Marijuana Business News

Synonyms: 
stocks
business
Mon
20
Jan

Rapid growth of Charlottetown cannabis production plant surprises even company president

As a fourth-generation farmer, Edwin Jewell has always known how to grow things, but even he didn’t see this coming — at least not this quickly.

The president and CEO of Figr East, the cannabis-production plant in Charlottetown’s BioCommons Research Park, unveiled this week an additional 210,000 square feet at the plant, a significant upgrade from the 24,000 square feet he had about two years ago.

To put things in perspective, the Figr East plant is now the size of about six football fields.

When he initially decided to take the plunge in January 2013, he told his wife it was a huge risk and if it didn’t work out they’d literally be living in a tent.

Mon
20
Jan

Canopy stalls launch of pot-infused drinks as growing pains persist

Canopy Growth Corp. said Friday the company plans to delay the launch of its cannabis-infused drinks as the pot giant takes more time to complete the build-out of its bottling facility for commercial production.

Canopy didn’t specify when it plans to make its various pot-infused beverages available for sale. It previously stated it would have its drinks on store shelves in early January. The company said in a statement Friday that it does not believe the delay will have a material impact on its revenue for its 2020 financial year, which ends in March, and will provide an update when it releases its third-quarter results on Feb. 14.

Canopy submitted its final documentation for its beverage facility to Health Canada last June and received its licence in late November.

Mon
20
Jan

2 Marijuana Stocks To Watch Before February

January has already been quite the month for marijuana stocks. In only the past few weeks, we have seen many of the top pot stocks in the industry climb substantially. While there are a few theories as to why this has occurred, it seems as though nothing is concrete at this point in time.

Mon
20
Jan

The Race For Canadian Cannabis Retail Dominance Is On

Read entire article here.

Although Canada’s recreational cannabis market failed to exceed expectations in 2019, the market faced significant headwinds, and this is a trend that seems to be abating.

We believe that two main factors will play a key role in how the Canadian cannabis retail market grows from here. These factors are related to the number of open dispensaries and the types of products that are allowed to be sold. In late 2019, the edibles and vape pens were legalized in Canada and we are bullish on the growth prospects associated with this vertical.

Mon
20
Jan

Calgary cannabis chocolatier swamped with orders

While other segments of the cannabis industry have fallen on turbulent times, Calgary chocolatier Brad Churchill is putting out the help-wanted sign.

Earlier this month, Health Canada granted his firm, Choklat, what’s likely the country’s only cannabis processing licence held by a stand-alone food maker.

“The floodgates have opened. I’m looking at the (order) numbers and I’m just floored,” said Churchill, who’s been making conventional chocolates at his northeast plant for the past 12 years.

“There are four cannabis companies lining up for the production of millions of chocolates — one company alone wants two million chocolate bars.”

Mon
20
Jan

Major Canadian pot companies facing proposed class-action lawsuits in the U.S.

Some of Canada's biggest cannabis producers are facing proposed class-action lawsuits in the United States after investors were hit with steep financial losses in the stock market.

At least nine U.S. law firms are pursuing cases against Canopy Growth, Aurora Cannabis and Hexo Corp. in American courts.

Although the allegations vary, each pot producer is accused of misleading investors or failing to disclose certain problems with their businesses. When those problems became publicly known, the lawsuits claim, share prices plunged and investors were stuck with losses.

"[Investors] are mad; they were taken by surprise," said Reed Kathrein, a lawyer at Hagens Berman Sobol Shapiro LLP, which is pursuing claims against all three producers.

Fri
17
Jan

Buy These Top Canadian Cannabis Stocks for Market Dominance

Cannabis stocks are facing a year in which they will finally have to put their money where their mouths are. Investors will need to see profitability from the full range of product types, and they will need to see it even before the retail environment is optimized.

While there is some bullishness that a relaxing of the retail stranglehold on cannabis sales will boost top lines this year, patience is wearing thin.

Fri
17
Jan

Ontario Cannabis Store runs out of edibles just hours after online sales began

The Ontario Cannabis Store was entirely sold out of its new edible products about five hours after they went on sale online Thursday morning.

OCS said that at 8:59 a.m. it had roughly 3,000 customers in its "digital lobby" waiting for the new products to become available online.

"In less than half an hour, we were sold out of the soft chew category and other edible products were becoming very limited," OCS communications director Daffyd Roderick told CBC News in an email.

All edibles were sold out by around 2 p.m.

"We now have no edibles available, but still have reasonable stock of vape cartridges and batteries," Roderick said.

Fri
17
Jan

The Race For Canadian Cannabis Retail Dominance Is On

Read entire article here.

Although Canada’s recreational cannabis market failed to exceed expectations in 2019, the market faced significant headwinds, and this is a trend that seems to be abating.

We believe that two main factors will play a key role in how the Canadian cannabis retail market grows from here. These factors are related to the number of open dispensaries and the types of products that are allowed to be sold. In late 2019, the edibles and vape pens were legalized in Canada and we are bullish on the growth prospects associated with this vertical.

Thu
16
Jan

5 of the Most Popular Pot Stocks Won't Be Profitable Until 2022 (at the Earliest)

It's truly incredible what a difference a year can make. Although the launch of dried flower in Canada didn't go as smoothly as expected, the widely held belief, as of Jan. 2019, was that cannabis stocks would be pushing into the profit column by the end of the year, if not early 2020.

However, the reality is that marijuana stocks are, for the most part, nowhere near profitability. In fact, some of the most popular pot stocks have reversed course and are even worse off than they were at this time last year, in terms of their bottom lines. According to Wall Street's consensus, the following five pot stocks have no chance of generating a recurring profit until 2022, at the earliest.

Pages

Subscribe to RSS - Marijuana Business News