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Concerns about supply chain issues and a slowdown in consumer spending due to coronavirus fears are weighing heavily on the cannabis sector.
Markets, News

Cannabis funds inch higher after touching all-time lows

The legal weed sector faces declining market fundamentals

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Reuters – Exchange-traded funds that invest in cannabis stocks rebounded March 10, one day after a global equity rout dropped them to all-time lows. The $509-million ETFMG Alternative Harvest ETF gained 2.2 per cent in afternoon trade, while the $318-million Horizon Marijuana Life Sciences ETF rose 1.8 per cent during a market rally that pushed
Cannabis plants about two weeks after transplant into their growing pod.
Farmit Manitoba, News

The gram tour: Cannabis grower Delta 9 opens its doors

Delta 9 has made recreational cannabis production high tech and highly efficient

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It smells great. Not skunky or sour, but floral, citrusy — in some corridors, a little spicy. The walls are blazing white. A few employees, nearing the end of their shift, slip past in colour-coded scrubs. Delta 9 CEO John Arbuthnot swipes a key card and opens the door to a shipping container room where
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)
Crops

Canopy Growth to shut two B.C. greenhouses, cut 500 jobs

Niagara greenhouse plans also shelved

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Reuters — Pot producer Canopy Growth Corp. said on Wednesday it plans to close two of its greenhouses in Aldergrove and Delta, B.C., cutting about 500 positions. The company also said it no longer plans to open a third greenhouse in Niagara-on-the-Lake, Ont. Canopy had said last month it aims to focus on reducing costs,
(CanopyGrowth.com)
Crops

Canopy Growth may face challenges offloading assets, CEO says

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Reuters — Canada’s biggest cannabis producer, Canopy Growth Corp., could face challenges offloading assets as it seeks to winnow its facilities down to focus on its most lucrative markets and products, its CEO told Reuters. The company, which reported a smaller-than-expected third-quarter loss on Friday, is conducting a “thorough strategic review” of its production facilities
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)
Crops, Markets

More pain in store for Canadian marijuana companies

Aurora Cannabis, Tilray cut jobs

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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
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

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

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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
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)
Crops, Markets

Bargain hunters fire up rally in cannabis stocks

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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
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

Cannabis patients boost Aurora edible sales

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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
(CanopyGrowth.com)
Crops

Constellation tightens grip on Canopy with CEO appointment

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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
(CanopyGrowth.com)
Crops

Pot producer Canopy Growth to stop expanding in Canada

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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

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