Cannabis Stocks Advisory
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Cannabis Stocks Advisory Trade Plan Example
December 24, 2018 - Buy Canopy Growth Corp - CGC
Buy Entry: 25.25 to 27.56
Take Profit Price Targets: 32.53 to 38.24, 42.26 to 46.27, 51.98 to 59.25 Longer-Term: Price withheld for subscribers only.
New Cannabis Company Goes IPO on the Nasdaq
June 19 2019 - Newest Pot Stock Is A Tech Firm Backed By Early Facebook Investor By Investors Business Daily
Akerna (KERN), a company that provides compliance software to the cannabis industry, debuted on the Nasdaq on Tuesday, adding to a big U.S. exchange another company that provides ancillary services to an industry that isn't yet fully legal in the nation. Akerna stock jumped, while other marijuana stocks were mixed.
In its debut, the Denver-based company arrives with the backing of Roger McNamee, an early investor in Facebook (FB). McNamee serves as a senior adviser to Akerna's board of directors.
The company also has plans to scoop up others through acquisitions, potentially creating a cannabis-tech giant that could help a rapidly growing industry navigate ever-changing regulations.
Akerna is the product of a merger between MJ Freeway — the company that provided the software business — and MTech Acquisition Corp., a blank-check company. The companies announced Monday that they had completed the merger.
MTech began trading last February. Blank-check companies have minimal operations and exist largely to buy another company and, via the acquisition, take that company public. MTech and MJ Freeway announced the merger agreement in October.
'Aggressive' Acquisition Strategy
Not long after the companies agreed to the merger, Akerna CEO Jessica Billingsley, who ran MJ Freeway, said the combined company would pursue an aggressive acquisition strategy.
Akerna's tech services attempt to address a wide variety of areas in the marijuana business. Those services are intended to help growers harness data on production costs and pricing, and help dispensaries gain more insights on when customers shop and what they shop for. Its software also helps the business keep apace with changing regulations, as businesses try to expand into new U.S. territories with a patchwork of different rules.
"We believe comprehensive, compliant, scalable technology solutions will underpin the industry's rapid growth, and serve as a backbone for sustained success," Scott Sozio, MTech's CEO, said in a written statement on Monday.
In an interview last year, Billingsley said that the deal with MTech saved MJ Freeway "at least six months, if not a year" in time otherwise spent pursuing a traditional IPO.
"In the next four to six months, there is so much movement and consolidation and opportunity in cannabis that there is a very real timing consideration," she added then.
But unlike the Canadian marijuana stocks that debuted on U.S. exchanges last year, Akerna's main product is technology. It doesn't directly grow, process or sell cannabis.
Akerna Stock, Marijuana Stocks
Akerna stock jumped 28% to close at 15.35 in the stock market today. Prior to this week, the stock, then trading as MTech Acquisition Corp., had little movement.
Innovative Industrial Properties (IIPR), a real estate investment trust that focuses on the cannabis industry, climbed 3.2%. The stock is among the highest-rated marijuana stocks, with a 98 Composite Rating.
Among other marijuana stocks, Cronos Group (CRON) dipped 0.9%, and was testing support at its 50-day line. Canopy Growth (CGC) eased 0.4%e.
Aurora Cannabis (ACB) lost 0.5%. Tilray (TLRY) rose 1.6%. Aphria (APHA) fell 0.9%.
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