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Horizons ETFs Management (TSE:HMMJ) on Recreational Cannabis Revenue Trajectory
Horizons ETFs Management (TSE:HMMJ) (OTCMKTS:HMLSF) SVP Mark Noble likes the trajectory of recent financial reporting in the Canadian cannabis space. Noble believes earnings are moving in the right direction because the reporting shows investors that adult use cannabis sales are real and that companies are meeting targets. Which is great news for holders of Horizons Marijuana Life Sciences Index ETF (TSE:HMMJ). Noble credits OrganiGram Holdings Inc (CVE:OGI) (OTCMKTS:OGRMF) (FRA:0OG) with initiating the current run for cannabis stocks. OrganiGram was the first to report calendar Q4 2018 revenue and the company “knocked it out of the park.” He suggests Canopy Growth Corp’s (TSE:WEED) (NYSE:CGC) (FRA:11L1) recent deal with retailer Alimentation Couche-Tard Inc (TSE:ATD.A) (TSE:ATD.B) provides Canopy with an advantage over its competitors given Couche-Tard’s global footprint.