Several marijuana stocks were moving Monday, though in opposite directions, as Tilray and Aphria slipped and Canopy Growth and Aurora Cannabis rose.
The back story. Tilray stock fell as much as 3.7% early Monday morning after Piper Jaffray analyst Michael Lavery cut his first-quarter 2019 revenue estimates for the grower. He also lowered his full-year 2020 estimate by more than 3%. Still, many investors remain positive on the sector as whole, betting on big things from marijuana producers in the years ahead.
What's new. Analysts are opining on the future of marijuana stocks, but what are investors doing with their money? Cowen analysts offered a glimpse of the flows coming across their trading desk to provide an answer. For Tilray, the analysts “continue to see new money and existing holders add to their positions in the low $50’s.
Tilray stock was down Monday afternoon, losing 2% to $52.06. Canopy Growth stock was up 4.2% to $52, while Hexo was up 6.3% to $8.30. Aphria stock was down 2.38% to $7.37 and Harvest Health was flat. Greenlane Holdings was down 1.55% to $17.77. Looking Ahead. Barron’s Bill Alpert wrote earlier this year that investors should be hesitant before thinking about buying up marijuana stocks—especially U.S.-based growers. As he said earlier this month, Canadian marijuana sales are going nowhere fast. That hasn’t stopped investors from placing their bets, however.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Philippines Latest News, Philippines Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coke and Pepsi Could Be Cannabis Stocks, Too — if They Join the CBD CrazeMajor beverage and cannabis companies — including Coca-Cola, PepsiCo, Tilray, and Canopy Growth — look poised to benefit from exploding demand for CBD products. It’s all about scale. The idea behind the industry was to have small businesses grow and mature. It was never meant for the matured business to hijack. Don’t recall any activism by coke or Pepsi they had nothing to do with regulatory changes.
Source: MarketWatch - 🏆 3. / 97 Read more »
Ford's earnings proved the automaker's risky bets are paying off — and investors are buying inFor the last several years it seemed like Ford could do nothing right, but despite a steep decline in first-quarter profits, investors are turning upbeat on the second-largest domestic automaker, sending Ford shares soaring past the $10 mark for the first time since last August.
Source: CNBC - 🏆 12. / 72 Read more »
Stocks reclaim record highs, but investor enthusiasm is lackingStocks reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies. Investors saw the same thing before and got burned Time for a buyback, then. Know how experts say The Market doesn't like the unknown? Well, we're living in Unknownville these days. I'll always cheer The Market on, but one never knows what will come out of the WH next. Let THAT wash over us.
Source: CNBC - 🏆 12. / 72 Read more »
Investors Search for Opportunity in Unloved Corner of Stock MarketEuropean stocks have been among the least liked investments for fund managers in recent months. Yet some investors, sensing Europe’s economic gloom lifting, are gingerly returning to the region. The EU stock market will do OK As long as the ECB keeps printing money and buying stocks and shares As soon as this stops, collapse Even the overly optimistic forecasters see little growth. FocusEconomics analysts expect growth of 1.3% in 2019 and 1.4% in 2020 Less than inflation
Source: WSJ - 🏆 98. / 63 Read more »
Why one investor says Biden’s presidential bid poses a ‘meaningful threat’ to the stock marketEx-Vice President Joe Biden announced on Thursday that he is seeking the Democratic presidential nomination in 2020, and while, many hoping for a contender to hoping to unseat President Donald Trump may cheer, at least one Wall Street investor believes the development spells bad news for the stock market. What bullshit
Source: MarketWatch - 🏆 3. / 97 Read more »
Stocks struggle for altitude as investors parse Boeing, Caterpillar earningsStocks on Wednesday trade mixed, a day after the S&P 500 and Nasdaq carved out their first records in months, underscoring a rebound for stocks since an...
Source: MarketWatch - 🏆 3. / 97 Read more »