Connect with us

Heartland

Why Pot Stocks Aphria, Canopy Growth, GrowGeneration, and Village Farms Jumped Today

Republished by Plato

Published

on


What happened

Several pot stocks were jumping as of 3:23 p.m. EST on Monday. Village Farms International (NASDAQ:VFF) was the biggest mover, with its shares soaring 16.8%. GrowGeneration (NASDAQ:GRWG) and Canopy Growth (NASDAQ:CGC) were up 5.9% and 4.2%, respectively. Aphria (NASDAQ:APHA) wasn’t far behind, with the stock rising 4.1%.

Often when multiple stocks in the same industry deliver solid gains, there’s a common catalyst. In this case, though, each of these four marijuana stocks moved higher for different reasons.

White line with arrow trending upward with cannabis and money in the background

Image source: Getty Images.

Village Farms announced a couple of positive developments on Monday. The company’s Pure Sunfarms joint venture received a license from Health Canada to conduct sensory evaluation testing for cannabis products, including measuring the taste, sight, smell, and touch of the products. Pure Sunfarms also is launching CBD products in Hong Kong for the holiday season.

Canopy Growth announced the completion of a pre-clinical study evaluating the long-term effects of CBD, using Caenorhabditis elegans worms as the subjects. The results from the study were published in the Cannabis and Cannabinoid Research journal.

Neither GrowGeneration nor Aphria had any new developments today. GrowGeneration appears to be enjoying continued momentum from the Election Day results with five states voting to legalize marijuana in some form. Investors also seem to think that Aphria’s prospects are better with its acquisition of U.S.-based SweetWater Brewing announced earlier this month.

So what

None of these latest developments are exactly earth-shattering. It remains to be seen just how much of a financial impact the Health Canada sensory evaluation testing license or the CBD product launch in Hong Kong will have for Village Farms. Canopy’s pre-clinical CBD study results don’t really move the needle much for the company.

There’s a pretty good argument to be made that the two stocks with the smaller gains today offer more for investors to get excited about. Aphria’s acquisition of SweetWater Brewing could give it a solid launching pad in the U.S. market. The deal could really pay off if federal marijuana laws are changed at some point to clear the way for Aphria to jump into the U.S. cannabis market.

GrowGeneration, though, probably has the greatest growth potential of the group. The legalization of recreational marijuana in Arizona and New Jersey could give the hydroponics and organic gardening retailer big markets in which to further expand.

Now what

What really matters is how each of these companies performs in its next quarterly update. The Canadian companies have the biggest challenges but are moving in the right direction. GrowGeneration enjoys the strongest momentum with its sales and profits skyrocketing.

Source: https://www.google.com/url?rct=j&sa=t&url=https://www.fool.com/investing/2020/11/23/why-pot-stocks-aphria-canopy-growth-growgeneration/&ct=ga&cd=CAIyGjQ2MzM1ZTBkNWQyZmIyYzc6Y29tOmVuOlVT&usg=AFQjCNEfb0PQXjXIt63oq5UMSYWlPIEEXg

Heartland

That Demands To Check Out BioGold CBD Gummies?

Republished by Plato

Published

on

BioGold CBD Gummies is a incredible cannabidiol oil that is formulated with the extracts of the marijuana plant life. it's far synthetic under the … Invest w Mintos
Source:

Continue Reading

Heartland

Republished by Plato

Published

on

Coinsmart. Beste Bitcoin-Börse in Europa
Source:

Continue Reading

Heartland

Republished by Plato

Published

on

Coinsmart. Beste Bitcoin-Börse in Europa
Source:

Continue Reading
Uncategorized3 days ago

Halo Collective Announces New Appointment to Board of Directors and Completes Securities Issuance to Independent Consultants, Related Parties, and Suppliers

Metal3 days ago

Registration open for IHEA annual meeting

Heartland23 hours ago

Real Brands Inc. CEO Discusses Corporate Goals and Resolve in Audio Interview with …

Heartland5 days ago

CBD Shopping Guide 2021

Heartland5 days ago

Heartland5 days ago

Heartland5 days ago

Heartland5 days ago

Heartland5 days ago

Day two on CBD.

Heartland5 days ago

Heartland5 days ago

Heartland5 days ago

Hemp Seed Peptide Market Intelligence Study for Comprehensive Insights

Heartland5 days ago

Heartland5 days ago

Heartland5 days ago

RAB arrests drug dealers, recovers yaba, hemp

Heartland5 days ago

Heartland5 days ago

Day two on CBD.

Heartland5 days ago

Heartland3 days ago

Asia Pacific IoT command centre to be established in Adelaide

Heartland13 hours ago

First time with WNC or any Indoor CBD in general.

Heartland3 days ago

does cbd help with dizziness?

Heartland1 day ago

I just bought this brand that I have never seen before. Has anyone ever heard of it?

Heartland20 hours ago

Harvard Study Finds Cannabis Effective for Chronic Pain

Heartland12 hours ago

Any sales for goin on ?

Heartland5 days ago

CBD is amazing! Helped me finally stop smoking

Heartland2 days ago

Are Delta-8 THC Syringes the Most Practical Way to Medicate?

Heartland4 days ago

Heartland5 days ago

CBD Product Market Size Analysis, Growth Rate and Opportunities by 2021-2026

Heartland5 days ago

Will CBD oil 10% stimulate hunger?

Heartland4 days ago

Trending

A Cloud Nine Capital Entity Copyright © 2020 – All Rights Reserved Proudly Made in America