The rapid growth seen in the marijuana industry over the last few years has contributed to its success. With the recent increase in capital and more and more large corporations entering the market, the budding sector has driven significant interest to marijuana stocks.
The Brightfield Group estimates that global legal cannabis sales will reach more than $31 billion in 2021, up nearly 300% from less than $8 billion last year. As public opinion surrounding marijuana continues to become more favorable and bans continue to be lifted, the marijuana industry may present increased opportunities to investors looking to the sector.
With the numerous updates to legislation seen around the world last year and a more favorable public opinion towards the market, it seems as though the future may be even brighter. This has investors eager for whats to come. With that being said, there are several marijuana stocks to watch as the future looks more and more green.
Premier Health Group, Inc. (PHGRF) (PHGI) announced, further to its mid-December press release of a binding LOI, the company has now signed now a Definitive Agreement to acquire all of the outstanding securities of Cloud Practice Inc., a national cloud-based medical records software application company. The combined Premier and Cloud Practice ecosystem consists of over 3,000,000 patients.
“We are very excited to have completed this acquisition and to have the experienced team at Cloud Practice join the team at Premier Health. With this acquisition, we now have a medical software company with national reach. Thus, enabling us to build on our patient centric technology platform that will integrate telemedicine, online booking and other premium services with our electronic medical records (EMR) system,” said Dr. Essam Hamza, CEO.
The company also signed a binding LOI to acquire a British Columbia-based pharmacy and anticipates the acquisition to close in Q1–19, while it continues to evaluate additional pharmacy acquisitions and/or partnerships. Premier Health also provided an update on its expansion into the Cannabis clinic space, that it has been in discussion with ACMPR-Licensed Producers, other licensed medical cannabis companies and government officials to establish a framework and actively recruit additional physicians and a cannabis-focused physician.
Tilray Inc. (TLRY) announced that Privateer, a private-equity investor in the legal cannabis industry, has “strongly” emphasized that it does not have plans to register, sell or distribute the 75 million shares that Privateer owns in Tilray when a “lock-up” expires next week.
Michael Blue, Managing Partner of Privateer Holdings, commented, “Privateer Holdings strongly believes in Tilray’s long-term global growth strategy and pioneering role in shaping the future of the legal cannabis industry. Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019. When we decide to distribute shares, we will do so in an orderly and deliberate manner to maximize tax-efficiency considerations for Privateer investors, while also taking into consideration potential impacts on Tilray’s public float. And we will do it in a way that reflects our long-term confidence in Tilray’s business model and management team.”
Earlier this week coverage was initiated at Piper Jaffray with an overweight stock recommendation, with a price target of $90 as well as company annoucing that its wholly-owned subsidiary High Park, has received its processing license under the Cannabis Act to process cannabis into finished branded products at its state-of-the-art facility in Ontario. Furthermore, the facility will be able to conduct R&D on new cannabis form factors to develop and produce edibles, topicals and concentrates.
Aphria Inc. (APHA) reported fiscal Q2 earnings of $0.22 per share, up from $0.05 in the same period a year ago. For the quarter ended Nov. 30, total revenue of $21.7 million was up from $8.5 million in the same period a year ago. The company also annouced its Chief Executive Officer Vic Neufeld and Co-Founder Cole Cacciavillani will transition out of their executive roles over the coming months and remain on the board.
“This is the first quarter to partially include adult-use sales, helping to drive 63% quarter-over-quarter net revenue growth, as did continued strength in sales to the medical-use market. As expected, gross margins declined, reflecting lower effective selling prices in the adult-use market, as well as temporarily lower yields and higher production costs in the quarter as we moved aggressively to build out production facilities and implement new automation processes” said Vic Neufeld CEO.
Earlier this week, Aphria announced that it had completed its previously announced acquisition of CC Pharma GmbH, a leading distributor of pharmaceutical products to over 13,000 German pharmacies and throughout Europe as well as completing its first shipment of medical marijuana to Shoppers Drug Mart, where patients can now purchase Aphria’s cannabis products via Shoppers Drug Mart’s online store.
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