HEXO, SNDL and VFF reported all financial results last 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, 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.
Schaeffers Investment Research was honored to be included in Benzingas Cannabis Capital Conference End of February. You can cover the entire segment from our own Senior Market Strategist Matthew Timpane CMT on Facebook (FB). You can also check out this post If you’re interested in more cannabis stocks, we’re keeping an eye on them here at Schaeffer.
Here’s a quick recap of this week’s top cannabis stock news:
cbdMD, Inc. (NYSE: YCBD), one of the leading and most trusted and recognized cannabidiol (CBD) brands, announced on March 15th that it launched cbdMD Therapeutics LLC. This is a newly formed wholly owned subsidiary of cbdMD to isolate and quantify the company’s ongoing investments in science related to its existing and future products. This includes research and development activities for therapeutic applications.
Greenlane Holdings, Inc. (NASDAQ: GNLN), one of the world’s largest suppliers of premium cannabis accessories, child-resistant packaging and specialty products for vaporizing announced The launch of the VIBES ™ Organic Hemp Rolling Papers and Cones Collection on March 17th. VIBES Fine Rolling Papers is a joint venture between Greenlane and Berner – influential rapper, serial entrepreneur and founder of Cookies.
HEXO Corp. (NYSE: HEXO) reported The financial results for the second quarter of fiscal year 2021 on March 18th. Total net revenue increased 94% year over year to $ 32.8 million and revenue increased 12% over the first quarter of fiscal 2021.
Innovative Industrial Properties, Inc. (NYSE: IIPR), the first and only real estate company on the New York Stock Exchange (NYSE) focused on the US regulated cannabis industry, explained on March 15, a dividend of $ 1.32 per common share for the first quarter of 2021. The dividend is an annualized dividend of $ 5.28 per common share. It’s the 10th dividend increase since IIPR closed its IPO in December 2016.
Intec Pharma Ltd. (NASDAQ: NTEC) announced on March 16 for filing its 2020 Annual Report on Form 10-K with the Securities and Exchange Commission. A copy of the Annual Report is available on the Intec Pharma website at www.intecpharma.com by selecting Investors, then Financial Data and SEC Filings.
Sundial Growers Inc. (NASDAQ: SNDL) reported Full year and fourth quarter financial and operating results were released on March 17th. Sundial Growers announced the completion of its financial reorganization, eliminating the total face value of $ 227 million in 2020. Gross sales increased 10% year over year to $ 73.3 million in 2020.
Village Farms International, Inc. (NASDAQ: VFF) announced The financial results for the three months and year ended at the end of 2020 on March 16. Village Farms International achieved sequential quarterly growth of 28% and retail sales of retail brands to provincial distributors growth of 248% year over year to $ 15.5 million quarterly growth of 40% from Q2 to Q3 2020.