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Cannabis producer Canopy Growth reports another billion-dollar loss

5/30/20--Canopy Growth Corp. reported its second billion-dollar quarterly loss Friday, as the company remains mired in a turnaround effort. Canopy executives acknowledged Friday that the company had missed opportunities to sell its own version of cheap pot — five months ago inexpensive pot held a 6% market share, but that segment now accounts for around 20% of the market. Read

Cannabis producer Canopy Growth lays off 200 amid restructuring

4/29/20--Marijuana producer Canopy Growth Corp. said it had laid off 200 people across Canada, the United Kingdom and the U.S. as part of its ongoing restructuring plans first announced in February. U.S.-traded shares of Canopy were up 2.4% in late afternoon trading and down from a gain of just over 4% earlier in the session. Read

Pot stocks plunge after another round of disappointing earnings

3/30/20--Quebec-based Hexo reported a net loss of $210.8 million in its fiscal second quarter, and Medipharm Labs Corp. stock fell 13.6%. Other pot companies also plan to announce loss earnings, including Cronos Group Inc., one of Canada’s largest pot producers. Shares of other Canadian pot companies largely fell: Tilray Inc. dropped 19.9%, Aurora Cannabis Inc. fell 9.4%, Aphria Inc. fell 4.6%, and Sundial Growers Inc. fell 2.9%. Read

COVID-19 a ‘net positive’ for marijuana producer Curaleaf, says analyst

3/25/20--The COVID-19 pandemic has proven a boon to U.S. marijuana producer Curaleaf Holdings Inc. with roughly a 20% boost in sales, as sales jump and many states say that cannabis is an essential service. However, Curaleaf also rescinded its 2020 outlook as a result of the virus, telling investors Tuesday that its stores were closed in Massachusetts for the time being and will likely experience a falloff in sales in Nevada because of decreased tourism. Read

Federal prosecutors investigate California marijuana companies in wide-ranging probe

3/3/20--Federal prosecutors have launched a probe of cannabis companies in California, seeking a batch of records held by a startup that functions as a Yelp for marijuana dispensaries, according to a grand-jury subpoena reviewed by MarketWatch. Read

Why Canopy Growth’s sales grew as Aurora Cannabis struggled to sell more weed

2/14/20--Canopy Growth Corp. logged fiscal third-quarter net revenue of C$123.8 million ($93.5 million), well higher than the FactSet consensus of C$105 million reflecting strong year-over-year and sequential growth. Whereas, Canadian cannabis companies like Aurora Cannabis Inc. have struggled to produce those types of results of late. Read

Cannabis company supplier GrowGeneration adds ex-Home Depot CEO Nardelli as strategic adviser

7/10/19--GrowGeneration Corp., an owner and operator of specialty retail hydroponic and organic gardening stores serving the cannabis sector, has appointed Bob Nardelli, a former chief executive of Home Depot as a senior strategic adviser. Nardelli will work with management to explore potential partnerships, advising the company's CEO Darren Lampert and board on matters relating to the supply chain, merchandise, branding, distribution, new product launches, pricing and channel selection. Read

Corona beer parent’s move into the marijuana business is a smart one

10/31/17--According to Wells Fargo analyst Bonnie Herzog, Constellation Brands Inc.’s move into the marijuana business makes strategic sense and will give the company a first-mover advantage in the weed market that will complement its leading role in the alcohol market. Drinkable marijuana is a small but growing part of the North American legal market, which is worth about $8 billion today, according to cannabis research company ArcView Group, and expected to grow to about 23 billion by 2021. Read  

Marijuana legalization has NOT led to more drug or alcohol abuse among young people

9/16/17--Liberalized marijuana laws appear to have little positive or negative impact, according to a new working paper by researchers from the Consumer Financial Protection Bureau, Harvard University, and Western Carolina University. In fact, more liberal marijuana laws have had “minimal impact” on marijuana use, other substance use, alcohol consumption or crime rates, the study found. Read

Women in the marijuana business face a ‘grass ceiling’

8/31/17--Not long ago the marijuana business was way ahead of U.S. business overall in the leadership positions held by women. Yet, as the industry has become more mature and more mainstream, instead of building on that leadership, it’s going in reverse. Men are now edging out the women. The percentage of executives in U.S. marijuana-related companies who are women has collapsed to 27% from 36% in just one year, according to the latest anonymous survey by Marijuana Business Daily. Read

A government health agency is funding the first-ever study on medical marijuana’s impact on opioid abuse

8/12/17--The National Institutes of Health (NIH) is funding the first-ever, long-term study to research the impacts of medical marijuana on opioid use. The NIH has awarded a five-year, $3.8 million grant to researchers at Albert Einstein College of Medicine and Montefiore Health System to study whether medical marijuana reduces opioid use among adults with chronic pain, including people with HIV. Read

Opinion: The case against legalizing marijuana

11/7/16--In an editorial by MarketWatch columnist Bret Arends, residents of California, Massachusetts , Nevada, Arizona, and Maine are specifically informed about the ballot measure in their respective states to legalize marijuana. He warns that they are not being told the truth, and the people pushing it — the business people who want to sell it, and the political hacks who want to tax it — are deliberately misleading them. Arends outlines the medical research he says they should be informed about — from scientists, not lobbyists. Read