After the first nearly full quarter of recreational cannabis sales, the world’s largest pot producers had a shot to prove they belonged among blue-chip stocks.For a sector crawling toward legitimacy, the first crop of recreational cannabis earnings did little to dispel longstanding clichés about those involved in the industry.
• Acreage Holdings Inc. ACRGF, +0.60% the company Canopy Growth purchased the right to buy pending U.S. marijuana legalization, issued a press release containing “highlights from statements of financial position,” but did not release the dozens of pages of documents outlining underlying assumptions or details for the figures. It took several weeks for Acreage to release the full financial tables and management discussion and analysis. Acreage, however, is in good company: Aurora Cannabis Inc.
What to expect next week March-quarter marijuana earnings kicked off in earnest this week, with reports from Altria Group Inc. MO, +0.09% -backed Cronos Group Inc. CRON, +9.23% , CRON, +6.82% GW Pharmaceuticals GWPH, -2.30% which makes a drug from cannabidiol, or CBD, called Epidiolex that’s designed to treat epilepsy — and Canadian cannabis and alcohol retailer Alcanna Inc. CLIQ, -1.95% LQSIF, -0.
Aurora earnings are set to hit late Tuesday, though they usually don’t publish the documents for a couple of hours after the closing bell. The company will host its conference call before the opening bell Wednesday. According to GMP Securities analyst Martin Landry, investors should expect third-quarter sales of C$74 million , limited in large part by provincial caps on retail stores around the country.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lyft to face first major test as public company with quarterly revealLyft Inc's first quarterly report on Tuesday as a public company is expecte... Lyft And Uber Drivers Are Going On Strike Tomorrow, May 8 Do Not Take Any Lyfts Or Ubers Tomorrow Do Not Cross Our Picket Lines
Source: Reuters - 🏆 2. / 97 Read more »
Microbiome-testing company uBiome has suspended its medical tests following an FBI raidMicrobiome-testing company uBiome has suspended its medical tests following an FBI raid. We got the letter it sent to customers. She’s a co-founder so why only show her photo. Where’s the photo of the other founder.. sexism much!!!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Cannabis company Tilt names Mark Scatterday interim CEOTilt Holdings Inc. said Friday it has named entrepreneur Mark Scatterday as interim chief executive, while it continues a search for a permanent chief. Scatterday was most recently founder of Jupiter Research, a provider of vaporization and inhalation devices for the cannabis industry, which is now a wholly owned unit of Tilt. Cambridge, Mass.-based Tilt was formed by a four-way reverse merger and began trading on the Canadian Securities Exchange last last year. The company made headlines last week when it took a goodwill impairment charge of roughly $500 million in its first quarterly earnings report since going public, leading to a massive loss of $554.5 million on sales of just $5.7 million. Then chief Executive Alex Coleman, who has left that role but remains chairman, told MarketWatch that the charge was because the company used one methodology on Dec. 6, 2018, to value the companies that merged to form Tilt Holdings, and a different set of standards on Dec. 31. Shares were not active premarket, but have fallen 52% in 2019, while the S&P 500 has gained 5.4%.
Source: MarketWatch - 🏆 3. / 97 Read more »
U.S. Cannabis Companies See Finance Terms ImproveWhile federal legalization in the U.S. is still uncertain, banks may soon get the green light to work with legal cannabis companies Of course, yall love money more than the people. Oh, I bet, they(BANKS) smell the $$$$$$$$$$$&$$$$$$$$$$$$&$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$!$!!$!!$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Legal what?
Source: Forbes - 🏆 394. / 53 Read more »
Montana man's DNA oldest found on the continent, testing company saysDNA testing company calls Darrell 'Dustry' Crawford's test results 'like finding bigfoot.' “Blackfeet ancestors” Very interesting, but I'm hesitant to have my DNA examined for fear that it will end up in the wrong hands or be misused. Technology is getting scary. We now have the tools to profile every person on the planet. Fantastic! Ok I will buy you a beer! Now for the next 17 k years!
Source: USATODAY - 🏆 100. / 63 Read more »
Disney reports earnings after the bell, as the company caps a big quarterDisney closed its acquisition of Fox's entertainment assets during the quarter. The company has since unveiled details for its Disney+ streaming service, which will launch this fall. $DIS bullish
Source: CNBC - 🏆 12. / 72 Read more »
Apple has bought around two dozen companies in the past 6 months, Tim Cook saysThey don’t always make headlines, but Apple Inc. has been snapping up companies at a rapid pace recently. Monopoly At what point do they buy a leading company in Electric transport and autonomous driving Tesla which is being run by Elon Musk a brilliant visionary but clearly bipolar. Tesla needs the cash and Apple needs the tech.
Source: MarketWatch - 🏆 3. / 97 Read more »