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REUTERS/Dado Ruvic/Illustration/File Photo This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Chatter in the Reddit forum Wall Street Bets has turned to pot stocks like Tilray and Aphria. Cannabis stocks have soared, buoyed Democrats plans to federally decriminalize cannabis. But investors say those looking to bet on US legalization are looking in the wrong place. The traders who hang out on the Reddit forum Wall Street Bets have a new target as GameStop shares fall back to earth: cannabis. Canadian cannabis stocks like Tilray and Aphria which agreed to merge in a $4 billion deal in December have surged since President Joe Biden took office and top Senate Democrats have said they want to federally decriminalize cannabis. ....
(4) Technavio announces the release of its latest report on the legal cannabis market. The market is segmented by product (medical and recreational) and geography (APAC, Europe, MEA, North America, and South America). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210202006202/en/ Technavio has announced its latest market research report titled Global Legal Cannabis Market 2020-2024 (Graphic: Business Wire) Get a Free Sample Report Delivered Instantly to Know More ....
The Globe and Mail Tara Deschamps Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer HO/The Canadian Press Aphria Inc. (APHA-T) chief executive Irwin Simon is seeing green as Democrat Joe Biden prepares to be sworn in as president of the United States next week. Simon said Thursday that he has his sights set on the burgeoning U.S. pot market for the Leamington, Ont.,-based cannabis company. “The recent election will likely provide a stronger near-term potential for change of federal cannabis regulations and at Aphria we are ready and well-positioned for it,” he told a conference call with financial analysts to discuss the company’s latest financial results. ....
Canadian cannabis stock Aphria popped Thursday morning after the company posted better-than-expected revenue for its November quarter. The company (ticker: APHA) reported a net loss of 120.6 million Canadian dollars (US$95 million) or 42 Canadian cents per share. Its adjusted earnings, which excludes non-recurring items like losses on convertible debentures and share-based compensation, hit one Canadian cent per share. Aphria’s sales appeared to a main focus for investors, however. Net revenue jumped 33% year-over-year to C$160.5 million, while Wall Street analysts expected C$153.9 million. Investors have had other reasons to become more optimistic about Aphria stock: In December the company announced a merger with Canadian peer ....