Marijuana investors are having a mixed morning Wednesday, as shares of Canopy Growth (NASDAQ: CGC) move 2.8% higher after reporting what management called a "key inflection point" fiscal Q2 2023 earnings report -- but Aurora Cannabis (NASDAQ: ACB) and Tilray Brands (NASDAQ: TLRY) tumbled. After initially shooting higher on potentially positive news from the 2022 midterm elections and reports of "momentum" at Canopy, both Aurora and Tilray are back in the red as we approach the noon mark -- down about 2.6% and 3.2%, respectively, as of 11:40 a.m. ET. Canopy blamed the divestiture of a German subsidiary (and the consequent loss of its revenues), plus "increased competition in the Canadian adult-use cannabis market" for its sales decline in Q2 (but said the divestiture had the greatest impact). Read More...
Motley Fool
3 Stocks to Buy While They’re on Sale
While the number of stocks on “sale” seems to be growing exponentially in 2022, the three businesses we’ll look at today have dipped to valuations that buy-and-hold investors should consider. First, with Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and Adobe (NASDAQ: ADBE), we have two of the biggest names in technology, trading with price-to-free-cash-flow ratios they haven’t seen since 2013. Meanwhile, SoFi Technologies (NASDAQ: SOFI) now trades at around $5 per share, despite having over $3 worth of tangible book value per share on its balance sheet, and rapidly growing revenue.
