Cannabis stocks turn mixed but still offer a small patch of green in a sea of red – MarketWatch

Cannabis stocks turned mixed in afternoon trade Tuesday, but most of the bigger players remained higher, shrugging off the rout in the broader market as investors continued to sell off technology and internet stocks.

There was little news driving the gains, which come a week after the first crop of earnings from Canadian companies since cannabis was fully legalized for adult recreational use in October. The reports showed that companies have shipped far less than 1% of the cannabis the government has forecast Canadians will spend per quarter.

Read now: Canadian pot companies came up way short on sales expectations. So what happened?

Among the few new developments, ICC International Cannabis Corp. KNHBF, -2.54% which trades on the U.S. over-the-counter market as well as on the Canadian Securities Exchange, said it is acquiring Green Gene Research Inc., a company that tests and grows weed, as well as developing proprietary seeds and strains. ICC is issuing 10 million shares and pay a finders fee to fund the deal, which is expected to provide it with multiple revenue streams. ICC shares were down 6%.

Canopy Growth Corp. CGC, -1.86% WEED, -1.35%  was up 0.4%, but was off its early highs. Canopy is viewed as one of the stronger players in the new sector, thanks to a $4 billion investment from drinks giant Constellation Brands Inc. STZ, -1.38%

The company said Tuesday that its wholly-owned subsidiary Spectrum Cannabis has joined Cannabis Standard, a platform that aims to help patients create “patient-powered research” to show the clinical benefits of medical cannabis. The platform is run by Reformulary Group, a Canadian health care, science and technology company.

Read also: Here’s how to keep from falling victim to misleading marijuana-company headlines

Cronos Corp. CRON, -0.49% CRON, -0.82%  was up 3.6%. Tilray Inc. TLRY, -2.59%  was flat

Read More Here...

Posted in Casino Gambling Stocks News | Leave a comment

Five Cannabis Stocks to Consider for Long-Term Growth – Hacked

Here is a question worth taking a moment to consider.  Which would you rather own: one Bitcoin or 130 shares of Canopy Growth Corp (NYSE: CGC, $50)?  They are both about equal in value based on current prices. But what about next week, next month or as far out as maybe 2020?  

The point of the question is this: when it comes to speculative investing, how much room is there at any one time for two stars? In this case, we are talking crypto and cannabis. We all know how difficult this year has been for crypto. On the other hand the cannabis industry is hotter than ever, with new deals announced almost every day, and merger and acquisition activity at an all-time high.

Just in case you are wondering, the market cap of CGC alone is around $11.4 billion, which would rank fourth in asset value behind Bitcoin, Ether and Ripple.  Collectively, the 10 largest publicly traded cannabis stocks are valued at over $35 billion.

Viridian Capital Advisors estimates that cannabis investments have already surpassed $5 billion this year. There have been over $582 million in Initial Public Offerings and over $8 billion in mergers.  The point here is that cannabis is a headwind that offers a compelling alternative to crypto. Do we need to choose or will there be room for both?

Important Differences

On the surface, there are two fundamental differences between crypto and cannabis: government and mass acceptance.  In the crypto world overwhelming attention is on solving the technical impediments like scaling and security. These are key issues that must be resolved before any coin or token can be expected to serve as a widespread medium of exchange.

Cannabis, of course, suffers none of these limitations.  According to New Frontier Data, sales are expected to

Read More Here...

Posted in Casino Gambling Stocks News | Leave a comment

Cannabis stocks are a green spot in a sea of red after reversing early losses – MarketWatch

Cannabis stocks reversed their early losses Tuesday to trade mostly higher, shrugging off the rout in the broader market which was falling as investors continued to sell off technology and internet stocks. Canopy Growth Corp. CGC, -1.86% led the gainers, adding 2.9% in midmorning trade. Canopy is viewed as one of the stronger players in the new sector, thanks to a $4 billion investment from drinks giant Constellation Brands Inc. STZ, -1.38% Cronos Corp. CRON, -0.49% was up 3.1%. Tilray Inc. TLRY, -2.59% was up 1.8% and Aphria Inc. APHA, -1.85% was up 1.4%. Aurora Cannabis Inc. was up 2.1%, and Green Organic Dutchman Holdings was up 4.1%. The ETFMG Alternative Harvest ETF MJ, -2.03% was up 0.6% and the Horizons Mariujana Life Sciences ETF HMMJ, -1.98% was up 1%. The S&P 500 SPX, -1.82% was down 1.4% and the Dow Jones Industrial Average DJIA, -2.21% was down 1.7%.

Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.

Read More Here...

Posted in Casino Gambling Stocks News | Leave a comment

Las Vegas Escort Steals $66000 From Poker Pro – PokerTube

20 Nov

Poker players have often paid for massages at the Seminole Hard Rock Hotel & Casino, especially during play, but for one unlucky punter it turned out to be a very expensive shakedown rather than a rubdown, costing him $66,000!

As reported in the Sun Sentinel newspaper, the 52-year old man was approached by a woman at the casino elevators early this Tuesday morning – 30 year old Cassidy Reign Paris telling the unnamed gambler that he looked stressed, and offering him a massage.

What happened next probably won’t shock anyone; after the massage Paris “told him to take off his pants and they got in bed”, according to a police report, and after kissing the woman made the excuse of having a sore chest and went to the bathroom.

On hearing the hotel room door open and close, the unfortunate mark “got up to find himself alone, and discovered $10,000 in cash, $6,100 in poker chips and his $50,000 Patek Philippe watch were all gone”.

When the hotel CCTV was checked, scamming masseuse Paris was seen leaving the patron’s room and running towards the elevators, escaping through the casino into a red car parked in the casino garage.

Fortunately police were able to track the car’s Texas number plates to a rental company, and because it was fitted with a GPS device, the cops were able to trace it to a nearby motel – arresting Paris the same day.

After her arrest, ‘on suspicion of committing grand theft greater than $20,000 and up to $100,000’, Paris was given a $5000 bond the following day by Broward County Judge Kim Theresa Mollica, but was apparently still in jail this Friday past.

The incident sparked memories of the death of Matthew Hauge at the WSOP in 2016 – initial

Read More Here...

Posted in Casino Gambling Stocks News | Leave a comment

Malta Poker Festival: Dave Lappin on Brexit, Trump and Mrs Brown's Boys –

Lee Davy sits down with the wonderfully articulate and well-groomed Unibet Ambassador, Dave Lappin, to talk about politics, Twitter violence and a whole lot more.

Dave Lappin is a man who comes prepared.

Ever listened to The Chip Race?

The spit?

The polish?

That’s all Dave.

“Thanks for the questions,” says Unibet’s hairiest ambassador. “I’ve made some notes.

I always feel bad when an intended interviewee ‘makes some notes’, as I know as soon as this thing has teeth marks we will dart here and there like two flies trying to find the way out of my kitchen.

But the first question always gets asked and answered.

So here it is.

What does Dave Lappin think of the Malta Poker Festival?

“I think Yvonne {Montealegre} has done an amazing job,” says Lappin. “She’s a formidable businesswoman, and I know she’s worked tirelessly on the event, so I’m glad it’s been such a huge success. I hope that there is more collaboration than competition between the organisers and casinos next year to make the Malta Poker Festival and Battle of Malta even bigger and better. I know Kat {Arnsby} at Redbet has done a lot of work bringing people here. She’s the best! I also think Yvonne is especially clued into the opportunities, synergies and crossovers. Although I’m not sure if it always works out. Yesterday a guy playing next to me won a pedicure! Hats off though, the opening ceremony each day is a work of art. She had put a lot of hard work into it, and I hope it pays off.

“There are a lot of women running what is a male-dominated game so it would be great to see some real growth in women’s participation. I know you interviewed Daiva {Byrne} this weekend and I have to

Read More Here...

Posted in Casino Gambling Stocks News | Leave a comment
« Older