Videos Archives - Green Market Report

Video StaffAugust 19, 2022

3min3570

I’m Debra Borchardt and this is your marijuana money minute. We took a bit of a break from our video schedule, but we are back. Green Market will be  hosting its first Tech Summit in San Francisco on September 8. You can buy tickets and register on the website under the Summits tab.

This was another big week for earnings.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) announced its revenue rose 12% to $224 million. The company also trimmed its net losses to $10 million from last year’s net loss of $30 million. 

Cresco Labs reported approximately $218 million in revenue during the period. The company also reported that it has maintained its position as the number one cannabis wholesaler in the country.

Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH) reported its revenue rose 16.2% quarter-over-quarter and increasing 20.7% year-over-year, to $117.7 million. Ascend said its net loss dropped to $21.2 million during the quarter. The company said it helped being in the New Jersey market.

Ayr Wellness reported $110 million in revenue during the period, up 20.6% versus the same period last year. The company said it expected its revenue to grow by 10% for the rest of the year.

Not doing so well is Greenlane who delivered $39.9 million in total revenue during the quarter, falling from $46.5 million in the previous quarter. The company also said it was looking to decouple from its cannabis packaging company KushCo, which it merged with not long ago. Conspicuously absent from the company’s earnings statement was CEO Nick Kovacevich who had been the CEO at KushCo before taking on the role at Greenlane. 

Also turning in a disappointing number was Jay-Z cannabis company The Parent Co. who reported approximately $27.4 million in revenue, a 27% drop from last year. The Parent Co. also reported a second-quarter net loss of $30 million versus a $33.5 million loss sequentially. 

Don’t forget to register for the Tech Summit as we head to the west coast in September. 

 


Video StaffJune 21, 2022

1min9590

The Women Grow Pavilion at the recent CWCB conference in New York City proved to be a big hit. Located in the back corner of the hall it looked as if the group wasn’t given the best location, but that quickly turned out not to be the case. It was the place to be and where all the action was happening. The opportunity for many of these small women-owned businesses to have a table at a trade show was invaluable. Women Grow President Gia Moron said have the pavilion was a dream for the group and thanked CWCB for making it possible.


Video StaffJune 6, 2022

1min9860

New York City Mayor Eric Adams appeared at the CWCB Expo in New York City this past weekend. The Mayor spoke briefly at the event and then walked quickly through some of the trade show floor. He stopped at the Women Grow pavilion before answering some questions from a few reporters. Green Market Report was chosen as one of the few to speak to the Mayor. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date on all our videos. Go the website to subscribe to our free newsletters.


Video StaffJune 3, 2022

2min11210

We are reporting from the CWCB Expo in New York City today. 

 

It was a shorter trading week since markets were closed on Monday for the Memorial Day holiday and it’s been a fairly quiet start to summer for business news.

 

On Monday, Canadian cannabis company Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) reported total first quarter revenue of $15.8 million, up 17% sequentially over the fourth quarter of 2021. The reported loss was trimmed to $8.7 million.

 

Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) announced  first quarter revenues increased 65% to $4.6 million and a 28% sequential increase from the fourth quarter. The company’s net loss was essentially flat at $4.5 million.

 

HYTN Innovations Inc.  (CSE: HYTN) reported revenues of $255,461 for the second quarter and  the company has a cash position of over $2.2 million and no debt as of March 31, 2022. However, it is also listed as a going concern at this time.

 

The Allman Brothers band became the latest music group to release a cannabis brand. Most of the members of the band are dead at this point, but that doesn’t seem to matter. 

 

And finally, we published our followup story to the NASDAQ traded concept cannabis company Bright Green. We were able to track down the lawsuit from the former CEO and the allegations are stunning to say the least. Make sure you read that one. 


Video StaffMay 20, 2022

1min10240

The cannabis brand and retail show MJ Unpacked came to New York this week. Green Market Report was at the conference and spoke to sponsors, brands, and attendees to get their reactions to the event. With New Jersey’s recent jump into adult-use sales and New York’s impending program, interest was high from brands wanting into the Northeast and potential retailers looking for brands.


Video StaffMay 20, 2022

4min17090

Bright Green is a cannabis company with no revenue that just began trading on the NASDAQ, despite the exchange’s insistence that it won’t list U.S. cannabis companies due to the product being federally illegal. Bright Green plans to produce cannabis for research purposes with the Drug Enforcement Agency‘s (DEA) blessing, which seems to be the reason why the NASDAQ has allowed the company to trade. It would be considered federally legal cannabis. But the DEA wouldn’t confirm the agreement. The stock was trading at $26 and moved beyond $30 a share.

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) is buying Lemurian, Inc. better known as Jetty Extracts, a California-based producer of high-quality cannabis extracts and pioneer of clean vape technology, contingent upon federal permissibility of THC in the U.S. or earlier at Canopy Growth’s election, up to 100% of the outstanding capital stock of Jetty.

Cresco Labs Inc. ( (OTCQX: CRLBF)  reported revenue fell from the fourth quarter’s $217 million to the first quarter’s $214 million. Cresco Labs did note that the revenue increased 20% over last year’s $178 million for the same time period. This also beat the Yahoo Finance average analyst estimate for sales of $213 million.

After several lackluster quarters, cannabis software company Akerna (Nasdaq: KERN) announced that it is evaluating strategic alternatives as the company. Akerna also reported that CFO John Fowle is leaving to pursue other interests and the Board has appointed Dean Ditto as Akerna’s interim CFO. Fowle recently said on the company’s earnings call, “The ability of the company to continue as a going concern is dependent on our ability to secure other sources of financing, reduce debt, and attain profitable operation.

Planet 13 Holdings Inc. (CSE: PLTH)(OTCQX: PLNHF) announced its financial results for the three-month period ended March 31, 2022, with revenues rising 8% to $25.7 million from last year’s $23.8 million. However, Planet 13’s revenue fell sequentially from the fourth quarter’s $29 million.

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF)  reported revenue fell sequentially by 11% to $123 million from $139 million in the fourth quarter. It was a 43% increase over last year’s revenue of $86 million for the same time period.

Auxly Cannabis Group Inc. (TSX: XLY) (OTCQX: CBWTF) reported net revenues rose 147% to $22.6 million versus $9.2 million during the same period in 2021. Revenues fell sequentially from the fourth quarter’s revenue of $29 million. Auxly admitted it had lower winter yields at Auxly Leamington and hardware and packaging shortages due to supply chain disruptions.

Next week, we’ll be reporting from Davos covering the psychedelic space.


Video StaffMay 20, 2022

1min9500

On April 28, 2022, the Green Market Report hosted its first Women’s Summit in New York City. This successful sold-out event was the first in-person Summit for GMR since before the pandemic. We were thrilled at the response and can’t wait to host this again next year. GMR has always supported female-owned companies. This event brought together some of the most powerful women in the industry along with new entrants and canna-curious. There was diversity in race and age as well. All genders were welcome to a space that was warm and welcoming. Thank you for watching the Green Market Report! Be sure to subscribe to our channel and our newsletters.

 

Our next event will be a Tech Summit in San Francisco CA on September 14, 2022. Details to follow shortly. For information on sponsorship, please contact John Bollinger at johnbollinger@greenmarketreport.com.


Video StaffMay 18, 2022

1min11730

On April 28, 2022, the Green Market Report hosted its first Women’s Summit in New York City. This panel was titled “Women Creating Cannabis Brands.” These savvy and accomplished women have created truly unique and original products and companies. Their products are unlike others in their categories. This panel explores what it takes to create a company and product that stands out in a sea of sameness. Panelists included Jill Ellsworth – Founder CEO Willow Industries, Brett Heyman – Founder Edie Parker, Jodi Scott CEO Green Goo & Good Goo, and moderated by Tori Chamberlain – WHDH News Producer Thank you for watching the Green Market Report! Be sure to subscribe to our channel and our newsletters.


Video StaffMay 17, 2022

1min8060

On April 28, 2022, the Green Market Report hosted its first Women’s Summit in New York City. This panel was titled “Raising Capital” and addressed the challenges women face when raising money. From perfect balance sheets as female-owned companies struggle to raise capital that male-led companies don’t. This panel/presentation will give ways to overcome these issues. Panelists included Tahira Rehmatullah – CEO Commons, Daisy Mellet – Merida Capital Partners, Jen Drake – COO Ayr Wellness (OTC: AYRWF) and moderated by Chloe Aiello – Cheddar News.

Thank you for watching the Green Market Report! Be sure to subscribe to our channel and our newsletters.


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