Tag:

Marijuana Products

Curaleaf and Canopy Growth miss third-quarter analyst marks, while Green Thumb, Ascend Wellness and Trulieve beat forecasts

by callingemout November 10, 2023

Quarterly results from the U.S.’s largest cannabis company, Curaleaf Holdings Inc., and from Canada’s Canopy Growth Corp. missed analyst estimates, while shares of Trulieve Cannabis Corp., Green Thumb Industries Inc. and Ascend Wellness rose after beating forecasts.

Curaleaf
CURLF,
+0.99%
said its third-quarter net loss widened to $92.23 million, or 13 cents a share, from a loss of $51.39 million, or 8 cents a share, in the year-ago quarter. The company’s adjusted loss in the latest quarter was 9 cents a share, wider than the FactSet consensus estimate for a loss of 6 cents a share.

Curaleaf’s third-quarter revenue rose to $333.17 million from $324.64 million but missed the analyst estimate of $340.2 million.

One contributor to Curaleaf’s loss was its increased cost of goods sold, which rose to $183.12 million in the third quarter, from $158.12 million in the year-ago quarter.

On the plus side, the company also booked $33 million in free cash flow from continuing operations.

Curaleaf’s stock fell by 0.7% on Friday. The stock is down 29.7% in 2023, compared with a 13.5% drop by the AdvisorShares Pure U.S. Cannabis exchange-traded fund
MSOS
and a gain of 31.1% by the Nasdaq
COMP.

Canopy Growth Corp.
CGC,
-2.98%,
the Canadian cannabis company backed by Constellation Brands Inc.
STZ,
+0.22%,
reported a second-quarter loss of 31 cents a share, while analysts were looking for a loss of 11 cents a share, according to FactSet data.

The company’s revenue of $50.6 million also missed the analyst estimate of $53.5 million.

On the plus side, Canopy Growth said its Canadian cannabis business booked its third straight quarter of organic revenue growth while “significantly” cutting costs.

Canopy Growth’s stock was down by 4.9%. The company’s share price is now down 78.5% in 2023.

Ascend Wellness
AAWH,
+0.90%
said its third-quarter loss of 5 cents a share beat the consensus estimate for a loss of 8 cents a share.

Revenue rose by 27% to $141.3 million, ahead of the consensus estimate of $135.2 million.

Ascend Wellness Executive Chair Abner Kurtin said the results beat internal forecasts, as John Hartmann wrapped up his first full quarter as chief executive.

“We’ve been diligently optimizing operations and fortifying our team,” Hartmann said. “Early signs of results are encouraging, with a noteworthy 13% sequential surge in retail revenue, chiefly propelled by the successful launch of adult-use sales in Maryland.”

The company’s wholesale business grew 21% from the previous quarter, with growth in New Jersey, Illinois and Massachusetts, he said.

Ascend Wellness’s stock was up 1.8% on Friday.

In a busy week for cannabis earnings, Green Thumb Industries
GTBIF,
+2.59%
continued its run as one of the only profitable cannabis companies.

Green Thumb on Wednesday said its third-quarter profit increased to $10.51 million, or 5 cents a share, from $9.83 million, or 4 cents a share, in the year-ago quarter.

Third-quarter revenue of $275.4 million rose from $261.19 million in the year-ago quarter and was ahead of the analyst estimate of $257.3 million.

The company cited its business in Maryland for its strong performance. Its stock rose by 2.6% on Friday and is now up 10.2% for 2023.

Also on the rise was Trulieve
TCNNF,
+3.01%,
which rose 3.2%. On Thursday, the company said its third-quarter loss narrowed to $25 million, or 13 cents a share, from a loss of $114.6 million, or 61 cents a share, in the year-ago quarter. The result of a 13-cent loss beat the FactSet consensus estimate for a loss of 17 cents a share.

Trulieve’s third quarter revenue fell to $257.2 million from $295.4 million in the year-ago quarter and beat the analyst forecast of $269.2 million.

Verano shares
VRNOF,
+1.40%
were up by 3.5%. Earlier this week, the company reported a 5% increase in third-quarter revenue to $240 million and a loss of $17.84 million, down from $43 million in the same period a year earlier.

Also read: Americans’ support for legalizing cannabis edges up to 70% and Ohio voters OK pot referendum, as cannabis stocks rise

Source link

November 10, 2023 0 comment 8 views

Stock Market

HHS recommends rescheduling cannabis, and stocks in the sector rally

by callingemout August 31, 2023

The U.S. Drug Enforcement Administration is reviewing a recommendation from the Department of Health and Human Services to reclassify cannabis as a Schedule III controlled substance under U.S. law in a move that sparked a rally by cannabis stocks on Wednesday.

The historic move — more than 50 years after the Schedule I designation — could open up cannabis to interstate trade as well as remove an expensive 280E tax burden that prevents legal cannabis companies from writing off normal business expenses, experts said.

A…

Source link

August 31, 2023 0 comment 24 views

Stock Market

Alcohol use drops among young adults, while cannabis consumption grows: Gallup poll

by callingemout August 24, 2023

The number of adults age 34 and younger who say they drink alcoholic beverages has dropped during a period of rising cannabis use, according to new survey from Gallup.

The polling company said the data suggests that increased use of marijuana by young adults “could be a factor” in their declining interest in alcohol. Another factor could be growing concern that moderate drinking is unhealthy.

The poll, conducted between July 3 and July 27, found that 62% of adults age 18 to 34 consume alcoholic beverages such as liquor, wine or beer. That’s down from 72% who said the same between 2001 and 2003.

On average, young adults have 1.6 fewer drinks per week now than they did a decade ago.

Today, 52% of young adults said they’re worried about the health effects of consuming alcohol, up from 34% five years ago.

Since Gallup first started measuring cannabis consumption in 2013, the percentage of adults age 18 to 34 who use it has risen 11 points to 25%.

“Young adults’ increased use of marijuana in recent years could be a factor in their declining interest in alcohol,” Gallup said about the data, which was released on Tuesday. “It’s possible young marijuana users smoke it (or use it in other ways) more often than middle-aged users, making marijuana more of a replacement drug for alcohol for them.”

Alcohol use has grown among middle-aged and older Americans in the past decade, but it’s dropped among adults age 18 to 34.

Gallup

About 17% of adults age 35 to 54 now say they have used marijuana, up from 4% in 2013, Gallup said.

Shifting demographics may also be a factor in decreased alcohol use by younger adults, as the U.S. population of Black, Hispanic and Asian people has increased. Non-white Americans have been less likely than white Americans to drink alcohol.

Separately, craft beer sales have been dropping as the sector cools off, TD Cowen analyst Vivien Azer said recently.

In the category of craft beer, volume has been dropping for the past two years, including a 6% drop in 2021 and a 9% move down in 2022, Azer said. Sales are also down.

While some cannabis companies such as Tilray Brands Inc.
TLRY,
-7.23%
have been rolling out beer products, Molson Coors
TAP,
-0.21%
recently agreed to sell its stake in a cannabis-drink company to Tilray, while Constellation Brands Inc.
STZ,
-1.15%
has avoided further investments in Canopy Growth Corp.
CGC,
-5.60%.

Also read: Molson Coors sheds no tears as Tilray buys its remaining 58% stake in THC drink company Truss Beverage

Also read: Tilray’s deal with AB InBev makes it a much bigger beer company — but beers with falling sales, analysts say

Source link

August 24, 2023 0 comment 24 views

Stock Market

TerrAscend says Morgan Stanley, BNY Mellon lift custody ban on cannabis for Toronto Stock Exchange listing

by callingemout August 11, 2023

Morgan Stanley and Bank of New York Mellon have lifted a ban on providing custody services for the Toronto Stock Exchange listing of TerrAscend, a move that will make it easier for institutions to buy and sell the cannabis company’s stock, TerrAscend said.

Morgan Stanley
MS,
+0.13%
and BNY Mellon
BK,
+0.03%
both provide stock-trading custody services which include the settlement, safekeeping and reporting of securities and cash for clients.

But these services have not been available for cannabis-related companies such as TerraAscend
TSND,
+1.40%
TSNDF,
+0.84%,
because pot remains a Schedule I controlled substance under U.S. law.

That means hedge funds and mutual funds that buy and sell stocks would have no easy way of trading cannabis stocks.

TerraAscend Executive Chair Jason Wild said the company moved its listing to the Toronto exchange on July 1 with the expectation that the stock would receive more trades from Canadian and European investors.

See: Cannabis company TerrAscend draws kudos from analysts with Toronto Stock Exchange listing on tap for next week

Wild told analysts on Thursday that custodian services have been opened up via Morgan Stanley, BNY Mellon and others in a move that will also allow U.S. institutions to buy and sell the stocks.

“Prior to listing, when investors asked us about U.S. custody, we opined that we didn’t know if a [Toronto Stock Exchange] listing would solve that issue,” Wild said. “But I’m happy to report that already Morgan Stanley, Bank of New York and their purchasing stock-clearing unit, Cohen, and others have removed TerrAscend from their block security list pursuant to their formal MRB, or marijuana-related business, policy.”

It’s not clear if the clearance-service change will include cannabis stocks of other companies with operations in the U.S.

Also read: TerrAscend eyes more M&A after closing big acquisition of Gage

A spokesperson from Morgan Stanley declined to comment. A BNY Mellon spokesperson did not immediately reply to an email from MarketWatch.

Wild said TerraAscend has had “multiple institutional inbounds in recent weeks” from both U.S. and foreign investors.

“While institutional investors may still refrain from investing in our shares based upon their internal compliance policies, custodial impediments will no longer be in the way of the firms that ultimately choose to invest,” Wild said. “While the removal from the blacklist has gone without much notice, we do think that this is a big deal.”

Wild said TerraAscend expects to be included on “several” indexes in coming months.

Lack of institutional involvement in U.S. cannabis stocks listed over the counter and on the Canadian Securities Exchange has often been seen as contributing to both the weak stock performance and volatility of pot stocks, which are mostly owned by individuals, not institutions.

The current year has been tough for cannabis-stock prices amid a lack of movement on cannabis reform at the federal level. The SAFE Banking bill, for example, which was first proposed about a decade ago, has yet to come up for a vote in the U.S. Senate.

The AdvisorShares Pure U.S. Cannabis exchange-traded fund
MSOS
is down 27.5%, the Global X Cannabis ETF
POTX
is down 37.3% and the ETFMG Alternative Harvest ETF
MJ
has lost about 27.2%.

While cannabis stocks overall have been hard-hit in 2023, TerraAscend’s stock is up nearly 39%.

Wild told MarketWatch that the company’s second-quarter results were boosted by the addition of dispensary locations in Maryland in the final weeks before the state kicked off adult-use sales of cannabis over the summer.

While the company’s second-quarter loss of 5 cents a share fell a penny short of the FactSet consensus target, TerrAscend’s revenue of $72.1 million beat the forecast of $71.3 million. The company said its results also exceeded internal forecasts.

TerrAscend expects full-year 2023 revenue of at least $305 million, compared with the analyst view of $303.5 million.

By positioning the company to grow regardless of the lack of action in Washington, Wild said TerraAscend is in a better place today, with the lowest employee turnover since the company was founded in 2017, said Wild and TerrAscend CEO Ziad Ghanem.

“We feel for us, we’ve made it to the other side,” Wild said.

Also read: Canopy Growth beats analyst targets as its ‘asset-light’ strategy bears fruit, but Curaleaf’s miss weighs on pot stocks

Also read: Green Thumb Industries posts another profit as CEO channel Warren Buffett

Source link

August 11, 2023 0 comment 39 views

Stock Market

Customer donations at cannabis shops may help fund new super PAC Legalize America

by callingemout June 28, 2023

A super PAC called Legalize America is launching Wednesday with backing from advocacy group the U.S. Cannabis Council and legal cannabis companies. It’s described as the first super PAC aimed at cannabis reform in the U.S., MarketWatch has learned.

Curaleaf Holdings Inc.
CURLF,
-0.66%,
Cronos Group
CRON,
-2.56%
and payments specialist Dutchie are among the supporters of Legalize America, which will raise money from cannabis companies and from customers and dispensaries as the 2024 political season heats up.

The group is exploring a fundraising effort funded through round-up donations from customers at cannabis dispensaries that will start with a test program this summer at an unnamed location. Legalize America hopes to expand the program to a range of multistate cannabis operators around the country.

“We’ll support candidates who are advancing reform and oppose those who are blocking it,” said David Culver, senior vice president of public affairs for the U.S. Cannabis Council.

The option of making round-up donations has already been offered at some cannabis dispensaries to fund for other causes, such as the Last Prisoner Project, a nonprofit devoted to cannabis criminal justice reform.

Legalize America is a bipartisan group that will use all the traditional tools of super PACs, including scorecards of how elected officials vote, endorsements and targeted independent expenditure campaigns to support cannabis reform.

The group’s initial priorities include working to pass the SAFE Banking law to open up the U.S. financial system to cannabis companies, as well as urging the Biden administration to change the current status of cannabis as a Schedule I controlled substance under U.S. law , either by making it a Schedule III drug or descheduling it entirely.

It will also work with the Food and Drug Administration and other federal agencies on regulating cannabidiol, or CBD, a move that could end up affecting federal rules around all cannabinoids, including THC.

While at least two-thirds of Americans support marijuana legalization and 23 states now allow adult-use cannabis sales, cannabis remains in the same category as heroin under U.S. law.

David Culver, senior vice president public affairs, U.S Cannabis Council

U.S. Cannabis Council

“Congress is stuck in the past,” Culver said. “They’re way behind what Americans want. It’s not unusual for Congress to be a lagging indicator.”

The round-up donation program has the potential to raise significant amounts of money, but the group did not comment on projected donations.

Legalize America is an independent organization, but the group’s board members are all affiliated with the USCC. Matt Harrell, vice president of government relations at Curaleaf, is the chair of Legalize America’s board, and Pete Meachum, vice president of government affairs at Cronos Group, is the board secretary.

An anti-cannabis organization called Smart Approaches to Marijuana has also been ramping up its work on Capitol Hill.

Also read: This group that opposes marijuana legalization is trying to ‘take back 4/20’

Also read: Pot advocates call for expungement of cannabis records in rare hearing on Capitol Hill

Matt Karnes, founder of GreenWave Advisors, a cannabis research and advisory firm, said lobbying efforts on behalf of the cannabis industry remain “insignificant” compared with those of the opposition, which for the most part includes large pharmaceutical, tobacco and alcohol companies.

“Clearly, momentum is building in favor of federal reform as an increasing number of Americans support the end of cannabis prohibition,” Karnes said. “To get legislation over the line, I do think the time has come for the industry, and in particular the larger multistate operators, to lean in with a more aggressive lobbying effort.”

Meanwhile, Green Thumb Industries Inc.
GTBIF,
-1.58%
has hired lobbying firm Akin Gump, and Trulieve Cannabis Corp.
TCNNF,
-1.52%
has spent about $39 million to support getting an adult-use cannabis referendum placed on the ballot in Florida.

A PAC is a political action committee that raises money to support causes. Super PACs (independent expenditure only political committees) are committees that may receive unlimited contributions from individuals, corporations, labor unions and other PACs for the purpose of financing independent expenditures and other independent political activity, according to the Federal Election Committee.

Also read: Canopy Growth cuts 1,200 jobs in past year and issues ‘going concern’ warning as analyst eyes solvency of cannabis company

Source link

June 28, 2023 0 comment 65 views

Stock Market

As Tilray buys Hexo, former exec sees more consolidation ahead in Canadian cannabis

by callingemout June 23, 2023

Canada continues to face an oversupply of cannabis that has pushed down prices even as the cost of capital has increased, which will result in more consolidation ahead, one executive told MarketWatch on Friday.

Julius S. Ivancsits has now left his job as chief financial officer of Hexo as part of the acquisition of the cannabis company by Tilray Brands Inc.
TLRY,
-5.59%.
The deal, which closed on Thursday, was announced in April. Hexo CEO Charlie Bowman has also stepped down, and Hexo’s stock has ceased trading.

Tilray said the deal to buy Hexo will create Canada’s largest cannabis company by revenue as it competes with rival Canopy Growth Corp.
CGC,
-13.95%

WEED,
-11.69%
for dominance in the market.

Ivancsits said the past year has been a challenging time, with cannabis stock prices falling sharply and a glut of supply in the Canadian market. In June 2022, Hexo said it had to reduce its workforce by 450 people.

Tilray initially agreed in 2022 to acquire Hexo’s remaining $193 million in senior secured convertible notes as a precursor to the deal that closed this week.

Hexo and other Canadian companies have faced a cash crunch after investing heavily in greenhouses and other infrastructure and making acquisitions partly in anticipation of U.S. legalization that has yet to occur.

With inflation on the rise and increased interest rates for loans, cannabis companies must consolidate to achieve scale, Evancsits said.

Former Hexo CFO Julius S. Ivancsits sees more consolidation ahead in the Canadian cannabis market.

courtesy photo

“Everyone is raising capital to prepare for a longer haul,” he said. “You’re going to see a lot of the smaller players getting absorbed. … Price compression requires scale.”

For his part, Evancsits plans to take a temporary break from work after splitting his time between Canada and his home in Miami while working for Hexo.

Tilray and Canopy Growth have also diversified their revenue streams into other markets such as Europe, as well as launching new product lines such as Tilray’s beer offerings in the U.S. from Montauk Brewing Co. and Canopy Growth’s BioSteel sports performance drink.

Also read: Tilray stock drops nearly 20% after convertible notes offered to help pay down debt

Investor enthusiasm around cannabis ran high after Constellation Brands Inc.
STZ,
-1.18%
spent billions for stakes in Canopy Growth in 2018 and 2019, but the reality of a crowded market in Canada has pushed stocks down in 2022 and 2023. At last check, Canopy Growth’s market cap was $289 million.

Also read: Canopy Growth’s stock pops after it reveals latest plan to enter U.S. cannabis market

Stock prices of many cannabis companies have fallen below $1 a share, with the AXS Cannabis exchange-traded fund
THCX,
-4.45%
down 33.6% in 2023.

So far in 2023, Canopy Growth’s stock is down 77.5%, while Tilray’s stock has fallen 43%. By comparison, the Nasdaq has risen 29% in 2023.

Also read: Canopy Growth faces SEC investigation after BioSteel sales misstatements

Source link

June 23, 2023 0 comment 62 views

Stock Market

Canopy Growth’s stock pops after it reveals latest plan to enter U.S. cannabis market

by callingemout May 22, 2023

Canopy Growth Corp.’s U.S.-listed stock rose 5.5% Monday after the Canadian cannabis company outlined its latest steps to enter the U.S. market while complying with Nasdaq listing requirements.

The company said it has filed a revised proxy statement with the U.S. Securities and Exchange Commission updating its strategy to accelerate entry to the U.S. cannabis industry through a U.S.-domiciled company called Canopy USA LLC.

Canopy USA will house the companies in which it has options that would give it full control should cannabis be legalized at the federal level, namely Acreage Holdings, Inc., Jetty Extracts and Wana Brands.

Canopy Growth
CGC,
+11.47%

WEED,
+2.84%
has long aspired to gain access to the U.S. market and take advantage of far greater opportunities than are available in Canada, where it continues to post heavy losses. With U.S. federal legalization apparently still some way off, it has come up with a plan to fast-track that goal.

Now read: Canopy Growth sells retail operations but likely got much less than it paid for them, analyst says

Last October, the company thought it had a plan that would pass muster with U.S. regulators, but the Nasdaq objected to its intention to consolidate Canopy USA’s earnings into its financial results.

The idea was for a hands-off setup in which Canopy USA would have its own board, and for Canopy Growth and majority shareholder Constellation Brands Inc.
STZ,
+0.07%
to surrender voting rights by converting their stock to exchangeable shares.

Canopy said it would now modify the structure so that it holds no more than 90% of Canopy USA. It will also adjust the composition and nomination rights of Canopy USA’s board of managers and make other amendments. The changes mean it will no longer require the consolidation of Canopy USA’s numbers into its results.

“Canopy USA is a novel strategy designed to capitalize on a once-in-a-generation market opportunity,” CEO David Klein said in a statement. “We are pleased to have found a path forward that enables us to stay within [Nasdaq’s] listing requirements, while preserving the meaningful value associated with this plan.”

The U.S. cannabis market is expected to be a more than $50 billion market opportunity by 2026, said Canopy.

“Canopy USA’s portfolio includes some of the most recognized, iconic cannabis brands in the U.S. that Canopy Growth believes are ideally positioned in the fastest-growing categories, such as edibles, vapes, and flower,” said the statement.

Canopy is now planning to hold a shareholder meeting once the SEC has reviewed the modified proxy to vote on authorizing an amendment to its articles of incorporation. That will allow it to create the class of nonvoting exchangeable shares in the capital of Canopy Growth.

The stock is down 45% in the year to date, while the AXS Cannabis exchange-traded fund
THCX,
+3.87%
has fallen 26% and the S&P 500
SPX,
+0.02%
has gained 9%.

Source link

May 22, 2023 0 comment 37 views

Stock Market

Ayr Wellness clears ‘cloud’ over company with moves to strengthen balance sheet

by callingemout May 18, 2023

This article has been updated to correct the spelling of David Goubert’s name.

Ayr Wellness Inc. is rallying for a second straight day on Wednesday after posting first-quarter results that included positive moves on its balance sheet, stronger-than-expected revenue and a 200-person reduction in head count.

Ayr Wellness’s
AYRWF,
+16.88%
stock is up 18% to $1.18 in its first trading day holding above $1 a share since early March.

The company reported an adjusted first-quarter loss of 13 cents a share, ahead of the average analyst estimate for a loss of 38 cents a share, according to estimates compiled by First Call.

Ayr Wellness’s first-quarter revenue rose 3% from the fourth quarter, to $117.67 million, below the target of $124.9 million.

The company also managed to build up its cash by $20 million while focusing on cost-cutting and expanding in new markets.

Also read: Angel tech investor launches Gotham cannabis store with fresh New York City retail look

Ayr also boosted its liquidity by reaching agreements with the sellers for amendments to contingent consideration for its acquisitions of Garden State Dispensary in New Jersey and Sira Naturals in Massachusetts.

The move resolves what would have been a potential near-term dilution event for shareholders related to Ayr’s purchase of Garden State Dispensary, the company said.

“It was kind of a big cloud hanging over us in 2023,” Ayr CEO Dave Goubert told MarketWatch.

Ayr said last week it hired Moelis & Company LLC as a financial adviser, as it explores capital structure alternatives to extend upcoming debt maturities.

Also read: Pelorus Capital Group marks debt upgrade milestone for cannabis finance sector

Looking ahead, Goubert said the company continues to eye growth in medical cannabis in Florida and adult-use cannabis New Jersey, as well as potential adult-use legalization in Pennsylvania.

Ayr Wellness currently operates 60 dispensaries in Florida and plans to open 10 more by the end of the year. The medical-cannabis business in Florida now totals about $2 billion but could go up to $6 billion with adult-use legalization.

Also read: Mission Green Alliance launches to free people imprisoned on federal cannabis charges

Ayr Wellness ended the quarter with $96.5 million in cash, a sequential increase of $19.7 million, or 26%.

The company drew in $18 million from the sale of units in Arizona and $10 million from the closing of a real-estate-financing transaction. These gains were partially offset by repayments of debt principal and capital expenditures totaling about $14 million.

Goubert was named incoming CEO of Ayr in October after most recently serving as president and chief customer officer at Neiman Marcus.

Also read: Ayr walks away from $55 million dispensary deal in Chicago and pivots toward business ‘optimization’

Source link

May 18, 2023 0 comment 42 views

Stock Market

Cannabis stocks rally as U.S. lawmakers reintroduce SAFE Banking bill

by callingemout April 27, 2023

A move in in both the U.S. House of Representatives and the Senate to reintroduce legislation to open up the financial system for cannabis companies has sparked a rally in beaten-down stocks in the sector on Thursday.

The legislation has been passed by the House seven times but has yet to win Senate approval. Wall Street analysts and lawmakers said the latest version may come to a vote in the Senate for the first time.

However,…

Source link

April 27, 2023 0 comment 104 views

Stock Market

Weekend reads: How companies and consumers fight inflation and handle shrinkflation

by callingemout April 29, 2022

Inflation is on everyone’s mind, and consumers are frustrated not only with price increases but with “shrinkflation” — when a familiar product suddenly comes in a much smaller package.

Obvious remedies include switching to lower-price or private label products and even doing without certain items. But one company that makes premium products seems to be powering through with a focus on quality. As part of a broad look at inflation for consumer products, Tonya Garcia explains Procter & Gamble’s strategy, which has translated to excellent performance for its stock over the past year.

More inflation coverage:

A weekend of Buffett and a good 2022 for Berkshire Hathaway

MarketWatch photo illustration/Everett Collection, iStockphoto

So far this year, shares of Berkshire Hathaway
BRK.B,
-1.39%
have risen 11%, while the S&P 500 has declined 10%, with dividends reinvested. CEO Warren Buffet will lead the conglomerate’s annual meeting on Saturday. These are some questions to expect.

Here’s more to consider:

How about some bitcoin in your 401(k)?

The Bitcoin 2022 Conference in Miami.

Marco Bello/Getty Images

Fidelity Investments will soon allow companies with 401(k) plans to offer employees the option of holding bitcoin
BTCUSD,
-2.19%
within their retirement accounts. Alessandra Malito considers which investors might be well-served having some of their retirement savings in the virtual currency, while Brett Arends argues against it.

Lessons learned from the crash of marijuana stocks

While the S&P 500 returned 3.2% over one year through April 28 with dividends reinvested, the AdvisorShares Pure US Cannabis ETF
MSOS,
-1.24%
plunged 61%.

Michael Brush shares a new set of seven investment rules that apply to everyone, even though they have been learned from the the marijuana stock debacle.

More beaten-down companies: Many tech stocks that have crashed are still too expensive to buy

A big retirement move that went wrong

At the ocean in Westerly, R.I.

Lisa Watts

If you are planning a retirement move, there may be some important elements you haven’t thought of. Lisa Watts tells the story of how she and her husband made a retirement move, regretted it, tried another spot and finally got it right with yet another move.

See the “Where Should I Retire?” column for more ideas for locations, and you can try your own custom search
Try MarketWatch’s retirement location tool for your own custom search. It includes data for more than 3,000 U.S. counties and incorporates climate risk.

The housing market is already slowing down

When factoring-in home price increases and rising interest rates, the monthly mortgage loan payment for an average-priced house in the U.S. has increased 50% over the past year, Jacob Passy reports.

But there are early signs that the Federal Reserve’s moves to slow an overheated economy are having an effect — pending home sales have fallen.

More housing coverage:

Betting against Cathie Wood

In this week’s ETF Wrap, Christine Idzelis looks into short-sellers’ profitable trades against Cathie Wood’s Ark Innovation ETF
ARKK,
+1.47%.

More thoughts about Elon Musk and Twitter

Tesla and SpaceX CEO Elon Musk.

Getty Images

On April 25, Twitter’s
TWTR,
+1.42%
board of directors agreed for the social media company to be acquired by Tesla
TSLA,
+4.23%
CEO Elon Musk for $44 billion in cash subject to a shareholder vote. Early on April 29, shares of Twitter were changing hands for $49.88 — 8% below the $54.20 take-out price.

Here’s a sampling of the latest related coverage:

I-bonds have high yields and maybe

Series I savings bonds are available directly from the U.S. Treasury They are now yielding 7.12%, but are expected to have their yields raised to above 9% in May, based on the inflation rate. The rates are reset every six months in May and November.

John Lim explains five ways you can use I-bonds right now to improve your overall financial health.

Another possible way to treat the coronavirus

Jaimy Lee looks into the use of generic drugs to help people with Covid-19 stay out of hospitals.

The unfolding solar utility market

A rendering of a possible energy storage system.

Getty Images/iStockphoto

Here’s a deep look into the development of combined solar power plants and energy storage facilities by three people at Lawrence Berkeley National Laboratory in Berkeley, Calif.

Steinway and other IPOs

Lang Lang plays on the Steinway Spirio high resolution player piano in Paris.

Getty Images

Ciara Linnane shares five things investors need to know about Steinway as the piano maker prepares to go public again.

More coverage of initial public offerings and their aftermaths:

Want more from MarketWatch? Sign up for this and other newsletters, and get the latest news, personal finance and investing advice.

Source link

April 29, 2022 0 comment 241 views

Newer Posts

Older Posts

Marijuana Products

Alcohol use has grown among middle-aged and older Americans in the past decade, but it’s dropped among adults age 18 to 34.

David Culver, senior vice president public affairs, U.S Cannabis Council

Former Hexo CFO Julius S. Ivancsits sees more consolidation ahead in the Canadian cannabis market.

A weekend of Buffett and a good 2022 for Berkshire Hathaway

How about some bitcoin in your 401(k)?

The Bitcoin 2022 Conference in Miami.

Lessons learned from the crash of marijuana stocks

A big retirement move that went wrong

At the ocean in Westerly, R.I.

The housing market is already slowing down

Betting against Cathie Wood

More thoughts about Elon Musk and Twitter

Tesla and SpaceX CEO Elon Musk.

I-bonds have high yields and maybe

Another possible way to treat the coronavirus

The unfolding solar utility market

A rendering of a possible energy storage system.

Steinway and other IPOs

Lang Lang plays on the Steinway Spirio high resolution player piano in Paris.