The cannabis sector is constantly changing. It’s tough for even season investors to keep up. That’s why we’ve collected 10 of the most important cannabis stories from the last couple of weeks and broken them done for you right here.
10. CFN Media interviews Red White & Bloom CEO Brad Rogers in Benzinga Chicago
Brad Rogers, CEO of Super State Operator Red White & Bloom goes deep with Greg Hasty of CannabisFN. CFN Media, one of the largest financial networks focused on cannabis has just published an interview with the CEO of Red White & Bloom (CSE: RWB – IPO Soon), Brad Rogers. The video interview took place at the Benzinga Cannabis Capital Conference in Chicago last week.
9. Super Bowl champion Rob Gronkowski joins Abacus Health to promote CBDMEDIC 3 times
Gronkowski is ready for CBD ‘Gronk Spike’ market with a new CBDMEDIC commercial business. Multiple injuries and first-hand experience with the CEO of Abacus Health Products convinced Gronk to join the CBD wave.
8. “Fickle and ignorant” Canadian retail investors held responsible for cannabis storage
The trajectory of cannabis stocks can change dramatically as institutional investors begin to get involved. With large institutions still reluctant to invest in cannabis, Canadian retail investors continue to dominate the public offerings of many cannabis stocks, especially those based in the U.S.
7. MedMen doubles revenue while EBITDA loss triples, MMEN stock drops while playful spending continues
After weak fourth-quarter earnings, MedMen changes $250 million in Gotham Green Credit Facility. MedMen released its fourth-quarter results yesterday after the closing of the bell and the “Apple Store of Weed” disappointed investors once again.
MedMen recorded revenue of $42 million in the fourth quarter, an increase of 104% year on year. However, MedMen’s adjusted EBITDA loss for the full year was more than triple compared to that of 2018.
6. All dry: How Bay Street profited from the marijuana frenzy before the massacre
The warning signs were there all summer. It wasn’t until the first of September that the day of the settlement of scores arrived. After markets closed on Sept. 3, Aurora Cannabis tried to sell its 10.5% stake in The Green Organic Dutchman to public investors. The sector’s original financiers have now moved on to more promising U.S.-based companies, or are completely out of the sector.
5. Hexo Corp. reports fourth-quarter earnings
HEXO records revenue of $15.4 million, a loss of $56.7 million. Hexo Corp reported financial results for the fourth quarter of 2019, recognizing net revenue of $15.39 million during the quarter, recording a total net loss of $56.68 million.
4. Canopy Growth reveals new cannabis drinks and edibles
Canopy has also introduced 2 THC-infused beverages under its Seth Rogen-supported home plant brand. Canopy Growth has launched its first batch of cannabis drinks and chocolates, with products ranging from psychoactive ginger ale, to CBD-infused cucumber and mint soda water, to cocoa “Bean & Bud” medallions.
3.HEXO secures Health Canada’s 2.0 cannabis licenses, Flow Glow CBD beverage should hit the shelves soon
New HEXO licenses allow the sale of edible products, beverages, extracts and cannabis topics. HEXO Corp and partner JV Molson Coors expect to launch their new Flow Glow CBD drink in December.
2. Forget Canada, cannabis 2.0 is really the birthplace of the U.S. market
Is a diversified Canadian market really cannabis 2.0? Or is it the huge opportunity south of the border? All Canadian cannabis stocks face headwinds and yet they trade for heavy multiples. The prices are unjustified until the real prize in the U.S. market comes into play – and they are the United States.
1. Veritas Farms secures distribution contract with Winn-Dixie stores
There are various investment opportunities to gain exposure to the cannabis market. You can invest directly in shares of companies like Veritas Farms Inc. (OTC: VFRM), an increasingly successful producer and distributor of CBD products.
For example the company recently secured a distribution contract with 152 Winn-Dixie and BI-LO stores to supply them with the Veritas range of full-spectrum hemp products. This deal represents a big step forward for the company and the CBD industry generally.
Their 140-acre industrial hemp farm and manufacturing facility is based in Pueblo, Colorado, where the company’s eight product categories with over 60 SKUs come from.
Veritas Farms is focused on transparency and delivering high-quality products. They recently released a QR code packaging with which customers can check the products’ quality on their smartphones.
In only four years of operations, since 2015, the company experienced impressive growth. In Q2 2019 Veritas generated more than $2.9 million in total revenue and that is a 500% increase since Q2 2018. Their gross profits reached $1,523,413 and thanks to great results, they managed to reduce the liabilities by over $1.3 million.
You can keep up on the latest hemp and cannabis news by checking out the Hemp.IM app. This app takes the latest cannabis stories and converts them into short chunks so you can get your daily download on the game.
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First published in SECHAT, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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