PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » Cannabis » Aleafia Health Leads Course For Cannabis Stocks

Photo: Marco Verch | Flickr | CC BY 2.0

Photo: Marco Verch | Flickr | CC BY 2.0

Aleafia Health Leads Course For Cannabis Stocks

by PublicWire
June 27, 2019
in Cannabis
Reading Time: 2 mins read
0

A $40. 25 million convertible debt offering from Aleafia Health Inc. pushes Cannabis stocks up with the Toronto-based cannabis company leading the charge.

The multimillion convertible debt can definitely bolster the company’s balance sheet and help grow its business and with its announcement, Aleafia’s U.S.-listed shares ALEAF, +13.51% were last up about 14% in heavier-than-average volume to mark their biggest one-day percentage gain since September 21.

Mackie Research Capital, BMO Capital Markets and Canaccord Genuity Corp., the underwriter’s for Aleafia’s debt offering have fully exercised the over-allotment option to contribute $5.25 million to the total raise. More than 793,000 shares had changed hands by midday, exceeding the average daily volume of 579,000.

The capital raise for Aleafia is currently leading the charge for almost-all-high trading for the cannabis industry. Industry leader, Canopy Growth, Inc., rose 1.5% after they have already started implementing their agreement with Acreage Holdings Inc. The deal would allow Acreage to sell some of Canopy’s best-known brands, including Tweed and Tokyo Smoke. Acreage shareholders will receive about $2.63 per share as part of the $300 million that Canopy is paying for that option by July 3.

“This arrangement supplements and amplifies Canopy’s ability to attack the U.S., the largest global cannabis market ($100 billion opportunities by our estimate) providing a significant competitive advantage for Canopy about its Canadian peers,” Stifel analysts led by Andrew Carter wrote last week in a note to clients.

Zenabis Global Inc. shares ZENA, +7.69% also rose 3%, after GMP initiated coverage of the stock with a buy rating and C$3.25 ($2.48) stock price target that is almost double its current trading level. “We spoke to several of ZENA’s partners, including government contacts who all had exceptional regard for the company and its products,” Keywood wrote in a note to clients. “ZENA’s quality of facilities, the receptiveness of management, and ethical practices were all mentioned as key criteria in a stringent partner evaluation process.”

Other cannabis stocks closed trading high as well.

Previous Post

Bitcoin Prices Just Did An Olympic Nosedive

Next Post

Emerging Market News Weekly Round Up Friday June 28 2019

PublicWire

At PublicWire, we know the vast majority of all investors conduct their due diligence and get their news online in a variety of ways including email, social media, financial websites, text messages, RSS feeds and audio/video podcasts. PublicWire’s financial communications program is uniquely positioned to reach these investors throughout the U.S. and Canada as well as on a global scale.

Related Posts

Photo by GRAS GRÜN on Unsplash
Cannabis

Zenabis returned $1.9 million worth of pot to Sundial over bad quality and visible molds

August 22, 2019
0
Photo by Rick Proctor on Unsplash
Cannabis

Tilray to start exporting medicinal pot to Germany

August 21, 2019
0
Photo by Esteban Lopez on Unsplash
Cannabis

CannTrust stocks fell another 5% after weed distributor returned millions worth of pot

August 20, 2019
0
Photo by Roberto Valdivia on Unsplash
Cannabis

Cannabis stocks fell as possible recession brews

August 14, 2019
0
Cannabis

Aurora Cannabis hovers trade flat amid strong market

August 13, 2019
0
Photo by Get Budding on Unsplash
Cannabis

Health inspectors flagged CannTrust’s non-compliance again, sending stocks down by 26%

August 12, 2019
0
Next Post

Emerging Market News Weekly Round Up Friday June 28 2019

Please login to join discussion

Subscribe To Our Newsletter

Loading
Ad
PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2022 publicwire.com

Navigate Site

  • About
  • Contact Us
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • Videos

© Copyright 2022 publicwire.com

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.