Thursday , March 30 2023

Brink's armored vehicles enter the cannabis market.


Brink & # 39; s best known for armored trucks, It may have entered the cannabis market as a derived service. company Signed a multi-year contract with Canopy growth. For offeringr "Safe logistics services and cash management" For cannabis companies, International shipping of marijuana included, The company announced on Thursday.

This is likely to increase Brink's stocks and even qualify them to be included in listed funds focused on hemp, such as the ETFMG Alternative Harvest ETF. James Clement, Analyst Buckingham Research GroupThis gives Brink a purchase price and a target price of $ 110.

Clements pointed out that it would be safer to join the marijuana market without betting on marijuana stocks on Friday.

Brink shares rose 1.8% in the early hours of the operation.

"Most of the so-called" cannabis stocks "are not profitable and are sold in comparison to stratospheric multiples of revenues and Brink's. "Brink's investors can be exposed to cannabis without the risk of a market-recognized valuation bubble," he said.

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