Trading at merely 3.5 times sales and 1.1 times book value, it may be surprising that to see that Aphria's (NASDAQ:APHA) valuation is at rock bottom despite being the biggest marijuana company in Canada in terms of gross revenue. The company controls 14% of Canada's cannabis market share, which is 20% more than competitor Canopy Growth Corp (NYSE:CGC).
When you think about it, the cannabis plant is a pretty amazing specimen. Not only do these green leafy plants have the potential to boost creativity and productivity in an individual, but they also have some amazing medical uses for conditions ranging from Alzheimer’s Disease to eating disorders.
Cannabis stocks were mostly trading lower Wednesday and for good reason: a "blue wave" result from Tuesday's presidential election isn't going to transpire, CNBC's Jim Cramer said on "Squawk on the Street."
What Happened: Heading into Tuesday's election, a major Democratic victory across multiple branches of the government was considered to be a major catalyst for cannabis stocks.
"There was a belief that a blue wave would immediately mean that everybody can start smoking recreationally and drinking," Cramer said.
After years of legislative failures, New Jersey voters on Tuesday authorized the legal use of recreational marijuana in a year when supporters rallied around the disproportionate number of arrests for the drug in minority communities.
Arizona's ballot measure to legalize marijuana passed Tuesday with voters deciding to join 11 other states that have done so despite a conflict with federal law, according to The Associated Press.
These are challenging times for the cannabis industry — public company stock prices are sagging, unsold inventory is growing, and Cannabis 2.0 feels more like Cannabis 1.1.
Hackers exposed roughly 3.4 million user records, together with usernames, electronic mail addresses and IP addresses, of marijuana cultivators at GrowDiaries.com, a web-based neighborhood the place growers weblog about their crops and may promote seeds to different growers.
The safety breach occurred Sept. 22 and was reportedly found Oct. 10 by Volodymyr Diachenko, a database safety researcher.
