Green Market Report’s Marijuana Money November 12, 2020 - Grow Life 420

Green Market Report’s Marijuana Money November 12, 2020

November 13, 2020

#KahliBuds #MMJ #CBD #THC

Marijuana Money Minute

Verano Holdings, LLC is buying and merging with Alternative Medical Enterprises, LLC, Plants of Ruskin, LLC,  called AltMed to create the largest privately-owned cannabis company. The value of the transaction was not disclosed. Earlier this year Harvest health killed its plan to buy Verano in a deal valued at $850 million.

 It was a huge week for earnings with numbers coming from some of the biggest players. We’ll break it down into a winners, losers amd meh category. 

The winners are 

Green Thumb Industries or GTI had another tremendous quarter with revenue increasing 131% to $157.1 million. Revenue growth was driven primarily by the increased scale in the company’s Consumer Packaged Goods and Retail businesses.  

Canopy Growth Corporation (NYSE: CGC) reported net revenue of $135.3 million for the second fiscal 2021 quarter causing the stock to jump. This was a 77% increase over last year’s fiscal second-quarter revenue of $76.6 million. Still, Canopy delivered a net loss of $96.6 million versus last year’s net income of $242 million for the same time period.

Grow Generation is a specialty garden center with 31 locations across 11 US states. The company recently released their third quarter earnings, and reports that, “Revenues rose 153% to $55.0 million, for third-quarter 2020, versus $21.8 million for the same period last year.” 

Harvest Health & Recreation Inc. (OTCQX: HRVSF) reported revenue rising 86% in the third quarter to $61.6 million. This was a sequential increase of 11% 

Acreage Holdings, (OTC: ACRHF, ACRDF) reported their third-quarter revenue of $31.7 million, a 42% increase compared to the same period in 2019. It also was a 17% increase compared to the second quarter.

In the so so category:

Aurora reported a slight increase in total and net revenue in Q1, with numbers reaching $67.8 million, but then the company announced a $125 million offering and that was not well-received by shareholders because of the company’s elevated cash burn

Tilray, Inc. (Nasdaq: TLRY) reported that its total revenue for the third quarter was flat at $51.4 million and up 2.0% sequentially. Net losses fell to  $(2.3) million 

Charlotte’s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) reported  that its revenue  was rising to $25.2 million only a tiny bit better than the $25.1 million in 2019. The net loss was $6.6 million which was higher than last year’s net loss of $1.3 million. 

Not so great earnings included

Canopy Rivers Inc. (OTC: CNPOF) which acknowledged taking a $112 million hit for its PharmHouse investment.  The total comprehensive loss for the quarter was $87.0 million.

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI),shares plunged this week on an  underwritten public offering of units for C$60 million. 

In psychedelic news, Cybin began trading this week and Compass reported that it has enough cash to last it through 2023. 


The post Green Market Report’s Marijuana Money November 12, 2020 appeared first on Green Market Report.



Video Staff, KahliBuds, 420GrowLife

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