Triplepoint Venture Growth BDC Corp
Change company Symbol lookup
Select an option...
TPVG Triplepoint Venture Growth BDC Corp
RVNC Revance Therapeutics Inc
ZFGN Zafgen Inc
SFOR StrikeForce Technologies Inc
SPLV Invesco S&P 500® Low Volatility ETF
USMV iShares Edge MSCI Min Vol USA ETF
HULYX Hawaiian Tax-Free Trust Class Y
ORNCD Oranco Inc
ATGE Adtalem Global Education Inc
NUV Nuveen Municipal Value Fund
Go

Financials : Capital Markets | Small Cap BlendCompany profile

TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company's investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC's (TPC) select group of venture capital investors. The Company targets investment opportunities in venture growth stage companies backed by venture capital investors. The Company originates and invests primarily in loans that have a secured collateral position and are used by venture growth stage companies to finance their continued expansion and growth, equipment financings and, on a select basis, revolving loans. The Company is managed by TPVG Advisers LLC.

Closing Price
$16.40
Day's Change
-0.03 (-0.18%)
Bid
--
Ask
--
B/A Size
--
Day's High
16.49
Day's Low
16.30
Volume
(Light)
Volume:
170,315

10-day average volume:
240,879
170,315

UPDATE: Cannabis stocks rise as banking bill advances, investors await Canopy earnings

2:21 pm ET June 7, 2019 (MarketWatch)
Print

By Ciara Linnane, MarketWatch

Aurora Cannabis, Aphria and Organigram to provide cannabis to Pax for use in vapes

Cannabis stocks were mostly higher Friday, rising with the broader market after a weaker-than-expected May jobs report bolstered expectations that the Federal Reserve will cut interest rates sooner rather than later.

The Dow Jones Industrial Average was up 290 points in midday trade (http://www.marketwatch.com/story/stock-market-poised-to-rise-ahead-of-friday-jobs-report-2019-06-07), after news that the economy added just 75,000 new jobs in the month, (http://www.marketwatch.com/story/us-creates-just-75000-jobs-in-may-and-wage-growth-slows-in-warning-sign-for-economy-2019-06-07) well below forecasts for 185,000. The number fueled fears that the U.S. economy is slowing as trade tensions between the U.S. and China and Mexico persist.

"The cannabis sector was looking oversold after a recent major selloff," said Korey Bauer, portfolio manager of the Cannabis Growth mutual fund recently launched by Foothill Capital Management. "Overall risk assets are doing well as the weak jobs number and wage growth are a signal that the Fed may have to move soon."

On the regulatory front, the effort to protect banks that do business with cannabis companies from federal enforcement action made progress this week, he said.

A bipartisan cannabis banking bill, the Secure And Fair Enforcement (SAFE) Banking Act, is moving closer to a full floor vote after it was placed on the Union Calendar, as advocacy site Marijuana Moment reported (https://www.marijuanamoment.net/bipartisan-marijuana-banking-bill-quietly-advances-in-house-as-floor-vote-approaches/). Nearly half of all House members -- 206 -- have signed onto the SAFE Act as co-sponsors.

Read now:Push for legislation allowing banks to serve the cannabis business is gaining momentum (http://www.marketwatch.com/story/push-for-legislation-allowing-banks-to-serve-the-cannabis-business-is-gaining-momentum-2019-05-20)

Also: Cannabis stocks fall after FDA hearing on CBD finds conflicting views of substance (http://www.marketwatch.com/story/cannabis-stocks-fall-after-fda-hearing-on-cbd-finds-conflicting-views-of-substance-2019-06-03)

"It's starting to gain traction, which is good although I still think we are a bit away from passage. But it's clearly moving in the right direction," said Bauer.

The next big milestone for the sector is earnings from market leader Canopy Growth Corp. (WEED.T) (WEED.T) due Thursday and which will set the tone for the sector. Canopy is the biggest company measured by market value, thanks to a $4 billion investment from Corona beer distributor Constellation Brands Inc. (STZ)

See also:An entire industry is being built around CBD, but we really don't know that much about it (http://www.marketwatch.com/story/an-entire-industry-is-being-built-around-cbd-but-we-really-dont-know-that-much-about-it-2019-05-15)

The company is expected to post a loss of 25 Canadian cents, according to FactSet analysts, which would be narrower than the 31 cents loss posted a year ago. But revenue is expected to soar to C$90.9 million from C$22.8 million.

"Because it's the biggest, there'll be a follow-the-leader type action, so a strong result will lift all boats," said Bauer. "Investors will be looking closely at price and margins as everyone adjusts their numbers based on what the big companies are doing."

Canopy shares were up 2%.

Cannabis Watch: For more of MarketWatch's coverage of cannabis companies (http://www.marketwatch.com/story/an-entire-industry-is-being-built-around-cbd-but-we-really-dont-know-that-much-about-it-2019-05-15)

Neptune Wellness Solutions Inc. shares (NEPT.T) soared 17%, after the company announced an agreement with Tilray Inc (http://www.marketwatch.com/story/neptune-wellness-signs-3-year-extraction-purification-deal-with-cannabis-company-tilray-2019-06-07). to provide extraction and purification services. Under terms of the three-year agreement, Neptune will receive a minimum volume of 125,000 kilograms of cannabis and hemp biomass to be processed, with the first year expected to represent one-fifth of total volumes. The first shipment is expected to be received in September 2019.

Tilray shares (TLRY) rose 4.2% on the news.

Pax Labs Inc. announced a series of deals with cannabis companies Friday (https://finance.yahoo.com/news/pax-labs-partners-canadian-licensed-131500819.html) (https://www.prnewswire.com/news-releases/aphria-adds-to-planned-portfolio-of-vapes--concentrates-with-pax-labs-agreement-300863846.html)to procure cannabis extracts that will be used in pods designed to be used with Pax's Era device and platform. The company will launch Pax pods for adult-use consumers and medial patients once Canada allows the sale of derivatives later this year.

Pax has already sold more than 500,000 Era devices for oil concentrates in U.S. states that have legalized.

Pax is partnering with Aphria Inc., Aurora Cannabis Inc., Organigram Holdings Inc. and Supreme Cannabis Co. Inc.

"We think vapes will be a major form factor in Canada and these companies are teaming up with one of the leaders in vaporizers," said Bauer.

Aphria shares (APHA.T) (APHA.T) rose 6.9%, Aurora (ACB.T) (ACB.T) was up 2.7%, Organigram (OGI.V) added 3.3% and Supreme Cannabis (FIRE.T) was up 4.9%.

Elsewhere, Valens GroWorks Corp.was up 7.7%, Aleafia Health Inc. (ALEF.T) was down 0.4%.

Green Growth Brands Inc.was up 1%. Green Organic Dutchman Holdings Inc.(TGOD.T)(TGOD.T) was up 1.1%.

Read:How living near a marijuana dispensary affects your home's price (http://www.marketwatch.com/story/on-420-consider-how-living-near-a-marijuana-dispensary-affects-your-homes-price-2019-04-20)

The Horizons Marijuana Life Sciences ETFwas up 1.9%, and the ETFMG Alternative Harvest ETF(MJ)was up 2.2%.

The S&P 500 was up 1.1%.

See now: The No. 1 reason adults are interested in legalized cannabis (it's not to get high) (http://www.marketwatch.com/story/1-in-3-us-adults-is-interested-in-using-legalized-cannabis-but-not-for-the-reason-youd-think-2019-06-05)

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

June 07, 2019 14:21 ET (18:21 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2019 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2019. All rights reserved.