Marijuana Stocks Capitalize On Industry Momentum: Leafbuyer Technologies (LBUY), Canopy Growth, Aphria
CORAL GABLES, FL / ACCESSWIRE / November 9, 2018 / Marijuana stocks have continued their trend in the spotlight after two major industry developments happened this week. For starters, the 2018 midterm election results came in and voters appeared to support state referendums and candidates that would bring some of the biggest states into the legal cannabis industry in the US. In addition, Attorney General Jeff Sessions has also announced his resignation
Sessions, who has been a staunch adversary of the legalization of cannabis, took a very conservative approach when broaching the subject. Now that this has had time to resonate through the market, investors are looking ahead for new opportunity with pot stocks. Now that there could be some clarity on where the US stands and more public opinion supports additional efforts for federal legalization, here are 3 pot stocks to watch heading into the weekend.
Leafbuyer Technologies (LBUY) announced this week that it has acquired Greenlight Technologies, a California-based application development company. The announcement follows a letter of intent released on September 24, 2018.
The Greenlight mobile application provides cannabis consumers real-time ordering and loyalty rewards through a native progressive web application that integrates with the local dispensary's point of sale system. Leafbuyer Technologies (LBUY) said that this more than doubles Leafbuyer's client base in California.
Leafbuyer Technologies (LBUY) through the acquisition, adds additional revenue streams to leverage Leafbuyer's market penetration. Incorporating Greenlight's order ahead mobile platform into Leafbuyer's bundled package offers a unique, industry-leading combination. The company projects the deal will be accretive to earnings within six months.
Since September, shares of Leafbuyer have been on the rise and have now managed to move up from lows of $0.55 to a closing price of $0.97 on Thursday.
Canopy Growth. (NYSE: CGC) (TSX: WEED) saw its shares jump earlier this week. The company announced on Friday that it has entered into a multi-year agreement with The Brink's Company (BCO) through its Brink's Canada subsidiary to provide secure logistics and cash management services for Canopy Growth's domestic and international cannabis operations.
"Brinks' reputation as a trusted industry leader has been earned by providing reliable secure transport services for over 90 years in Canada ," said Mark Zekulin , President and Co-CEO, Canopy Growth. "As a cannabis producer with growing national and international needs, we are proud to enter into this agreement and look forward to working with Brink's to consistently deliver a variety of high-quality cannabis products to our retail locations and affiliates across the country."
Aphria (NYSE: APHA) (APHQF) (TSX: APH) announced its proposed acquisition of CC Pharma GmbH, a leading distributor of pharmaceutical products to more than 13,000 pharmacies in Germany. The transaction, when closed, will strengthen the Company's end-to-end medical cannabis operations and infrastructure in Germany, a key market in Aphria's international expansion. It is anticipated that the transaction will close in January 2019.
According to Aphria's press release, "The transaction will bolster Aphria's growing presence in Germany, which includes a three-pronged approach covering demand, supply, and distribution. Earlier this year, the Company, through its wholly-owned subsidiary Aphria Deutschland ("Aphria Germany"), acquired a 25.1 percent interest in Berlin-based Schöneberg Hospital, providing access to both doctors and patients to support education about the benefits of medical cannabinoids. It was also the first step in Aphria Germany's plans to build and operate pain treatment centers throughout Germany."
Shares of Aphria traded as high as $13.14 on Thursday.
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