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USDA Survey Reveals Hemp Market Reached $824M Valuation in 2021
This week, the U.S. Department of Agriculture (“USDA”) revealed that the value of the hemp market in 2021 reached $824 million. The survey is the first federal study into the hemp sector, and the analysis is meant to be used as a benchmark for the sector’s economic...
Verano Holdings Announces Agreement to Acquire and Combine Operations with AltMed in Florida and Arizona
Verano Holdings, LLC (“Verano”), a leading multi-state cannabis owner, operator, and manager today announced the signing of a definitive merger agreement to acquire and combine operations with Alternative Medical Enterprises, LLC, Plants of Ruskin, LLC, and affiliated...
Canopy reports record cannabis revenue, pledges profit next fiscal year
Smiths Falls, Ontario-based Canopy Growth reported record net revenue of 135 million Canadian dollars ($104 million) in the second quarter ended Sept. 30, topping analyst expectations, along with a net loss of about CA$97 million. The revenue gain was led by dry bud...
Cannabis Stocks Soar on Biden’s Win
November has delivered a triple-whammy of great news for cannabis stocks: Several states legalized the use of recreational marijuana, Joe Biden’s presidential victory could lead to more calls for decriminalization, and two leading cannabis companies reported...
Canopy Rivers Takes $112 Million Charge On PharmHouse
Canopy Rivers Inc. today released its unaudited condensed interim consolidated financial statements in Canadian dollars and acknowledged taking a $112 million hit for its PharmHouse investment. The total comprehensive loss for the quarter was $87.0 million. On a...
Pot producer Aphria to buy beer maker Sweetwater for $300 million in U.S. push
Aphria Inc said on Wednesday it plans to buy craft brewer SweetWater Brewing Co for $300 million as it looks to expand into the United States while becoming the first major pot producer to enter the alcoholic beverages market. The deal gives Aphria a U.S. distribution...
Aurora Cannabis soars 36% premarket to pace sector rally as Biden leads electoral vote
Cannabis stocks rallied in premarket trade on Thursday. Aurora Cannabis Inc led the market predictions and buoyed by Democrat Joe Biden’s electoral vote gains that place him close the becoming the 46th U.S. president. Biden, and his running mate Kamala Harris, have...
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