When Aurora Cannabis Inc. announced last week that co-founder and Chief Executive Terry Booth would retire, it also revealed another loss to come: A quarterly deficit of roughly a billion dollars. Aurora ACB, -1.28% ACB, -1.44% is scheduled to report fiscal second-quarter results Thursday morning, and it is expected toRead More →
Aurora Cannabis Inc. stock is set to go to $1, according to an analyst. In a note to clients late Thursday, Piper Sandler analyst Michael Lavery downgraded the cannabis producer to the equivalent of a sell and issued a $1 target price, down from $3. Lavery cited risks related toRead More →
Though 2019 was a brutal year for weed stocks in Canada and the U.S., that meant it was a stellar year for short sellers, who harvested nearly $1 billion from shorting the top 20 cannabis companies according to a new analysis. As the sector entered the year with big promisesRead More →
Aurora Cannabis Inc. reported a 24% sequential decline in revenue Thursday, reporting sales of C$75.3 million ($56.8 million) versus C$98.9 in the previous quarter, as the company slows its expansion plans in Canada and abroad. U.S.-traded shares of Aurora ACB, -7.32% ACB, -6.61% fell more than 11.6% in the extendedRead More →
Tilray Inc. sold nearly five times more pot than last year to beat Wall Street expectations in a Thursday quarterly earnings report, but losses widened. Tilray TLRY, -1.60% reported a third-quarter net loss of $35.7 million, or 36 cents a share, versus $18.7 million, or 20 cents a share, inRead More →
Cannabis producer Hexo Corp. will shut down several facilities it operates near Niagara Falls, Ontario, as a result of 200 layoffs it announced Thursday, according to people familiar with the matter. Hexo HEXO, -6.32% HEXO, -5.70% did not respond to phone and email requests for comment. It was not immediatelyRead More →
Aurora Cannabis Inc. is expected to report fiscal fourth-quarter earnings Wednesday after the closing bell. The company says it will host a conference call at 9 a.m. Eastern time Thursday. What to expect Earnings: Analysts expect adjusted earnings per share of C$0.05 and unadjusted earnings of C$0.06, according to Bloomberg.Read More →
TORONTO — Until very recently, Canopy Growth Corp. Chief Executive Mark Zekulin rarely spoke to the news media, relying on boisterous co-CEO Bruce Linton to spread the company’s message and communicate with shareholders. Canopy’s CGC, -1.55% WEED, -2.06% board, controlled by Constellation Brands Inc. STZ, +0.98% after its $4 billionRead More →
Cannabis stocks fell for a third straight day Monday, shrugging off gains in the broader market as the bearish sentiment that has hurt the sector all summer continued to weigh. The ETFMG Alternative Harvest ETF MJ, -0.52% was down 1.1%, with 25 of its constituent stocks trading lower. The HorizonsRead More →
Canopy Growth Corp. reported a C$1.28 billion quarterly loss late Wednesday and missed analyst estimates for revenue, sending shares down 10% in after-hours trading. The world’s largest cannabis company by market value, Canopy Growth CGC, -6.64% WEED, -5.76% reported fiscal first-quarter net losses of C$1.28 billion, or C$3.70 a share,Read More →
A day after revelations that Health Canada had seized unlicensed cannabis CannTrust Holdings Inc. was growing in Ontario, a Danish company said it sold some of that illegal pot to its patients, increasing the likelihood of further penalties. A Denmark-based medical cannabis company said Tuesday that it had received aRead More →
Zenabis Global Inc. did the unlikely Tuesday: The cannabis company raised cash without going to a group of hedge funds in Canada that deploy aggressive trading strategies to recycle capital in the pot industry. Zenabis opted to ink a C$30 million ($22.9 million U.S.) cannabis supply deal with rival producerRead More →
As recreational marijuana moves beyond buds, and countries besides Canada mull legalization, cannabis companies have a lot of potential roads to travel as they seek to grow. Aurora Cannabis Inc. ACB, +3.58% ACB, +3.09% , the second-most valuable marijuana producer in the world, is establishing a different path than someRead More →
TORONTO — Aurora Cannabis Inc. is one of only two major Canadian cannabis companies with a market value of more than $1.5 billion that has yet to ink a partnership or investment deal with a major U.S. company, but that’s because a rich American advised executives not to do it.Read More →
TORONTO — Cronos Group Inc. is one of two Canadian cannabis producers to have inked a multibillion-dollar deal with a big American company. The $1.8 billion investment Marlboro maker Altria Group Inc. MO, +2.68% made in Cronos CRON, +3.87% CRON, +3.13% in December legitimized overnight a company that produces farRead More →
Canopy Growth Corp. is not outright acquiring Acreage Holdings Inc., as reports said Wednesday, but it is preparing to pay billions for the rights to buy the U.S.-based pot company. A source familiar with the negotiations confirmed Wednesday afternoon that a Canopy Growth CGC, +2.81% WEED, +2.81% deal with AcreageRead More →
Aurora Cannabis Inc. nearly quadrupled its revenue and claimed a strong market share in an earnings report Monday that detailed the first quarter of legal recreational-pot sales in Canada, but also showed off large losses and a shrinking margin. Aurora ACB, -5.53% ACB, -4.52% disclosed losses of C$237.8 million onRead More →
Recreational marijuana was legalized in Canada last October. The smoke signals are about to arrive on Wall Street. Two of the largest publicly traded Canadian cannabis producers, Aurora Cannabis Inc. ACB, -2.32% ACB, -3.40% and Canopy Growth Corp. CGC, -3.11% WEED, -3.40% , will release earnings reports in the comingRead More →
New York Gov. Andrew Cuomo’s plan to legalize cannabis for adult recreational use in the Empire State is a milestone in the push toward full legalization of the substance in the U.S., experts said Wednesday. Cuomo said Tuesday in his State of the State speech that he’s including in hisRead More →
In the illegal drug business, there is a lot of money and safety in wholesaling — being a middleman instead of producing drugs or selling them on the street. As marijuana finds legitimacy, it may end up producing the same kind of system, judging by a California company that hasRead More →
