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Questor share tip: the firm’s powerful cash flow and attractive valuation make it one to keep, even with talk of new regulation in America
Cannabis stocks traded mostly in the green this week, as we got into earnings season. “While there were a lot of companies reporting earnings, like Turning Point Brands who gave guidance of $422 million for 2021, I thought the biggest piece of data came from Pennsylvania , ” Debra Borchardt, editor-in-chief of Green Market Report, told Benzinga. “The state reported that in one year it had sold over $900 million in medical marijuana. This demonstrates the demand for cannabis in this state and bodes well for any future adult-use legalization. This is also a big number when one considers that the program has only just gotten underway.” And, while Pennsylvania sales surpassed $900 million in one year, Maryland sales finally hit $1 billion, more than three years after the medical cannabis program launched in December of 2017. Meanwhile, the Swiss-American multinational Philip Morris International Inc. (NYSE: PM ), maker of Marlboro cigarettes, said it's considering getting into the cannabis industry.
Shares of Altria, British American Tobacco and Imperial Brands fell after the FDA said it would move to ban menthol and other flavored cigarettes.
Video: Cannabis Investing, Stock Picks With C3 Fund's Josh Kincaid, Vice Ventures' Catharine Dockery19 Apr, 18:50, Benzinga • Développer
With cannabis legalization poised to happen on a federal level sooner than later and continued growth of the cannabis industry, marijuana stocks are making an impact within the sin-stock market. In the first three months of 2021, Illinois cannabis taxes exceeded liquor taxes for the first time, hitting $86,537,000 million. March cannabis sales amounted to $109,149,355, representing a month-over-month jump of more than $28 million. Other sin-stock peers also recognized the opportunity within the cannabis sector. Tobacco giant British American Tobacco PLC (NYSE: BTI ) recently invested CA$221 million ($175.7 million) in OrganiGram Holdings Inc (NASDAQ: OGI ), acquiring a 19.9% equity interest in the cannabis company. Apart from money, tobacco companies like BAT are bringing the knowledge and experience of being a part of the sin-stock market to the cannabis space. "What we've learned from alcohol and tobacco is that distribution channels are more important than anything," said Josh Kincaid, portfolio risk analyst at C3 Fund.
London's FTSE 100 fell on Friday, dragged lower by heavyweight British American Tobacco and banking stocks, although the blue-chip index was set for its best weekly performance since early-January on optimism about a recovery in the UK economy.
BARCLAYS: Buy these 30 'cheapened' stocks with high incomes that can beat macro headwinds or rising rates27 Mar, 09:00, Business Insider • Développer
Summary List Placement After a tough year, dividend investing is coming back in vogue, as investors look to their stock positions for income, especially right now, as interest rates are so low and returns can often be small. During the coronavirus pandemic, many companies were forced to cut their payouts to shareholders, especially those that are typically higher yielding - like banks - which crippled the value of their shares. But, with economic recovery on the cards and fixed-income assets like government bonds looking less attractive, some of those beaten-down stocks with high dividends - nicknamed "yield stocks" - are well placed to benefit. "We currently OW [overweight] yield as its valuation and high yield look attractive, even if we don't expect it to be a key beneficiary of growth rebound in 2H," Barclays strategists, including Emmanuel Cau, wrote in a note published on Wednesday. "Its cheapness stems somewhat from the market looking expensive rather than yield looking particularly cheap, which could reverse as the market normalizes in the coming 6-12 months," they added.
The FTSE 100 index recouped its early losses and ended 0.3% higher, with dollar-earning consumer staples stocks, including Unilever, Reckitt Benckiser Group, British American Tobacco and Diageo Plc gaining between 0.3% and 2,5%, on the weaker pound. Healthcare stocks were also among the biggest gainers, with AstraZeneca up 3.3% after the drugmaker's COVID-19 vaccine was found 79% effective in a large U.S. trial at preventing symptomatic illness, and was 100% effective against severe or critical disease and hospitalisation.
The blue-chip FTSE 100 index rose 0.4%, with healthcare, financials and consumer staples stocks among the top boost. A softer pound lifted shares of large, dollar-earning companies such as AstraZeneca Plc and British American Tobacco.
This was a week of big news for the cannabis industry. Curaleaf Holdings Inc. (OTCQX: CURLF ) agreed to acquire one of Europe’s largest cannabis companies, EMMAC Life Sciences , for approximately $286 million in cash and stock. The transaction, which is expected to close during the second quarter of 2021, makes Curaleaf one of the first U.S. multi-state operators to expand in Europe. Silver Spike Acquisition Corp II (NASDAQ: SPKBU ) made its debut on the Nasdaq Capital Market, disclosing the pricing of its initial public offering of some 25 million of its units at $10 per unit. In addition, tobacco giant British American Tobacco PLC (NYSE: BTI ) opted to invest CA$221 million ($175.7 million) in OrganiGram Holdings Inc (NASDAQ: OGI ). It now owns a 19.9% equity interest in an OrganiGram subsidiary. The goal is to establish a "Center of Excellence" dedicated to the development of cannabis products, with a focus on CBD. “The most meaningful news this week was the $175 million investment into Organigram by British American Tobacco.
Insider Cannabis: A psychedelic research renaissance — layoffs at Acreage — Curaleaf's European ambitions↳ 17:48, Business Insider • Développer
Summary List Placement Welcome to Insider Cannabis, our weekly newsletter where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global cannabis boom. Sign up here to get it in your inbox every week . Happy Friday everyone, There were lots of major, market-moving deals in the industry this week — and with Mexico becoming the fourth country (and the one with by far the largest population) to legalize cannabis, there's lots of room to be optimistic about the future. British American Tobacco agreed to pour $175 million into a 20% stake of Canadian cannabis producer Organigram, a portend of future tobacco and cannabis tie-ups, according to analysts. I spoke with Organigram's CEO, Greg Engel, about the deal yesterday. He told me that while the focus is on US CBD — that's so far the largest legal addressable market – he said "the majority of the work we do is transferrable to THC." "We're tackling the big near-term market opportunity first, and then we'll be able to pivot," Engel told me.
OrganiGram Holdings Inc’s (NASDAQ: OGI ) stock is likely to re-rate following the investment by a subsidiary of British American Tobacco PLC (NYSE: BTI ), according to Cantor Fitzgerald. The OrganiGram Analyst: Pablo Zuanic maintained an Overweight rating for OrganiGram Holdings, while raising the price target from C$3.50 to C$6. The OrganiGram Thesis: The latest deal for a 19.9% stake in OrganiGram makes British American Tobacco the third tobacco company to invest in cannabis, Zuanic said in the note. “We think … Full story available on Benzinga.com
Organigram price target doubled by Raymond James on 'shiny new partnership' with British American Tobacco↳ 13:03, MarketWatch • Développer
Raymond James raised its stock price target on Canadian cannabis company Organigram Inc. undefined to C$6 ($4.78) from C$3 on Friday, after the company…
British American Tobacco has purchased a 20 per cent stake in Moncton-based Organigram, and the deal is intended to result in the creation of a cannabis centre of excellence in Moncton.
Organigram und BAT vereinbaren Zusammenarbeit bei der Produktentwicklung – Vereinbarung beinhaltet strategische Investition von BAT in Höhe einer Beteiligung von 19,9 %↳ 20:59, Business Wire • Développer
MONCTON, New Brunswick--(BUSINESS WIRE)--Organigram Holdings Inc. („OGI“, TSX: OGI bzw. NASDAQ: OGI) gibt eine strategische Investition in Höhe von 221 Millionen kanadischen Dollar (CAD) durch eine hundertprozentige Tochtergesellschaft von BAT (LSE: BATS bzw. NYSE: BTI) bekannt. Die BAT-Tochtergesellschaft hat ca. 58,3 Millionen Stammaktien von OGI gezeichnet, was einer 19,9-prozentigen Beteiligung1 auf Post-Transaktionsbasis für einen Gesamterlös von ca. 221 Millionen CAD („Beteiligungserlös“)
Organigram shares soar after global giant British American Tobacco takes 20-per-cent ownership stake↳ 16:58, The Globe and Mail • Développer
The British tobacco giant’s all-stock investment will see it purchase 58.3 million shares of the cannabis company at $3.79 a share
Big tobacco makes further forays into cannabis industry with stake close to 20% in US-listed company British American Tobacco is to buy close to a 20% stake in Canada-based cannabis producer OrganiGram for about £126m as BAT diversifies beyond its main tobacco business. OrganiGram grows cannabis and makes cannabis-derived products in Canada where non-medical use of the drug was legalised in 2018. Continue reading…
Le cigarettier britannique British American Tobacco (BAT), connu pour Lucky Strike et Dunhill, a annoncé jeudi se lancer sur le marché du cannabis avec un investissement au …
Summary List Placement Organigram stock spiked as much as 47% on Thursday after British American Tobacco invested in the cannabis producer. BAT will invest $176 million in Organigram for a 19.9% equity stake in the Canadian-based firm. Both companies have entered into a collaboration agreement in which they will develop next generation CBD products. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Shares of Organigram soared as much as 47% on Thursday after British American Tobacco invested $176 million into the Canada-based cannabis producer for a 19.9% equity stake in the firm. The strategic investment will accelerate Organigram's research and development and product pipeline development, with both companies entering into a product collaboration agreement. The two firms' first collaborative product venture will be in the CBD space. Both companies will contribute scientists, researchers, and product developers to the collaborative product initiative. The cash infusion into Organigram will also strengthen its balance sheet and put the company in a better position to compete in US markets. "[The deal] is instrumental in advancing our commitment to offering consumers innovative cannabis products and to furthering our long-term international strategy, " CEO Greg Engel said in a press release.
British American Tobacco says it is not surprised that government has been granted leave to appeal a court ruling that the lockdown ban on tobacco sales was not necessary.
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