Marijuana Business News

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stocks
business
Wed
06
Nov

Too much weed: Canadian cannabis producers are sitting on a mountain of inventory, and it's making some industry watchers nervous

Canadian cannabis producers and extractors are sitting on a massive stash of unfinished inventory that is growing so quickly that some analysts are concerned it could precipitate a price crash in the burgeoning industry.

Since January of 2019, the amount of unfinished inventory of dried cannabis has nearly tripled, reaching a staggering 328,000 kilograms at the end of August. That compares to roughly 118,000 kilograms eight months earlier, according to Health Canada data.

Wed
06
Nov

2 stocks that are crashing fast!

It can be challenging to witness stocks that you have invested in on the decline, right before your very eyes. You look for stocks that can provide you with high returns in the future. Facing losses is the last thing you want to think about when investing in stocks.

However, stocks in a volatile industry are prone to both significant gains and crippling losses. I think you would agree that one of the most volatile sectors operating on the TSX right now is the legal marijuana industry.

Companies rose to phenomenal heights in anticipation of the legalization of recreational marijuana. In lieu of reaching profitability and rising to greater heights, pot producers are struggling to achieve profitability.

Wed
06
Nov

'We are calling the bottom': Analyst sees brighter outlook for pot stocks

A New York-based analyst says Canada’s cannabis sector has bottomed out, predicting several positive events in the coming year should catalyze pot stocks as valuations trade at two-year lows.

Cantor Fitzgerald Analyst Pablo Zuanic, who initiated coverage of six cannabis stocks Monday, said in a report to clients that several pot companies are attractive at current levels based on the long-term opportunity and that concerns hanging over the sector are priced in and overdone.

Tue
05
Nov

Marijuana stocks to buy or avoid in November

Marijuana stocks have been through their own share of highs and lows so far this year. Despite being a fast growing industry, supply issues in Canada have affected legal marijuana purchases of late.

High tax rates in some of the U.S. states as well as increase in black-market producers, especially in North America, have hurt sales. As a result, marijuana companies have been seeing a drop in operating margins across the board and have significantly lost value.

Yet, as we focus on November, there are three marijuana stocks that look like solid bargains, while one in particular should be avoided in the near future. Let us take a look —

Tue
05
Nov

3 reasons “cannabis 2.0” is ridiculously overrated

This past October,

Tue
05
Nov

Legal cannabis might not kill illegal market

HEXO (HEXO), one of the important players in the cannabis space, has been in the news for a while now.

The company reported its fourth-quarter earnings on October 28. HEXO’s preliminary results were disappointing with lower revenues.

In the fourth-quarter earnings call, the company discussed how it thinks that legal cannabis won’t solve the problem with the illegal market in Canada.

Let’s discuss what HEXO’s management said.

Tue
05
Nov

New edible cannabis products could be here for Christmas

Hungry for cannabis

Cape Bretoners are hungry for cannabis.

Beverly Ware, spokesperson for the Nova Scotia Liquor Corporation, confirmed customers have been asking about edibles. 

Ware said under federal regulations the corporation cannot legally purchase edible and drinkable cannabis until Dec. 16. On Oct. 17, licensed producers submitted their products for consideration, a 60-day process. No decisions have been made on what products the NSLC may carry.

Ware said when they receive the new products will depend on their suppliers but there is the possibility some could come in prior to Christmas.

Tue
05
Nov

Aphria's newly-licensed facility to run at full capacity: Interim CEO

Aphria Inc. plans to bring its newly-licensed Diamond facility to full capacity in the coming weeks to meet demand for vaping and edible products, the company’s chairman and interim CEO said while shrugging off any concern about oversupplying the Canadian cannabis market.

The Leamington, Ont.-based company announced Monday it received a cultivation licence from Health Canada for a cannabis greenhouse facility that will add 1.3 million square feet of production space and 140,000 kilograms in annual capacity to its operations.

Tue
05
Nov

Vancouver city council to consider regulations on sale of vape products, ads

A motion being brought before Vancouver city council on Tuesday will look at regulations on the sale and advertisement of vaping and vape-related products.

Currently, the City of Vancouver does not impose restrictions on where vape retail shops can be located in the same way that it does with liquor stores or cannabis shops. There is also no license category for retailers selling vape products.

Tue
05
Nov

Edmonton city councillor calls for more cannabis laws ahead of edibles rollout

Edmonton city councillor Mike Nickel thinks towns across the country are neglecting regulations for cannabis cafes.

“Cannabis lounges are going to come,” he told Global News. “No other place in the country right now, I don’t think, has enabled in their bylaws the concept of a cannabis lounge, so we’re breaking new ground here.”

Council will debate Nickel’s motion in their upcoming meeting on Tuesday.

“If it’s a legitimate product, then we have to see it consumed responsibly,” he said.

“This is an opportunity to talk about how we can grow some business in town.”

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