Canopy Growth Corp (NYSE:CGC) shares just broke above key 200-day MA resistance after breaking out above the prior downtrend line earlier this month.
The signs of a shift in trend continue to appear for this space and this stock. $24-25 is the next key zone to beat.
Canopy Growth Corp (NYSE:CGC) engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps.
According to its own materials, the company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.
This is also one of the most geographically diversified players in the cannabis space, with operations in 12 countries across five continents.
One of its most important divestitures and strategic interests is Canopy Rivers Inc., a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. The company works collaboratively with Canopy Growth to identify strategic counterparties seeking financial and/or operating support.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. CGC shares have been moving higher over the past week overall, pushing about 28% to the upside on above average trading volume.
Canopy Growth Corp (NYSE:CGC) generated sales of $123.8M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 61.5% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($2.3B against $418.3M).
Aphria Inc (NYSE:APHA) is knocking on the door to a potential bullish shift, but it hasn’t broken through yet.
Shares of the stock are currently testing confluence resistance at the 200-day MA, the downward sloped trendline, and established price level resistance in the $4.00-4.50 zone.
Aphria Inc (NYSE:APHA) commands a market cap of $3.46B as a leading global cannabis company driven by “an unrelenting commitment to our people, product quality and innovation.”
Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of safe, clean and pure pharmaceutical-grade cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria is committed to bringing breakthrough innovation to the global cannabis market.
The Company’s portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment. “Rooted in our founders’ multi-generational expertise in commercial agriculture, Aphria drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion, with a presence in more than 10 countries across 5 continents.”
The company touts itself as one of Canada’s lowest cost producers, produces, supplies and sells medical cannabis. The company is truly powered by sunlight, allowing for the most natural growing conditions available. “We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first public licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.”
The stock has been acting well over recent days, up something like 19% in that time. Shares of the stock have powered higher over the past month, rallying roughly 17% in that time on strong overall action.
Aphria Inc (NYSE:APHA) pulled in sales of $144.4M in its last reported quarterly financials, representing top line growth of 96.3%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($515.1M against $178.1M).
Curaleaf Holdings Inc (OTCMKTS:CURLF) has been ahead of the pace in this cannabis sector bull move over the past 60 days, already breaking above major MA and trendline resistance. The next big level is looming above at $8/share.
That said, some degree of consolidation is possibly called for here after nearly 200% in gains over just two months.
Curaleaf Holdings Inc (OTCMKTS:CURLF) promulgates itself as a company that operates as an integrated medical and wellness cannabis operator in the United States.
The Company is the parent of Curaleaf, Inc., a leading vertically integrated cannabis operator in the United States. Headquartered in Wakefield, Massachusetts, Curaleaf, Inc. has a presence in 12 states.
Curaleaf, Inc. operates 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.
Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.
It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls and flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles.
The company also provides non-cannabis services to licensed cannabis operators in the areas of cultivation, extraction and production, and retail operations. As of November 01, 2018, it operated a network of 29 dispensaries. The company was founded in 2010 and is headquartered in Wakefield, Massachusetts.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. CURLF shares have been moving higher over the past week overall, pushing about 4% to the upside on above average trading volume.
Curaleaf Holdings Inc (OTCMKTS:CURLF) pulled in sales of $99.6M in its last reported quarterly financials, representing top line growth of -23.3%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($54.9M against $137.8M, respectively).