cannabis Archives - Page 5 of 12

A worker pushes a cart of marijuana plants at the Canopy Growth facility at Smiths Falls, Ont. on Jan. 4, 2018. (File photo: Reuters/Chris Wattie)

More pain in store for Canadian marijuana companies

Aurora Cannabis, Tilray cut jobs

By Nichola Saminather February 8, 2020

Toronto | Reuters — Investors are bracing for more job cuts and writedowns at Canadian cannabis producers before the industry stabilizes and becomes profitable, after two of the biggest weed companies, Aurora Cannabis and Tilray announced cost reductions this week. Canada legalized recreational cannabis in October 2018 but profits have proven elusive for most marijuana […] Read more

File photo of a worker checking cannabis plants at a Tilray factory hothouse at Cantanhede, about 220 km north of Lisbon, on April 24, 2019. (Photo: Reuters/Rafael Marchante)

Crops, Reuters

Tilray, in cost reduction mode, cuts 10 per cent of workforce

By Nichola Saminather, GFM Network News February 5, 2020

Toronto | Reuters — Tilray Inc. has cut 10 per cent of its 1,443-strong workforce as part of a global restructuring effort to reduce costs, the cannabis producer said Tuesday. “By reducing headcount and cost, Tilray will be better positioned to achieve profitability and be one of the clear winners in the cannabis industry,” the […] Read more

Crops, Markets, Reuters

Bargain hunters fire up rally in cannabis stocks

By David Randall January 25, 2020

New York | Reuters — Some cannabis stocks are seeing their prices surge as investors hunt for winners in the ashes of an industry shakeout that hammered share prices last year. Shares of Tilray Inc. and Canopy Growth Corp. have climbed more than 20 per cent since the start of the year, while Cronos Group […] Read more

Manitoba’s Liquor, Gaming and Cannabis Authority (LGCA) has been running billboards such as this one in Winnipeg to educate the public ahead of edibles’ entry to the recreational market. (Dave Bedard photo)

Crops, Reuters

Cannabis patients boost Aurora edible sales

By Nichola Saminather December 19, 2019

Toronto | Reuters — Aurora Cannabis this week became the first major Canadian company to sell edibles and vapes for medical use, a small base that nevertheless helps shore up margins and paves the way for sales in the much larger European medical market. Medical marijuana has been legal in Canada since 2001, and recreational […] Read more

Crops, Reuters

Constellation tightens grip on Canopy with CEO appointment

By Reuters, GFM Network News December 9, 2019

Reuters — Constellation Brands finance head David Klein will take over in January as CEO of pot producer Canopy Growth Corp., hardening up the Corona beer maker’s control of a company into which it has sunk US$4 billion. Klein was appointed Canopy chairman in October after Constellation booked a $430 million net loss related to […] Read more

Crops, Reuters

Pot producer Canopy Growth to stop expanding in Canada

By Reuters, GFM Network News November 14, 2019

Reuters — Canopy Growth Corp. on Thursday reported a wider-than-expected quarterly loss on soaring expenses and said it would not make any large investments to expand in Canada amid surplus supply and tepid demand for weed and weed products. The decision to hold expansion plans follows a wave of enthusiastic spending by marijuana companies to […] Read more

Crops, Markets, Reuters

As ‘Cannabis 2.0’ kicks off, industry strangled by limited retail outlets

By Nichola Saminather, Shariq Khan October 17, 2019

Reuters — A year after Canada legalized use of recreational marijuana, cannabis stocks have lost half their market value, and investors betting that the launch of higher-margin pot-infused drinks and other products will quickly lift shares may be in for a bumpy ride. So-called cannabis 2.0 — legalization of marijuana derivatives including edibles, beverages, extracts […] Read more

Crops, Reuters

Mexican Senate set to pass bill to legalize marijuana in next few days

By Diego Ore October 15, 2019

Mexico City | Reuters — Mexico’s Senate will vote for a bill to fully legalize marijuana in the next few days, a key lawmaker told Reuters, marking a major step toward changing the country’s approach to the drug by removing it as a source of income for violent drug gangs. President Andres Manuel Lopez Obrador, […] Read more

File photo of medical cannabis in production. (FatCamera/iStock/Getty Images)

Crops, Reuters

Pot producer CannTrust to destroy $77M in plants, inventory

By Reuters October 14, 2019

Reuters — Canadian cannabis producer CannTrust Holdings said Monday it would destroy about $12 million worth of plants and about $65 million worth of inventory as part of a plan to regain full regulatory compliance. Health Canada canceled CannTrust’s license to produce and sell cannabis in September, months after it found the company was illegally […] Read more

Crops, Markets, Reuters

Short-sellers circle cannabis stocks as profits dwindle

By David Randall October 2, 2019

New York | Reuters — Wall Street’s love of cannabis appears to be going up in smoke as vaping-related ailments and missed revenue projections are prompting short sellers to raise their bets against the industry, fund managers and analysts said on Wednesday. Short interest in cannabis stocks, which reflects bets that prices will fall, has […] Read more

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Tag Archives cannabis

More pain in store for Canadian marijuana companies

Tilray, in cost reduction mode, cuts 10 per cent of workforce

Bargain hunters fire up rally in cannabis stocks

Cannabis patients boost Aurora edible sales

Constellation tightens grip on Canopy with CEO appointment

Pot producer Canopy Growth to stop expanding in Canada

As ‘Cannabis 2.0’ kicks off, industry strangled by limited retail outlets

Mexican Senate set to pass bill to legalize marijuana in next few days

Pot producer CannTrust to destroy $77M in plants, inventory

Short-sellers circle cannabis stocks as profits dwindle

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