Welcome back to our weekly series, Schaeffer Cannabis Stock News Updatewhere we summarize what happened to the world of marijuana stocks this week, and look forward to how the cannabis industry will continue to grow in 2022.
Here is a quick summary of major cannabis stock this week’s news:
We start the week with a good grade, Village Farms International, Inc. (NASDAQ: VFF) was named by Corporate Knights on its Future 50 list: The fastest growing sustainable companies in Canada. VFF presents the highest annual increase in net revenue of more than 6,000 companies that were considered for listing. According to Village Farms, “We firmly believe that what is good for the land is good for our business, good for our employees and good for our stakeholders.” Village Farms shares are currently trading at 55% to date.
High Tide Inc. (NASDAQ: HITI) opened its 126th recreational cannabis store in Canada on Monday with its Canna Cabana brand in Saskatoon, Saskatchewan. The price of High Tide shares has dropped almost 70% in the last year.
In a report issued to investors on Wednesday, Canopy Growth (NASDAQ: CGC) was downgraded by BMO Capital Markets hedging analysts from a “market performance” rating to a “poor” rating. Shares of Canopy Growth have fallen nearly 85% year-on-year.
The Scotts Miracle-Gro Company (NYSE: SMG) published a reduced guide for the remainder of fiscal year 2022 in the early hours of Wednesday. Earnings are now expected to be between $ 4.50 and $ 5.00 per share and consumer sales are expected to fall by between 4% and 6%. Specifically for the hydroponics industry, Hawthorne, SMG expects a 40-45% year-on-year decline for fiscal year 2022. According to SMG, “Obviously, we are focused on implementing aggressive plans to improve cash flow, reduce debt, and get leverage back to our target levels as soon as possible.” Shares of Scotts Miracle-Gro fell more than 11% before the market in the news and SMG is currently trading at almost 45% to date.
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) is officially abandoning the cannabis business according to Wednesday’s press release. NEPT launched a new strategic plan focused on consumer packaged goods (CPG), with plans to divest in the company’s cannabis business by selling the Mood Ring and PanHash brands and terminating 50% of employees. According to Neptune Wellness Solutions, “This is the final stage of our transition to a packaged consumer goods company with a pure purpose. This strategic divestment greatly simplifies our overall structure, allowing us to focus heavily on those areas of the business that we believe they are better positioned for profitability and growth. ” Neptune Wellness stock prices have dropped more than 90% in the last year.
Cantourage GmbH i Clever Leaves Holdings Inc. (NASDAQ: CLVR) announced on Wednesday an expansion of its pre-existing strategic partnership designed to distribute medical marijuana to the German cannabis pharmaceutical market. After a successful release of Clever Leaves’ IQANNA No. 7 flower, Cantourage and Clever Leaves released “IQANNA No. 10”. The new product is grown in a CLVR facility in Portugal and then processed by Cantourage. Clever Leaves stock prices have fallen 89% year-over-year.
On Thursday, BayMedica LLC, a wholly owned subsidiary of InMed Pharmaceuticals Inc. (NASDAQ: INM), announced the launch of a tetrahydrocannabivarine of 9 dominant delta of rare cannabinoids. This cannabinoid is a non-intoxicating cannabinoid. According to the INM, “THCV is one of the few rare cannabinoids that has been investigated in early clinical trials for various therapeutic effects, fueling significant interest from both end-product manufacturers and consumers. continues to mature, we are well positioned to be a leading supplier of rare cannabinoids to the health and wellness industry.We currently have several rare and high value cannabinoids in various stages of commercial development and will continue to expand our cannabinoid portfolio for in the coming years “. Shares of InMed are down about 50% year-over-year.
7 outdoor stocks to buy before investors leave in the summer
Outdoor living is one of the most important sectors of the stock market. The United States spends more than $ 800 billion each year on outdoor entertainment. To put it in context, this expenditure figure is at the level of the financial services and insurance sector. And it’s almost double the cost of the pharmaceutical industry.
Actions that focused on outdoor living increased during the pandemic because many Americans understood that being outdoors (albeit socially distant) was paramount to their physical and mental health. . However, the sector did not see a slowdown in 2021. And it looks like it will continue to be a strong sector in 2022. One of the reasons is inflation. Travel budgets are likely to be affected. But the sun and fresh air are free.
But isn’t this a bad time to buy stocks? It could be. But it really comes down to being demanding. Quality is still important and there are many quality names in this industry. And in this exclusive MarketBeat, we offer seven outdoor stocks that are good buying opportunities because they lean towards the broader macroeconomic image.
Check out the “7 Outdoor Living Stocks to Buy Before Investors Leave in the Summer.”
