HEXO, OGI and APHA released their profits this week
Welcome back to our weekly series, Schaeffer’s Cannabis Stock News UpdateHere we round up what happened in the world of marijuana stocks last week and look ahead to how the cannabis industry will develop in 2021.
Investor interest in the cannabis industry is growing at an explosive rate of growth, and leading players continue to break legal barriers after legal barriers, particularly in the US. By the end of 2020, more than 40 US states had legalized recreational and / or medical marijuana. Now more and more companies are seeing the possibility of growing, marketing, distributing and technology cannabis.
According to a current forecast by HeadsetThe U.S. cannabis market is projected to reach roughly $ 23 billion in sales this year, well above the 2021 estimate for the Canadian cannabis market of $ 4 billion. Headset also assumes that both the US and Canadian cannabis markets will continue to grow over the next two years, but that the top Canadian real estate market will advance more than twice as fast as the US cannabis market.
Here’s a quick recap of this week’s top cannabis stock news:
Aphria Inc. (NASDAQ: APHA), a global leader in cannabis lifestyle consumer products that inspires and empowers the global community to live their best lives, announced the addition of Good Supply’s high-potency THC 30: 0 and Solei Plus + oils to its award-winning adult brand portfolio, which compliments a number of other available formats including whole dried flowers, pre-rolls, mouth sprays, soft gels, vapes and current themes April 15th. Aphria also reported financial results for the third quarter of 2021 on April 12. Net sales for the quarter were $ 153.6 million, an increase of 6.4% year over year and a decrease of 4.3% over the previous quarter. Options traderIn the meantime, the $ 15 level was targeted.
Canopy Growth Corporation (NASDAQ: CGC), the world’s leading diversified cannabis, hemp and vaporizer equipment company, announced the launch of Vert, the company’s first exclusive brand in Quebec on April 16. The first two strains to be launched under the Vert brand are “Green Cush” and “Sour Kush”, which are sold through Société Québécoise du Cannabis (SQDC). in dried flower and pre-roll hinge formats.
HEXO Corp (NYSE: HEXO) announced With effect from April 15, it has filed a new preliminary short-form basic shelf prospectus with the securities regulatory authorities and a corresponding shelf registration declaration on Form F – 10 with the SEC Offer from time to time individually or collectively in amounts at prices up to $ 1.2 billion.
Organigram Holdings Inc. (NASDAQ: OGI), a leading licensed cannabis producer, released The results for the second fiscal quarter 2021 on April 13th. In the second quarter of 2020, Organigram recorded a net loss of $ 66 million due to the negative change in the derivative’s fair value, a significant year-over-year decrease in option liabilities, and negative gross margin in the second quarter of fiscal 2021.
22nd Century Group, Inc. (NYSE: XXII), a leading herbal biotechnology company focused on tobacco damage reduction, ultra-low nicotine tobacco, and hemp / cannabis research, announced On April 15th, the 22nd century group stands ready to assist New Zealand in its efforts to become a smoke-free nation by 2025.