Christopher Carey

Businesses have ground to a halt in deference to stay-at-home orders, and even some essential operations have lost their workforce to fear of the coronavirus. With operations at a standstill, revenue-less companies are beginning to furlough employees. Unemployment is rising in the U.S. and Canada....

All of a sudden, renewed optimism about the government stimulus package and a handful of data points suggesting the spread of COVID-19 may be slowing has the S&P 500 up 10.3% since April 1. Unfortunately, the economy and the market are not out of the woods just yet. It may be years before some...

Cronos Group Inc. (NASDAQ: CRON) released fourth quarter and full-year 2019 financial results Monday, posting net revenue of $7.3 million versus $4.28 million in the same quarter of 2018. The increase in revenue contained a non-cash gain of $118.8 million connected with the $1.8-...

BofA Securities turned bearish on one cannabis stock, bullish on another and moved to a neutral stance on a third Thursday. Aphria Has Cash, Favorable Demand Trends Analyst Christopher Carey upgraded Aphria Inc. (NYSE: APHA) from Neutral to Buy and lowered the price objective from $8 to $5....

Cannabis company Canopy Growth Corp (NYSE: CGC) announced a "production optimization plan" Wednesday that involves closing two facilities and slashing 500 jobs. The Canopy Growth Analysts MKM Partners’ Bill Kirk reiterated a Neutral rating on Canopy. BofA’s...

Almost as soon as marijuana got the green light in Canada, investors were looking toward “cannabis 2.0” — edibles, concentrates, topicals, beverages. Bank of America analysts Christopher Carey and Lisa Lewandowski suspect that 89% of cannabis sector value is in these categories...

Shares of cannabis company Canopy Growth Corp (NYSE: CGC) (TSE: WEED) soared on Friday in New York and Toronto after the company reported a big third-quarter revenue and profit improvement. Two analysts maintained Buy ratings on the stock — and said the beat could help the sector as a...

Over the past 12 months, Aurora Cannabis Inc. (NYSE: ACB) shares fell 79.3%. On Thursday morning, the company posted second-quarter financial results, with net revenue of CA$66.6 million ($50.21 million), 26% lower than in the first quarter. The Aurora Cannabis Analyst BofA Securities analyst...

After a brutal year in 2019, cannabis stocks are off to another rough start so far in 2020. Growth in the Canadian market hasn’t been as robust as previously expected, little progress has been made toward U.S. federal legalization and heavy losses are putting several top cannabis stocks in...

Over the past 12 months, Canopy Growth Corp (NYSE: CGC) shares have fallen 55.89%. On Tuesday, BofA Securities analyst Christopher Carey reiterated a Buy rating on the stock with a price objective of CA$36.00 ($27.59). "Canopy sales must be much higher to breakeven on profit," Carey...

Cannabis stock have heated up a bit to start the new year, but BofA Securities analyst Christopher Carey sees downside ahead. BofA lowered its 2020 sales estimates across the board for Aurora Cannabis (NYSE: ACB), Canopy Growth Corp (NYSE: CGC), Organigram Holdings Inc. (NASDAQ: OGI), Cronos Group...

Organigram Holdings Inc. OGI (TSX:OGI) reported first-quarter net revenue of CA$25.2 million ($19.3 million) Tuesday, up 102% year-over-year from CA$12.4 million. The Organigram Analysts Cantor Fitzgerald’s Pablo Zuanic maintained an Overweight on Organigram and lowered the price target...

Over the last 12 months, Aurora Cannabis Inc. (NYSE: ACB) shares have fallen 70%. Two sell-side analysts turned bearish on the cannabis stock Friday.  The Aurora Analysts Piper Sandler analyst Michael Lavery downgraded Aurora Cannabis from Neutral to Underweight and lowered the price target...

Bank of America has launched a monthly U.S. cannabis tracker that utilizes data from BDS Analytics, in which it will analyze trends in dollars, price/mix, volume and share. Analyst Christopher Carey broke down the first iterations of the tracker. Considering the fact that more and more U.S. states...