MARIJUANA STOCK NEWS
REBOUND FROM OVERSOLD CONDITION
Featured Company – EVE & Co – EVE TSX.V – REPORT
Marijuana Stocks Ready To Rebound On Upbeat Market Data – Bounce From Oversold Condition
Vancouver BC / ACCESSWIRE / November – Dec 2018 / After Canada became the first G7 country to make cannabis fully legal across the country, marijuana stocks have seen a surge in trading interest. In addition, several big wins at a state level in the US has also helped to boost the sentiment surrounding North American market expansion.
Grand View Research reports that the global legal marijuana market size was valued at USD 9.3 billion in 2016 and is expected to exhibit a CAGR of 34.6% during the forecast period. The market is expected to witness significant growth owing to legalization in several countries and high demand for both medical and recreational purposes. With this, the marketplace is beginning to see new entrants throw their hat in the ring as well as other companies diversify their holdings with involvement within the industry. As investors prepare for the final month of the fourth quarter, take a look at the following :
Eve & Co ( EVE: TSX.V ) has made a 20% move to the upside , up $0.07 cents hitting $0.32. Eve, through its wholly owned subsidiary Natural MedCo Ltd., is a licensed producer and seller of dried cannabis and cannabis plants, and licensed producer of cannabis oil under the Access to Cannabis for Medical Purposes Regulations. Natural MedCo Ltd. is Canada’s first female founded licensed producer, and received its cultivation license from Health Canada in 2016 and its sales license from Health Canada in June 2018.
Eve is led by a team of agricultural experts and has a 220,000 sq. ft. scalable greenhouse production facility located in Middlesex County, Ontario with 32 acres of adjacent land for future expansion. Eve has broken ground on an additional 780,000 sq. ft. expansion,bringing Eve’s total anticipated greenhouse capacity to 1,000,000 sq. ft. This company is on our BUY LIST – ACCUMULATE HERE
Cannabis Science Inc ( CBIS: OTC ) takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate. T
he Company works with leading experts in drug development, the characterization of medicines, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness. Our initial focus is on cancers, HIV/AIDS, and neuological conditions. The Company is proceeding with the research and development of its proprietary drugs as a part of its overall business model
Serious Investors Place On BUY LIST Read Report
Premier Health Group, Inc. (OTC: PHGRF) (CSE: PHGI) made a move this month to make a play on the opportunity that the legal marijuana industry has presented. Premier Health announced that as a part of its expansion plans, Premier Health will enter the Cannabis clinic space by a series of acquisitions, partnerships and/or launching a new Canada -based chain in the first half of 2019.
The role of Cannabis in treating medical conditions is continuously expanding. Our doctors have had success in treating their patients with various ailments from chronic pain to cancer-related symptoms. Unfortunately, there is a gap between the patient’s need for medical marijuana, and the family doctor’s comfort and knowledge to prescribe it. We are looking to fill that gap with various forms of clinics and services to help our patients and healthcare workers,” said Dr. Essam Hamza, Chief Executive Officer of Premier Health.
The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025. With this in mind, the company said that it expects to provide additional updates on acquisitions in Q4-18 and Q1-19.
Outside of cannabis, Premier Health Group, Inc. (OTC: PHGRF) (CSE: PHGI) is focused on developing innovative health care approaches that combine human skill-based expertise with emerging technologies and will set the gold standard for services in locations of interest worldwide. In line with new healthcare industry trends, Premier Health’s subsidiary, HealthVue is focused on developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence. HealthVue currently has an ecosystem of over 100,000 active patients and have plans to rapidly increase that number both domestically and internationally.
Canopy Growth (NYSE: CGC) (TSX: WEED) saw its shares climb during premarket trading on Wednesday This week the company announced that its wholly-owned subsidiary, Spectrum Cannabis has been signed as a medical cannabis partner of Reformulary Group, a Canadian healthcare, science, and technology company. This is for its Cannabis Standard™ formulary.
“Spectrum Cannabis is a trailblazer in medical cannabis and a significant addition to Cannabis Standard,” said Helen Stevenson, Reformulary Group founder, and CEO. “The company is a leading producer of high-quality medical cannabis products and bolsters our network of LP partnerships and cannabis products.”
Spectrum Cannabis operates in Australia, South America, Africa and across Europe. Its products are available in a wide range of potencies and formats designed to simplify the dialogue around strength and dosage by applying a color-coded Spectrum to categorize medical cannabis according to THC and CBD levels.
Canopy Growth operates ten licensed cannabis production sites with over 4.3 million square feet of production capacity, including over 500,000 square feet of GMP certified production space.
Tilray (NASDAQ: TLRY) shares traded higher on Wednesday morning as well. reported its financial results for the third quarter and nine months ended September 30, 2018. In its earnings call, the company’s CEO, Brendan Kennedy, stated, “the cannabis industry remains very robust.”
Revenue increased to $10.0 (C$12.9) million, up 85.8% compared to the third quarter of last year. The increase in revenue was driven by increased patient demand, bulk sales to other Licensed Producers, and accelerated wholesale distribution in export markets.
Kennedy also said, “We are in the early stages of achieving our growth potential and our team continues to strategically execute on disciplined operational initiatives and investments to support Tilray’s long-term, sustainable growth as the pace of legalization continues to accelerate around the world.”
This morning, Tilray shares rose to highs of over $107 after closing its Tuesday session at $104.
Aurora Cannabis (NYSE: ACB) also jumped during premarket hours on Wednesday. Following its Tuesday close at $6.03, Aurora saw its shares trading higher than $6.20 before the opening bell. The company recently reported its fiscal first-quarter net earnings that rose to $105.5 million from $3.6 million a year ago, and from $79.9 million in the previous quarter. Total revenue rose 260% from a year ago and 55% from the previous quarter to $29.7 million, while cannabis revenue jumped 236% from last year and 65% from last quarter to $24.6 million. In addition, Aurora saw the average selling price per gram of dried cannabis growing 15% from a year ago to $8.39, while the cash cost per gram fell 12% to $1.90. For cannabis extracts, the net selling price per gram fell 26% to $12.12, while costs declined 22% to $1.45. Active registered patients rose 250% to 67,484.
We continue to successfully execute our differentiated and diversified strategy committed towards domestic and international expansion in the medical cannabis market, adult consumer use sales, production scale-up, innovation, plant and medical research, and product development,” said Terry Booth, CEO of Aurora. “The commencement of adult consumer use sales in Canada has been very successful for Aurora, with strong performance across all product categories and brands. Our initial roll-out success demonstrates how our high-quality Aurora Standard products and well-positioned brands have resonated strongly with the consumer market and our preparedness for the logistical challenges in effectively bringing our products to market.
This month, Aurora shares have traded as high as $8.12
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SOURCE: Wall Street Researcher
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