Rising High: Exclusive talk with Canadian licensed producer Lotus Ventures » 11:3806/2406/24/21
LTTSF, CBWTF, ACB, CVSI, CGC, CRON, CANN, IGC, TLRY, TCNNF, ZYNE, GDNSF
In this edition of…
Tilray call volume above normal and directionally bullish » 10:4506/2406/24/21
Bullish option flow…
Bullish option flow detected in Tilray with 74,699 calls trading, 1.2x expected, and implied vol increasing over 2 points to 91.63%. 6/25 weekly 18.5 calls and 6/25 weekly 20 calls are the most active options, with total volume in those strikes near 20,100 contracts. The Put/Call Ratio is 0.13. Earnings are expected on August 9th.
Tilray price target lowered to $18 from $32 at Alliance Global Partners » 08:1106/2306/23/21
Alliance Global Partners…
Alliance Global Partners analyst Aaron Grey lowered the firm's price target on Tilray to $18 from $32 and keeps a Neutral rating on the shares. The analyst sees the combination with Aphria as beneficial "with each company offering complementary strengths," but he believes Tilray is fairly valued at current share price levels. Grey cites valuation and uncertainty of near-term market share gains in Canada for the Neutral rating.
NIH says cannabis may be associated with suicidality in young adults » 11:2906/2206/22/21
ACB, CGC, IGC, CANN, ZYNE, CRON, TLRY, CVSI, CTST, TCNNF
An analysis of survey…
An analysis of survey data from more than 280,000 young adults ages 18-35 showed that cannabis use was associated with increased risks of thoughts of suicide, suicide plan, and suicide attempt. These associations remained regardless of whether someone was also experiencing depression, and the risks were greater for women than for men. For their analysis, NIDA researchers examined data from the 2008-2019 National Surveys on Drug Use and Health. NSDUH, which is conducted annually by the Substance Abuse and Mental Health Services Administration, collects nationally representative data among the U.S. civilian, noninstitutionalized population age 12 or older on cannabis use and use disorder, depression, suicidality, and other behavioral health indicators. In addition to determining the associations between these factors, the researchers examined whether the associations varied by gender. They examined data from 281,650 young adults ages 18 to 35 years - the age range when most substance use and mood disorders emerge-with an almost even number of women and men. The researchers compared four levels of past-year cannabis use: no cannabis use; nondaily cannabis use; daily cannabis use, which was defined as use on at least 300 days per year; and presence of cannabis use disorder, which was assessed in the survey and involves meeting specific criteria for a pattern of continued cannabis use despite negative consequences. To determine the presence of depression, they assessed the prevalence of major depressive episodes based on specific diagnostic criteria measured through the survey. To identify suicidality trends, the investigators separately assessed the trends in the prevalence of past-year suicidal ideation, plan, and attempt as reported in the 2008-2019 NSDUH surveys. The results of the study indicated that even people who used cannabis nondaily, fewer than 300 days a year, were more likely to have suicidal ideation and to plan or attempt suicide than those who did not use the drug at all. These associations remained regardless of whether someone was also experiencing depression. Among people without a major depressive episode, about 3% of those who did not use cannabis had suicidal ideation, compared with about 7% of those with nondaily cannabis use, about 9% of those with daily cannabis use, and 14% of those with a cannabis use disorder. Among people with depression, 35% of people who did not use cannabis had suicidal ideation, compared to 44% of those with nondaily cannabis use, 53% of those who used cannabis daily, and 50% of those who had a cannabis use disorder. Similar trends existed for the associations between different levels of cannabis use and suicide plan or attempt. Moreover, the researchers found that women who used cannabis at any level were more likely to have suicidal ideation or report a suicide plan or attempt than men with the same levels of cannabis use. For example, among individuals without major depressive episode, the prevalence of suicidal ideation for those with vs. without a cannabis use disorder was 13.9% vs. 3.5% among women and 9.9% vs. 3.0% among men. Among individuals with both cannabis use disorder and major depressive episode, the prevalence of past-year suicide plan was 52% higher for women than men. Publicly traded companies in the space include Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CTST), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC), Tilray (TLRY), Trulieve Cannabis (TCNNF) and Zynerba (ZYNE).
|Over a week ago|
Connecticut Governor 'looks forward' to signing adult-use cannabis bill » 12:3206/1706/17/21
ACB, CGC, IGC, CANN, ZYNE, CRON, TLRY, CVSI, CNTTF, TCNNF
Governor Ned Lamont…
Governor Ned Lamont released a statement regarding final approval in the Connecticut General Assembly of legislation legalizing adult-use cannabis in Connecticut, in which he stated in part: "It's fitting that the bill legalizing the adult use of cannabis and addressing the injustices caused by the war of drugs received final passage today, on the 50-year anniversary of President Nixon declaring the war... The states surrounding us already, or soon will, have legal adult-use markets. By allowing adults to possess cannabis, regulating its sale and content, training police officers in the latest techniques of detecting and preventing impaired driving, and expunging the criminal records of people with certain cannabis crimes, we're not only effectively modernizing our laws and addressing inequities, we're keeping Connecticut economically competitive with our neighboring states. Connecticut residents will benefit from the portion of cannabis revenues that will be dedicated to prevention and recovery services. This measure is comprehensive, protects our children and the most vulnerable in our communities, and will be viewed as a national model for regulating the adult-use cannabis marketplace. I look forward to signing the bill and moving beyond this terrible period of incarceration and injustice." Publicly traded companies in the cannabis space include Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC), Tilray (TLRY), Trulieve Cannabis (TCNNF) and Zynerba (ZYNE).
Rising High: Analyst more cautious on Tilray despite legalization bill » 12:0806/1706/17/21
CGC, SPRWF, TCNNF, IGC, CANN, CVSI, CTST, ACB, KERN, ZYNE, CRON, CLVR, HEXO, TLRY
In this week's "Rising…
Fly Intel: Top five analyst downgrades » 09:5406/1106/11/21
VRTX, TLRY, LOGI, OCGN, QUMU
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Vertex Pharmaceuticals (VRTX) downgraded to Neutral from Outperform at Daiwa with analyst Narumi Nakagiri citing the announcement that VX-864 will not advance into late-stage development. 2. Tilray (TLRY) downgraded to Neutral from Outperformer at CIBC with analyst John Zamparo saying the upcoming release of Senator Schumer's cannabis federal legalization bill will likely create a positive catalyst, but "it's uncertain to lead to meaningful change this year." 3. Logitech (LOGI) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Katy Huberty saying the stock has risen over 250% since the start of the pandemic, even as its earnings revisions moderate and proxies suggest softer demand. 4. Ocugen (OCGN) downgraded to Neutral from Buy at Roth Capital with analyst Zegbeh Jallah saying he wrongly expected the FDA to review the EUA application, so the news is "disappointing." 5. Qumu (QUMU) downgraded to Hold from Buy at Craig-Hallum with analyst Jeff Van Rhee believing the new "volume and velocity" sales motion is missing the mark and that bookings are lagging the levels needed to achieve the firm's prior estimates of 9% growth in 2021. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Tilray downgraded to Neutral after 33% rally at CIBC » 06:3906/1106/11/21
CIBC analyst John Zamparo…
CIBC analyst John Zamparo last night downgraded Tilray to Neutral from Outperformer with an unchanged price target of $25. The upcoming release of Senator Schumer's cannabis federal legalization bill will likely create a positive catalyst, but "it's uncertain to lead to meaningful change this year," Zamparo tells investors in a research note. Tilray shares are up 33% since the Aphria merger, and the valuation "leaves little upside from here," says the analyst.
Tilray downgraded to Neutral from Outperformer at CIBC » 18:2606/1006/10/21
CIBC analyst John Zamparo…
CIBC analyst John Zamparo downgraded Tilray to Neutral from Outperformer with a $25 price target.
Rising High: An exclusive talk with medical cannabis operator Redbird » 11:5806/1006/10/21
ACB, CVSI, CTST, CGC, CRON, CANN, IGC, TLRY, TCNNF, ZYNE
In this edition of…