Cannabis Prevented Covid: What Stocks to Follow
We’ve been dealing with Covid-19, it seems like for years and it has impacted almost everyone we know. Some folks have lost income, some have lost the most precious thing, loved ones. Our country is also divided on the basics of this pandemic. However, there might be a light at the end of the tunnel with a surprising,but well known, hero. Marijuana, cannabis, wacky tobacky, whatever you call it is showing clinical research to prevent Covid-19. Cannabis Prevented Covid: what stocks to follow so we can make some money.
Cannabis prevented Covid infection in a study released this week and it has Wall Street in a frenzy! Marijuana stocks have been taking a beating over the last year so this is a much needed clinical research for those cannabis traders.
Cannabis Prevented Covid, now what?
There is an incredible article by Bloomberg, here. As we start looking at the impact of this news, we should start researching Cannabis stocks to see if we can capitalize on this amazing green rush that could take place. Cannabis Prevented Covid: what stocks to follow below.
3 Cannabis Stocks To Watch
1. Ticker Corp Name Exchange: CRBP Corbus Pharmaceuticals Holdings, Inc. OTC
Summary: Corbus is committed to connecting innovation to our purpose of improving lives by developing new medicines that target inflammation, fibrosis, metabolism and immuno-oncology, by building upon our underlying expertise in immunology. Corbus’ current pipeline includes small molecules that activate or inhibit the endocannabinoid system and anti-integrin monoclonal antibodies that block activation of TGFβ.
2. Ticker Corp Name Exchange: CGC Canopy Growth Corp NASDAQ
Summary: Canopy Growth (TSX:WEED, NASDAQ:CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis.
Leveraging consumer insights and innovation, we offer product varieties in high-quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel.
Our global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany.
3. Ticker Corp Name Exchange: TLRY Tilray Brands NASDAQ
Summary: Tilray, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people’s lives for the better – one person at a time – by inspiring and empowering the worldwide community to live their very best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing.
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How Canopy Growth Corp (TSE:WEED) Shares Reacted to Earnings
Canopy Growth Corp (TSE:WEED) shares were down 8.08% to $11.95 on Tuesday and flat in after-hours trading. Share prices have been trading in a 52-week range of $2.70 to $17.86. The company has a market cap of $1.99 billion at 159.13 million shares outstanding.
Formerly known as Tweed Marijuana Inc, Canopy Growth Corp is a diversified cannabis company. Through its subsidiaries Tweed Inc. (Tweed), Bedrocan Canada Inc. (Bedrocan) and Tweed Farms Inc. (Tweed Farms), is engaged in the business of producing and selling legal marijuana in the Canadian medical market. It is also focusing on producing and selling marijuana in the recreational market in Canada. Its core brands are Tweed and Bedrocan.
Tweed is a licensed producer of medical marijuana. Tweed’s commercial license covers approximately 168,000 square feet of its Smiths Falls facility and allows Tweed to produce and sell approximately 3,540 kilograms of medical marijuana per year. Tweed’s built-out production capacity is over 10 climate controlled indoor growing rooms. Bedrocan is a medical-grade cannabis. Bedrocan’s over 52,000 square feet production facility in Toronto, Ontario is licensed, and includes over 30 vegetative and growing rooms, and over three dispensing rooms.
Canopy Growth Corp recently printed its quarterly earnings figures and investors seem unimpressed. The company reported over 29,000 registered patients at December 31, 2016 compared to over 8,000 at December 31, 2015, representing a greater than 260% increase. It made revenue of $9.8 million, which amounts to a 15% increase over the second quarter in the fiscal year 2017 and 180% increase over the prior year period.
However, the company admitted that revenue growth was limited by the product mix available for sale, as supply was limited in the quarter due to rigorous procedures to fully test the record harvest and approve the extensive product released for sale subsequent to quarter end. Still, it was able to harvest a record 5,264 kilograms compared to 1,711 kilograms in the second quarter fiscal year 2017, which amounts to a 208% increase.
The third quarter provided new opportunities and challenges for our business, with demand largely exceeding supply throughout the quarter,” said Bruce Linton, Chairman & CEO of Canopy Growth Corp. “A function of our growing patient base, the time required to move from a record harvest to sale, and an extensive phenotyping exercise to establish breeding stock and further elevate our product offering all resulted in constrained product available for sale during the quarter. The successful late-quarter harvest of the Tweed Farms facility running at full capacity has begun to ease supply constraints while at the same time we have introduced a new diversity of product into our online store under the Tweed, Leafs By Snoop and DNA Genetics banners, driving strong sales this month.”
Other developments over the period included the acquisition of a 472,000 square foot and 42 acre property at 1 Hershey Drive, Smiths Falls, Ontario on January 13, 2017. This is on top of the acquisition of Mettrum Health Corp on January 31, 2017 and the change in the TSX trading symbol from CGC to WEED early this month.
We continued to push the boundaries of our business during the quarter through multiple strategic accomplishments that will help drive our future growth. We worked to strengthen our market position in Canada with our move to acquire Mettrum and the acquisition of Vert Cannabis to establish a unique brand presence in Quebec. We also established a base of operations in Germany, a strategic future market for Canopy, with the purchase of cannabis distributor, MedCann GMBH,” added Linton.
DISCLAIMER: There is a substantial risk of loss with any speculative asset, especially small cap stocks. The opinions expressed are those of the author, and do not constitute recommendations to buy or sell a stock. Do your own research before committing capital.