MJ Stocks
Acreage Holdings Inc (OTCMKTS: ACRGF) Stock Forecast – 2019 Set to be a Big Year
Acreage Holdings Inc (OTCMKTS: ACRGF) is an investment firm headquartered in New York City and has several operations for cannabis. The firm went public in November 2018 on the Canadian stock exchange.
Acreage Holdings Stock Price Analysis
Acreage Holdings has a market cap of about $2.5 billion and owns a portfolio of marijuana cultivation, processing as well as dispensing operations in the United States.
Acreage Holdings’ price has been going down (even though it was trading higher at $24.24 at the beginning of the year). Currently, the stock’s price stands at $18.86 although it’s inevitable that the price would start getting up
shortly.
How Has the Stock Performed?
Year to date, Acreage has gained more than 18.3% which is impressive given the fact that the company is still on the move going forward. Currently, the firm has cultivation, processing as well as dispensing operations across 14 states in the US.
The company started 2019 with a bang with the stock going up, and later it qualified to get listed on OTCQX marketplace, which happens to be reserved for firms with massive financial standards.
Subsequently, the cannabis firm completed the acquisition of Nature’s Way Nursery of Miami which is a Florida-based marijuana company. All the developments contributed to its rise in stock at that time. Although the price is relatively down at the moment, it’s inevitable that soon it will again start the upward trajectory.
Who hasn’t heard of the Canopy-Acreage deal?
Evidently, more and more significant deals take place in the cannabis industry, and the latest one is the deal between Acreage Holdings Inc. and Canopy Growth Corp. It’s far too way challenging to look at Acreage-Canopy deal and fail to see CGC as the winner. However, ACRGF will welcome the deal as there’s an influx of cash.
What about the letter of intent?
Acreage holdings and green acreage Real Estate Corp. entered into a partnership whereby GARE would purchase as well as lease back the Acreage marijuana-related real estate assets.
Will Acreage Holdings Rise?
Acreage Holdings has shown robust revenue growth alongside plowing money back into business for future expansion. With total cash at hand of more than $74 million, the company has sufficient enough funds for additional acquisitions as it seeks to boost production as well as its dispensary footprint.
Besides, the general cannabis industry is on an upward trajectory in 2019, and Acreage Holdings is without a day on the same path.
To ensure that it continues to rise, recently, the firm began Form Factory operations in the new Oakland facility whereby it plans to manufacture both the internal brands like Natural Wonder as well as external brands.
As it looks, the company’s strategy is designed in that it stays replicable hence promising a smooth way for expanding operations so as to meet the ever-increasing demand for cannabis.
Towards last year the firm opened 3 new dispensaries in Q4, and by March this year it had ramped up several store openings with an additional five stores. In the next quarter, revenue is expected to grow by 20%.
Ignoring the Loss
In Q4 2018, Acreage Holdings realized a net loss of $218 million, but almost $200 million was from unrealized losses on the derivatives as well as non-cash stock compensation. In general, the firm lost $10 million on revenue of $23 million.
Bottom Line
The consensus is that Acreage is well-positioned to turn the tables regarding the price and support consolidation of the highly-consolidated marijuana market that is promising stronger growth onward. Undoubtedly, the firm has strong management with the latest addition of John Boehner, former Speaker of the U.S. House of Representatives, to the board of directors.
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Disclosure: We have no position in ACRGF and have not been compensated for this article.
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Medical Marijuana Stock (OTCMKTS:MJNA) has emerged as one of many investor’s favorite pot stocks in the legal cannabis universe in 2020. The stock is already up about 10% in 2020, demonstrating how investors have warmed up to the stock early on in the New Year.
Following a disastrous 2019, cannabis investors lost money but have also learned that their best bets are stocks with strong fundamentals. They are looking for companies that have positioned themselves well in the cannabis industry and have what it takes to go for the opportunities. That is why MJNA stock is catching a lot of investor attention in 2020 because of how it has positioned itself in the cannabis market.
Robust revenue growth and strong financial position have also helped put MJNA on the radar of investors hunting for quality cannabis stocks. Revenue at MJNA more than doubled from $26.5 million in 2017 to $60 million in 2018. MJNA is also not in financial distress as may be the case with other cannabis companies out there. The company finished the third quarter, the most recent reported period, with $5.5 million in cash reserves.
Moreover, MJNA has recently taken steps to expand into new international markets and invest in companies that are leaders in their segments. These prudent actions are helping lift Medical Marijuana stock as more investors learn about them.
About Medical Marijuana stock
Medical Marijuana…
For Tilray Inc (NASDAQ:TLRY) and the rest of cannabis stocks, 2019 was no doubt a bad year. But 2020 is shaping up to be a promising year for the stock. To start with, Tilray stock has already gained 8.35% year-to-date. If that says anything, it shows following the broad selloff in Tilray stock last year, we’ve got to a point where sellers are giving way to buyers in the stock.
There are several catalysts that should continue driving NASDAQ:TLRY as you’re about to see. First, below is a brief profile of the company we’re discussing.
About NASDAQ:TLRY
Tilray is a Canada-headquartered global cannabis company. It is engaged in activities of cannabis cultivation and processing as well as marketing and distribution of cannabis products. Tilray already has several cannabis products brands to its portfolio. It operates across five continents through subsidiaries in Canada, Australia, Germany, and Portugal.
Following the broad collapse of cannabis stocks in 2019, investors are looking for cannabis stocks that can make a positive impact on their portfolios in 2020. Tilray stands out as an attractive cannabis stock pick in 2020. Here are some of the exciting things about the company.
Tilray CEO sees a bright future for the cannabis industry
On January 25, Tilray CEO Brendan Kennedy spoke on Bloomberg. In that interview, Kennedy framed a rosy outlook for the…
Cronos Stock (TSE:CRON)(NASDAQ:CRON) stock fell 9.22% on January 24, marking its steepest decline so far in 2020. The stock plunge followed an important disclosure that you would only expect from a company that is trying to be straight and transparent with investors. Here’s what happened.
On January 22, after market close, Cronos made a regulatory filing detailing changes in its executive team. In that SEC filing, Cronos revealed that David Hsu and William Hilson have stepped down as its chief operating officer and chief commercial officer, respectively. Unfortunately, some investors read bad news in the executive exits and sold their shares in Cronos.
But a careful reading of the filing doesn’t seem to raise any red flags. Therefore, the big stock plunged points to investors panicking to the degree of responding to a mosquito bite with a missile.
There is no doubt that 2019 was a difficult year for cannabis stocks and Cronos Stock is no exception. But before the uncalled for reaction to Cronos’s regulatory filing, we had been at a point where sellers were starting to give way to buyers in Cronos stock. The stock has gained about 8.0% in the past one month. It had gained more than 13% year-to-date before the January 24 big selloff.
About Cronos Stock
Cronos Stock is a Canada-based global cannabis company. Cronos operates through subsidiaries and…
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