Marijuana stocks are having a strong year. Since the beginning of 2019, the ETFMG Alternative Harvest ETF (MJ) has enjoyed a run of more than 50% at its peak and is still up by more than 40% as of this week. Despite the broader market turmoil, this has been one sector that remains in the green. Sure, we saw a pullback late last week, however, these short-term dips have quickly subsided. Thanks to an active mix of new legislation on the table as well as global growth on the horizon for places like German, cannabis remains a big focus for investors.
Today we are highlighting: Leafbuyer Technologies (LBUY), Canopy Growth Corporation (WEED.TO), Aurora Cannabis Inc. (ACB.TO), Aphria Inc. (APHA.TO).
Leafbuyer Technologies (LBUY) (Market Cap: $45.606M) has become a leading online resource for cannabis deals and information. Leafbuyer works with cannabis businesses to showcase unique products and build a network of loyal patrons. The Company’s online network reaches millions of marijuana consumers every month. Leafbuyer is the official cannabis deals platform of LA Weekly, Voice Media Group, Dope Media, Grasscity, and The Stranger.
What the public should take note of is the company’s focus on growth. For starters, quarterly sales rose 67% in the quarter ending September 30, 2018. To play on this growth, Leafbuyer continued its sales growth. Recently the company announced an increase in quarterly cash sales growth of 36% year over year in the quarter ending March 31, 2019. Thanks to these milestones, the company has also identified opportunities for expanding its operations as well.
Not only has the company established its first satellite office in Los Angeles, California, Leafbuyer has also begun to grow its offerings. The company most recently announced that rollout of its cutting edge delivery technology to complement its mobile application. Dispensaries in states like California, Arizona, Nevada, and Washington can now add delivery to their list of offerings through the Greenlight mobile application. Being one of the few public companies with exposure to delivery technology, this could be a new aspect for the public to take notice of.
Kurt Rossner, CEO of Leafbuyer explained, “We’ll be able to penetrate thousands of new dispensaries and delivery companies in legal markets by offering this delivery solution. Leafbuyer will not physically deliver the products, rather we will hand off the ‘last mile’ to our delivery and dispensary partners.”
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Canopy Growth Corporation (WEED.TO) (Market Cap: $22.827B) came under fire this month after an activist investor brought a little heat on the company. Activist investor Mick McGuire's hedge fund Marcato Capital Management came out against Canopy Growth Corp and its proposed acquisition of Acreage Holdings Inc (ACRGF) in a letter sent to Acreage's board of directors. "We believe Acreage's strategic value, as one of the few multistate operators of scale in the U.S., with leading positions in the most valuable markets merits a significant premium to any stand-alone cash-flow derived valuation," Marcato said in the letter.
Despite this fact, shares of Canopy are still up by more than 13% over the last 30 days. Outside of the Acreage deal, Canopy hasn’t slowed down on the acquisition front. Canopy has acquired German-based, Bionorica SE-founded C3 Cannabinoid Compound Company. The all cash-acquisition for CDN $342.9 million furthers Canopy Growth's expansion into European markets.
Aurora Cannabis Inc. (ACB.TO) (Market Cap: $12.136B) saw shares of its stock rally on Monday. This came swiftly after the majority of marijuana stocks opened slightly lower. The company has been on the same trail as other cannabis companies when it comes to doing deals in the space. Aurora Cannabis and EnWave Corporation (ENW.V) announced a few weeks ago that the companies have entered into a royalty-bearing commercial license agreement.
The deal provides Aurora with the exclusive rights to EnWave's patented Radiant Energy Vacuum drying technology for the production of cannabis materials in the European Union, excluding Portugal. In other news, the company has scheduled its conference call to discuss the results for its third quarter ended March 31, 2019, set for May 15th.
Aphria Inc. (APHA.TO) (Market Cap: $2.322B) saw a similar trend in the market on Monday. After gapping down during the early morning session, shares rebounded by the end of the day. It too will be hosting an earnings call this month on the 14th of May.
One of the biggest developments that the public has taken notice of is that the takeover bid brought by Green Growth Brands had officially expired. In conjunction with the expiration, Irwin D. Simon, Aphria's chairman and interim chief executive officer, stated, "We are pleased to have this resolved in a favourable manner. We continue to move forward, creating long-term shareholder value by leveraging our production expansion, industrial-scale cultivation and automation, brand positioning, and our strategic global expansion initiatives that, as mentioned before, will be additionally supported by the $89.0-million in proceeds from the transaction.”
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Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Leafbuyer Technologies Inc., Midam is being paid $50,000 for a period of 30 days beginning November 1, 2018, and ending November 30, 2018. Midam has been paid an additional $50,000 and 40,000 common restricted shares of Leafbuyer Technologies, Inc. extending the contract another 30 days ending December 31, 2018. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to January 31, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to March 1, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to April 1, 2019. Midam has been compensated an additional $100,000 by Leafbuyer Technologies for a period of coverage from April 12, 2019 to June 12, 2019. We owned 77,000 shares of Leafbuyer Technologies. We may buy or sell additional shares of (LBUY) in the open market at any time (as of 3/29/2019) Midam Ventures no longer owns 77,000 shares of LBUY), including before, during or after the Website and Information, to provide public dissemination of favorable Information about Leafbuyer Technologies Inc.
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