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These 2 Cannabis Stocks Were Among the Most Searched Benzinga Tickers in 2021: Here’s Why

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Among the 20 most searched tickers on Benzinga in 2021 were two well-known cannabis companies. Here are their names and why they were heavily searched in 2021.

Tilray: Ranking as the 18th most searched ticker on Benzinga Pro in 2021 was Tilray Inc (NASDAQ:TLRY). Operating in Canada and over 20 countries worldwide, Tilray is a leading global cannabis-lifestyle and consumer packaged goods company.

One theme continued with Tilray in 2021 that carried over from 2020. Tilray completed a merger with Aphria in May that was announced in the previous year. The merger created one of the largest global cannabis companies.

Tilray announced the acquisitions of Breckenridge Distillery, Green Flash Brewing and Alpine Beer Co. in December.

“We see tremendous potential for Breckenridge and our existing SweetWater brand to complement each other, expanding their respective reach and driving further profitable growth in our beverage alcohol segment,” Tilray CEO Irwin Simon said.

The acquisitions continue to prepare Tilray for further expansion in the U.S. when and if cannabis is federally legalized.

The deals also reflect Tilray’s goal of diversifying itself. “These significant, diversified revenue streams are key to delivering on our ultimate goal of industry leadership with $4 billion in revenue by the end of fiscal year 2024.”

Related Link: Top 10 Most Searched Tickers On Benzinga Pro In 2021: Tesla, Apple, AMC, GameStop And More

Sundial: Cannabis company Sundial Growers Inc (NASDAQ:SNDL) was the 14th most searched ticker on Benzinga Pro in 2021. The company also ranked as the seventh most searched ticker in the first quarter.

Sundial Growers saw strong interest due to its low price per share, making it a penny stock and creating a wide retail following.

Sundial Growers CEO Zach George was a featured speaker at the October Benzinga Cannabis Capital Conference. George said that there were three main factors affecting the Canadian cannabis market: price compression, regulatory dysfunction and market share competition.

“Too many companies are vying for market share,” George said, adding that not all of them will survive.

George credited retail traders as being a new opportunity for Sundial. “I think the retail investor needs to be respected and recognized as a market participant,” he said.

George noted that retail investors have more tools and are becoming “more and more sophisticated.”

Sundial said it has limited the number of discounted products that it offers, with a new business model centered on profitable revenue growth. The company also indicated it is committed to the Canadian market but sees opportunities in the U.S.

Another reason Sundial likely saw strong search demand in the first quarter and full year was a stock trade made by well-known internet personality and Barstool Sports founder Dave Portnoy.

In February, Portnoy bough 377,000 shares of SNDL and flipped them for a quick $50,000 profit. The transaction came as SNDL saw strong interest on WallStreetBets as well.

Why It’s Important: There are many publicly traded cannabis companies. Although due to regulatory hurdles, few of the public cannabis companies trade on major exchanges like Tilray and Sundial. Several popular retail stockbrokers do not offer OTC trading, limiting the number of cannabis stocks investors can buy.

The U.S. Congress has been vocal throughout 2021 about the potential of moving forward on various cannabis bills, which could make cannabis stocks like SNDL and TLRY among top searches again in 2022.

Price Action: TLRY shares ended 2021 down 13.6%, at $7.28. On Wednesday, the stock was trading at $6.93 down 2.46% on the day.

SNDL shares ended 2021 up 19.4%, ending the year at $0.58. The stock was down 0.84% on Wednesday at $0.64.

Related Link: What 2021 Taught Us About Youth Cannabis Use

Original Source: benzinga.com

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Will You Sell Your Dogecoin If It Reaches $0.50 (Again) in 2022? Over 75% Say…

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Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

This week, we posed the following question to Benzinga visitors: Will you sell your Dogecoin (CRYPTO: DOGE) if it reaches $0.50 in 2022?

Since early 2021, it’s no secret Dogecoin’s price has risen or fallen in sympathy with both the price of Bitcoin (CRYPTO: BTC) and tweets by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk. Heavy support for Dogecoin, by Musk, might give the meme crypto a shot at reaching $0.50 in 2022.

Back on May 8, 2021, Dogecoin reached an all-time high of $0.7376 in anticipation of Musk’s appearance on Saturday Night Live. The meme crypto is since trading lower by 81.7%. 

Here are the full results from this week’s survey:

Yes, I will sell my Dogecoin if it reaches $0.50: 75.3%
No, I will not sell my Dogecoin if it reaches $0.50: 24.7%

This sentiment study was conducted amid another active week of trading, which saw the meme cryptocurrency fall by over 28%.

At the time of publication, Dogecoin was trading around $0.1338, down 11.2% in the past 24 hours.

See Also: Dogecoin Vs. Shiba Inu

This survey was conducted by Benzinga in January 2022 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.

Source: benzinga.com

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Apple Poised to Outperform Expectations in December Quarter, Analyst Says: How Will Shares React?

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Notwithstanding supply constraints, an analyst at Morgan Stanley is positive about Apple Inc.’s (NASDAQ:AAPL) December quarter performance.

The Apple Analyst: Morgan Stanley analyst Katy Huberty has an Overweight rating and a $200 price target for Apple shares.

The Apple Thesis: Cupertino is likely to post upside to Street forecasts for the December quarter and guide to a relatively in-line March quarter, thanks to improving iPhone production into year-end and modest Services outperformance, Huberty said in a note. Since hitting a low on Oct. 4, Apple’s shares are up 19%, suggesting the December quarter upside is largely priced in, she added.

The analyst models December quarter revenues of $122.3 billion, a 41.9% gross margin and $1.97 per share in earnings. Apple’s management will likely shed light on its active device and iPhone installed base, the analyst said.

Among products, Apple may have shipped 83 million units of iPhones, 7.6 million units of Macs and 14.9 million units of iPads, Huberty said. The analyst estimates total product revenues of $103.1 billion, which is above the consensus estimate of $100.3 billion.

Services revenue is likely to come in at $19.2 billion, also above the consensus estimate of $18.6 billion, Huberty said. The upside is due to stronger-than-expected App Store performance and Apple’s Licensing & Other segment, she added.

Given the sustained presence of COVID-19, management is unlikely to offer a revenue guidance range for the March quarter and instead will likely provide commentary on segment growth trends, she noted.

Related Link: Apple Becomes First Company To Top $3 Trillion Market Cap; Analyst Says Rally Has Further Legs

Apple shares have underperformed thus far in January after December’s outperformance, the analyst said. Apple is expected to release the iPhone SE3 in April/May this year, the iPhone 14 in Fall 2022 and a mixed reality headset in 2023, Huberty noted.

Morgan Stanley said it would be a buyer on any weakness post-earnings, as it views Apple as a more “defensive/quality outperformer” in challenging markets. The company’s 1.65 billion+ installed base with high loyalty/retention rates, underweight institutional positioning, along with strong capital returns and the tendency for it to outperform ahead of product cycles make the firm positive on Apple stock, Morgan Stanley noted.

AAPL Price Action: Apple shares were down 2.10% to $162.41 at market close Friday.

Original Article: benzinga.com

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Bitcoin May Be Plunging Hard, but Look Who’s Buying the Dip

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The sell-off seen in the crypto space is continuing into the weekend, and Bitcoin (CRYPTO: BTC), the apex crypto, is no exception. Bitcoin-backer and El Salvador President Nayib Bukele, unsurprisingly, is seeing the weakness as a buying opportunity.

What Happened: Bukele said in a late Friday tweet that the country has purchased an additional 410 Bitcoins for $15 million, the nation now holds over 1,500 BTC. The president also suggested that some current sellers are liquidating at throwaway prices.

The tweet was in reply to his own Jan. 14 tweet, in which Bukele indicated that he might have missed the dip at the time.

The tweet elicited mixed responses. One Twitter user said Bukele wasted over $36,500 per Bitcoin and suggested that if the president wants to make bad bets on Bitcoin, he should be doing so with his own money. He challenged Bukele to disclose his personal Bitcoin holdings.

Meanwhile, another user supported the Bitcoin purchase and said the president is seeing the big picture, while others don’t understand Bitcoin is a long-term asset.

Related Link: Bitcoin Slips Below Crucial $40K Level, Taking Ethereum, Dogecoin Down With It: US Treasuries, Russia, Outflows And More That’s Weighing

Why It’s Important: After seeing a downtrend since hitting a high in early November, Bitcoin has come under further pressure in the new year. Since the start of the year, the apex currency has lost over 20%, implying it is sinking further into bear market territory.

El Salvador has the distinction of being the first country to adopt Bitcoin as legal tender, alongside the U.S. dollar, on Sep. 7, 2021.

At the time, Bukele reasoned the move would spur investment in the country and come in handy for 70% of its citizens, who don’t have access to traditional financial services. The country has also made plans to build a Bitcoin city, financing the construction by the issuance of a $1 billion Bitcoin Bond.

BTC’s trajectory in the near- to midterm will determine the success of the country’s Bitcoin strategy and whether Bukele will be vindicated. At last check, Bitcoin was seen down 7.56% in the past 24 hours to $35,486.19.

Related Link: How to Buy Bitcoin

Photo: Courtesy Blockzeit CH on Flickr

Source: benzinga.com

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