Mania has taken hold in the equity market and there is “no respect” for risk, says one strategist

Veggie-foods maker Beyond Meat BYND, +4.07% trades at 282 times estimated earnings. Tesla’s TSLA, +6.81% stock price has doubled this year. Virgin Galactic’s SPCE, +10.13% stock price has nearly tripled in 2020. The world’s most profitable company, Apple AAPL, +1.66%, withdraws its revenue guidance, and the technology-heavy Nasdaq Composite actually closes higher on the day. Mike O’Rourke, chief market strategist at institutional broker […]

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Canopy’s stock roars higher after better-than-expected earnings, sparks broad rally in cannabis sector

Canopy Growth stock roared higher Friday and sparked a broad rally among cannabis stocks, after a better-than-expected earnings report bolstered sentiment on the beaten-down sector. The report is a “beacon of hope” for the sector, said MKM analyst Bill Kirk. Canopy shares CGC, +13.37%WEED, +15.84% rocketed 18% in morning trading, putting them on track for their biggest gain in 18 months, […]

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Shake Shack shares pop as Goldman Sachs sees menu innovation driving same-store sales

Shake Shack Inc. SHAK, +8.56% shares jumped 8% in Wednesday trading after a bullish note from Goldman Sachs forecasts a menu-driven same-store sales rise. Goldman analysts say softness in the burger chain’s third-quarter results was due to a weak menu. Same-store sales rose 2% in the third-quarter, falling short of the 2.5% growth FactSet forecast. During the fourth quarter, Shake […]

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Weed stocks rally on last day of a brutal year

After a brutal year for cannabis investors, weed stocks on Tuesday were rebounding in the final trading session of 2019. Exchange-traded funds that track cannabis companies jumped more than 5% in Tuesday trading. The Horizons Marjiuana Life Sciences Index ETF HMMJ, +7.10% gained 7.7%, the ETFMG Alternative Harvest ETF MJ, +5.61% rose 5.3% and the Cannabis ETF THCX, +5.93% rose 5.7% — reflecting […]

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Beyond Meat might not be the only plant-based burger McDonald’s uses if it launches in the U.S.

If McDonald’s Corp. decides to add the P.L.T. to its menu in the U.S., there a good chance Beyond Meat Inc. won’t be the only plant-based burger provider the quick-service giant partners with, UBS said Tuesday. McDonald’s MCD, +0.13%announced in September that it was testing the P.L.T., or plant, lettuce and tomato, in Ontario, Canada. Analysts question whether the test […]

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Ex-CEO of Bumble Bee Foods convicted in tuna price-fixing conspiracy

SAN FRANCISCO — The former CEO of Bumble Bee Foods was convicted Tuesday for his part in a canned tuna price-fixing conspiracy involving the industry’s top three companies, federal prosecutors said. A jury in San Francisco found Christopher Lischewski guilty after a four-week trial, the U.S. Department of Justice said in a release. He had pleaded not guilty. Prosecutors said […]

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