CORAL GABLES, FL / ACCESSWIRE / November 27,2018 / Many marijuana stocks have seen a rally in the stock market this year. North American demand for legal marijuana is expected to jump dramatically as Canada officially commenced its legalization of recreational marijuana this year. According to the Cannabis Business Plan, recreational cannabis could experience annual revenues north of $8 billion by 2020 in Canada alone.
This is an obvious opportunity for industry leaders to focus on the expansion of things like cultivation efforts as the consumer base grows and new markets are created around the world. The momentum from other countries, including the United States , is also helping to push the industry forward. With investors and traditional businesses latching onto marijuana stocks , while also seeing the impact that the recent midterm elections have had on further legalization efforts here are 4 stocks to watch heading into the holidays
Koios Founder and CEO Chris Miller explained, “Our focus in this first year has been to develop and refine our line of functional beverages, but also to build out our distribution network as quickly as possible,” Miller said. “I think we have met or exceeded the benchmarks we set for the Company on both those goals, and in addition, we have zeroed in on building out our e-commerce , direct to consumer and distribution platforms as efficiently and quickly as possible.”
Koios Beverage Corp. (KBEVF) (KBEV.CN) also announced in early September that Koios Beverage Corp. will begin production of a new line of functional beverages under the brand Fit Soda, beginning in the first quarter of 2019. The Fit Soda line of beveragesare as much about taste as they are about the benefits of health supplements. “The idea was to create a beverage that gives you all the taste you expect from a quality soda product, but with none of the guilt,” Miller says. “It’s a ‘soda with benefits’.”
Koios Beverage Corp. (KBEVF) (KBEV.CN) has relationships with some of the largest and most reputable distributors in the United States, including Europa Sports, SportLife Distribution, KeHE, and Wishing-U-Well. Together these distributors represent more than 80,000 brick-and-mortar locations across the United States – from sports nutrition stores to large natural grocery chains including Whole Foods and Sunflower markets.
Innovative Industrial Properties (NYSE:IIPR) saw its share price climb this week. Shares of the Innovative Industrial’s stock hit new 52-week highs this month when stock prices reached highs of $55.63 lastweek.
The company provides creative capital solutions to the medical-use cannabis industry. Innovative recently announced results for the quarter ended September 30, 2018, the seventh full quarter since the Company commenced real estate operations and completed its initial public offering in December 2016.
Innovative Industrial Properties (IIPR) generated total revenues of approximately $3.9 million in the quarter, representing an increase of more than 150% from the prior year. As of November 7, 2018, the Company owned ten properties located in Arizona, Colorado, Maryland, Massachusetts, Michigan, Minnesota, New Yorkand Pennsylvania, totaling approximately 952,000 rentable square feet, which were 100% leased with a weighted-average remaining lease term of approximately 14.7 years. As of November 7, 2018, the Company had invested approximately $121.5 million in the aggregate and had committed an additional approximately $15.9 million to reimburse certain tenants and sellers for completion of construction and tenant improvements at the Company’s properties.
New Age Beverages (NASDAQ:NBEV) announced the results for the third quarter ended September 30,2018 this week. For the three-month period ended September 30, 2018, gross revenues reached $15.3 million versus $16.8 million in the prior year quarter. Net revenuesless discounts, returnsandbillbacks reached $13.2 million versus $15.0 in the prior-year quarter. The working capital shortfall that prohibited the Company’s ability to meet demand during the majority of the quarter, which negatively impacted revenue between $5.8 and $6.2 million.
Gross profit was 16% of net sales versus 33% in the prior year, also reflective of the significant impact of the working capital limitations on production and shipping.
In addition to this, the company announced the closing of its previously announced underwritten public offering of 12,900,000 shares of New Age’s common stock, at a price of $3.50 per share, plus an additional 1,935,000 shares of its common stock pursuant to the full exercise of the over-allotment option granted to the underwriters.
New Age Beverages estimates net proceeds from the offering to be approximately $49 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from this offering for potential acquisitions.
These results helped to boost shares of the company earlier this month. On Tuesday, NBEV traded as high as $3.77 during the regular session.
Tilray (NASDAQ:TLRY) reported an adjusted loss per share of 8 cents, better than a loss of 12 cents expected by four analysts polled byRefinitiv. Its total revenue came in at $10 million, an 85.8 percent increase over the last year. Tilray CEO Brendan Kennedy was quick to point out to in a CNBC interview that this revenue was all tied to medical, not adult use.
“All of that revenue for this quarter is medical and we look forward to nextquarter, when we’ll start to see some Canadian adult-use revenue in that earnings report,” Kennedy said.
Tilray announced earlier in the third quarter that it had become the first and only company to receive regulatory approval in Canada and Germany to export medical cannabis flower for distribution to German patients. Shares of Tilray have climbed to highs of $120.40 this week.
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
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