Cannabis Roundup: HEXO, APHA, and MMEN


Now, investors’ optimism more than powerful earnings and the progress in the US-China trade war seem to have driven the US markets greater. At two:10 PM EDT, the S&ampP 500 Index and the Dow Jones Industrial Typical have been up by .six% and .five%, respectively. Even so, the cannabis sector was trading in the red currently.

At 1:34 PM EDT, the Horizons Marijuana Life Sciences Index ETF (HMMJ) was down by .five%. Plus, the ETFMG Option Harvest ETF (MJ) was trading .eight% reduce at two:10 PM EDT.

HEXO receives licenses from Wellness Canada

Now, Hexo (HEXO) announced that it had received new licenses from Wellness Canada. The corporation received a Investigation and Improvement License for its Centre of Excellence situated in Belleville, Ontario. Plus, it received an amended license for its Gatineau campus, which enables it to sell cannabis-derived merchandise.

Notably, Hexo plans to report its fourth-quarter earnings currently just after the marketplace closes. At 1:56 PM EDT, HEXO stock was trading 1.three% reduce. For analysts’ expectations for its fourth-quarter earnings, please study Could HEXO’s Q4 Earnings Enhance Its Stock Price tag? On Friday, CIBC downgraded the company’s stock.

Aphria implements new management option

Now, Aphria (APHA) announced that it had implemented ComplianceQuest’s Enterprise Excellent Management Method. The corporation expects the new management option to assistance the upkeep of its GMP compliance and strengthen its operational efficiency.

Now, Aphria stock was trading four.three% reduce at 1:51 PM EDT. So far this month, the corporation has outperformed the broader equity marketplace and its peers. On October 25, the company’s stock price tag has improved five.eight% month-to-date. Even so, the S&ampP 500 Index has risen 1.five% month-to-date. Notably, the company’s superior-than-anticipated initial-quarter EBITDA and EPS seem to have led to a rise in the company’s stock price tag.

MedMen rise more than five.five%

Now at 1:51 PM ET, MedMen Enterprises (MMEN) (MMNFF) stock was trading five.eight% greater. On Friday, the corporation opened two new retailers in Florida, 1 every in Central Orlando and Tallahassee. With these two new retailers, the company’s total shop count has improved to seven in the state. MedMen plans to open 5 a lot more retailers this year.

All round, MedMen has a license to operate 35 retailers in the state. This month, the corporation has lost 11.three% of its stock worth by way of October 25. For analysts’ suggestions, please study MedMen: Analysts’ Decrease Target Price tag and Ratings.

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