April 16, 2019 / 3:19 PM / 6 months ago

REFILE-BUZZ-Weed stocks light up on report of Canopy Growth's sales forecast

(Corrects RIC for Canopy Growth in first bullet)

** Cannabis stocks higher on Canopy Growth's sales forecast report here

** Canopy Growth CEO Bruce Linton said at a GMP Securities conference in Toronto that co would generate over C$1 billion ($748.62 million) in sales in a year from April, Bloomberg reports

** Shares of Tilray, U.S.-listed Canopy Growth and Aurora Cannabis up between 3% and 5%

** Weed stocks have been on a high since last year with new investments from big beverage and tobacco companies and marijuana legalization in Canada & some regions of the U.S.

** Separately, ACB said it would buy remaining interest in Hempco Food and Fiber Inc for about C$63.4 mln

** Analysts on average expect CGC’s FY20 rev to be C$790.09 mln, according to Refinitiv data

** U.S.-listed CGC shares already surged over ~50% this year

** Horizons Marijuana Life Sciences ETF up ~41% , and ETFMG Alternative Harvest ETF up ~38% this year

** Cannabis stocks lead gains among TSX Composite index in early trading ($1 = C$1.34) (Reporting by Divya R in Bengaluru)

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