The Canadian cannabis producer Organigram Holdings reported a continued loss pointing to the third-quarter slide in net revenue for 2020. Organigram previously warned investors about the revenue decrease for the quarter that ended May 31 as their revenue is down by 22% from the second quarter to $18 million Canadian dollars. The company attributed its recent revenue slump to lower volumes of flower sales and lower average net selling prices due to increased competition. Furthermore, the producer credit how Canada’s market for value cannabis flower grew which impacted sales dramatically.
– Marijuana Business Daily, July 21, 2020