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(BARC) disclosed last month that it initiated a position in (TLRY) (ticker: TLRY), the Canadian marijuana company, in the third quarter. It owned 26,319 shares of Tilray stock as of Sept. 30, according to a filing Barclays made with the Securities and Exchange Commission. Barclays also greatly increased its investment in another Canadian marijuana producer, (CRON) (CRON).
More big cannabis industry deals could be on the way. But which marijuana producers are the top candidates to partner with major companies outside of the industry?
Altria investment in Canadian cannabis producer Cronos sparked a rally in the broad cannabis sector and the its ETF. Will the trend continue?
AbbVie (ABBV) expects Humira to report revenue of close to $6.3 billion in international markets in 2018. AbbVie reported Humira sales worth $1.58 billion in international markets in the third quarter, YoY (year-over-year) rises of 1.8% on a reported basis and 4.2% on an operational basis.
Investors need to pay close attention to Canopy Growth (CGC) stock based on the movements in the options market lately.
In the third quarter, AbbVie (ABBV) reported SG&A (selling, general, and administrative) expenses of $1.57 billion, a YoY (year-over-year) rise of 8.77%. However, its adjusted SG&A as a percentage of its total revenue was 19.1% in the third quarter, a YoY improvement of 170 basis points. According to AbbVie’s third-quarter earnings conference call, the company benefited from improved operational efficiencies and sales leverage in the quarter.
Last week was a brutal week for Aphria (APHA) (APHQF). Aphria’s troubles began last Monday when Gabriel Grego of Quintessential Capital Management called the stock “worthless” and explained in detail why he believes the company destroyed shareholder value. Aphria fought back and appointed a special committee that consists of independent directors who will be tasked with reviewing the allegations.
In the week ending December 8, two big moves gripped the cannabis market. Cronos Group’s (CRON) 45% stake was acquired by Altria, which caused Cronos to gain 39% last week. Aphria (APHA) (APHQF) cut its stock almost in half last week. The cannabis sector, represented by the Horizons Marijuana Life Sciences ETF (HMMJ), fell almost 4%. The ETFMG Alternative Harvest ETF (MJ) declined 1.5% during the same period. Let’s look at how other stocks performed last week.
On its third-quarter earnings conference call, AbbVie (ABBV) said that it expected its gross margin ratio for 2018 to be more than 80.5% and its adjusted operating margin to be close to 45%. In the third quarter, AbbVie reported an adjusted gross margin of 81.7%, a YoY (year-over-year) rise of 90 basis points. It expects a further positive impact of 170–180 basis points on its gross margin in 2019 due to the royalty termination.
There's more to the story for these Canadian marijuana stocks' gains -- or lack thereof -- in 2018.
Which stock wins in a matchup between a big marijuana producer and a top ancillary products supplier to the cannabis industry?
When Canada legalized recreational marijuana in October, it emerged as the world leader in the industry — and U.S. companies are scrambling to get in on the action. Uruguay may have been the first country to legalize pot, but the South American country's market is dwarfed by Canada's. And while a majority of U.S. states have legalized marijuana to varying degrees, contradictory federal laws have U.S. companies reluctant to invest here. — Marlboro maker Altria Group Inc., which is headquartered in Richmond, Virginia, is paying $1.8 billion for a 45 percent stake in Cronos Group.