Hash oil, also known as honey oil or cannabis oil, is an oleoresin obtained by the extraction of cannabis or hashish. It is a cannabis concentrate containing many of its resins and terpenes – in particular, tetrahydrocannabinol, cannabidiol, and other cannabinoids
The form of the extract varies depending on the extraction process used; it may be liquid, a clear amber solid (called “shatter”), a sticky semisolid substance (called “wax”), or a brittle honeycombed solid (called “honeycomb wax”).
Martha Stewart and Canopy Growth team up
In February, Canopy Growth teamed up with lifestyle guru Martha Stewart to produce hemp-based CBD products. I believe the company intends to drive consumer interest in CBD products. Although they are legal on a state-by-state basis, CBD products still face scrutiny from the FDA.
Jim Cramer, the host of CNBC’s Mad Money, also favors the idea of the partnership. He said, “When you have a Martha Stewart get behind [CBD], that matters. In the same way that it matters that Rob Sands and Bill Newlands, who was a great teacher we had, backed Canopy. This is very important.”
Stewart told CNBC, “I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living.” It looks like Canopy Growth wants to benefit from her expansive knowledge of consumer products.
Cannabis players’ expansion into edibles business
Canopy Growth (CGC) (WEED) suffered in its first quarter of fiscal 2020, as it reported huge losses. Its revenues also missed analysts’ estimates. We expect the company to benefit from the CBD business. A February 28 CNBC report noted that Canopy Growth is already conducting several clinical trials to study the effects of CBD on human and animal health.
First & Free – a hemp-derived CBD product line
Canopy Growth (NYSE:CGC) has launched First & Free – a hemp-derived CBD product line offered in a variety of formats, including softgels, oil drops and creams. The products will be available for purchase through e-commerce site: www.firstandfree.com.
Recreational marijuana legal in Illinois
Illinois is ringing in the new decade by becoming the 11th state in the country and the District of Columbia to allow the legal sale and purchase of marijuana.
Under the new state law, adults over the age of 21 may own 30 grams of cannabis flower, 500 milligrams of THC in pot products and 5 grams of cannabis concentrate.
Cannabis stocks are enjoying end-of-the-year buying today, giving battered longs hope for a better 2020. Selected tickers: Cronos Group (CRON +11.7%), Aurora Cannabis (ACB +11.3%), Tilray (TLRY +8.5%), Canopy Growth (CGC +9.2%), Alternative Harvest ETF (MJ +4.3%), The Cannabis ETF (THCX +4%), Aphria (APHA +7%)
In case you didn’t get the memo, what’s popularly known as “Cannabis 2.0” is coming to Canada on Oct. 17 as the nation finally legalizes cannabis-infused beverages, edibles, vapes, and similar products. Owners of Aurora Cannabis (NYSE:ACB) stock could potentially be sitting on a green-hued gold mine if the pot-stock sector explodes to the upside in the wake of this historic event.
Aurora has been granted a processing license from Health Canada (the nation’s regulatory agency) for a facility known as Aurora Air. This particular facility will produce edible products including chocolates and gummies, which are expected to go public in Canada as soon as December of this year.
I consider that to be a very forward-thinking move on Aurora’s part, as edibles don’t carry the stigma that vaping products do. The fact that Health Canada granted the Aurora Air license, moreover, is a sign that the nation’s regulators accept and embrace edibles as a publicly purveyed commodity; you can love ’em or hate ’em, but edibles are here to stay.
The management team at Canopy Growth revealed some really positive developments, but also some very painful ones incurred by the business.
In its latest quarter, the company posted a record harvest that indicates strong sales moving forward. However, pricing, declining cash balances, and continued negative cash flows are all concerns that investors need to keep in mind.
Pain just keeps building up for the players in the cannabis space. In its latest filing, for instance, the management team at Canopy Growth Corp. (CGC) revealed that, despite posting strong sales and volume growth in the first quarter of its 2020 fiscal year, it’s still unable to generate a profit.
Add to this continued declines in its cash on hand, poor recreational cannabis pricing, and the prospect of some industry oversupply issues, and investors are right to be concerned. Even though, in the long run, Canopy will likely dominate the space as one of the few major players in the market, in the short run it looks like shareholders could be in for a world of hurt if current trends continue.
Management did say that during the quarter they happened to harvest 40,960kg of the plant, up 323% from the 9,685kg harvested one year earlier. The amount actually harvested during the quarter was well above the 34,000kg worth previously forecasted, and over 70% of what was produced fits the company’s definition of “high THC” strains. This should translate into far higher sales in the next quarter or two, meaning that this prior quarter may have been more of a bump in the road on Canopy’s road to growth.
Canopy Growth Q1 2020 Earnings Preview
Canopy Growth (OTC:CGC) is scheduled to announce Q1 earnings results on Wednesday, August 14th, after market close.
The consensus EPS Estimate is -$0.31 (+22.5% Y/Y) and the consensus Revenue Estimate is $84.62M (+226.7% Y/Y).
Over the last 1 year, cgc has beaten EPS estimates 0% of the time and has beaten revenue estimates 75% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 3 downward. Revenue estimates have seen 1 upward revision and 5 downward.
Heineken And Cannabis Go Well Together
Lagunitas, a subsidiary of Heineken, brought a new cannabis-infused beverage on the market.The product is selling well, and demand is increasing rapidly.The successful launch will not bring in a lot of money (yet).
On June 26, 2018, Lagunitas, a subsidiary of Heineken (OTCQX:HEINY), announced that it will launch an IPA-inspired sparkling water which contains hops and is infused with THC and/or CBD. Both of the ingredients
HEXO (HEXO) closed at $4.91 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500’s daily loss of 0.62%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.74%.
Prior to today’s trading, shares of the cannabis producer had lost 14.24% over the past month. This has lagged the Medical sector’s loss of 1.47% and the S&P 500’s gain of 2.8% in that time.