Have These 3 Pot Stocks Lost The Smoke – CAN, AC8 And THC?

Have These 3 Pot Stocks Lost The Smoke - CAN, AC8 And THC?

As Global cannabis Industry is growing at an exponential rate, it is very important for investors to keep tracking the pot stocks. Let take a closer look at 3 Pot Stocks –

Cann Group Limited (ASX: CAN)

Cann Group Limited (ASX: CAN) has been operating in quickly evolving medicinal cannabis sector in Australia, which is getting continued support from the government at both a federal and state level. With the growing number of countries moving to legalize medicinal cannabis, the opportunities for Australian companies continue to expand. Cann Group is well placed to take advantage of these opportunities as it has been building a platform that will generate sustainable profits and shareholder value over the long term.

The company recently released its half-year financial results for six months ended 31 December 2018, in which it reported an operating loss of $4.898 million. During the half-year, the company expanded its network and secured a contract with the Victorian Department of Health and Human Services for the supply of cannabis plant extract.

In the last six months, the share price of the company decreased by 42.25% as on 14 March 2019. At the time of writing (15 March 2019 AEST 03:40 PM), CAN’s share is trading at $1.570 with a market capitalization of circa $218.64 million. It has 52 weeks high of $3.880 and 52 weeks low of $1.525, currently it is trading at close to lower level.

AusCann Group Holdings Ltd (ASX: AC8)

Cannabinoid medicines manufacturer, AusCann Group Holdings Ltd (ASX: AC8) recently released its half-year report for the period ended 31 December 2018 in which reported a loss of $4.438 million. During the half year period, net assets of the consolidated entity increased to $43.255 million as at 31 December 2018 from $14.112million at 30 June 2018.

In July 2018, the company completed a share placement raising A$33.5 million and a further A$1.9m was raised in August 2018 via a share purchase plan. As a result of the capital raising, the Company was able to enter into an agreement for the purchase of a facility which will be developed into a state of the art, fully integrated facility supporting pharmaceutical and novel dose form development activities. The purchase was completed for an acquisition price of A$5.25 million, in January 2019.

In the last six months, the share price of the company decreased by 66.04% as on 14 March 2019. At the time of writing (15 March 2019 AEST 03:40 PM), AC8’s share is trading at the price of $0.350 with a market capitalization of circa $111.27 million. It has 52 weeks high of $1.880 and 52 weeks low of $0.360 with an average volume of ~ 1,185,383.

THC Global Group Limited (ASX: THC)

Medicinal Cannabis company, THC Global Group Limited (ASX: THC) recently released its preliminary final report for the full year ended 31 December 2018. For the full year period, the company reported revenue from ordinary activities of $2.664 million which is 44% higher than the previous corresponding period. Further, the company reported a loss from ordinary activities of $8.611 million which was 237% higher than the previous corresponding period (pcp).

In the last one month, the share price of the company decreased by 3.45% as on 14 March 2019. At the time of writing (March 15, 2019 AEST 04:00 PM), THC’s share is trading at $0.580 with a market capitalization of circa $71.28 million with an intraday volume of ~ 124,884.


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