Cannabis stocks are down, but is now the time to buy?
“Buy the dip,” says Cantor Fitzgerald analyst Pablo Zuanic in his January 2023 outlook piece on the weed industry, writes Barrons.
Pinning the likes of Curaleaf Holdings and Green Thumb Industries as favorite stocks along with Cresco Labs and Trulieve Cannabis, Zuanic notes that their ground-down stocks leave these growing companies valued at less than two times 2023 sales and eight times earnings before interest, taxes, depreciation and amortization, or Ebitda.
Barrons highlights that Zuanic remains convinced that state-licensed cannabis companies will continue growing revenue as more states join the 21 that allow recreational sales.
EXIT STAGE LEFT
Canopy Growth says goodbye to Canadian retail
The Leader Post writes that Canopy Growth Corporation has completed a deal to divest its retail operations across Canada, a transaction the company says will allow it to “focus on achieving profitability through streamlined operations in Canada”
Under the transaction, OEG Retail Cannabis (OEGRC) will take over 23 Tweed and Tokyo Smoke retail storefronts across Canada.
David Klein, CEO of Canopy Growth told the publication: “The divestiture of our Canadian retail business marks an important step forward on our path to profitability and furthers Canopy Growth’s focus on generating revenue growth in the Canadian market.
“These retail locations will continue operating under the experienced leadership of [OEGRC] and FOUR20 under their respective retail brands to serve Canadian consumers with high-quality in-store experiences.”
Cannabis stocks are down, but is now the time to buy?
“Buy the dip,” says Cantor Fitzgerald analyst Pablo Zuanic in his January 2023 outlook piece on the weed industry, writes Barrons.
Pinning the likes of Curaleaf Holdings and Green Thumb Industries as favorite stocks along with Cresco Labs and Trulieve Cannabis, Zuanic notes that their ground-down stocks leave these growing companies valued at less than two times 2023 sales and eight times earnings before interest, taxes, depreciation and amortization, or Ebitda.
Barrons highlights that Zuanic remains convinced that state-licensed cannabis companies will continue growing revenue as more states join the 21 that allow recreational sales.
EXIT STAGE LEFT
Canopy Growth says goodbye to Canadian retail
The Leader Post writes that Canopy Growth Corporation has completed a deal to divest its retail operations across Canada, a transaction the company says will allow it to “focus on achieving profitability through streamlined operations in Canada”
Under the transaction, OEG Retail Cannabis (OEGRC) will take over 23 Tweed and Tokyo Smoke retail storefronts across Canada.
David Klein, CEO of Canopy Growth told the publication: “The divestiture of our Canadian retail business marks an important step forward on our path to profitability and furthers Canopy Growth’s focus on generating revenue growth in the Canadian market.
“These retail locations will continue operating under the experienced leadership of [OEGRC] and FOUR20 under their respective retail brands to serve Canadian consumers with high-quality in-store experiences.”
Cannabis stocks are down, but is now the time to buy?
“Buy the dip,” says Cantor Fitzgerald analyst Pablo Zuanic in his January 2023 outlook piece on the weed industry, writes Barrons.
Pinning the likes of Curaleaf Holdings and Green Thumb Industries as favorite stocks along with Cresco Labs and Trulieve Cannabis, Zuanic notes that their ground-down stocks leave these growing companies valued at less than two times 2023 sales and eight times earnings before interest, taxes, depreciation and amortization, or Ebitda.
Barrons highlights that Zuanic remains convinced that state-licensed cannabis companies will continue growing revenue as more states join the 21 that allow recreational sales.
EXIT STAGE LEFT
Canopy Growth says goodbye to Canadian retail
The Leader Post writes that Canopy Growth Corporation has completed a deal to divest its retail operations across Canada, a transaction the company says will allow it to “focus on achieving profitability through streamlined operations in Canada”
Under the transaction, OEG Retail Cannabis (OEGRC) will take over 23 Tweed and Tokyo Smoke retail storefronts across Canada.
David Klein, CEO of Canopy Growth told the publication: “The divestiture of our Canadian retail business marks an important step forward on our path to profitability and furthers Canopy Growth’s focus on generating revenue growth in the Canadian market.
“These retail locations will continue operating under the experienced leadership of [OEGRC] and FOUR20 under their respective retail brands to serve Canadian consumers with high-quality in-store experiences.”
CUSP OF CHANGE
Adult-use cannabis legalization expected in the US Virgin Islands
A veto-proof majority of lawmakers in the U.S. territory voted to send The Virgin Islands Cannabis Act to the desk of Gov. Albert Bryan. The governor is expected to sign the bill into law, according to the Virgin Islands Consortium, writes MJ Biz Daily.
The publication also highlights that the bill:
● Legalises cannabis for adults 21 and older.
● Creates a “regulated system for the cultivation, manufacture, and sale of cannabis for adult, medical, and sacramental use.”
● Allows members of religious organizations to grow up to six mature plants.
Sen. Janelle Sarauw, the bill’s sponsor, said that lawmakers “did … due diligence in protecting the masses and the best interests of our residents by ensuring that locals and minorities are not locked out of the industry and have an opportunity to participate in its economic potential.”
Cannabis stocks are down, but is now the time to buy?
“Buy the dip,” says Cantor Fitzgerald analyst Pablo Zuanic in his January 2023 outlook piece on the weed industry, writes Barrons.
Pinning the likes of Curaleaf Holdings and Green Thumb Industries as favorite stocks along with Cresco Labs and Trulieve Cannabis, Zuanic notes that their ground-down stocks leave these growing companies valued at less than two times 2023 sales and eight times earnings before interest, taxes, depreciation and amortization, or Ebitda.
Barrons highlights that Zuanic remains convinced that state-licensed cannabis companies will continue growing revenue as more states join the 21 that allow recreational sales.
EXIT STAGE LEFT
Canopy Growth says goodbye to Canadian retail
The Leader Post writes that Canopy Growth Corporation has completed a deal to divest its retail operations across Canada, a transaction the company says will allow it to “focus on achieving profitability through streamlined operations in Canada”
Under the transaction, OEG Retail Cannabis (OEGRC) will take over 23 Tweed and Tokyo Smoke retail storefronts across Canada.
David Klein, CEO of Canopy Growth told the publication: “The divestiture of our Canadian retail business marks an important step forward on our path to profitability and furthers Canopy Growth’s focus on generating revenue growth in the Canadian market.
“These retail locations will continue operating under the experienced leadership of [OEGRC] and FOUR20 under their respective retail brands to serve Canadian consumers with high-quality in-store experiences.”
Mike Hoban
Other featured articles
