The Canadian marijuana stocks we’ve discovered have seen the largest change in insider ownership over the past quarter
SmallCapPower | June 24, 2019: When assessing any company, it is always important to look at insider ownership. If a company has high insider ownership, it generally means that the company’s management has genuine faith in the company’s success and incentivizes management to maximize the company’s share price. This is because insiders know a lot more about the Company’s prospects that the average investor. Today we have identified four Canadian marijuana stocks that have seen the largest increase in insider ownership over the past quarter.
Share prices as at close Thursday, June 20, 2019, data obtained from S&P Capital IQ
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DionyMed Brands Inc. (CSE:DYME) – $1.41
Cannabis
DionyMed is a U.S.-based, multi-state cannabis brands platform, which supports cultivators and manufacturers to navigate through the medical and adult-use markets. DionyMed started in the cannabis industry by manufacturing vape cartridges for the adult-use market in California. Since then, the Company has expanded from manufacturing into distribution. Currently, DionyMed sells branded products in every category from flower to vape cartridges, concentrates and edibles. The Company serves more than 700 dispensaries and operates a delivery service, which delivers to 40,000 customers each month. On June 6, 2019, DionyMed announced that it had received up to $32M in financing from Alumina Partners. The funds are expected to be used to accelerate DionyMed’s cannabis brands distribution and delivery platform in California.
- Market Cap: $89.5M
- YTD Return: -62.1%
- 90 Day Average Trading Volume: 110,000
- Change in Insider Ownership Over the Past Quarter: 1,839.9%
The Flowr Corporation (TSXV:FLWR) – $7.23
Cannabis
The Flowr Corporation operates a 16,000 sq. ft. indoor production facility in Kelowna, British Columbia, capable of producing at an annual capacity of 3,100 kg. The facility is customized for an “enhanced sea-of-green” growing style, utilizing equal-sized plants to target maximum yields and produce the highest-quality products. An expansion project on the Kelowna facility is currently under progress with a projected production capacity of 61,750 kg in 2021E. On May 23, The Flowr Corporation announced that the Nasdaq Stock Market has approved the Company’s application to have its common shares listed on the Nasdaq Capital Market. The common shares will be listed on the Nasdaq under the symbol “FLWR.” On June 17, FLWR announced that it had secured a $50M senior credit facility from ATB Credit Facilities for general working capital purposes and for the development of its facility in Kelowna.
- Market Cap: $645M
- YTD Return: 67.3%
- 90 Day Average Trading Volume: 180,000
- Change in Insider Ownership Over the Past Quarter: 580.8%
Harvest One Cannabis Inc (TSXV:HVT) – $0.63
Cannabis
Based in Vancouver, Harvest One is a global cannabis company that develops and provides innovative lifestyle & wellness products to consumers & patients in regulated cannabis markets throughout the world. The Company’s range of lifestyle solutions is designed to enhance quality of life. HVT has significant exposure to the entire cannabis value chain through three wholly-owned subsidiaries: United Greeneries, Satipharm, and Dream Water. On May 30, Harvest One announced Q3/19 results: The Company had a net loss of $5.1M on revenues of $3.0M, a change of -54% and -19%, respectively, from the previous quarter.
- Market Cap: $117.1M
- YTD Return: 46.5%
- 90 Day Average Trading Volume: 460,000
- Change in Insider Ownership Over the Past Quarter: 239.8%
Planet 13 Holdings Inc (CSE:PLTH) – $2.74
Cannabis
Planet 13 Holdings cultivates, produces, and distributes medical and recreational cannabis in Nevada. The Company owns the world’s largest cannabis store, the Planet 13 Superstore. This store acts as a showcase for a growing portfolio of branded products, including vapes, edibles, pre-rolls, and concentrates. Planet 13’s ambition is to operate high-end dispensaries in Tier-One markets nationwide and to sell its brands in both its branded stores and wholesale. The Company’s brands include Medizin, Trendi, and Leaf & Vine. On June 17, Planet 13 announced that it has aligned with PAX Labs, a leading vaporizer technology brand, to create a premium flagship display space within the Planet 13 Complex, featuring PAX devices and other accessories. This follows an announcement from April 30, 2019, when Planet 13 released its Q4/18 financial results. Revenues came in at $8.3M, a 145% increase from $3.4M quarter-over-quarter. In addition, gross profit was $4.2M, compared with $1.7M in Q3/18.
- Market Cap: $368M
- YTD Return: 69.4%
- 90 Day Average Trading Volume: 600,000
- Change in Insider Ownership Over the Past Quarter: 212.2%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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