Tilray Inc. reported a wider first-quarter loss in the face of revenue headwinds and the impact of unfavorable currency conversions to U.S. dollars, but CEO Irwin Simon said the cannabis Read more
Tag: Horticulture
Cannabis stocks rocketed to record day after Biden lit the fuse
Cannabis stocks shot to record gains Thursday after President Joe Biden formally sought to review how marijuana is classified under federal law, a change that pot companies in the U.S. Read more
Biden asks agencies to review marijuana’s classification, pardons prior federal-possession offenses
President Joe Biden on Thursday said he will pardon all prior federal offenses of simple possession of marijuana, and asked U.S. agencies to review how the drug is classified. “There Read more
Canopy Growth sells retail operations but likely got much less than it paid for them, analyst says
Canopy Growth Corp. is likely selling its retail stores for much less than it paid for them, but the cannabis company that continues to generate losses said the move will Read more
Analyst slashes revenue outlook for Trulieve, Curaleaf, Canopy, Cronos as cannabis business takes a hit
Jefferies analyst Owen Bennett trimmed revenue expectations for four major cannabis names from the U.S. and Canada, but kept his ratings intact on the heels of quarterly updates from Curaleaf Read more
Curaleaf CEO sees cannabis as recession resistant, but stock falls after wider loss
Curaleaf Holdings Inc. Chief Executive Matt Darin said inflation impacted some of the cannabis company’s customers, but it still managed to beat its revenue target despite a wider quarterly loss. Read more
Green Thumb Industries notches eighth profitable quarter in a row in U.S. cannabis
Green Thumb Industries Inc. navigated a more uncertain economic environment and managed to beat Wall Street estimates with its eighth quarterly profit in a row. The cannabis company active in Read more
Cannabis SPAC Choice Consolidation returns money to shareholders
The CEO of SPAC Choice Consolidation Corp. said a decision by the special purpose acquisition company to return money it raised in 2021 in its initial public offering represents the Read more
Seaport Global touts discounted cannabis stocks as a recession play
Seaport Global Securities LLC analyst Sonny Randhawa on Friday launched coverage of eight U.S. cannabis companies and assigned buy ratings to all of them as an undervalued group. He predicted Read more
Short positions ease back on cannabis stocks, but shares remain deeply in the red
Short interest in cannabis stocks has fallen in a sign that investors are placing fewer bets that the sector will weaken, according to fresh numbers this week. But cannabis stocks Read more