Jan 10, 2019, After Market
Thursday saw an up-and-down, with most stocks including the cannabis sector ended up finishing about .05% higher. Market shareholders tried to stay concentrated on positive news, including the end of the latest of trade negotiations between the U.S. and China. Also, to the remarks from the Federal Reserve Chair Jay Powell that guided towards a less threatening position on financial policies. Nevertheless, there was good news for several companies such as Aurora Cannabis (NYSE: $ACB), Amarin (NASDAQ: $AMRN), and Constellation Brands (NYSE: $STZ) stayed among the top performers. Here’s how they did so well.
– $ACB – Aurora Looking Up
Shares of Aurora Cannabis went up 9% on what became a good day for marijuana stocks across the entire market. Investors are still looking at Aurora’s expectations, with the business having announced earlier this week that it anticipates net revenue of $50 million to $55 million during the second fiscal quarter, which ended on Dec. 31. Aurora has increased its production capacity from 70,000 kilograms per year to 100,000 as it is currently, and it hopes to get 150,000-kilogram-per-year by the end of March 2019. Furthermore, as more mainstream stock critics start to cover the cannabis sector, it’s most likely that Aurora will bring even more investors as 2019 continues.
– $AMRN – Amarin Keeps Raising
We witnessed Amarin jump another 22%, increasing on gains from Wednesday as investors are considered that the corporation might become the target of a takeover attempt. J.P. Morgan Healthcare Conference involved a presentation of the fish-oil drug that experts are highlighting the benefits of its medicine Vascepa, and investors responded favorably to the opinion that selling of the medication has the potential to push Amarin’s overall results higher. Today, reports emerged that a major pharmaceutical company might try to add Vascepa to its stable of approved treatments by purchasing Amarin entirely. With one crucial M&A transaction already having been proposed in the biopharma space recently.
– $STZ – Constellation Raises Once Again
Finally, Constellation Brands finished higher by 6%. The beer, wine, and spirits producer experienced considerable declines in its stock price following the announcement of its most up-to-date quarterly results, which included a big downwards hit deriving from the company’s stake in cannabis producer Canopy Growth. Investors looked to consider today to have exaggerated, and with Canopy showing a second day in a row of notable share-price increases, Constellation shareholders appear to have restored faith that the company’s overall procedure toward consumer goods of all kinds that could prove to be successful in the long run.
Canadian companies just unlocked what some specialists believe could be the solution to profiting off the next cannabis boom.
Cannabis legalization is expanding all across North America – 10 states plus Washington, D.C., have all authorized recreational cannabis over the last few years, and full legalization became law in Canada on October of 2018.
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