Cannabis stocks fall after Attorney General offers muted support for States Act


2019-04-12 00:39:00 MarketWatch


By Cannabis stocks were mostly lower Thursday, a day after the top law enforcement official in the U.S. offered muted support for a bill that would protect companies in states that have legalized weed. Attorney General William Barr told a Senate committee that he would rather have the approach taken by a cannabis reform bill than the current state of affairs, as MarketWatch’s Victor Reklaitis reported. Barr said the Strengthening the Tenth Amendment Through Entrusting States Act, or States Act, a bipartisan bill introduced last week, is currently being circulated in the Justice Department for comment and as soon as DOJ officials have gathered those, they can work with lawmakers. “Personally, I would still favor one uniform federal rule against marijuana but, if there is not sufficient consensus to obtain that, then I think the way to go is to permit a more federal approach so states can make their own decisions within the framework of the federal law and so we’re not just ignoring the enforcement of federal law,” he said. Statistics Canada said an analysis of crowdsourced price data from Canadian cannabis consumers found that legal prices have been higher since legalization last October than black market prices. The average price per gram of legally purchased cannabis stands at $9.99, compared with an average $6.37 from illegal sources. “Prior to legalization, the average price for illegally purchased dried cannabis was $6.79 per gram,” said the agency. “The purchase price from legal sources was, on average, 56.8% higher than the purchase price from illegal sources, according to the crowdsourcing data. See: Cannabis stocks mixed with KushCo the latest company to uncover accounting errors From Marijuana Business Daily and Viridian Capital Advisors comes the news that last week was the busiest for mergers and acquisition activity among publicly traded companies with 11 deals closing. Also: Unilever’s Schmidt’s Naturals to launch hemp-oil deodorants in September Seven involved companies that touch the plant, while the remaining were in adjacent businesses and services. Another three deals by privately owned companies brought the weekly total to 14, marking the second-busiest of the year so far. L.A.-based Vertical Companies closed a $58 million Series A funding round that will help it expand its footprint and brands. Vertical President Smoke Wallin told MarketWatch the money came from family offices and high net worth individuals, as institutional investors remain leery of the sector, because of the federal ban. “We’re in it for the long game,” he told MarketWatch in an interview, in which he outlined plans to create winning brands, and launch hemp and CBD product lines as soon as the regulations are clearer. Read also: They’re over 60, selling marijuana — and say it’s ‘pretty damn cool’ Green Thumb Industries Inc.’s fiscal fourth-quarter earnings showed a strong operating performance and guidance for the first quarter was upbeat, according to Benchmark analyst Mike Hickey, who rates the stock GTBIF, -4.83%  a buy. Hickey raised this price target to $17 from $16, equal to 21% above its current trading level. The stock was down 5% in line with the broader sector. Aleafia Health Inc. ALEF, +1.17% ALEF, +1.17%  said it has increased its investment in CannaPacific Pty. Ltd, an Australian medical cannabis company that is licensed to grow and research the substance. Aleafia invested another AU$540,000 ($385,500) in the company. CannaPacific has closed its acquisition of a 108,000 square feet greenhouse in the Byron Bay region of New South Wales. Aleafia shares were down 3.9%. Elsewhere in the sector, Canopy Growth Corp. CGC, -4.31% WEED, -3.72%  was down 4.6%, Aurora Cannabis Inc. ACB, -2.64% ACB, -2.55%  was down 2.9% and Cronos Group Inc. CRON, -5.94% CRON, -4.93%  was down 4.6%. Tilray Inc. TLRY, -4.70%  was down 4/3%, OrganiGram Holdings Inc. OGRMF, -3.04% was down 3.0%, MedMen Enterprises Inc. was down 2.0% and Cresco Labs CRLBF, -3.96%  was down 4.3%. Hexo Corp. was down 1.9% and Green Organic Dutchman Holdings Ltd. was down 5.2%. Read: Tilray stock rises after the company shows it can sell recreational pot Also: Cannabis stocks climb after Tilray’s earnings, as New Jersey moves closer to legal weed The Horizons Marijuana Life Sciences ETF HMMJ, -2.62% was down 2.5%, and the ETFMG Alternative Harvest ETF MJ, -2.29% was down 2.3%. The Dow Jones Industrial Average DJIA, -0.16%  was down 0.2% and the S&P 500 index SPX, -0.03%  was down 0.1%. See also: In California’s Weed Country, wildfires burn both cash and crops Cannabis Watch: All of MarketWatch’s coverage of cannabis companies Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
由。 大麻类股周四大多走低,一天前,美国最高执法官员对一项保护大麻合法化州公司的法案表示了低调的支持。 总检察长威廉•巴尔( William Barr )告诉参议院一个委员会,他宁愿让大麻改革法案采取的方法,也不愿像市场观察( MarketWatch )的维克多•莱科莱蒂斯( Victor Reklaitis )报道的那样,让当前的事态发展下去。 巴尔说,加强第十修正案通过委托国家法案,或国家法案,两党上周提出的法案,目前正在传阅司法部的评论,一旦司法部官员收集了这些,他们可以与立法者合作。 “就我个人而言,我仍然赞成一项反对大麻的统一联邦规则,但如果没有足够的共识来达成这一点,那么我认为,走的道路是允许更多的联邦方法,这样各州就可以在联邦法律框架内做出自己的决定,因此我们不仅仅是忽视联邦法律的执行,”他说。 加拿大统计局表示,对加拿大大麻消费者众包价格数据的分析发现,自去年10月合法化以来,合法价格一直高于黑市价格。合法购买的大麻每克的平均价格为9.99美元,而非法来源的平均价格为6.37美元。 “在合法化之前,非法购买的大麻的平均价格是每克6.79美元,”该机构表示。“根据众包数据,来自合法渠道的采购价格平均比来自非法渠道的采购价格高56.8%。 参见: Cannabis 股票与 KushCo 混合,后者是发现会计差错的最新公司 来自《大麻商业日报》( Marijuana Business Daily )和 Viridian Capital Advisors 的消息传出后,上周是上市公司并购活动最繁忙的一周,有11宗交易完成。 此外,联合利华的施密特自然也将于9月推出大麻精油除臭剂 七家涉及工厂的公司,其余的则在邻近的企业和服务。私人公司的另外三笔交易使每周总成交量达到14笔,这是今年迄今第二大交易。 总部位于洛杉矶的垂直公司( VerticCompanies )结束了一轮5800万美元的 A 轮融资,这将有助于其扩大足迹和品牌。垂直型总统沃林告诉市场观察,资金来自家庭办公室和高净值个人,因为机构投资者仍然对该行业持谨慎态度,因为联邦禁令。 他在接受《市场观察》( MarketWatch )采访时表示:“我们正处于长期竞争之中。”在采访中,他概述了创建成功品牌的计划,并在监管更加清晰的情况下尽快推出大麻和 CBD 产品系列。 另外,阅读一下:他们超过60岁,卖大麻——说这很酷。 对该公司股票进行评级的 Benchmark 分析师迈克·希基( Mike Hickey )说,绿拇指实业公司( Green Thumb Industries Inc .)第四财政季度的盈利显示出强劲的经营业绩,第一季度的业绩预期是乐观的 GTBIF ,-4.83% 买东西。 Hickey 将这一价格目标从16美元上调至17美元,较目前的交易水平高出21%。该股下跌5%,与大盘一致。 Aleafia Health Inc 。 ALEF ,+1.17% ALEF ,+1.17% 表示已经增加了对 CannaPacific Pty 的投资。是一家澳大利亚医用大麻公司,该公司被授权种植和研究这种物质。Aleafa 还向该公司投资540000澳元(385500美元)。在新南威尔士州的拜伦湾地区, CannaPacific 已经完成了108,000平方英尺温室的收购。Aleafia 股价下跌3.9%。 在该行业的其他领域, Canopy Growth Corp 。 CGC ,-4.31% WEED ,-3.72% 下降了4.6%,奥罗拉(Aurora) Cannabis Inc 。 ACB ,-2.64% ACB ,-2.55% 下跌2.9%, Cronos Group Inc 。 CRON ,-5.94% CRON ,-4.93% 下跌了4.6%。 Tilray Inc 。 TLRY ,-4.70% 下降了4/3%, OrganiGram 控股公司。 OGRMF ,-3.04% 下跌3.0%, MedMen Enterprises Inc .下跌2.0%, Cresco Labs 下跌 CRLBF ,-3.96% 下跌了4.3%。Hexo Corp .下跌1.9%, Green Organic Dutchman Holdings Ltd .下跌5.2%。 阅读: Tilray 股价上涨后,该公司显示,它可以出售休闲壶 此外,随着新泽西州接近法律规定的“野草”, Tilray 的收益之后,坎纳比斯的股价也在攀升 Horizons Marijuana Life Sciences ETF HMMJ ,-2.62% 下跌2.5%, ETFMG 另类收获 ETF 下跌 MJ ,-2.29% 下跌了2.3%。 道琼斯工业平均指数 DJIA ,-0.16% 标普500指数下跌0.2 SPX ,-0.03% 下跌了0.1%。 另见:在加州的 Weed Country ,野火燃烧现金和农作物 大麻观察: MarketWatch 对大麻公司的所有报道 Ciara Linnane 是 MarketWatch 的投资和企业新闻编辑。她在纽约。