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CRON

Cronos Group

$8.22 /

-0.35 (-4.08%)

, ACB

Aurora Cannabis

$3.94 /

-0.17 (-4.14%)

11:10
10/10/19
10/10
11:10
10/10/19
11:10

Hexo miss further damages cannabis industry credibility, says Stifel

Hexo (HEXO) this morning provided a preliminary update for its fiscal Q4 with revenue coming in below the consensus estimate and well below the "double" offered by management mid-quarter during the Q3 earnings call, Stifel analyst Andrew Carter tells investors in a research note. The preannouncement is "another headline damaging" the cannabis industry's credibility, Carter tells investors in a research note. For companies facing "significant financing risk," the analyst believes a "real segregation of assets will occur." Some companies will face significant dilution due to onerous financing terms while others will simply be unable to access capital, predicts the analyst. Carter thinks the macro environment will continue to be difficult and that the capital positions of Canopy Growth (CGC) and Cronos Group (CRON) are "clear competitive advantages." Those two have the ability to continue executing their business plans while capitalizing on the sector weakness, which "will only intensify from here," says Carter. Other names in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), General Cannabis (CANN), India Globalization Capital (IGC), Tilray (TLRY) and Zynerba (ZYNE). Shares of Hexo are down 24%, or 90c, to $2.78 in early trading.

CRON

Cronos Group

$8.22 /

-0.35 (-4.08%)

ACB

Aurora Cannabis

$3.94 /

-0.17 (-4.14%)

CGC

Canopy Growth

$21.30 /

-1.49 (-6.54%)

IGC

India Globalization Capital

$0.88 /

+0.009 (+1.03%)

CANN

General Cannabis

$0.00 /

+ (+0.00%)

ZYNE

Zynerba

$7.65 /

+0.05 (+0.66%)

TLRY

Tilray

$22.49 /

-1.34 (-5.62%)

CVSI

CV Sciences

$0.00 /

+ (+0.00%)

CNTTF

CannTrust Holdings

$0.00 /

+ (+0.00%)

APHA

Aphria

$4.97 /

-0.42 (-7.79%)

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CRON Cronos Group
$8.22 /

-0.35 (-4.08%)

10/09/19 Roth Capital
Roth says low enthusiasm for cannabis stocks doesn't reflect industry potential
10/07/19 BofA
Cannabis consensus estimates still may be 30% too high, says BofA/Merrill
09/26/19 Compass Point
Cannabis banking bill should find path to passage in Senate, says Compass Point
09/20/19 MKM Partners
MKM Partners starts Cronos Group at Neutral with C$14 price target
ACB Aurora Cannabis
$3.94 /

-0.17 (-4.14%)

09/24/19 CIBC
Aurora Cannabis initiated with a Neutral at CIBC
CGC Canopy Growth
$21.30 /

-1.49 (-6.54%)

10/01/19 Piper Sandler
Canopy Growth price target lowered to $40 from $49 at Piper Jaffray
09/27/19
Fly Intel: Top five analyst downgrades
IGC India Globalization Capital
$0.88 /

+0.009 (+1.03%)

06/10/19 Piper Sandler
Cannabis regulation could become top 2020 election issue, says Piper Jaffray
03/14/19 Cowen
Narrow U.S. cannabis bills have better prospects than broad ones, says Cowen
02/14/19 Cowen
SAFE Act should pass House, Senate path less clear, says Cowen
CANN General Cannabis
$0.00 /

+ (+0.00%)

ZYNE Zynerba
$7.65 /

+0.05 (+0.66%)

09/19/19 H.C. Wainwright
Zynerba selloff on open-label data for Zygel 'unwarranted,' says H.C. Wainwright
09/19/19 Canaccord
Zynerba data confusion creates buying opportunity, says Canaccord
09/16/19 Jefferies
Zynerba assumed with a Hold at Jefferies
TLRY Tilray
$22.49 /

-1.34 (-5.62%)

09/20/19 MKM Partners
MKM Partners starts Tilray at Neutral, says consensus too high
09/19/19 MKM Partners
Tilray initiated with a Neutral at MKM Partners
CVSI CV Sciences
$0.00 /

+ (+0.00%)

09/25/19 Piper Sandler
CV Sciences, Charlotte's Web offer most upside on CBD catalysts, says Piper
08/13/19 Piper Sandler
CV Sciences initiated with an Overweight at Piper Jaffray
08/12/19 Piper Sandler
CV Sciences initiated with an Overweight at Piper Jaffray
CNTTF CannTrust Holdings
$0.00 /

+ (+0.00%)

APHA Aphria
$4.97 /

-0.42 (-7.79%)

07/26/19 CIBC
Aphria downgraded to Underperformer from Neutral at CIBC

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