Over the last few years, the cannabis industry has grown at a rapid pace. Public opinion of cannabis has drastically changed, for the better, which in turn supports the legalization efforts seen around the globe. The once frowned upon cannabis industry has now attracted the attention of Wall Street’s financial institutions, who have started to cover the budding industry.
Several investment banks like Cowen, Piper Jaffray and RBC Capitals have supported industry by covering public companies whose operations include cannabis. Analyst Nik Modi of RBC Capitals analyst thinks that the cannabis industry is the next up and coming global industry. Modi forecasts that the legal U.S. cannabis market will grow at a projected compound annual growth rate of 17% to reach as much as $47 billion in the next ten years. As the cannabis industry continues to grow, there are several cannabis stocks to consider for your portfolio.
Leafbuyer Technologies, Inc. (LBUY) a leading cannabis technology and marketing platform that connects consumers to dispensaries and product companies, announced that its quarterly cash sales growth rose 36% year over year in the quarter ending March 31, 2019. The company attributes this success to mainly to platform enhancements, order ahead and Leafbuyer loyalty as well as a multi-state sales team. The company’s go forward plan is to continue to expand into newly legal US markets, while increasing consumer retention to boost bottom line revenues.
Last month. Leafbuyer announced that the number of its Greenlight platform users has reached nearly 80,000. The platform allows consumers to order cannabis products ahead, earn loyalty points, and cut the line to pick up and pay at participating dispensaries. At the time of this news release, the number of Leafbuyer dispensary clients with capabilities grew to 60 dispensaries, located throughout the states of California, Colorado, Oklahoma, and Michigan.
“This growth provides momentum and a solid foundation for 2019. As we increase our national footprint and expand our industry leading platform, we’re forecasting significant sales gains through the remainder of the year,” said Kurt Rossner, CEO.
Canopy Growth Corporation (CGC) (WEED), a world-leading diversified cannabis and hemp company, will now replace Goldcorp in the S&P/TSX 60 Index effective before the opening bell on April 18, according to the S&P Dow Jones Indices.
Canopy Growths’ wholly-owned subsidiary, Spectrum Cannabis, announced a partnership with and endorsement from CARP, Canada’s largest and most trusted advocacy association for aging Canadians. Spectrum Cannabis will be offering tailored educational initiatives on medical cannabis for over 320,000 CARP members through and its print, online, radio and TV voice, ZoomerMedia.
“This partnership with CARP, an organization dedicated to improving the lives of Canadians above the age of 45, will help to disseminate accurate information and quality products to a patient demographic that is highly engaged in learning more about how medical cannabis can improve their quality of life when conventional medicine just isn’t enough,” commented Mark Zekulin, President & Co-CEO.
Aurora Cannabis Inc. (ACB), a world leading cannabis company, announced an update on the status of Aurora Sun, its latest and largest Sky Class facility currently under construction in Alberta. The facility will now be expanded to 1.62 million square feet, a 33% increase from its original plans to meet consumer demands. Aurora predicts that production capacity at Aurora Sun will be over 230,000 kg of high-quality cannabis annually.
“Aurora Sun represents the next evolution in our Sky Class facility design, delivering massive scale, low cost production, and consistent, high-quality cannabis,” said Terry Booth, CEO. “The increased scale of Aurora Sun reflects our expectations for the long-term growth in global demand, especially the higher margin international medical markets which will be faced with significant supply shortages for the foreseeable future. Sun is also designed with flexibility in mind to enable us to quickly meet changing market demands, particularly as breeding and cultivation technologies evolve and as customer preferences and requirements change.”
Following the announcement of the addition of activist investor Nelson Petlz in March, Aurora most recently hired Carey Squires as Executive Vice President of Corporate Development and Strategy to focus on global growth and partnership strategies and investor development.
Aphria Inc. (APHA) , a leading global cannabis company, is scheduled to report fiscal Q3 earnings on April 15. Most recently, the company announced that its German subsidiary Aphria Deutschland GmbH was selected by the German Federal Institute for Drugs and Medical Devices to receive a license for the domestic cultivation of medical cannabis in Germany.
“Aphria is proud to have been selected as a successful applicant in the German tender process, a testament to our high production quality standards,” said Hendrik Knopp, Managing Director of Aphria Germany. “The decision from BfArM is a validation of our strategic approach to supporting the German medical cannabis market, including with high-quality, domestic production to secure vital supply for patients. We are very pleased with our continued business momentum in Germany.”
This came off the news that Aphria Deutschland GmbH had launched the company’s first CBD-based nutraceutical, the first product in its CBD-based cosmetics line for the German market. Featuring CBD derived from hemp, the CannRelief brand of products are being produced in the European Union and distributed by the Aphria’s subsidiary, CC Pharma, that has access to over 13,000 German pharmacies.
This blog is an affiliate of Midam Ventures, LLC. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Leafbuyer Technologies Inc., Midam is being paid $50,000 for a period of 30 days beginning November 1, 2018, and ending November 30, 2018. Midam has been paid an additional $50,000 and 40,000 common restricted shares of Leafbuyer Technologies, Inc. extending the contract another 30 days ending December 31, 2018. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to January 31, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to March 1, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to April 1, 2019. Midam has been compensated an additional $100,000 by Leafbuyer Technologies for a period of coverage from April 12, 2019 to June 12, 2019. Midam may buy or sell additional shares of (LBUY) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Leafbuyer Technologies Inc.. Click here for full Midam disclaimer.