Six under-the-radar U.S.-focused cannabis picks Shirley Won Published May 19, 2021
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U.S. cannabis stocks have taken a beating, providing a buying opportunity for investors looking to bet on a pot boom south of the border.
Optimism for marijuana legalization pushed by top Senate Democrats helped fuel a rally until February, but the sector sold off amid market concerns about rising interest rates and owning riskier securities as well as tightened financing by some brokerages to hedge funds.
Although federal reforms may be slower in coming, the U.S. industry is growing with more states legalizing medical and adult-use cannabis and some companies on the road to profitability.
On Monday,
Tilray, Inc. (NASDAQ:TLRY) and
Aphria, Inc. (NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a combined market cap of $3.3 billion. Benzinga spoke with
Irwin Simon, CEO of the new combined company.
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Following the merger, Jefferies upgraded the rating for Tilray from Underperform to Buy, while raising the price target from $4.77 to $23.
Jazz Pharmaceuticals (NASDAQ:JAZZ) finalized its acquisition of
GW Pharmaceuticals plc. (NASDAQ:GWPH), the producer of the FDA‑approved prescription cannabidiol drug Epidiolex, for $7.2 billion or $6.7 billion net of GW Pharma s cash.
Meanwhile,
Ascend Wellness Holdings (CSE:AAWH) started trading on the Canadian Securities exchange following a raise of approximately $80 million through an initial public offering of roughly 10 million shares of its Class A common stock at $8 per share.
Vertically integrated cannabis company
Lowell Farms Inc. (CSE:LOWL) (OTCQX:LOWLF) said Tuesday it has generated $11 million in revenue during the first quarter of the 2021 fiscal year, representing an increase of 17% year-over-year.
The Salinas, California-based company, formerly known as Indus Holdings Inc., recently bought
Lowell Herb Co., a California-based organic cannabis brand, in a $39 million cash and stock deal and opted to change its name.
“We are seeing promising results from the sales of the recently acquired Lowell Herb Co. branded products,” Lowell Farms CEO Mark Ainsworth disclosed.
“While we saw improvements in revenue year-over-year, the results showcased in this quarter still reflect the headwinds we encountered in 2020,” he commented on the first-quarter results.
Vertically integrated cannabis company Lowell Farms Inc. (CSE: LOWL) (OTCQX: LOWLF) said Tuesday it has generated $11 million in revenue during the first quarter of the 2021 fiscal year, representing an increase of 17% year-over-year.
The Salinas, California-based company, formerly known as Indus. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
Vertically integrated cannabis company Lowell Farms Inc. (CSE: LOWL) (OTCQX: LOWLF) said Tuesday it has generated $11 million in revenue during the first quarter of the 2021 fiscal year, representing an increase of 17% year-over-year.
The Salinas, California-based company, formerly known as Indus. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to: