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It's been a brutal third quarter for cannabis stocks, but Canopy Growth Corp. (NYSE: CGC) is well positioned to exceed growth expectations in the third quarter, one Wall Street analyst says.The Analyst: Cantor Fitzgerald analyst Pablo Zuanic reiterated his Neutral rating for Canopy and raised his price target from $20.56 to $20.93.The Thesis: Zuanic says Canopy may be dealing with one of the same problems that has impacted Aurora Cannabis Inc, (NYSE: ACB) -- too much reliance on the flower value segment rather than higher-margin products. As a result, the companies are getting hit by price deflation, even at the low end of the price scale.Flower made up 69% of Canopy's recreational sales in the fourth quarter of 2019. That level dipped to 57% in the second quarter of 2020 but then increased back to 61% in the third quarter.Fortunately, Canopy has much more financial flexibility and can afford to take...
After the summer bulls, markets corrected themselves – but more than that, the selling was highly concentrated in the tech sector. The tech-heavy NASDAQ is now leading the on the fall, having lost 11.5% since September 2.JPMorgan strategist Marko Kolanovic points out that much of the market is now well-positioned for a rebound. Kolanovic believes that stocks will head back up in the last quarter of the year.“Now we think the selloff is probably over. Positioning is low. We got a little bit of a purge, so we think actually market can move higher from here,” Kolanovic noted.Acting on Kolanovic’s outlook, JPMorgan's stock analysts are starting to point out their picks for another bull run. These are stocks that JPM believes they may double or better over the coming year. Running the tickers through TipRanks’ database, we wanted to find out what makes them so compelling.NexTier Oilfield Solutions (NEX)The first JPM...
The Euro finally break down below the 1.17 level, and it is likely that we are going to see continued negativity. I think rallies are going to be sold into....
Amanda Agati, PNC Chief Investment Strategist, joins Yahoo Finance’s The First Trade with Alexis Christoforous, Brian Sozzi and Jared Blikre to discuss what’s moving the markets around Friday’s opening bell....
Yahoo Finance's Emily McCormick joins Yahoo Finance’s The First Trade with Alexis Christoforous and Brian Sozzi to discuss U.S. Consumer Durable Goods Orders, Costco earnings and Palantir gearing up for its public debut....
Stocks opened mixed Friday as a surge in coronavirus cases in Europe and concerns over prospects of fiscal stimulus in the US rattled investors....
It took me a while to warm up to Nio (NYSE:NIO). My colleague Bret Kenwell shares my thoughts on investing in the electric vehicle (EV) carmaker. He said it takes a lot of money to build a new auto company into a profitable entity. But true as this may be, Nio has faced several headwinds this year. In fact, prior to receiving some timely funds from the Chinese government, Nio was charging headlong into bankruptcy.Source: Carrie Fereday / Shutterstock.com That's why, when I wrote about the company a month ago, I said that it was now going to be judged by a different standard. What I meant by that was that with bankruptcy off the table, Nio has to show investors that it will be a long-term player in the EV market.What I didn't mean was that investors need to start trading Nio based on news about Tesla (NASDAQ:TSLA). The specific...
