Four companies report earnings this week, starting with ACB today:
Quote:
Shares of Aurora Cannabis Inc. surged 3.3% in premarket trade Monday, after the Canada-based cannabis company reported Monday fiscal first-quarter net earnings that rose to $105.5 million from $3.6 million a year ago, and from $79.9 million in the previous quarter. Total revenue rose 260% from a year ago and 55% from the previous quarter to $29.7 million, while cannabis revenue jumped 236% from last year and 65% from last quarter to $24.6 million. The average selling price per gram of dried cannabis grew 15% from a year ago to $8.39, while the cash cost per gram fell 12% to $1.90. For cannabis extracts, the net selling price per gram fell 26% to $12.12, while costs declined 22% to $1.45. Active registered patients rose 250% to 67,484. The company the jump in net earnings was primarily attributable to unrealized non-cash gains on derivatives and marketable securities. "The commencement of adult consumer use sales in Canada has been very successful for Aurora, with strong performance across all product categories and brands," said Chief Executive Terry Booth. "Given the strong unmet consumer demand evident across Canada, we are confident that our rapidly increasing production capacity will result in continued acceleration of revenue growth." The stock has rallied 58% over the past three months while the ETF MG Alternative Harvest ETF (MJ) has climbed 22% and the S&P 500 has slipped 1.8%.
ACB tanking on that right now is curious. Great numbers if you ignore only pulling in about 20mil. Will be interesting to see what happens this week. Another flush in progress?
Well this is lots of fun. I'm really glad I decided to get back into the market, and specifically to invest in cannabis stocks. This is all going how I planned it. This is great.
Well this is lots of fun. I'm really glad I decided to get back into the market, and specifically to invest in cannabis stocks. This is all going how I planned it. This is great.
good rule: if you're feeling fomo, it's already too late.
Well this is lots of fun. I'm really glad I decided to get back into the market, and specifically to invest in cannabis stocks. This is all going how I planned it. This is great.
Outside of the usual, starting to watch SNN, TNY and TGIF again.
Sunniva really getting hammered. Like their long term prospects a lot. Just have to check on any upcoming dilution, but beyond that they're probably one of the best values in the space given all the markets they want to serve and how battered their share price is.
I've been buying Aphria... risky. Price depressed by short report that seems to be 98% illegitimate. I don't see how they are.. not even 20% of canopy market cap considering they have similar production capacity and higher rated product. January 11th earnings could be a big catalyst.
Sector seems too be valued too low now. Maybe the rec earnings reports will provide a boost.
I bought Hexo and TGOD today. ... TGOD should begin showing revenue in January from its medical service, and gets hopes to get rec production going Q1.
Will be interesting to see what happens to the calls I've been accumulating the last 2 weeks. Some of them are at $10 U.S., well below the buyout offer.
The buyout offer looks like complete garbage though. If it goes through it will be a crime.