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Chicago, IL – June 25, 2020 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: (https://www.zacks.com/stock/news/991803/is-this-a-buying-opportunity-in-the-marijuana-stocks)
Is This a Buying Opportunity in the Marijuana Stocks?
Welcome to Episode #230 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.
This week, Tracey’s joined by Stock Strategist David Borun, the editor of Zacks Marijuana Innovators portfolio, to discuss what is going on with the cannabis industry.
Did the coronavirus pandemic help, or hurt, the cannabis industry?
In many states, cannabis was considered an essential business so most dispensaries remained open. But that doesn’t mean there weren’t disruptions to some of the businesses.
Is it Time to Buy Cannabis Stocks?
Many of the stocks plunged when the stock market plunged in February and March on coronavirus fears.
Has that created a buying opportunity in some of the shares?
Growers and Pharmaceuticals
Many investors have focused on the Canadian cannabis growers the last few years. But the pandemic has caused a shake-up among the companies with several doing layoffs and cutting expenses.
Some intriguing places to look for deals are in pharmaceuticals.
1. Canopy Growth (CGC - Free Report) shares have fallen 46% over the last 2 years and are still down 16% year-to-date. It’s making beverages and chocolates. Is it time to buy?
2. Aurora Cannabis (ACB - Free Report) recently announced more layoffs and is closing operations at 5 smaller facilities. It’s also taking a $140 inventory charge. Shares are down 45% year-to-date. Is the worst priced in?
3. Hexo Corp. is a Canadian grower trading under $1. Many investors love that but that increases the risk. It has a $314 million market cap, however, and is a play on beverages due to a joint venture with Molson Coors.
4. GW Pharmaceuticals has the first FDA approved cannabis drug which is approved for some rare forms of epilepsy. Sales are expected to rise 82% this year and the company is forecast to see positive earnings as soon as 2021. Shares are up 19% year-to-date. Is it too late to get in?
5. Zynerba Pharmaceuticals is a micro-cap biotech that has no revenue but has cannabinoid therapeutics addressing autism disorders. Shares are up just 3% year-to-date. Is this a buying opportunity?
What else should you know about the marijuana stocks in 2020?
Listen to this week’s podcast to find out.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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Zacks Market Edge Highlights: Canopy Growth, Aurora Cannabis, Hexo, GW Pharmaceuticals and Zynerba
For Immediate Release
Chicago, IL – June 25, 2020 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: (https://www.zacks.com/stock/news/991803/is-this-a-buying-opportunity-in-the-marijuana-stocks)
Is This a Buying Opportunity in the Marijuana Stocks?
Welcome to Episode #230 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.
This week, Tracey’s joined by Stock Strategist David Borun, the editor of Zacks Marijuana Innovators portfolio, to discuss what is going on with the cannabis industry.
Did the coronavirus pandemic help, or hurt, the cannabis industry?
In many states, cannabis was considered an essential business so most dispensaries remained open. But that doesn’t mean there weren’t disruptions to some of the businesses.
Is it Time to Buy Cannabis Stocks?
Many of the stocks plunged when the stock market plunged in February and March on coronavirus fears.
Has that created a buying opportunity in some of the shares?
Growers and Pharmaceuticals
Many investors have focused on the Canadian cannabis growers the last few years. But the pandemic has caused a shake-up among the companies with several doing layoffs and cutting expenses.
Some intriguing places to look for deals are in pharmaceuticals.
1. Canopy Growth (CGC - Free Report) shares have fallen 46% over the last 2 years and are still down 16% year-to-date. It’s making beverages and chocolates. Is it time to buy?
2. Aurora Cannabis (ACB - Free Report) recently announced more layoffs and is closing operations at 5 smaller facilities. It’s also taking a $140 inventory charge. Shares are down 45% year-to-date. Is the worst priced in?
3. Hexo Corp. is a Canadian grower trading under $1. Many investors love that but that increases the risk. It has a $314 million market cap, however, and is a play on beverages due to a joint venture with Molson Coors.
4. GW Pharmaceuticals has the first FDA approved cannabis drug which is approved for some rare forms of epilepsy. Sales are expected to rise 82% this year and the company is forecast to see positive earnings as soon as 2021. Shares are up 19% year-to-date. Is it too late to get in?
5. Zynerba Pharmaceuticals is a micro-cap biotech that has no revenue but has cannabinoid therapeutics addressing autism disorders. Shares are up just 3% year-to-date. Is this a buying opportunity?
What else should you know about the marijuana stocks in 2020?
Listen to this week’s podcast to find out.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.