Option chain shows key data for Cannara Biotech's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for Cannara Biotech.

Cannara Biotech (OTC:LOVFF) Stock, Option Chain

Cannara Biotech Inc is a vertically integrated producer of premium-grade cannabis and cannabis-derivative products for Canadian markets. The company owns two mega Quebec-based facilities. The company operates in in two segments; Indoor cannabis operations segment which includes the cultivation, processing and sale of dried cannabis and cannabis derivatives for the Canadian market and the Real estate operations segment related to the Farnham and Valleyfield building. Majority of the revenue for the company is generated from its Cannabis operations segment. .

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Markets

Analyst Ratings

CANNABIS WHEATON INCOME by Cannabis Wheaton Income Corp.

CBWTF

CRON

DBCCF

LOVFF

TLRY

Amid this slowdown, certain products capture consumer interest, even as prices stabilize and competition intensifies.

Canada&#39;s Cannabis Market Goes Cold, Pot Prices Hit Bottom: Why Top Producers Are Losing Ground

cannabis money (bulkbuddy, PublicDomainPictures by Pixabay)(29)

Earnings

LOVE

TSXV:LOVE

Vertically integrated cannabis company Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB0) announced on Tuesday its fiscal third quarter 2024 financial and operating results for the three and nine-month periods ended May 31, 2024.  Zohar Krivorot, president and CEO of Cannara, praised the company&#39;s &#34;strong performance,&#34; during the period, with net revenues reaching CA$19.5 million ($14.2 million) during the quarter, representing a 22.6% year-over-year increase. &#34;Historically, our sales growth has been driven by great customer loyalty and strong demand for our products, amplified by organic word-of-mouth promotion,&#34; Krivorot explained. &#34;However, as indicated by our flat quarter-to-quarter results, this can only take us so far. To continue our expansion across the country, we have begun enhancing our sales force and infrastructure.&#34;

Cannara Biotech Reports 6% YoY Drop In Q3 Gross Profit, 22% Revenue Increase As It Enhances Sales Force And Infrastructure

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In a recent report, Pablo Zuanic of Zuanic &amp; Associates analyzed trends in Canada&#39;s recreational cannabis market through May 2024.

The report highlights a deceleration in market growth and notable shifts in sales dynamics among leading licensed producers (LPs).

Cannabis Slowdown In Canada: Analyst Spotlights What Still Sells And Where The Money Is Going

CANNARA BIOTECH INC by Cannara Biotech Inc.

Cannara Biotech Inc

As the U.S. dollar scaled a fresh 52-week high on Friday morning at 108.071 level, former Goldman Sachs FX strategist and senior fellow at Brookings Institution, Robin Brooks said in an X (formerly Twitter) post that, &#8220;Markets initially got this wrong, driving stocks up sharply right after Nov. 5.&#8221;
He added that &#8220;the prospect of tariffs isn&#8217;t obviously good for equities, while it&#8217;s clearly good for the Dollar. More Dollar strength is coming.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Dollar (lhs) is now clearly outperforming S&amp;P 500 (rhs). Markets initially got this wrong, driving stocks up sharply right after Nov. 5. But the prospect of tariffs isn&#39;t obviously good for equities, while it&#39;s clearly good for the Dollar. More Dollar strength is coming&#8230; <a href="https://t.co/GEZr0IaDh8">pic.twitter.com/GEZr0IaDh8</a>
&mdash; Robin Brooks (@robin_j_brooks) <a href="https://twitter.com/robin_j_brooks/status/1859894280149717359?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
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Also read: <a href="https://www.benzinga.com/24/11/42088394/economist-gordon-johnson-slams-federal-reserve-for-asset-owner-centric-policies-says-fed-needs-to-focus-on-the-real-economy-over-stock-markets" target="_blank" rel="noreferrer noopener">Gordon Johnson Slams Federal Reserve For Asset-Owner Centric Policies, Says Jerome Powell Needs To Focus On ‘Real Economy': ‘…The Stock Market Will Be Fine'</a>
What Happened: A chart shared by Brooks compared the S&amp;P 500 Index and the Dollar Index during President-elect Donald Trump&#8217;s victory in 2016 and 2024. Measuring the performance of both indices from the day of the election on Nov. 5, the Dollar Index has risen by approximately 3.5%, outperforming the S&amp;P 500 Index, which advanced 2.9%.
Why It Matters: An <a href="https://www.benzinga.com/24/11/41939162/us-treasuries-edge-up-as-trumps-proposed-policies-possible-rate-cut-may-rekindle-inflation-fears-all-eyes-on-federal-reserves-next-steps">increase in tariffs</a> reduces the demand for imported goods and lifts domestic prices above the free trade price, gradually stoking inflation. This results in monetary tightening affecting the equities in the long run.
However, higher tariffs are positive for the domestic currency as its supply decreases and more money flows into the economy.
What Are Other Analysts Saying: Now that the Dollar Index has surpassed its previous 52-week high of 107.07, &#8220;a break of it may let <a href="https://www.benzinga.com/24/11/42103600/us-dollar-may-test-10860-level-as-geopolitical-tensions-cautious-fed-rhetoric-and-solid-us-economic-data-may-push-the-greenback-higher-says-expert">it test 108.60 </a>while 105.10 acting as a support,&#8221; said Kunal Sodhani, vice president of the global trading center at Shinhan Bank.
According to him, &#8220;the ongoing geopolitical tensions in the Middle East combined with the strong U.S. economic data and the Federal Reserve's cautious rhetoric on interest rate cuts, may push the U.S. Dollar to new highs&#8221;
As of Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) had gained 25.60% year-to-date, while the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) saw a 25.43% increase, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. Despite these strong returns, both ETFs were slightly down in pre-market trading on Friday.
Meanwhile, the <a href="https://www.benzinga.com/24/11/42133364/us-stocks-on-edge-but-likely-to-end-the-week-in-the-green-trumps-treasury-pick-in-focus-expert-says-case-for-fed-pause-in-december-getting-stronger">futures show a decline across major indices</a>: Nasdaq 100 down 0.51%, S&amp;P 500 down 0.40%, Dow Jones down 0.29%, and R2K down 0.08%.
Read next: <a href="https://www.benzinga.com/24/11/42103600/us-dollar-may-test-10860-level-as-geopolitical-tensions-cautious-fed-rhetoric-and-solid-us-economic-data-may-push-the-greenback-higher-says-expert">Dollar Upside On The Cards Amid Geopolitical Tensions, Cautious Fed And Solid US Economic Data, Says Expert</a>
Image via Wikimedia Commons

Equities

Macro Economic Events

Forex

Economics

Markets Misread Trump Win, Says Ex-Goldman Sachs Analyst: 'Prospects Of Tariffs Not Good For Equities'

Needham analyst Laura Martin downgrades Innovid (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTV#NYSE">CTV</a>) from Buy to Hold and maintains the price target from $3 to $3.

Downgrades

Price Target

Needham Downgrades Innovid to Hold, Maintains Price Target to $3

Financial guidance and long-term targets The macro and microeconomic environment in which Global Blue operates remains highly favorable. The travel industry is experiencing positive trends, particularly in the high-end segment, and Global Blue has made significant progress in implementing strategic initiatives to further penetrate the market. In parallel, Global Blue has continued to outperform in the luxury market, driven by its unique exposure to affluent and high-net-worth international shoppers. That said, considering the recent luxury market slowdown and taking into account the Group's decision to accelerate €5 million of investments (fixed costs) in future growth initiatives (expansion into new countries, adaptation of Japan's business model and Hospitality Gateway), we have adapted our FY24/25 Adjusted EBITDA guidance to €185 million - $205 million.
Long-term targets include 8-12% revenue growth, &gt;50% drop-through, and a net leverage ratio of &lt;2.5x.

Global Blue Expects FY24/25 Adj EBITDA Of €185M-€205M (Prior More Than €200M)

Needham analyst Mike Cikos reiterates N-able (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NABL#NYSE">NABL</a>) with a Buy and maintains $16.5 price target.

Reiteration

NABL

Needham Reiterates Buy on N-able, Maintains $16.5 Price Target

Earnings Beats

Global Blue Gr Holding Q2 Sales €132.000M Beat €131.250M Estimate

Ahead of the potential market correction,&nbsp;Brian Arcese&nbsp;from&nbsp;Foord Asset Management&nbsp;has highlighted concerns over the U.S. economic growth and corporate earnings. These factors could trigger a correction if they continue to slow down.
What Happened: Arcese warned that a market correction could occur if U.S. GDP or earnings growth slows. Arcese noted that the S&amp;P 500 has&nbsp;been &#8220;expensive for quite a&nbsp;while,&#8221; with a price-to-earnings ratio exceeding 27, CNBC <a href="https://www.cnbc.com/2024/11/22/sp-correction-could-happen-if-gdp-or-earnings-growth-slows-says-asset-manager.html">reported</a>&nbsp;on Friday.
"We do think that a correction would be healthy, but you will need some type of catalyst for that correction to take place,&#8221; he said, highlighting two potential catalysts for a correction: slowing economic growth and inflation increases. 
U.S. GDP growth was less than anticipated in the third quarter, and&nbsp;inflation rose to 2.6% in&nbsp;October, as per recent data. He emphasized that high corporate earnings expectations, particularly outside IT and communication services, could also trigger a correction if growth slows.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42079585/meta-google-and-microsoft-bet-big-on-ai-with-skyrocketing-capex-budgets-but-jensen-huangs-nvidia-poised-to-be-the-biggest-winner-says-analyst-only-game-in-town-with-1-trillion-of-ai-capex?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dan Ives Expects &#8216;Drop The Mic Performance&#8217; Tomorrow From Nvidia: Here&#8217;s Why</a>
Arcese remarked on the unusual combination of factors like GDP growth, earnings growth, and&nbsp;falling inflation and interest rates, which he described as rare. He noted that while utilities are more expensive than before, they remain less costly than the broader market, with growth driven by increased electricity demand from data centers and AI advancements.
Why It Matters: The concerns raised by Arcese align with recent warnings from other financial experts.&nbsp;David Einhorn, founder of Greenlight Capital<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42087680/billionaire-investor-david-einhorn-calls-it-most-expensive-market-of-all-time-as-sp-500-gains-4-since-trumps-win-really-really-pricey">, recently labeled the current market</a> as &#8220;the most expensive of all time,&#8221; citing the high Shiller cyclically adjusted price-to-earnings ratio.
Similarly,&nbsp;Stifel&#8217;s&nbsp;Barry Bannister predicted a <a href="https://www.benzinga.com/markets/equities/24/09/40974512/stifel-warns-of-12-market-drop-by-end-of-2024-as-s-p-500-faces-high-valuations-and-speculative-r">12% market drop</a> by the end of 2024, driven by high valuations and speculative risks. The S&amp;P 500&#8217;s price-to-earnings multiple is nearing historic highs, reminiscent of previous market peaks.
Despite these concerns,&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42024472/goldman-sachs-us-to-dominate-2025-growth-with-2-5-gdp-boost-euro-area-will-struggle">Goldman Sachs&nbsp;forecasts </a>strong U.S. economic growth in 2025, with a 2.5% GDP boost, suggesting potential resilience in the face of current market challenges.
Price Action: As of Friday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) that tracks the S&amp;P 500 closely witnessed a 25.60% increase in its year-to-date (YTD) returns while Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) saw a hike of 25.43%. However, during pre-market hours on Friday, both the ETFs were trading slightly lower.
On Friday, <a href="https://www.benzinga.com/24/11/42133364/us-stocks-on-edge-but-likely-to-end-the-week-in-the-green-trumps-treasury-pick-in-focus-expert-says-case-for-fed-pause-in-december-getting-stronger">futures show a decline across major indices</a>: Nasdaq 100 down 0.51%, S&amp;P 500 down 0.40%, Dow Jones down 0.29%, and R2K down 0.08%.
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42082077/if-you-bought-bitcoin-at-387-a-decade-ago-you-would-now-have-more-than-2x-the-average-us-retirement-savings?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Bought Bitcoin At $387 A Decade Ago, You Would Now Have More Than 2X The Average US Retirement Savings</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Potential 'Healthy Correction' For An 'Expensive' Market Looms As US Economic Growth And Earnings Slow, Says Asset Manager: S&P 500, Nasdaq Futures Trade Lower In Premarket

KBR Inks Pact With AMUFERT For The Development Of A New Ammonia Plant In Soyo, Angola

The company said its subsidiary Beneficient Company Holdings, L.P. consummated a previously announced transaction pursuant to which approximately $35 million of its preferred equity was redesignated as non-redeemable, resulting in the addition of approximately $35 million of permanent equity on its balance sheet.&nbsp;

BENF

Beneficient Says It Believes It Now Has Stockholders' Equity Of At Least $2.5M, The Amount Required To Regain Compliance With Nasdaq's Minimum Stockholders' Equity Requirement

SCLX

Scilex Holding Company Announces Receipt Of Notice From Nasdaq For Its Failure To File Its Quarterly Report On Form 10-Q For The Quarter Ended September 30

Needham analyst Tom Nikic initiates coverage on Skechers USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) with a Hold rating.

Initiation

Needham Initiates Coverage On Skechers USA with Hold Rating

This milestone follows Tri Pointe Homes' entry into the greater Orlando market, a strategic expansion driven by the area's robust growth and demand for high-quality housing options.

Tri Pointe Homes Says It Closed On First Land Acquisition In The Greater Orlando Market, Marking The Homebuilder's Debut In Minneola's Sugarloaf Mountain Community

Needham analyst Tom Nikic initiates coverage on Lululemon Athletica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) with a Hold rating.

LULU

Needham Initiates Coverage On Lululemon Athletica with Hold Rating

Needham analyst Tom Nikic initiates coverage on Crocs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>) with a Buy rating and announces Price Target of $116.

CROX

Needham Initiates Coverage On Crocs with Buy Rating, Announces Price Target of $116

Needham analyst Tom Nikic initiates coverage on Steven Madden (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHOO#NASDAQ">SHOO</a>) with a Hold rating.

SHOO

Needham Initiates Coverage On Steven Madden with Hold Rating

U.S. stocks could open on a negative note on Friday after futures showed tentativeness on Friday. Investors turned their focus to cyclical stocks and themes, moving on from their <a href="https://www.benzinga.com/24/11/42058223/us-stocks-likely-to-open-in-red-as-geopolitical-tension-weigh-on-investor-sentiment-wharton-economist-says-market-trajectory-will-heavily-depend-on-trumps-tariff-plans">focus on the Trump trade</a> after the election results.
Futures of the three major indices were mixed, with the Nasdaq heading lower after AI giant Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) posted its highly-anticipated third-quarter results.
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<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.51%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.40%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.29%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.08%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged lower by 0.34% to $591.68 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 0.39% to $503.03, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks ended Thursday in the green, with the Dow Jones surging by over 450 points, while the tech-heavy Nasdaq registered marginal gains.
Crude oil futures continued on their upward trajectory amid rising tensions between Russia and Ukraine.
Treasury yields eased marginally on mixed data and the declining probability of the Federal Open Market Committee (FOMC) cutting interest rates in December.
On the economic data front, U.S. existing home sales gained 3.5% from the previous month to an annualized rate of 3.96 million in October. The Philadelphia Fed Manufacturing Index fell to -5.5 in November from 10.3 in the previous month, and compared to market estimates of 8.
Initial jobless claims declined by 6,000 from the previous week to 213,000 in the week ending Nov. 16.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, financials, and consumer staples stocks recording the biggest gains on Thursday.
However, consumer discretionary and communication services stocks bucked the overall market trend, closing the session lower.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.03%</td>
<td>18,972.42</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.53%</td>
<td>5,948.71</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>1.06%</td>
<td>43,870.35</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.65%</td>
<td>2,364.02</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Powell's relatively hawkish tone has investors cautious in the markets. With the Trump trade losing steam, the focus is now on the President-elect's Treasury pick.
"In focus currently is President-elect Trump's pick for the influential post of US Treasury Secretary. Given the large US budget deficit, investors will probably want to see a safe pair of hands being chosen," ING analysts said in a note.
With the next rate cut now a coin toss, the U.S. dollar could see a correction. According to ING analyst Francesco Pesole, the dollar is "testing the limit" of its longs and traders should exercise caution for the time being.
"Powell seemed to put greater emphasis on the strength of the economy&nbsp;and how that allows the central bank to approach the upcoming policy decisions ‘carefully'."
CME Group's FedWatch tool <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">reflected</a> the fall in sentiment for another rate cut next month, with its probability declining to 59.6% from 72.2%.
&#8220;The case for a Fed pause in December is getting stronger and Fed officials are communicating that they are open to it going into the next meeting,&#8221; Kathy Jones, chief fixed income strategist at Schwab, said in a recent note.
&#8220;It will come down to employment and inflation data.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
Friday's major economic updates include:
<ul>
<li>S&amp;P U.S. Services and Manufacturing Purchasing Manager's Index will be released at 9:45 a.m. ET.</li>
<li>Consumer sentiment data will be released at 10 a.m. ET.</li>
<li>Fed Gov. Michelle Bowman will speak at 6:15 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>The Gap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) stock surged 15% in premarket trading after the <a href="https://www.benzinga.com/news/earnings/24/11/42125007/gap-stock-soars-on-better-than-expected-q3-results-raised-fy-guidance-details">retailer raised its annual target</a> with a "strong" outlook for the holiday season.</li>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock surged over 2% in premarket trading on Friday as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/24/11/42130693/bitcoins-path-to-100k-inevitable-but-leverage-to-the-gills-warns-mike-novogratz-predicts-80k-correction-ahead">inched closer to the $100,000 mark</a>. Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) stock was also up over 0.5%.</li>
<li>Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) stock <a href="https://www.benzinga.com/24/11/42132644/reddit-falls-7-in-afterhours-as-advance-plans-stake-sale-technicals-show-strong-support-but-selling-pressure-persists-at-overbought-levels">fell over 7% in premarket trading</a> after the social media company amid Advance's stake sale announcement.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) stock fell over 4.7% on Thursday after the U.S. Department of Justice (DOJ) pushed forward with its demands for <a href="https://www.benzinga.com/24/11/42131274/why-googles-chrome-battle-isnt-just-about-search-gene-munster-calls-it-a-tough-day-for-big-tech-on-the-regulatory-front">Google to divest</a> the Chrome web browser.</li>
<li>Investors are awaiting earnings results from Destination XL Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXLG#NASDAQ">DXLG</a>) and Global Blue Group Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GB#NYSE">GB</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose in the early New York session, surging by 0.61% to hover around $70.54 per barrel.
The 10-year Treasury note yield eased to 4.396%.
Most of the major Asian markets ended in the green on Friday, but European markets were mixed in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42130693/bitcoins-path-to-100k-inevitable-but-leverage-to-the-gills-warns-mike-novogratz-predicts-80k-correction-ahead">Bitcoin&#8217;s Path To $100K &#8216;Inevitable&#8217; But Crypto Community Is &#8216;Leveraged To The Gills,&#8217; Warns Galaxy&#8217;s Mike Novogratz, Predicts Correction To $80K Ahead</a></li>
</ul>
Photo courtesy: Wikimedia

Futures

Federal Reserve

Pre-Market Outlook

Movers

Trading Ideas

$BTC

DXLG

GOOG

GOOGL

HOOD

MSTR

NVDA

RDDT

US Stocks Set To Open Lower On Friday As Investors Eye Cyclical Stocks: Trump's Treasury Pick In Focus, Expert Says Case For Fed Pause In December 'Getting Stronger'

Needham analyst Tom Nikic initiates coverage on Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) with a Buy rating and announces Price Target of $218.

DECK

Needham Initiates Coverage On Deckers Outdoor with Buy Rating, Announces Price Target of $218

Shares of Elastic N.V (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) rose sharply in today's pre-market trading after the company reported better-than-expected second-quarter financial results and issued FY25 guidance <a href="https://www.benzinga.com/quote/ESTC/news">above estimates</a>.
Elastic reported quarterly earnings of 59 cents per share which beat the analyst consensus estimate of 38 cents per share. The company reported quarterly sales of $365.361 million which beat the analyst consensus estimate of $355.900 million.
Elastic shares jumped 29.1% to $121.46 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) gained 67.1% to $0.9855 in pre-market trading after the company announced an agreement with the US HHS department for an extension towards its cooperative research and development.</li>
<li>Wellchange Holdings Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WCT#NASDAQ">WCT</a>) rose 50.4% to $1.88 in pre-market trading after dipping 62% on Thursday.</li>
<li>Beneficient  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) gained 30.7% to $1.15 in pre-market trading after gaining around 7% on Thursday.</li>
<li>SKK Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKK#NASDAQ">SKK</a>) gained 25.4% to $1.38 in pre-market trading after declining around 75% on Wednesday.</li>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) gained 19.4% to $12.98 in pre-market trading.</li>
<li>The Gap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) gained 14.9% to $25.33 in pre-market trading after reporting better-than-expected third-quarter results.</li>
<li>Global Blue Group Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GB#NYSE">GB</a>) gained 10.4% to $6.90 in pre-market trading.</li>
<li>Kairos Pharma, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KAPA#NYSE">KAPA</a>) climbed 8.7% to $1.63 in pre-market trading.</li>
<li>Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) gained 7% to $153.01 in pre-market trading after the company reported better-than-expected third-quarter EPS results..</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Knightscope, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSCP#NASDAQ">KSCP</a>) shares tumbled 41.8% to $10.64 in pre-market trading after the company announced the pricing of $12.1 million public offering.</li>
<li>Autonomix Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) fell 33.3% to $9.01 in pre-market trading.</li>
<li>Cemtrex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETX#NASDAQ">CETX</a>) shares fell 27.2% to $0.1430 in pre-market trading after the company announced its board approved a 1-for-35 reverse stock split.</li>
<li>Procaps Group S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROC#NASDAQ">PROC</a>) declined 18.7% to $0.90 in pre-market trading as the company said it faced Nasdaq delisting threat due to Form 20-F filing delay.</li>
<li>Carter Bankshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARE#NASDAQ">CARE</a>) shares fell 10.6% to $16.86 in pre-market trading.</li>
<li>Real Messenger Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMSG#NASDAQ">RMSG</a>) dipped 16.2% to $3.51 in pre-market trading after jumping over 10% on Thursday.</li>
<li>Aptose Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APTO#NASDAQ">APTO</a>) fell 13.9% to $0.21 in pre-market trading after dipping more than 10% on Thursday.</li>
<li>Envoy Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COCH#NASDAQ">COCH</a>) shares dipped 12.7% to $1.92 in pre-market trading.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) fell 7.3% to $146.50 in pre-market trading. Reddit's shareholder, Advance Magazine Publishers Inc. plans to sell as much as $1.2 billion of the company's stake, reported Bloomberg on Friday morning. The company is said to be offering 7.8 million shares in between the range of $145.38-$148.54 each.</li>
<li>Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) fell 5.7% to $639.95 in today's pre-market trading. Intuit reported upbeat results for its first-quarter results, but issued weak forecast for the current quarter.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42131399/dow-surges-over-450-points-investor-sentiment-improves-fear-greed-index-moves-to-greed-zone">Dow Surges Over 450 Points As Nvidia Climbs Post-Earnings, Google, Amazon Slip: Fear Index Shifts To &#8216;Greed&#8217; Zone</a></li>
</ul>

AMIX

APTO

CARE

CETX

Envoy Medical, Inc. - Class A Common Stock

COCH

ESTC

INTU

KAPA

KSCP

PROC

RMSG

ROST

VRPX

XCUR

Why Elastic Shares Are Trading Higher By 29%; Here Are 20 Stocks Moving Premarket

Needham analyst Tom Nikic initiates coverage on Foot Locker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) with a Buy rating and announces Price Target of $27.

Needham Initiates Coverage On Foot Locker with Buy Rating, Announces Price Target of $27

Needham analyst Mike Matson downgrades TransMedics Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) from Buy to Hold and maintains the price target from $109 to $109.

TMDX

Needham Downgrades TransMedics Gr to Hold, Maintains Price Target to $109

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Needham Initiates Coverage On Nike with Buy Rating, Announces Price Target of $84

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Given that cannabis legalization is considered a growth trend, you may assume that there are few (if any) undervalued <a href="https://investorplace.com/industries/healthcare/cannabis/">cannabis stocks</a>. However, whether we&rsquo;re talking about undervalued in the traditional sense of the term, or undervalued using other metrics, there are plenty of names in the space that fit within this category.



There are companies either directly in the cannabis space, or in adjacent industries, that trade at low price-to-earnings multiples, or at a discount to book value. In addition, there are cannabis stocks to buy based upon the fact that they are undervalued relative to future potential.



What makes these types of cannabis stocks appealing is the fact that, given their under-appreciation by the market, small positive developments could drive big gains, given the potential for shares to surge both on improving fundamentals and price discovery.



This could especially prove to be the case if and when the U.S. federal marijuana laws are relaxed/reformed. With this in mind, let&rsquo;s dive in and take a look at the seven most undervalued cannabis stocks currently out there.



<h2>Green Thumb Industries (GTBIF)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-1-1-300x169.jpg" alt="cannabis stocks"><div>Source: Shutterstock</div></div>


Green Thumb Industries (OTCMKTS:<a href="https://investorplace.com/stock-quotes/gtbif-stock-quote/">GTBIF</a>) is a leading multi-state operator. MSOs are companies that own and operate regulated cannabis operations across multiple U.S. states. On a P/E and price-to-book basis, this cannabis purveyor does not appear undervalued.



GTBIF stock currently has a forward earnings multiple of 55.8, and trades at a 52% premium to book value. However, as analysts at Zuanic &amp; Associates (a cannabis stock research firm) argued last month, this <a href="https://seekingalpha.com/news/4030722-zuanic-bullish-on-cannabis-stocks-verano-marimed-planet-13-green-thumb">&ldquo;blue chip among the larger MSOs,&rdquo;</a> strong growth potential, irrespective of whenever federal marijuana law reforms ever happen.



Green Thumb shares have performed solidly in 2023, surging by nearly 20%. A <a href="https://www.marketwatch.com/story/curaleaf-and-canopy-growth-miss-q3-analyst-marks-while-ascend-wellness-beats-forecasts-d64ecb04">revenue and earning beat</a> last quarter may suggest strong operating performance will continue in the quarters ahead. The company&rsquo;s existing large presence would also likely give it a big first mover advantage if cannabis became fully legal on the U.S. federal level. 



<h2>Innovative Industrial Properties (IIPR)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-7-300x169.jpg" alt="A close-up shot of a marijuana growhouse. cannabis trends"><div>Source: Shutterstock</div></div>


Innovative Industrial Properties (NYSE:<a href="https://investorplace.com/stock-quotes/iipr-stock-quote/">IIPR</a>) is not directly in the cannabis business. Rather, this real estate investment trust owns and leases out commercial property to state-licensed cannabis operators.



Using traditional metrics, IIPR stock is one of the undervalued cannabis stocks. This REIT trades at a price-to-funds from operations ratio of just 10.7, a discounted multiple compared to other industrial REITs. Admittedly, industry risks help to explain this valuation discrepancy.



However, if the Federal Reserve pivots on interest rates next year, IIPR, like other REITs, is likely to benefit from a re-expansion of its multiple. Revenue (<a href="https://www.businesswire.com/news/home/20231101542273/en/Innovative-Industrial-Properties-Reports-Third-Quarter-2023-Results">up nearly 10% last quarter</a>) and FFO (up 7.5% last quarter) also continue to grow at a steady clip. Potential upside from growth and lower interest rates, coupled with IIPR&rsquo;s 8.13% dividend, could be the recipe for some strong long-term total returns.



<h2>Cannara Biotech (LOVFF)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-5-300x169.jpg" alt="aurora stock"><div>Source: Shutterstock</div></div>


Cannara Biotech (OTCMKTS:<a href="https://investorplace.com/stock-quotes/lovff-stock-quote/">LOVFF</a>) is a cannabis stock that I&rsquo;ve previously noted as being <a href="https://investorplace.com/2023/08/7-smoking-hot-420-stocks-to-buy-in-2023/">undervalued and under-the-radar</a>. Shares in this Canada-based vertically-integrated cannabis firm trade for only 11.4 times trailing twelve month earnings. 



LOVFF stock sports this low multiple, although the company&rsquo;s revenue increased by <a href="https://www.otcmarkets.com/otcapi/company/financial-report/389000/content">93%</a> last fiscal year (ending August 2023), with net income surging threefold during this same time frame. That&rsquo;s not to say, of course, that the current fiscal year will bring similar growth.



But even if Cannara&rsquo;s growth decelerates from here, greater awareness of this low-priced pot stock could result in outsized gains for shares. Keep in mind that Cannara is relatively less liquid than other names in the space. That may present challenges if you&rsquo;re looking to enter/exit a position. However, if you are aware of the risks, it&rsquo;s one of the top cannabis stocks to consider.



<h2>WM Technology (MAPS)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-8-300x169.jpg" alt="Forget a 1-for-12 Split, Aurora Stock May as Well Go for 200"><div>Source: Shutterstock</div></div>


WM Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/maps-stock-quote/">MAPS</a>) is one of the more unique cannabis stocks. This company&rsquo;s shares make it a SaaS stock and a cannabis stock play. 



After experiencing a big run-up in growth from the late-2010s through 2022, WM Technology has experienced a bit of a growth slump.



Yet despite entering a near-term rough patch, as InvestorPlace&rsquo;s Jeremy Flint pointed out in October, long-term growth potential with MAPS stock <a href="https://investorplace.com/2023/10/the-diy-cannabis-portfolio-7-stocks-from-seed-to-stem/">remains high</a>. According to Flint, the cannabis industry is expected to keep growing at a 25% annualized clip through the start of the next decade. 



Such growth could be even stronger if federal cannabis law reforms arrive far sooner than currently anticipated. That&rsquo;s not all. <a href="https://seekingalpha.com/article/4649517-wm-technology-inc-maps-q3-2023-earnings-call-transcript">Operational strategy changes</a> discussed on WM&rsquo;s most recent earnings conference call could result in better-than-expected results in the quarters ahead. 



<h2>Marimed (MRMD)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/Marijuana1600-300x169.jpg" alt="Image of marijuana alongside three joints"><div>Source: Shutterstock</div></div>


Marimed (OTCMKTS:<a href="https://investorplace.com/stock-quotes/mrmd-stock-quote/">MRMD</a>) is another cannabis stock that I&rsquo;ve previously noted as being undervalued in the traditional sense. However, since last discussing this particular MSO, the company has gone from reporting positive earnings to reporting net quarterly losses.



So, why do I consider it still one of the undervalued names in the space? As Zuanic &amp; Associates noted in the aforementioned research report, Marimed&rsquo;s swing to quarterly losses has to do with its ramping up of growth-related capital expenditures.



By keeping its foot on the growth gas pedal, Marimed could quickly scale into one of the top MSOs. Once the company is ready to take its foot off the pedal, this could result in a dramatic increase in profits. This in turn could result in a big jump for MRMD shares. As also noted before, Marimed could be <a href="https://investorplace.com/2023/06/7-otc-stocks-to-buy-with-boatloads-of-potential/">an ideal acquisition candidate</a>, whenever federal cannabis laws finally change.



<h2>Newlake Capital Partners (NLCP)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-9-300x169.jpg" alt="A close-up shot of hands holding a grinder with cannabis buds in the background representing aurora stock."><div>Source: Shutterstock</div></div>


Just like IIPR, Newlake Capital Partners (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nlcp-stock-quote/">NLCP</a>) is a cannabis REIT, owning and leasing out space to state-licensed cannabis producers. If IIPR is one of the undervalued cannabis stocks, one could say that Newlake is one of the deep value cannabis stocks.



Yes, NLCP stock trades at a discount, because of perceptions that it is a riskier cannabis REIT. However, as a Seeking Alpha commentator recently argued, this valuation discrepancy <a href="https://seekingalpha.com/article/4653246-newlake-capital-partners-one-safest-double-digit-dividend-reits">may more than cover the increased risks</a>.



Based on valuation metrics, it&rsquo;s easy to agree with this commentator&rsquo;s take. NLCP trades at a P/FFO ratio of 7.9, well below that of IIPR. This REIT also trades at a 30% discount to book value, and sports a double-digit dividend yield (11.22%). The reporting of &ldquo;less bad&rdquo; results, lower interest rates, and cannabis law reforms are all catalysts that could drive an eventual big comeback for NLCP.



<h2>Turning Point Brands (TPB)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-6-300x169.jpg" alt="cannabis stocks, With America Turning Green Things Only Can Get Better for Aurora Stock"><div>Source: Shutterstock</div></div>


Back in April, I called Turning Point Brands (NYSE:<a href="https://investorplace.com/stock-quotes/tpb-stock-quote/">TPB</a>) <a href="https://investorplace.com/2023/04/the-7-best-cannabis-stocks-to-buy-for-april-2023/">one of the top cannabis stocks</a>. Even as TPB has delivered a mixed price performance since then, I still consider it one of the cannabis stocks to buy. This is not a cannabis pure play.



Turning Point is primarily a tobacco company, with Stoker&rsquo;s smokeless tobacco its most prominent brand. However, as the U.S. distributor/marketer of Zig Zag rolling papers, it has high exposure (pun intended) to the cannabis sector. Zig Zag sales <a href="https://www.turningpointbrands.com/investor-relations/news/news-details/2023/Turning-Point-Brands-Announces-Third-Quarter-2023-Results-and-Closing-of-New-ABL-Facility/default.aspx">have entered a slump recently</a>, and the main play with TPB stock now has more to do with the continued growth of Stoker&rsquo;s.



Still, if Turning Points pulls off a turnaround of the Zig Zag segment, low-priced TPB (trading for just 8.8 times earnings) could surge substantially, thanks to both profitability growth and multiple expansion.



On the date of publication, Thomas Niel&nbsp;did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2023/12/the-7-most-undervalued-cannabis-stocks-to-buy-in-december/">The 7 Most Undervalued Cannabis Stocks to Buy in December</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 7 Most Undervalued Cannabis Stocks to Buy in December

Cannara Biotech, Inc. (TSE:LOVE) has released an update. Cannara Biotech Inc. has reported a significant increase in financial results for Q2 2024,...

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GTBIF

IIPR

MAPS

MRMD

NLCP

Contracts

Press Releases

Cannara Biotech Announces Engagement of Market Maker Services from Independent Trading Group ("ITG")

Cannara Biotech Announces Record-Breaking Q1 2024 Results: Continued Robust Growth and Market Expansion

Cannara Biotech Q1 Results: Revenue, Net Income And Market Share Up, Quarter Also Marks Company's First Export Sale

Cannara Biotech CFO Nicholas Sosiak: Unveiling Success Strategies and Future Plans

Cannara Biotech Reports Q2 2024 Financial Results

Cannara Biotech Reports Q3 2024 Financial Results

Cannara Biotech Achieves its Highest National Market Share of 3.2% in July 2024 and Announces Investor Webcast Scheduled for August 20, 2024

Cannara Biotech

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