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Rolls-Royce secures defense services contract valued at $1.2 Billion
Rolls-Royce has secured a five-year MissionCare™ contract valued at $1.2 Billion to maintain AE 1107C engines on U.S. Marine Corps, Navy and Air Force V-22 aircraft.
Rolls-Royce has delivered nearly 1,000 AE 1107C engines to power the fleet of V-22 aircraft in operation around the world. The total fleet of more than 375 MV-22s and CV-22s in service recently topped 500,000 flight hours – or 1 million engine hours on the twin-engine aircraft.
Under the Rolls-Royce MissionCare contract, the company will be responsible for all aspects of propulsion system support, on a Power by the Hour™ basis.
Paul Craig, Rolls-Royce, President – Services, said, “Rolls-Royce has supported the warfighter and these remarkable, revolutionary aircraft since they entered service in 2007. Our MissionCare services model ensures the warfighters are focused on their missions, not their engine availability. Rolls-Royce is proud to serve the Marine Corps, Navy and Air Force and contribute to the success of V-22 missions around the world.”
Rolls-Royce AE 1107C engines are assembled in Indianapolis, in the company’s largest facility in the U.S. The engines are part of the AE engine family, which has a proven record of reliable service in military and civilian aircraft. The AE engine fleet has topped 77 million hours of dependable service around the world.
The Rolls-Royce facilities in Indianapolis are nearing completion of a $600 million investment to modernize and upgrade technology, resulting in a state-of-the-art advanced manufacturing operation.
Rolls-Royce employs 6,000 people in 27 states across the U.S., literally coast-to-coast, from southern California to Walpole, Massachusetts. In addition, Rolls-Royce business supports more than 52,000 jobs across the US, adding nearly $9 billion to the nation’s economy each year.
Rolls-Royce has invested nearly $1 billion in Research and Development in the US since 2013.
About Rolls-Royce Holdings plc
Rolls-Royce pioneers cutting-edge technologies that deliver clean, safe and competitive solutions to meet our planet’s vital power needs.
Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces, 70 navies, and more than 5,000 power and nuclear customers.
Annual underlying revenue was $19.35 billion* in 2018, around half of which came from the provision of aftermarket services.
In 2018, Rolls-Royce invested $1.8 billion* on research and development. We also support a global network of 29 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.
The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.
*Based on a currency exchange rate of $1.29.
I hope you don't regret about those 0.016...
Exactly. The ones who can afford to hold longer will reap the benefits.
The entire week is going to be big for $RLLCF!
Uncle Ernie, your explanation is very precise. That’s exactly the same information I got from Rolls-Royce when I spoke to them over the phone.
Thank you very much for clarifying to everyone.
That's what the facility in Massachusetts is about:
Rolls-Royce secures defense services contract valued at $1.2 Billion
26 November 2019
Rolls-Royce has secured a five-year MissionCare™ contract valued at $1.2 Billion to maintain AE 1107C engines on U.S. Marine Corps, Navy and Air Force V-22 aircraft.
Rolls-Royce has delivered nearly 1,000 AE 1107C engines to power the fleet of V-22 aircraft in operation around the world. The total fleet of more than 375 MV-22s and CV-22s in service recently topped 500,000 flight hours – or 1 million engine hours on the twin-engine aircraft.
Under the Rolls-Royce MissionCare contract, the company will be responsible for all aspects of propulsion system support, on a Power by the Hour™ basis.
Paul Craig, Rolls-Royce, President – Services, said, “Rolls-Royce has supported the warfighter and these remarkable, revolutionary aircraft since they entered service in 2007. Our MissionCare services model ensures the warfighters are focused on their missions, not their engine availability. Rolls-Royce is proud to serve the Marine Corps, Navy and Air Force and contribute to the success of V-22 missions around the world.”
Rolls-Royce AE 1107C engines are assembled in Indianapolis, in the company’s largest facility in the U.S. The engines are part of the AE engine family, which has a proven record of reliable service in military and civilian aircraft. The AE engine fleet has topped 77 million hours of dependable service around the world.
The Rolls-Royce facilities in Indianapolis are nearing completion of a $600 million investment to modernize and upgrade technology, resulting in a state-of-the-art advanced manufacturing operation.
Rolls-Royce employs 6,000 people in 27 states across the U.S., literally coast-to-coast, from southern California to Walpole, Massachusetts. In addition, Rolls-Royce business supports more than 52,000 jobs across the US, adding nearly $9 billion to the nation’s economy each year.
Rolls-Royce has invested nearly $1 billion in Research and Development in the US since 2013.
About Rolls-Royce Holdings plc
Rolls-Royce pioneers cutting-edge technologies that deliver clean, safe and competitive solutions to meet our planet’s vital power needs.
Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces, 70 navies, and more than 5,000 power and nuclear customers.
Annual underlying revenue was $19.35 billion* in 2018, around half of which came from the provision of aftermarket services.
In 2018, Rolls-Royce invested $1.8 billion* on research and development. We also support a global network of 29 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.
The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.
*Based on a currency exchange rate of $1.29.
IMO is has a great potential to make millionaires.
Sorry, I mention something in this post that is not accurate. I mean to say that Rolls-Royce stock is quoted in sterling pounds, not RLLCF. Dividends are paid in sterling pounds and converted to US dollars, that's what RLLCF is about.
Rolls-Royce Pearl 15 receives US certification
23 December 2019
The Pearl® 15, the exclusive engine option for Bombardier’s Global 5500 and Global 6500 aircraft, has received its official certification by the Federal Aviation Administration (FAA). The engine, which was developed at the Rolls-Royce Centre of Excellence for Business Aviation engines in Dahlewitz, Germany, has previously been certified by the European Union Aviation Safety Agency (EASA) and Transport Canada Civil Aviation (TCCA).
The Pearl 15 was custom-designed to power the Global 5500 and Global 6500 aircraft, which have the longest range and the largest cabin in their category and feature Bombardier’s signature smooth ride technology.
Rolls-Royce is the world’s leading engine supplier for business aviation, powering more than 3,200 aircraft in service today. The new state-of-the-art Pearl engine family for business aviation, has already been chosen to power three different business jets, reaffirming Rolls-Royce’s leading position in this important market.
Dr. Dirk Geisinger, Director – Business Aviation, Rolls-Royce, said: “We are proud to have reached this important milestone on time. We have worked closely with the teams at the Federal Aviation Administration and Bombardier to achieve this certification and would like to thank them for their support. Meanwhile, our production and services teams are fully focussed on delivering a smooth entry into service and the planned production ramp up.”
The Pearl engine combines innovative technologies derived from the Rolls-Royce Advance2 technology demonstrator programmes with proven features from the BR700, today’s most successful engine family in business aviation. The Pearl 15 also exemplifies Rolls-Royce’s pioneering IntelligentEngine vision of a future where product and service become indistinguishable thanks to advancements in digital capability. As well as a new-generation Engine Health Monitoring System that introduces advanced vibration detection, the engine benefits from the incorporation of advanced remote engine diagnostics and bi-directional communications that allow for easy remote reconfiguration of engine-monitoring features from the ground.
Compared with the highly successful BR710, the Pearl 15 features the same nacelle envelope but is more powerful, with a maximum certified thrust of 15,250lb; has up to seven per cent better specific fuel consumption; is two dB cumulative quieter; and shows a 20 per cent improvement in NOx emissions margin.
Designed for outstanding reliability, the Pearl family will be supported by the industry-leading Rolls-Royce CorporateCare® Enhanced service, the most comprehensive aftermarket programme in business aviation, providing full transfer of off-wing maintenance risk at a predictable, fixed price. For a pre-defined hourly cost, CorporateCare Enhanced covers maintenance for the whole powerplant including nacelle, exhaust unit, EBU and thrust reverser unit-related services.
About Rolls-Royce Holdings plc
Rolls-Royce pioneers cutting-edge technologies that deliver clean, safe and competitive solutions to meet our planet’s vital power needs.
Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces, 70 navies, and more than 5,000 power and nuclear customers.
Annual underlying revenue was £15 billion in 2018, around half of which came from the provision of aftermarket services.
In 2018, Rolls-Royce invested £1.4 billion on research and development. We also support a global network of 29 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.
The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.
If it runs up to $9.00 it wouldn't surprise me.
It ran in July, check the chart. And it will run again, but probably this time it will run way higher because Rolls-Royce grew up a lot. It even built a power plant in the US and has contract with US military, in the state of Massachusetts.
Rolls-Royce breaks ground on new facility to support U.S. Navy programs
17 December 2019
Walpole, Massachusetts – Rolls-Royce is investing $7.7 million to create new manufacturing, repair and test capability in support of U.S. Navy programs with the completion of a new facility in late 2020. Rolls-Royce officially launched construction with a ground breaking this week for the 24,000 square foot facility that will enhance and modernize the company’s naval operations in Walpole.
Upon completion, Rolls-Royce’s flagship Naval Defense facility will add water jet maintenance, repair and overhaul (MRO) servicing to its portfolio of world-class capabilities. Rolls-Royce expects demand for spare equipment and MRO services associated with the U.S. Navy’s Littoral Combat Ship (LCS) program to ramp up beginning next year. Each Freedom class variant of the LCS is equipped with four Rolls-Royce waterjets.
Rolls-Royce continues to provide unparalleled products and services to the U.S. Navy. The company is the sole supplier of shock-rated propeller systems, which have demonstrated extraordinary levels of reliability and robustness in service. Rolls-Royce Propulsion equipment can be found on more than 95% of the U.S. Navy Surface Warfare fleet.
Tom Bell, Rolls-Royce plc President – Defense and Rolls-Royce North America Chairman & CEO said: “We’re excited to announce this important investment in our naval business. Rolls-Royce is bringing critical new capabilities to the region, reaffirming our strong commitment to the U.S. and our largest global Defense customer – the U.S. Department of Defense.
“The new facility in Walpole is just one of many significant U.S. investments Rolls-Royce Defense will highlight in 2020, as we continue to provide world-class American made products and services to support the U.S. military around the world.”
About Walpole
For more than 50 years, Rolls-Royce Walpole has delivered key ship propulsor systems for our Naval Defense customers. From design and development through aftermarket support and product servicing, we provide the power that matters for our customers across a broad range of applications.
Rolls-Royce supports more than 70 navies worldwide, including our largest customer, the U.S. Navy. We provide propulsion products* for a wide range of U.S. Navy platforms including Frigates, Destroyers, Combatants, Submarines, Aircraft Carriers, Amphibious ships, Fleet Support and Auxiliary Ships, as well as U.S. Coast Guard Cutters.
* Propulsion equipment includes Controllable-Pitch Propellers, Fixed-Pitch Propellers and Waterjets.
Rolls-Royce North America
Rolls-Royce employs 6,000 people in 27 states across the U.S., literally coast-to-coast, from southern California to Walpole, Massachusetts. Rolls-Royce also supports a total of 52,100 additional jobs across the U.S., adding $8.6 billion to the nation’s economy, according to a recent economic impact study. Rolls-Royce North America is a U.S.-based subsidiary with a separate U.S. board, leadership and security approved through the U.S. Department of Defense.
Rolls-Royce has invested nearly $1 billion in Research and Development in the U.S. since 2013.
It's because RLLCF is quoted in Sterling Pounds at London Exchange Market. And the dividends are paid in Sterling Pounds, but converted to US dollars. That's explains the difference between 0.47 and 0.70.
Share Price today closed at 677.80 GBX.
I had this conversation with Rolls-Royce. I hope this clarifies your question.
I made good BUX here too and for now no more Costello for me either...
It's going to be even better on Monday. Have a great weekend!
Have we broken the resistance level yet?
Is $9 the target price for this Rolls-Royce ticker? Same as $RYCEF & $RYCEY?
It seems like it's about to Rolls-Roycing!
$RLLCF
RLLCF Rolling Roycing...
Check $RLLCF TODAY and MONDAY! This is soon going to follow the other two Rolls-Royce tickers:
$RYCEF
$RYCEY
A $20 billion company and this stock pays dividends!
Check $RLLCF TODAY and MONDAY! This is soon going to follow the other two Rolls-Royce tickers:
$RYCEF
$RYCEY
A $20 billion company and this stock pays dividends!
Exactly. This is set for a monster run.
I spoke to Rolls-Royce and confirmed with them. I'm looking for facts, not opinions. Ticker is legit and soon is going to be at the same level as the other two RR tickers.
$RLLCF: This is soon going to follow the other two Rolls-Royce tickers:
$RYCEF
$RYCEY
A $20 billion company and this stock pays dividends!
$RLLCF: This is soon going to follow the other two Rolls-Royce tickers:
$RYCEF
$RYCEY
A $20 billion company and this stock pays dividends!
$SPRV: News coming in January. Going to be audited. Nowhere else to go but up!
@webtodoor
@amazon
@SPRV
But people keep saying that Han Schmucko is going to build an EV empire in China...
A little bit of comedy by the end of the day doesn’t hurt anyone. Happy new year!
69 needs to get out of the jail, then they will do another concert.
Good night MILF!
It seems like they are putting a lot of good stuff together.
Go MILF!
I don't know anything about it. I spoke once with Gelmon, but he didn't release any valuable information.
Regarding the fluctuation you mentioned, as far as I am concerned only MM's can trade stocks that have over 4 decimals. Therefore, I believe what is happening is due to MM games.
The Gross Law Firm Announces Class Actions on Behalf of Shareholders of REAL, MMSI and ACB
12:17 PM ET 12/27/19 | Dow Jones
NEW YORK, NY / ACCESSWIRE / December 27, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
The RealReal, Inc. (NASDAQ:REAL)
Investors Affected : all persons and entities who purchased RealReal common stock pursuant and/or traceable to the Company's registration statement issued in connection with the Company's June 27, 2019 initial public offering.
A class action has commenced on behalf of certain shareholders in The RealReal, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's employees received little training on how to spot fake items; (2) the Company's strict quotas on its employees exacerbated product authentication issues; (3) consequently, the potential for counterfeit or mislabeled items to make it through Company's authentication process was higher than disclosed; and (4) as a result, Defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/the-realreal-inc-loss-submission-form/?id=5072&from=1
Merit Medical Systems, Inc. (NASDAQ:MMSI)
Investors Affected : February 26, 2019 - October 30, 2019
A class action has commenced on behalf of certain shareholders in Merit Medical Systems, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the integrations of acquired companies Cianna Medical, Inc. and Vascular Insights, LLC, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during FY19; and (c) in light of the foregoing, the Company's reported financial guidance for FY19 and FY20 was made without a reasonable basis.
Shareholders may find more information at https://securitiesclasslaw.com/securities/merit-medical-systems-inc-loss-submission-form/?id=5072&from=1
Aurora Cannabis Inc. (NYSE:ACB)
Investors Affected : September 11, 2019 - November 14, 2019
A class action has commenced on behalf of certain shareholders in Aurora Cannabis Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) as opposed to the Company's representations, Aurora's revenue would decline in its first quarter of fiscal 2020 ended September 30, 2019; (2) the Company would halt construction on its Aurora Nordic 2 and Aurora Sun facilities; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/aurora-cannabis-inc-loss-submission-form/?id=5072&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
View source version on accesswire.com:
https://www.accesswire.com/571479/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-REAL-MMSI-and-ACB
> Dow Jones Newswires
December 27, 2019 12:17 ET (17:17 GMT)
We're brothers!
ROSEN, NATIONAL TRIAL LAWYERS, Reminds Aurora Cannabis Inc. Investors of Important January 21(st) Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $750K to Contact the Firm
11:42 AM ET 12/27/19 | BusinessWire
NEW YORK--(BUSINESS WIRE)--December 27, 2019--
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurora Cannabis Inc. (NYSE: ACB) from September 11, 2019 and November 14, 2019, inclusive (the "Class Period") of the important January 21, 2020 lead plaintiff deadline in class action commenced by the firm. The lawsuit seeks to recover damages for Aurora investors under the federal securities laws.
To join the Aurora class action, go to http://www.rosenlegal.com/cases-register-1724.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Aurora's revenue would decline in its first quarter of fiscal 2020 ended September 30, 2019; (2) the Company would halt construction on its Aurora Nordic 2 and Aurora Sun facilities; and (3) due to the foregoing, defendants' statements about Aurora's receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1724.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191227005226/en/
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40(th) Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
SOURCE: Rosen Law Firm
Copyright Business Wire 2019
> Dow Jones Newswires
December 27, 2019 11:42 ET (16:42 GMT)
Is the Pain Over for Pot Stocks? Investors Can Look Forward to a New Year. -- Barrons.com
10:56 AM ET 12/27/19 | Dow Jones
By Bill Alpert
What a sour year for investors who bet on the young cannabis industry!
From its March peak, the marijuana-focused ETFMG Alternative Harvest ETF (ticker: MJ) lost half its value, while the overall stock market rose. Few pot stocks now trade above the prices at which they came public on Canada's stock market, where even U.S. operators had to go to raise equity capital. Canadian pioneers like Canopy Growth (CGC) and Aurora Cannabis (ACB) were laid low.
But 2020 will be better -- at least for solid U.S. operators like Green Thumb Industries (GTII. Canada) and Curaleaf Holdings (CURA. Canada).
See our cover story on Canadian pot: "Marijuana Stocks Could Be a Buzzkill"
Barron's warned investors that the pot-stock bubble was inflating too quickly, but the stocks soared early in the year as investors waited for Canadian leaders like Canopy, Aurora, Tilray (TLRY) and Aphria (APHA) to fly in response to the demand unleashed by their country's legalization of recreational sales in October 2018.
American pot producers headed north. The U.S. stock market was closed to companies operating in pot-legal states because of the weed's federal illegality, but a dozen U.S. operators got their stocks trading in Canada. They included Acreage Holdings (ACRG-U. Canada), Trulieve Cannabis (TRUL. Canada) and Harvest Health & Recreation (HARV. Canada).
See our U.S. pot cover story: "You'd Have to Be High to Buy American Marijuana Stocks"
The Canadian companies' bubble stretched farthest. In the first months of 2019, the stocks of Canada's large producers reached multiples of nine times the per-share sales that analysts were forecasting for the year, and more than 60 times the cash flows. As the year progressed, however, sales were disappointing and cash flows were increasingly negative.
Canopy and Aurora stocks tumbled, and the companies' most visible executives lost their posts. In July, Canopy founder and CEO Bruce Linton was sacked at the behest of the company's 38% shareholder Constellation Brands (STZ). In December, Aurora reassigned its chief corporate officer, Cam Battley.
Even in the enthusiasm of early 2019, U.S. operators' stocks traded at a 50%-60% discount to their Canadian counterparts. That haircut was undeserved, as the Yanks showed they were better at selling weed.
A few spendthrift U.S. outfits like MedMen Enterprises (MMEN. Canada) floundered, but Curaleaf, Green Thumb, and Trulieve increased their sales and cash flows. Their stocks have fallen less than the Canadians'. Analyst Bobby Burleson at Canaccord Genuity says that the valuation discount of the U.S. operators has now narrowed to around 10%.
In 2020, Canada's producers are looking forward to improved retail distribution, as populous provinces such as Ontario allow more stores to open. The growers are hoping for incremental sales from newly-allowed products like vapes, chocolates, and beverages. With an expensive bottling plant, Canopy has bet that cannabis drinks can take market share from beer and liquor.
Canaccord's Burleson is excited over the prospects of U.S. operators, when recreational pot sales rev up in Michigan and Illinois. As an election year, 2020 could see marijuana ballot initiatives in at least 16 states, including New York, Florida, New Jersey, Pennsylvania, Ohio, and Virginia.
Cannabis tourism to states where pot is legal could pressure regional laggards, as holdout states worry about losing tax revenue. Burleson notes that Michigan stores are opening along that state's borders with Ohio, Indiana, and Wisconsin.
Marijuana-friendly changes to federal law picked up a little steam in 2019, with the House of Representatives approving a bill that would let state-licensed cannabis businesses use the commercial banking system. But that measure, the SAFE Banking Act, will have a hard time getting past the Republican-controlled Senate. And in any event, the current version of the SAFE Act still wouldn't allow cannabis stocks to trade in the U.S.
Hopes ran high in 2019 for sales of cannabidiol, or CBD -- the nonintoxicating ingredient in cannabis that Congress legalized at the start of the year. As Barron's surmised , enthusiasm for CBD got ahead of its commercial value.
Large retail chains have held back from stocking the stuff. The U.S. Food and Drug Administration said that it may not permit CBD as an additive to food and dietary supplements without proof that it is safe. Just last month, the FDA warned that CBD can cause liver damage and diarrhea. Most CBD stocks have sold off with their cannabis peers.
Vape sales will have room to grow in 2020, after dropping 25% following the rash of severe lung injuries suffered by users over the summer. Epidemiologists found compelling evidence that the injuries involved vape oils adulterated with vitamin E acetate -- a trick practiced by illegal dealers. Licensed sellers could take share from the black market, as customers return.
Just as after the dot.com bust 20 years ago, a few well-run companies will thrive. In 2020, they may start to show themselves.
Write to Bill Alpert at william.alpert@barrons.com
> Dow Jones Newswires
December 27, 2019 10:56 ET (15:56 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Exactly. That's why I love the trading volume!
I'm trying to buy all the way down...
It seems like many people want to see ACB pps as low as a frog’s asshole, but the truth of the matter is the three of major Canadian MJ companies stocks are going down for quite a while. It’s not an ACB isolated event. I believe it will recover in 2020. It’s a good and real company, hopefully they will figure out how to get out of this hole and rewards its shareholders.
Don't understand your surprise. Santa Claus has been around for many years and still a success for some!
What is hard to handle is about we working hard in order to buy 500, 1000 shares and in the other hand, executives from Aurora get thousands if not millions of shares for free, basically. Then they decide to toss their shares at any price, because there is no much to think when you get something for free.
Probably it’s not LICH, because We have to pay Motley to promote the stock.