Marijuana Business News

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Fri
20
Mar

Cannabis Becomes Bright Spot In Pandemic World

It seems most businesses are reporting dismal outlooks during the pandemic. Event organizers, airlines, bars, restaurants, theatres – you name it everyone is suffering. Everyone except cannabis.

Business intelligence from Akerna (Nasdaq: KERN) said that cannabis sales are thriving during the COVID-19 pandemic. The company provided the following statistics:

The numbers March 11 – March 18:

Thu
19
Mar

2 Concerning Numbers That Highlight Some of the Biggest Marketing Challenges for the Cannabis Industry

Cannabis company Canopy Growth (NYSE:CGC) has brought some big-name star power to its brand over the years, including Snoop Dogg, Martha Stewart, Drake, and Seth Rogen. But one of the challenges in the cannabis industry, especially in Canada where regulations are very rigid, is that Canopy Growth can't easily use its size, resources, or branding to its advantage. Spending a lot more on marketing may not pay off in the industry, and that's no more evident than in the following two numbers.

Thu
19
Mar

The Coronavirus & CBD: Navigating Shifts in Consumer Behavior

Aggressive health measures to stem the spread of the Coronavirus or COVID-19 are changing everything, including the operation of CBD businesses.  And if there’s one thing CBD business owners are accustomed to, it’s change.

Dramatic shifts in in-store and online shopping patterns are palpable and have the potential to become permanent as consumers adjust to public health demands to go out less and shop online more. 

Thu
19
Mar
Thu
19
Mar

Hexo to delay Q2 results, expects up to $280M impairment

Hexo Corp. said Tuesday it will delay the release of its upcoming quarterly results due to “certain exceptional circumstances” and expects to report a “significant” impairment that could be as much as $280 million in the quarter.

The Gatineau, Que.-based cannabis producer didn’t specify the cause of the impairment which led Hexo to delay its fiscal second-quarter results, but noted it plans to release amended filings for its two prior quarterly reports later on Tuesday.

“The calculation of this impairment is complex and, while a value range for the impairment is known, the final amount remains to be determined,” Hexo said in a statement.

It expects the range of its impairment charge to be between $265 million to $280 million.

Thu
19
Mar

Canadian Border Closure Effect On Cannabis Companies

As the Covid 19 quarantine measure continue, President Trump tweeted, “We will be, by mutual consent, temporarily closing our northern border with Canada.” He said trade would not be affected. However, many cannabis companies have operations in both countries.

Thu
19
Mar

Postal Service losing track of pot-filled packages in its possession

The U.S. Postal Service is having a little trouble with the mail.

An audit of the federal agency, which specifically looked at how it handles cannabis-infused shipments, revealed that more than 200 packages believed to contain the drug went missing during internal shipments in 2019, Marijuana Moment reports.

According to the audit, 188 of the 15,941 confiscated packages went missing after discovery by an inspector; it attributes the problem, in part, to pot’s pungent smell and inspectors not using suggested mailing methods that would obscure the odour and prevent “the risk of theft by postal employees processing this mail.”

Wed
18
Mar

Are Cannabis Stocks Worth Buying Right Now

The coronavirus has had a big impact on the world’s economy, and even more so on the financial cannabis market. While the S&P Index has seen a 17% drop, various marijuana companies have experienced a drop of 30% and more. Of course, this raises the question of whether it’s a good time to buy cannabis stocks right now, and if there’s any chance of finding a bargain.

Wed
18
Mar

Cannabis delivered to your door? Only if you live in some parts of Canada

Amid the coronavirus outbreak, Canada Post is no longer delivering packages that require a signature or proof of age to customers’ doors. For the majority of Canada’s cannabis consumers, that means they will need to pick up their packages at a nearby post office.

Recreational consumers living in Saskatchewan, Manitoba, and select regions of Ontario, can still get service to their door, even on the same day.

Wed
18
Mar

Canadian pot stocks among those to score at bargain prices amid coronavirus backlash

The stock market is struggling amid coronavirus mayhem, and many pot stocks, including those for some Canadian companies, are struggling right along with it.

The BI Global Cannabis Competitive Peers Index has sunk 43 percent, bringing its overall 12-month deterioration to roughly 81 percent. Some cash-strapped companies are unlikely to survive the crisis.

“We believe focus among cannabis investors has shifted to minimizing downside; in other words, evaluating cannabis stocks from a liquidation perspective, simply comparing market capitalization to net cash balances,” John Zamparo, an equity research analyst at CIBC Capital Markets, reported in a note last week.

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