Cannabis Companies’ Earnings

Cannabis Companies’ Earnings

The U.S stock market soared last week on strong economic data, strong earnings, beating NFP, and hope that a breakthrough for the coronavirus is nearby.

New reports of a potential vaccine, and a better understanding of how to treat the virus raised optimism. EU is hardening its stance in the post-Brexit negotiations and deep differences in the shape of future EU-UK relationships could stop the talks.

EU states demand to continue the 'status quo' access to UK fishing grounds after Brexit. GBPUSD dropped below 1.2900 and next downside target might be 1.2800. In the coming week, the biggest cannabis companies will deliver their earnings reports and operating results. Investors will be looking for growth in sales and production.

Some analysts say that currently the Cannabis market is overvalued. In fact, it appears that this new industry has huge upside potential. Canopy Growth, the largest weed company in the world together with Aurora cannabis and Tilray are expected to report earnings and show that the Cannabis industry is on the path to profitability. 

These charts and the opinions above are for educational and informational purposes only. Technical analysis does not guarantee full accuracy and it could be subject to revision over time. We do not have any liability regarding financial results based on the use of this information.  

Cannabis Companies’ Earnings
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