missed revenue estimates and saw its sales fall 15% quarter over quarter. The stock fell 14.4%.
Cash-starved cannabis companies have historically relied on their stocks as currency to make deals, because THC, the chief psychoactive component of marijuana, is federally illegal in the US and "But growth capital — that traditional later stage, B, C, D series capital — where the check sizes are anywhere from 25 to 150 million bucks? Good luck in cannabis," Sedlin said. "That doesn't exist."The story of the industry's rise and stumble, cannabis industry executives and experts say, goes something like this.
"What's going on in cannabis isn't unique to cannabis," said Jennifer Drake, a former Goldman Sachs managing director who is the chief operating officer of Ayr Strategies. "It's what happens when you have exuberance and free-flowing capital from retail investors."
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.
WPP employees are concerned about layoffs stemming from consolidation - Business InsiderSources told Business Insider they expected some downsizing, which is standard practice for agencies. Forrester called the consolidation necessary.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Gap billionaire family has lost $1 billion in 2019 amid sales slump - Business InsiderGap cofounder Doris Fisher and her sons John, Bob, and Bill Fisher were worth $8.3 billion in January, Forbes reported. They just have a Gap in their wealth now. Cash cows need to be reinvented every so often Was shocked at the prices of their Jeans lately. Something is definitely off
Source: BusinessInsider - 🏆 729. / 51 Read more »
How to get started in angel investing, according to experts - Business InsiderFirst Round's Phin Barnes and bestselling author and investor Kim Perell, among others, say to take these steps to launch a career in angel investing.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Starling has hit the 1 million account milestone - Business Insider - Business InsiderWhile Starling's total number of accounts may trail other big UK neobanks, it could have an edge over competitors due to the sustainability of its growth:
Source: BusinessInsider - 🏆 729. / 51 Read more »
The eSports Ecosystem from Business Insider Intelligence - Business Insider[NEW REPORT] The eSports Ecosystem: BIIntelligence breaks down the key players and trends driving the red-hot esports space that's on track to surpass $1.5 billion by 2023 BIIntelligence Love this
Source: BusinessInsider - 🏆 729. / 51 Read more »