry making moves to ready that include: IONIC Brands Corp., (CSE: IONC), SLANG Worldwide Inc. (CSE: SLNG) (OTC: SLGWF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB.TO), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED: TO), Newstrike Brands Ltd. (OTC: NWKRF) (TSX-V: HIP.V).
In the wake of full legalization, estimates of the market's potential vary. The Canadian bank CIBC predicts the market will grow to $6.8 billion CAD by 2020. Provincial governments, it speculates, will take in $3 billion CAD in earned profits and taxes." The article revealed that: "Most researchers round up by a third when estimating true cannabis use, and even this method may be overly conservative.
IONIC Brands Corp., (CSE: IONC) BREAKING NEWS: IONIC Brands announces the commencement of trading on the Canadian Securities Exchange (CSE) under the trading symbol IONC. IONIC BRANDS is led by a team of successful entrepreneurs, that are dedicated to building a multi-state, consumer focused portfolio of luxury cannabis brands. IONIC BRANDS's flagship asset is their #1 vaporizer pen brand in Washington State under the branded name "Ionic". The Company's initial focus was to dominate the most competitive state in the US and focus on building a premium brand within the cannabis concentrate products segment of the market, currently the fastest growing segment of the legal marijuana industry. The Ionic vaporizer pen is currently the top producer of concentrates in Washington State and has experienced year over year growth. IONIC BRANDS is taking their team, proprietary techniques and blueprint for dominating marketplace, as evidenced in Washington State and is aggressively expanding via entrances into new markets (Oregon and California) and accretive acquisitions as outlined below. IONIC BRANDS's strategy is to be the leader of the highest-value segments of the supply chain in the west coast markets and expand eastwards via acquisitions.
Highlights of IONIC BRANDS - Premium luxury portfolio of cannabis concentrate products: Established in 2015, IONIC BRANDS is an industry leader building a multi-state consumer-focused Brand portfolio consisting of award-winning premium and luxury brands in the concentrates space, the fastest growing segment of the legal marijuana industry. IONIC BRANDS has proven the ability to expand and operate multiple brands in multiple markets across the western United States, including California, Washington and Oregon.
Scaling Nationally and Integrated Operations: In 2018, IONIC BRANDS expanded their vaporizer pen business into Oregon and California. Continuing to deliver on our pillars of Quality, Responsibility and Respectability. The IONIC BRANDS strategy is to own the highest-value segments of the supply chain in the west coast markets and expand eastwards via acquisitions: Further discussed below, the Company most recently adding the desirable Nevada market with a binding letter of intent ("LOI") to acquire of Vegas Valley Growers ("VVG"). In Washington State, the Company will acquire a 140-acre cannabis farm located in Eastern Washington to cultivate input material for extraction. In 2019, the Company will deploy an aggressive national expansion strategy into new geographic markets and new product segments
Disruptive entry into the cannabis-edibles and cannabis-infused beverage market via strategic acquisitions: Further discussed below, the Company entered into a binding LOI to acquire Zoots, a premium cannabis edibles company, and also acquired two of the very first cannabis-infused coffee patents granted by United States Patent and Trademark office from Canna Cafe. Together with Zoots and the coffee patents, Company will use its premium production touches and synergistically utilizing the IONIC brand name to disrupt the highly sought after cannabis-infused beverage market, valued at over $4 billion in Canada and the United States by 2022, according to a report by marijuan market research company The Arcview Group. Cowen and Company recently released a report in which it pinpoints Starbucks as the likely first major chain that will market products featuring cannabinoids (CBD). IONIC BRANDS plans on adding domain expertise and engaging various consultants to explore how to best monetize owning these critical patents. Read this entire announcement for IONC at: https://www.financialnewsmedia.com/news-ionc/
Additional industry related developments from around the markets:
SLANG Worldwide Inc. (CSE: SLNG) (OTCPK: SLGWF) recently announced that co-founders Peter Miller and Billy Levy have been honored as High Times 100 Most Influential People in Cannabis for 2019 for their leadership in the cannabis industry. High Times 100 is recognized as the highest honor for a cannabis executive or entrepreneur.
In 2012, SLANG Worldwide co-founders Peter Miller (CEO) and Billy Levy (President) co-founded Mettrum Health Corp, a leading Canadian licensed producer that was acquired by Canopy Growth in 2016. An experienced entrepreneur with a decade of leadership in cannabis and a track record in agriculture, operations, tech, and clean energy, Peter is also the Chairman of the Canadian licensed producer Agripharm. Billy's visionary leadership in consumer tech and marketing has resulted in a number of start-ups including Virgin Gaming (acquired by Cineplex Media 2015) and Virgin Mega (acquired by NIKE June 2016 ) with Sir Richard Branson .
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB.TO) recently that the Company and its wholly-owned subsidiary CanniMed Therapeutics, have added product information numbers (PINs) to 78 medical cannabis products to better facilitate and track insurance coverage for their Canadian patients. The products that received PINs include dried flower, capsules, soft gels, topicals and oils.
PINs help employers and insurance companies classify and incorporate health care products into benefit coverage plans. Patients submitting claims to their third-party insurer can now identify specific products and thereby speed up the adjudication and medical coverage process. MedReleaf, another wholly-owned subsidiary of Aurora, introduced PINs to 57 medical cannabis products in 2018.
Canopy Growth Corporation (NYSE: CGC) (TSX: WEED: TO) recently welcomed Houseplant, a new brand of Canadian cannabis, to the Canopy Growth family today. Founded by Seth Rogen and Evan Goldberg , Houseplant represents years of product expertise and an unmatched attention to detail within each strain that has been carefully selected and grown.
Commitment to cannabis quality begins with selecting the best genetics and doesn't stop until the customer opens the jar. Canopy Growth has witnessed how carefully Houseplant has chosen each component of their offering to deliver the highest quality product to Canadians.
Newstrike Brands Ltd. (OTCPK: NWKRF) (TSX-V: HIP.V) recently announced that it is making a US$5 million investment in Green Tank Technologies ("Green Tank"), one of North America's premiere manufacturers of cannabis vape hardware and technology. The investment by Newstrike strengthens the existing partnership between Newstrike's wholly-owned subsidiary, Up Cannabis, and Green Tank, as both companies prepare for the legalization of cannabis oil vaping.
"In anticipation of revised cannabis regulations coming into force in late 2019, we are gearing up for the commercial launch of our full line of cannabis vape products.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty six hundred dollars for news coverage of the current press release issued above by IONIC Brands Corp. by a non affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
Big partnership nelson peltz news coming
Get ready for the POTN $$$$$! Coming soon!
I like what I see.... Nice... year-end AUDITED financial statements
Reason for Delay in Posting Financial Report: State below in reasonable detail why the Annual/Quarterly Report could not be filed within the prescribed time period. Pending completion of annual report and year-end audited financial statements.
You don't know how to read the top of the board? All the info is there to see.