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Cannabis Stocks Grow On Sector’s Strong Earnings Reports

The strong earnings reported by the cannabis sector have provided a powerful growth impetus for the growers’ stocks. A very conspicuous one was Organigram Holdings Inc that reported record high sales growth for the quarter, with the figure topping 400%. The figures as strong as that combined with Organigram management’s planning to double the sales prompted investors to expect that other cannabis companies have a very good upside for growth, too.
Now investors anticipate just as upbeat sales and earnings reports to be published by other cannabis growers. They believe that the sector has started to boom, and many cannabis growers will be able to earn really big money.
Tilray (TLRY) stands out as underperformer, with its stock price declining on the back of the company’s two insiders announcing the sale of their stakes in the business. Tilray CEO Brendan Kennedy sold 149,916 Tilray shares for $11.1 million.
According to financial scouts, the cannabis market will continue to remain upbeat. With the strong financial and production reporting figures likely to be published, Canopy Growth (CGC) and Tilray are likely to grow to appreciable $49-$49.5 and $78-$80, respectively, in the days to come. And Aurora Cannabis Inc (ACB), Aphria Inc. (APHA) and Cronos (CRON) might climb to $7.5-$8, $8-$8.5 and $19-$19.5 in the offing, financial scouts say.

Ivan Marchena, Libertex Analyst

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[Libertex]

Cannabis producer stocks continue their rally

Increased investor confidence in the future of cannabis is helping shares in Canadian cannabis producers to sustain their rally,  This is true of both the medicinal and recreational-use markets. Additionally, the US's legalisation of hemp has opened up this market to a number of major Canadian producers who see significant changes in US legislation on the horizon.
There was even more good news for Cronos Group with industry heavyweight Altria investing $1.8 billion in the company in return for a 45% stake.
Short-term market sentiment will be determined by the quarterly financial reports of Aurora Cannabis (ACB), Cronos Group and Tilray (TLRY), which are to be published within the next few weeks. Investors will be expecting these producers to report sharp sales growth as a result of the recent increase in market outlets. They will also want to hear about their respective 2019 strategies.
For these reasons, we can expect to see increased volatility in this sector and any remotely significant development could trigger a marked jump or abrupt drop in share prices.
Financial scouts are predicting unit share price rises for the major cannabis producers within the following ranges: Canopy Growth (CGC) - $50-50.5, Cronos Group (CRON) $24-25, and Aphria Inc. - $11-12. Meanwhile, they expect shares in Aurora Cannabis to hit the $8.5-9 mark, with Tilray rising as high as $84-85.

Ivan Marchena, Libertex Analyst

[Libertex]

No discernible pattern to cannabis producer stock movements but general growth likely
Ambiguous news has meant there is no consistent pattern to cannabis producer share movements. For example, shares in Tilray (TLRY) are rising strongly after reports of a deal with Ohio-based Green Growth Brands that will see the Canadian company supply its US partner with CBD.
Aurora Cannabis Inc's (ACB) share price also increased significantly on news that its partner, Radient Technologies, had been granted a cannabis production license by the Canadian authorities. Following this announcement, the company's shares reached their highest level since the sector-wide boom we saw in November of the previous year.
Meanwhile, Canopy Growth Corp (CGC) is showing slightly lower share price growth, with Aphria Inc (APHA) firmly among the market minnows.
Financial scouts forecast that shares in cannabis producers could continue on their relative up-trend into the near future. Tilray's share price could grow to $80-80.5, while Aurora Cannabis Inc's might reach the $8.5-9 mark. Similarly, we could see Canopy Growth Corp hit $47.5-48, with shares in Aphria Inc and Cronos Group Inc (CRON) rising to $10.5-11 and $22-23 respectively.
Ivan Marchena, Libertex Analyst

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Cannabis stocks down on US legalisation doubts

Shares in Canadian cannabis producers are falling amid reports that the New York Department of Health has banned the sale of cannabis in restaurants and bars. Investors now fear that the legalisation of recreational use cannabis in the US is far from certain. Furthermore, the latest figures out of Canada show that the total number of cannabis users did not change significantly following the country's legalisation of the drug in October of last year. The market did however receive some good news in the form of reports suggesting that Thailand is considering decriminalising cannabis. Shares in Canopy Growth Corp (CGC) are demonstrating the best growth in the sector, with investors anticipating the company's entry into the US market. If Canopy Growth succeeds in this ambition, it will most likely "pull up" the shares of some of the smaller players in this sector such as Aphria (APHA), Cronos Group (CRON) and Tilray (TLRY). The latest short-term forecasts from financial scouts predict industry-wide shares growth, with the major players' unit share prices rising to the following levels: Canopy Growth - $46, Tilray - $80, Aurora Canabis Inc (ACB) - $8, Aphria Inc. (APHA) - $10, and Cronos Group - $20.

Ivan Marchena, Libertex Analyst

[Libertex]

European markets await new developments on Brexit and US-Chinese trade relations Optimism regarding a resolution to the trade conflict between the US and China could see European stock markets grow. In other news, market insiders have been demonstrating reduced appetite as stocks undergo somewhat of a correction. Investors are choosing to err on the side of caution until they hear the experts' verdict on the current US-China trade talks. The two countries now have just two weeks left in which to reach a decision before the new higher import tariffs come into effect on 1 March. In the meantime, President Donald Trump has already stated publicly that this 1 March deadline for the introduction of new US tariffs on Chinese products could be postponed in the event that a bilateral agreement is close. Such comments are naturally contributing to increased investor optimism across the world. There was some good news for the European markets, too, in the form of rumours claiming Trump is now prepared to sign off on Congress's budget compromise. The budget includes provisions for the construction of an 88-km-long fence along the US's southern border, allocating $1.4 billion to the project as opposed to the $5.7 originally demanded by Trump. Meanwhile, the issue of Brexit remains the main focus of European investors. The United Kingdom's planned departure from the European Union on 29 March is now just six weeks away and, with no final deal in place, investors appear very restless as they react sharply to any Brexit-related news.

[Libertex]

Investors keeping close watch on US-China trade talks and United States' southern border
Investors in the Latin American stock markets are awaiting a decisive solution to the US-China trade conflict with bated breath.
For the time being, however, they remain cautious and are adopting a position of restrained optimism until the result of the talks becomes clear.
High level meetings between the sides are scheduled to take place as early as 21 February and will feature representatives including the Vice Premier of the State Council of the PRC.
Meanwhile, world oil prices are holding steady at their local maximums — which are high now that fears of a supply surplus have been assuaged — and this is benefiting the Latin American market.
The decision by the OPEC nations to reduce their output volumes coupled with the effect of US sanctions on Iran and Venezuela had a similar calming effect.
Elsewhere, financial scouts in Mexico are also carefully monitoring the situation along the US's southern border.
Trump had previously demanded that Congress allocate $5.7 billion dollars for the construction of the President's wall. When this was denied, a number of government departments refused to sign off on the budget for over a month, which resulted in a country-wide institutional shutdown.
In the end, the US Congress passed a budget which provided for just $1.4 billion in funding for a wall along the US-Mexico border. Trump responded by issuing a national emergency order to combat illegal immigration from Mexico and criminality on the US's southern border. This declaration means that the US President will now be able to access up to $8 billion in funds for his wall.
Vadim Kovalenko, Libertex Financial Scout

[Libertex]

Quarterly reports fail to boost cannabis stocks
As the quarterly reporting season continues on, there is still no unified pattern to cannabis stocks' movements. Following the publication of reports by Canopy Growth (CGC) and Aurora Cannabis (ACB), the market is still waiting to see the Q1 financial results of one more key industry player in Tilray (TLRY). This particular reporting period is especially significant for investors since it represents the first full quarter during which the sale of cannabis was legal across Canada. Several market pundits have forecast Tilray's Q1 per share earnings at $0.14. Canopy's financial statement revealed an overall more positive picture with earnings up 300% to CAD 80 million, though it still didn't quite live up to analysts' expectations. Aurora, on the other hand, posted losses of over CAD 200 million — just one year after reporting profits of around CAD 7.7 million. The company attributed these losses to ineffective management. Financial scouts believe that the marked variation in financial results across the industry's biggest players will mean cannabis shares trade mixed over the short-to-medium term. During this time, we can expect to see shares in Canopy Growth and Aphria Inc. rise to $49-49.5 and $10 respectively, whereas shares in Tilray (TLRY) and Aurora Cannabis are likely to fall to $75 and $6.5 respectively. Meanwhile, Cronos (CRON) could see its share price hit $22.
Denis Povtorenko, Libertex Financial Scout

[Libertex]

Cannabis stocks down on below average quarterly reports
Shares in Canadian cannabis producers are still falling as they attempt to regain the ground lost following some below average Q3 reports from several major industry players including Canopy Growth (CGC) and Tilray (TLRY).
Tilray's shares are losing slightly more than the industry average, but this is largely the work of a price correction in response to the significant jump seen after the company announced its plans to acquire world-leading hemp-based food products company Manitoba Harvest from Compass Group Diversified Holdings.
With an estimated value of $318 million (USD), the deal is scheduled to be completed within the next 30 days and would enable Tilray to offer a wider range of products to its customers in the US and Canada.
Financial scouts predict that cannabis stocks will continue their decline over the short-to-medium term, but could return to growth further down the line.
Over the coming days, we can expect Canopy Growth's unit share price to drop to $45, with Tilray's potentially slipping to $78.5. Meanwhile, Aurora Cannabis (ACB) is likely to slide to $6.5, with shares in Aphria Inc. (APHA) falling to $10. Finally, Cronos (CRON)'s share price looks set to drop to $22.

[Libertex]

Libertex named Best Trading Application and Best Crypto Currencies' Broker for 2018
The results of this year's Forex Awards are in and we are delighted to announce that the Libertex trading platform has been named the Best Trading Application and Best Crypto Currencies' Broker of 2018.
In the words of Igor Galkin, Libertex Group's Head of Global Business Development and Sales: "For the second year in a row now, Libertex has managed to top the Best Trading Application and Best Crypto Currencies' Broker categories. This latest victory is proof that — if you're looking to make sound investments on the world markets — you can't go wrong with Libertex".
The Libertex trading platform is certified by the Financial Commission and was named Best Trading Terminal in the EEA at the Global Banking and Finance Awards 2016.  Libertex is held in high regard by professional traders the world over and its recognition as the Best Trading Application and Best Crypto Currencies' Broker for 2017 and 2018 only serves to confirm this fact.
Libertex is an international brand with over 20 years of experience in financial markets and online trading. Since our founding in 1997, we have been helping our customers trade a variety of financial instruments, including CFDs, foreign currency, various indices, exchange commodities, gold, silver, oil, gas, and many more besides. Today, Libertex provides first-class service to over 2.2 million customers across the Americas, Europe and Asia.
The Libetex trading platform is a one-stop-shop that enables its users to trade across various segments of the financial market from traditional currencies, metals and energy resources, all the way to CFDs, crypto currencies, indices, ETFs and beyond. Libertex's straight-forward, user-friendly interface not only enables users to complete trades easily without worrying about stuff like spreads, margins and lots, it also comes complete with a powerful set of technical analysis tools. There are web-based, iOS and Android versions of the terminal available, so users can trade comfortably on any device they like. We even offer an desktop-installable version for both Windows and MacOS.

[Libertex]

Geopolitics and possible Brexit deadline extension weighing on European markets
There is a whole host of negative factors weighing on the European stock markets at present. Of these, two of the most significant are the escalating tensions between India and Pakistan and the potential extension of the Brexit deadline.
The increasingly heated political climate in Asia is evidence that the region is in the grips of a new, previously overlooked crisis which could have serious, negative consequences for the world's financial markets. Another equally worrying concern among investors is the Britain's impending exit from the European Union. The UK government is currently debating measures to extend the Brexit deadline beyond the original 29 March departure date in the event that its latest deal proposal fails to receive parliamentary approval.
Meanwhile, investors are also following the US Federal Reserve's rhetoric for any clues as to the regulator's future monetary policy. In addition to this, they are also taking direction from the US representatives at the China-US trade talks, who are reported to have said that it is still too early to predict the results of the negotiations. These comments spelled the end of a recent period of increased optimism that a resolution to the ongoing trade conflict between the US and China was close at hand. As we narrow our focus to the region's individual countries and their domestic stock markets, we see several internal factors at play. For example, the Netherlands government's unexpected move to purchase shares in Air France-KLM has alarmed the French authorities, who are still waiting for the Dutch to provide proper clarification on the motivation behind the decision.

[Libertex]

The shares in marijuana manufacturers still look mixed

The shares of the largest Canadian producers of marijuana continue to show mixed trends against the background of data about the cannabis legal and black market indicators for the country. The report that Aurora Cannabis Inc. (ACB) had closed a deal to acquire a company that produces medical marijuana in British Columbia in western Canada also impacted the market.
According to statistical data, the marijuana black market remained quite strong during the fourth quarter of 2018. Black market sales reached almost USD 900 million, while the legal market accounted for just over USD 300 million.
Shares of Aphria (APHA) are being bolstered by the news that the Canadian authorities have allowed the company to add additional production capacity. After this new production capacity is added, Aphria will be able to expand its manufacturing volume to up to 110,000 kilograms per year.
There is another notable piece of corporate news in the sector: Cronos Group (CRON) sold its stake in Whistler Medical Marijuana Corporation to Aurora Cannabis.
It is likely that shares in marijuana producing companies will continue to shift ambiguously in response to the combination of contradictory factors. Thus, shares in Aphria may rise to USD 11, whereas those in Cronos Group will drop to USD 20. Aurora Cannabis may drop in price to USD 7, and Canopy Growth (CGC) shares may appreciate to USD 46.

[Libertex]

Stock prices of the largest Canadian cannabis producers are dropping after the unexpected news that Scott Gottlieb stepped down as the Head of US FDA.

After two years in this position, he is expected to resign already next month.
These news were absolutely unexpected and, as a consequence, has affected the producers of Cannabis in a negative way, especially due to the fact that Gottlieb was known for his supportive attitude towards the cannabis dealing market. Just last week, he announced that public discussions regarding regulatory issues for this market segment would take place in April.
We can now expect that stocks of Cannabis producers will react to this unexpected negative event, and in several days, could suffer even more significant losses.
As financial scouts predict, Canopy Growth (CGC) stocks might drop in price to USD 45.5 - 46; Tilray (TLRY) - to USD 74.5-75, Aurora Cannabis (ACB) – to USD 6.5-7, Aphria Inc (APHA) – to USD 9-9.5 and Cronos (CRON) – to USD 22.

[Libertex]

European markets expected to fall on fears of a global economic slowdown

Europe's stock markets look set to remain subdued over the short-to-medium term on fears of a global economic slowdown and particularly poor economic indicators coming out of the Old Continent. The outlook only worsened following recent comments from the European Central Bank (ECB) as the regulator lowered its eurozone GDP growth forecasts for 2019 from 1.7% to 1.1%, also scaling down its 2020 projections from 1.7% to 1.6%. European stocks then took another hit following the publication of seriously weak Chinese exports data revealing an annualised fall of 20.7% for February. This comes after the previous month's numbers showed a 9.1% rise in January. Of course, these figures are a knock-on effect of the Asian giant's ongoing trade conflict with the USA.
The bad news continued for the European and world markets with poor labour market data from the US pointing to a deterioration of the economic situation in the country. All of the above factors explain why many investors are concerned about a potential slowdown in the global economy. Looking now to regional news, we received reports that the Sovereign Wealth Fund of Norway, which is responsible for managing the Nordic nation's assets, is set to sell its oil and gas shares under instructions from the country's Ministry of Finance. Meanwhile, Europe continues its wait for a definitive solution to the issue of Brexit.

[Libertex]

Cannabis stocks continue to rise on reports of US legalisation plans

Libertex notes that shares in major Canadian cannabis producers are rising after politicians in New Jersey made public their plans to legalise recreational cannabis use for adults over the age of 21. It has also been suggested that US local authorities will be permitted to tax cannabis producers operating on their territory at a rate of 2% of the companies' total earnings.
There was another welcome development for the sector in the form of Harvest Health & Recreation's announcement that it is to acquire competitor Verano Holdings in a deal that will see the purchasing company gain a further 30 retail outlets and 7 production facilities. According to its own projections, Harvest Health expects to own 70 retail locations, 13 farms and 13 production facilities by the end of the year.
Our financial scouts are convinced that the recent wave of positive market news will be sufficient to buoy cannabis stocks over the short-to-medium term. Their predictions include share price increases for all the major producers, with Tilray (TLRY) set to rise to $72.5-73, Canopy Growth (CGC) to $47-47.5 and Aurora Cannabis (ACB) to $8-8.5. Meanwhile, they expect shares in Cronos Group (CRON) and Aphria Inc (APHA) to reach $21.5-22 and $10 respectively.

[Libertex]

Correction sees cannabis stocks fall after rally on good corporate news runs course

Shares in most major Canadian cannabis producers are now undergoing a correction following moderate-to-strong growth in response to Hexo posting better Q2 earnings (up to $16.2 million).
As the company itself acknowledges, it owes a large part of this success to the significant rise in demand within the recreational cannabis sector as a whole. Just a day earlier, it was another positive development for Hexo that helped to buoy the market as the company announced plans to acquire Newstrike Brands Ltd. — a venture backed by former Canadian rock group The Tragically Hip — in a deal worth an estimated CAD 263 million (USD 198 million). Once it completes the acquisition, Hexo will gain close to 2 million square feet of additional production space.
Finally, the market received one last piece of good news this week in the form of Aurora Cannabis's (ACB) announcement that major investor Nelson Peltz had joined the company as a senior advisor.
In conclusion, it is likely that this downward correction will be sustained over the medium-to-short term, as is to be expected after such a sharp rise. With this in mind, we can expect shares in the big Canadian producers to continue on their current trajectory, with Aurora Cannabis tipped to fall to $8, Canopy Growh (CGC) to $45, Tilray (TLRY) to $72, Aphria to $12 and Cronos (CRON) to $20.

[Libertex]

European investors are worried about Brexit and are pretty skeptical when it comes to FRS policy.
European stock markets are nervous about the further perspective of Great Britain leaving Eurozone. It is still not clear whether it will be a Brexit with arrangements or not and when it will take place.
Brexit without a deal might seriously impact not just the British economy, but the Economy of the EU in general and some of its countries in particular. For example, Spain has assessed that in a worst case scenario, Brexit will cost the Spanish economy 10 bln euros. The British Chamber of Commerce has already downgraded its GDP growth forecast for 2019 from previously expected 1,3% to 1,2% against the backdrop of the continuing uncertainty about Brexit.
Meanwhile, the fact that Great Britain and the EU have coordinated a draft of the possible future memorandum of understanding that stipulates the information exchange between the regulatory bodies of the parties in the case of Brexit without a deal still looks positive to investors. At the same time, market players still hope that the agreement between the parties will be reached. Right now the EU still has to announce its decision with regards to the proposal of the British prime minister Theresa May to postpone the Brexit date to the 30th of June.
Apart from the events in the region, European investors have also paid their attention to the rhetoric of FRS of the USA. Despite of the fact that the financial market on the USA has preserved its basic interest rate in March and doesn't promise any further increases in the nearest future, financial scouts still point out that market players preserve their skepticism about the further politics of FED.

[Libertex]

Cannabis stocks could rally on good corporate news
Shares in Canada's biggest cannabis producing companies fell on Friday despite the market receiving several pieces of positive news.
Among these was the announcement by Canopy Growth (CGC) that it had acquired cannabis producer AgriNextUSA in a deal which Canopy's senior management believes will help the company expand its US business. This move comes shortly after another intra-sector acquisition saw the Canadian outfit add Colorado-based Ebbu to its portfolio.
Under the terms of the deal, AgriNextUSA's CEO will join the Canopy Growth team as its strategic advisor.
Then there was one final bit of good news for the market in the form of reports that Curaleaf has secured a deal that will see its products sold in hundreds of CVS Health stores across 10 US states.
Many financial scouts believe that these recent positive reports could bring a return to growth for stocks in this sector. Despite the recent decline, they are predicting unit share price increases for all major companies in this sector over the medium-to-short term, with Canopy Growth set to rise $47, Aurora Canabis (ACB) to $10 and Tilray (TLRY) to $71. Meanwhile, Aphria (APHA) is tipped to rise to $11, while Cronos (CRON) is seen up to $21.

[Libertex]

European Investors are worried about the perspectives of global economic development and Brexit.

European stock markets will be under hard pressure due to investors being nervous about further perspectives for development of the European economy as well as of global economy in general. Such concerns became really serious after the Eurozone and USA economic statistics were published. A serious deterioration in terms of forecasts on further perspectives for the world economy were given by various institutions and organisations.
Another topic for active discussions and increased concerns of market players is still related to the dynamics of profitability of US treasury bonds. The recent movements of the profitability curve make the investors think that a recession might take place in the US economy during this year.
Apart from this, the trading participants prefer to hold back from risky investments awaiting for another round of trading negotiations between the USA and China, that are scheduled for the 28th of March. In the beginning of April representatives of China are also going to pay a return visit to Washington.
Besides all the above-mentioned facts, the worries with regards to the Brexit deal also influence investment sentiments negatively. After the European leaders postponed the date when Great Britain is supposed to leave the EU for several weeks beyond the 29th of March date, the question about the scenario of this process still remains open.

[Libertex]

Cannabis stocks could rise on Cronos quarterly report
Shares in Canadian cannabis producers are trading mixed this Tuesday as the market awaits Cronos Group’s Q4 2018 report.

In the run-up to the release of Cronos’s final quarterly report for 2018, the company’s shares are rising and currently lead their sector, which would suggest that investors are anticipating positive results from the Canadian firm.

Still, the market’s growth has been somewhat restrained following reports that New Jersey has postponed a crucial vote on cannabis legalisation. The Garden State is at the forefront of the charge for legalisation in the US and is thus regarded as a barometer of the movement’s overall momentum.

Canopy Growth’s (CGC) shares are not faring particularly well this week despite the announcement that the company has been granted a license by the Canadian government to cultivate cannabis in the province of New Brunswick. The producer plans to grow approximately 5,000 kg of cannabis a year at this new facility, with the first harvest expected in just six months’ time.

Our financial scouts believe that future share movements in this sector will be largely determined by Cronos’s financial results. If they reveal strong indicators, then the company’s share price could reach $21-21.5, while Aphria’s (APHA) could rise to $10. Meanwhile, shares in Aurora Cannabis (ACB) could hit $10.5, with Canopy Growth and Tilray similarly rising to $44.5-45 and $68-68.5 respectively.

[Libertex]

European investors still on edge
Despite European investors' hope for a quick resolution to the trade conflict between China and the US, the future of the global economy and Brexit are still weighing on their minds.
Most market participants are hoping that both sides can reach a final agreement to end the current stand off. According to rumours we are hearing on the market, the countries' representative made some serious progress at the most recent round of talks and a final agreement is now close at hand.
Meanwhile, investors have been seriously concerned about the future growth of the global economy following the release of weak economic data from both the US and the eurozone.
Italy's projected GDP growth for this yer has now been lowered from 0.9% to 0%.
It is predicted that this indicator will only enter positive growth in 2020, when it is seen up 0.4% against 2019.
In other news, European investors are waiting for further developments in relation to Brexit after British MPs voted, as many anticipated, to postpone the date of the UK's departure from the EU.
At the same time, the UK parliament was unable to find majority support for any of the eight Brexit options currently on the table.