Today’s Research Reports on Stocks to Watch: World Wrestling Entertainment and Canopy Growth Corporation

NEW YORK, NY / ACCESSWIRE / June 28, 2018 / Two new TV deals sent shares of World Wrestling Entertainment higher on Wednesday to a brand new high. Shares of Canopy Growth on the other hand saw big losses after reporting fourth and fiscal 2018 financial results.

RDI Initiates Coverage on:

World Wrestling Entertainment, Inc.
https://rdinvesting.com/news/?ticker=WWE

Canopy Growth Corporation
https://rdinvesting.com/news/?ticker=CGC

World Wrestling Entertainment, Inc. shares closed up 6.35% on about 4.8 million shares traded. The stock hit a new high of $74.72. The entertainment company that primarily is known for professional wrestling, saw its shares explode on the news of new TV deals. The company signed two major TV licensing deals for its flagship weekly shows with Fox and Comcast that will be in effect starting October 1, 2019. It was last week that JPMorgan analyst David Karnovsky raised his price target on the stock from $46 to $70 and reiterated a “neutral” rating. The analyst wrote, “The over 3x increase is higher than the 1.8x we had modeled, and relative to our expectation, we underestimated the probability the company would split its properties between networks, an outcome seemingly made possible by Fox Sports prioritizing WWE over UFC.” In the last twelve months, shares of WWE have seen gains of over 247%.

Access RDI’s World Wrestling Entertainment, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=WWE

Canopy Growth Corporation shares closed down nearly 11% on Wednesday after announcing fourth quarter and fiscal year 2018 financial results. Traders seem to be very disappointed with the results. The company reported a net loss of CA$61.5 million, compared to just CA$12 million loss in same quarter last year. Analyst surveyed by Thompson Reuters Eikon were expecting a loss of CA$12.8 million. While the bottom line was disappointing, due to spike in costs as the licensed marijuana producer gears up for the legalization of recreational pot in October, top line grew significantly. The medical marijuana company reported annual and fourth quarter revenue of CA$77.9 million and CA$22.8 million, representing a YOY increase of 95% and 56%, respectively. CEO Bruce Linton remarked, “With the recent launch of our Spectrum Softgels, strong sales in Canada and Germany and the expansion of our global footprint into Africa and further into Europe and Australia, we continue to drive our global leadership position in medical cannabis forward. The efforts of Canopy Growth and Canopy Health Innovations to develop a range of patented, insurance coverage eligible cannabis-based medicines took a critical step forward with the recent receipt of approval to conduct its first in a planned series of clinical trials. Believing that combining Canopy Health’s growing intellectual property portfolio with our production and advanced manufacturing platform will speed time to market of disruptive medicines, we made the decision to pursue full ownership of Canopy Health Innovations.” The company saw record Germany quarterly sales of CA$2.3 million.

Access RDI’s Canopy Growth Corporation Research Report at:
https://rdinvesting.com/news/?ticker=CGC

Our Actionable Research on World Wrestling Entertainment, Inc. (NYSE: WWE) and Canopy Growth Corporation (NYSE: CGC) can be downloaded free of charge at Research Driven Investing.

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