Marijuana Business News

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stocks
business
Tue
07
Apr

2 Marijuana Stocks To Watch In April

Risk is something that is quite common in the cannabis industry. Whether investing in the short or the long term, cannabis stock investors usually encounter risk on a daily basis. Because of this, it can be a great tool to develop a strategy to stick with no matter what happens in the industry. Currently, marijuana stocks are taking a huge hit from the coronavirus. This pandemic has taken its toll on the whole stock market and not just pot stocks.

Tue
07
Apr

What Can You Expect from Marijuana Stocks in April?

Marijuana stocks were on a rollercoaster ride in March. After struggling in 2019, the marijuana sector didn’t start 2020 on a good note either. The Horizons Marijuana Life Sciences ETF (TSE:HMMJ) tracks the North American cannabis industry. HMMJ fell by 18.8% in March. Overall, the month didn’t start off well for the cannabis sector even before the coronavirus pandemic hit. Surprisingly, while COVID-19 has impacted other sectors, it has helped the cannabis sector. The demand for cannabis increased and sales rose. Cannabis stocks’ performance also improved. Let’s take a look at how cannabis stocks performed in March.

Tue
07
Apr

Cannabis bankruptcies start to roll in as pandemic halts financing

The cannabis bankruptcy filings are starting to roll in.

Already plagued by a tough regulatory environment, disappointing sales and capital markets that had closed to all but the strongest companies, the industry is now facing a pandemic-related collapse in stock markets and ever-shrinking financing options. Pot companies completed two capital raises worth just US$5.6 million the week ended March 27, according to data from Viridian Capital Advisors. That’s the lowest level of activity this year and compares to 17 capital raises worth $169 million for the same period in 2019.

Mon
06
Apr

No, cannabis isn’t recession proof, analyst says

Cannabis investors will learn the hard way that weed isn’t recession proof, and pot stocks will continue to fall in 2020 despite a modest March rally, says one analyst.

After a COVID-19-related sales bump helped push cannabis stocks higher last month, a round of disappointing earnings from Canadian players cut into those gains this week.

But Jerome Hass, portfolio manager at Lightwater Partners, Ltd., says the sector is still in bubble territory and shareholders should be bracing for more pain this year.

“The sector has dropped 80 per cent since last April, and it’s literally going to go down another 80 per cent this year,” Hass told Mugglehead from his Toronto home office. “I think this latest rally is delusional.”

Mon
06
Apr

Bars, cannabis sector eligible for $40B credit program from government bank

Devastated bars and lounges as well as the country's hard-hit cannabis sector will have access to $40 billion in new credit being made available via the government's business bank during the COVID-19 crisis, its CEO said on Sunday.

In an interview with The Canadian Press, Michael Denham said the program from the Business Development Bank of Canada would now be open to all businesses.

"Any legal business is eligible to be part of the program -- that was what I think some industry groups were concerned about," Denham said from Montreal. "That was clarified and we're going to formally announce it on Monday."

Applicants must go through their own banks to access the program.

Mon
06
Apr

HEXO co-founders, Wu-Tang Clan pitch in to help Ottawa Food Bank

The Ottawa Food Bank is getting a boost from one of Canada’s largest cannabis producers and one of the world’s most influential hip-hop groups.

In a video posted earlier this week on Twitter, Michael Maidment, the CEO of the Ottawa Food Bank, said the organization was in need of cash donations.

Mon
06
Apr

Pot shops want delivery or curbside pick-up options

The Ontario government’s decision to shut down cannabis stores in the middle of the COVID-19 pandemic will only send customers back to the black market where they’ll buy unregulated products, says one prominent retailer.

Cameron Brown, spokesman for the The Hunny Pot, says his company has two stores open already and four under construction. The company’s location in downtown Toronto was one of the first to open in April 2019 and has been doing brisk enough business that more stores are on the way.

He said after Premier Doug Ford announced pot shops would be closed due to COVID, his store in Toronto and another location in Burlington were swamped.

Mon
06
Apr

'People are certainly buying more': Cannabis stores attribute spike in sales to COVID-19

Legal recreational cannabis sales saw a spike in Alberta over the month of March according to some of the province's major retailers.

As the COVID-19 crisis began to hit the province, it appears as though pot smokers decided to stock up.

"We’ve seen a significant increase in sales, particularly as we entered into the COVID phase – in and around March 12 and that was sustained for about two weeks," Fire & Flower Chief Financial Officer, Nadia Vattovaz told CTV News from Toronto via video chat.

"We have since that time seen a little bit of a drop off, but it’s actually returning to pre-levels," she said.

Nova Cannabis reported a similar trend.

Mon
06
Apr

Shoppers rush to Ottawa cannabis stores before closure due to COVID-19 pandemic

Shoppers lined up at Ottawa’s cannabis stores to stock up before the stores are ordered to close during the COVID-19 pandemic. 

The Ontario Government removed cannabis stores from the list of essential businesses allowed to stay open during the COVID-19 pandemic.  All non-essential stores must close by 11:59 p.m. on Saturday, April 4.

There were long lines at the Stash & Co. Recreational Cannabis on Bank Street and the Fire & Flower Cannabis store on York Street Friday evening.

At Stash & Co., the line stretched half a city block.

Fri
03
Apr

Will These Marijuana Stocks Continue To Go Up In The Market?

As of midday on April 2nd, marijuana stocks have so far had quite a rally. Top companies in the industry such as Tilray have shot up by as much as 12% during the day, before climbing back to a respectable 2% gain. Many of the deductions being made about the cannabis industry have been on a short term basis. This is because it is extremely difficult to tell where the market will be in the next few months, let alone 2 weeks from now.

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