Canopy Growth And Other Hot Cannabis Stocks Will Soon Report Earnings, What Investors Need To Know Now
Portfolio Pulse from Jelena Martinovic
Several cannabis companies, including Canopy Growth Corporation, WM Technology, Inc., Charlotte's Web Holdings, Inc., Cronos Group Inc., and TILT Holdings Inc., are set to report their earnings for the second quarter of 2024. Canopy Growth is expanding in Europe and has established an at-the-market equity program. WM Technology expects stable sales but lower EBITDA due to increased marketing spend. Charlotte's Web faced a significant revenue decline in the first quarter. Cronos Group saw a 30% increase in net revenue, driven by sales in Canada and Israel. TILT Holdings experienced disruptions in the vape hardware segment but sees growth opportunities in hemp-derived vapes.
July 26, 2024 | 2:16 pm
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POSITIVE IMPACT
Canopy Growth Corporation will report its Q1 FY2025 earnings on August 9, 2024. The company is expanding in Europe and has established an at-the-market equity program to issue up to $250 million worth of shares.
Canopy's expansion in Europe and the new equity program are positive developments that could boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Cronos Group Inc. will report its Q2 2024 earnings on August 8, 2024. The company saw a 30% increase in net revenue in Q1 2024, driven by sales in Canada and Israel.
The strong revenue growth in Q1 driven by key markets suggests positive momentum, which could lead to a favorable earnings report and a potential stock price increase.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
WM Technology, Inc. will report its Q2 2024 earnings on August 8, 2024. The company expects stable sales but lower EBITDA due to increased marketing spend. Recent legalization in Ohio may drive growth in H2 2024.
While stable sales are expected, the lower EBITDA due to increased marketing spend may neutralize any positive impact from the recent legalization in Ohio.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
TILT Holdings Inc. will report its Q2 2024 earnings on August 9, 2024. The company faced disruptions in the vape hardware segment but sees growth opportunities in hemp-derived vapes.
While the company faced disruptions, the potential growth in hemp-derived vapes could offset some of the negative impacts, leading to a neutral short-term outlook.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Charlotte's Web Holdings, Inc. will report its Q2 2024 earnings on August 8, 2024. The company faced a 29% revenue decline in Q1 2024.
The significant revenue decline in Q1 suggests potential challenges ahead, which may negatively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70