Cannabis Stocks Declined -9.9% in May; Now -43.7% YTD
The largest Canadian Licensed Producers (LP), as tracked in the Canadian Pure-play LP Pot Stock Index, is down by 15.6% in May. [more]
The largest Canadian Licensed Producers (LP), as tracked in the Canadian Pure-play LP Pot Stock Index, is down by 15.6% in May. [more]
The U.S. House of Representatives passed the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act on March 25th and that initially led investors hoping for quick passage of a Senate bill to match the bill passed in the House. Last week, however, Senate Majority Leader Chuck Schumer said he would not be introducing the Senate’s version of the House’s act, called the Cannabis Administration & Opportunity Act (CAOA), until toward the end of April. [more]
Seven major consumer and pharmaceutical corporations have bought into cannabis companies to take full advantage of this rapidly growing market. This article compares their YTD stock performance with that of their cannabis partner. [more]
Other major events and reports related to the cannabis industry include: Cannabis Treatments for COVID-19; Canopy Growth loses two executives; Green Thumb Industries triples revenue; Tilray hopes to be profitable by year-end; United Cannabis files for bankruptcy. [more]
At current pace of operation & CAPEX spending, Aurora and Curaleaf have less than two quarters of runway left while iAnthus defaults on debt payment and MedMen needs $250M to execute turnaround plan. [more]
Aurora lays off 500 employees and writes down $1B; Hexo dismisses 200 employees and writes down $270M; Canopy closes two facilities with 500 employees and stops plans for third facility; many U.S. listed cannabis companies fall under $1/share; Canopy closes all retail stores. [more]
Horizons Marijuana Life Sciences ETF (TSX: HMMJ), the first established cannabis ETF, has fallen almost 60% in share price in the past year and Evolve Funds Group announced it will be shutting down of two of its cannabis focused ETFs [more]
Cannabis companies saw their stock prices fall quarter after quarter as the top nine cannabis companies are currently on average half the value of what they were one year ago. [more]
On August 14, 2019, Canopy reported FQ1/2020 earnings, the first earnings report after the Company’s board terminated Bruce Linton, the previous CEO of the Company. [more]
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