Green Market Report's Marijuana Money June 14, 2019

Oregon passed an export bill but there are concerns that even if other states allowed this it’s just a way for the state to legally dump its oversupply of cannabis into other markets.

Harborside began trading this week on the CSE using the symbol HBOR. This company is led by a pioneer in the cannabis industry Steve D’Angelo and started one of the first dispensaries in California. The company commands a large market share in the state and plans on increasing that.

HEXO Corp reported its earnings late on Wednesday evening and no wonder, the sales of adult use and medical cannabis both fell sequentially from the second quarter to the third. The company has ambitious plans to double its revenue but right now it is going in the wrong direction.

In other poor earnings news, Neptune Wellness Solutions Inc. reported that its year-over-year revenue for the quarter declined from $7 million to $5.8 million. the Net loss increased from $4.8 million to a net loss of $12.4 million.

Cresco Labs was asked to provide more information regarding its Origin House acquisition to U.S. anti-trust authorities. The company is complying and doesn’t believe it will change the plans for the acquisition.

The beautiful and delicious Coda Signature chocolates raised $24 million in plans to expand the company.

Sparx Cannabis completed the Company’s Series A funding round with $10 million raised through private funding.

MJ Freeway raised another $2.2 million. The company is still on track to become a publicly traded company this summer. 

Tilray’s biggest shareholder Privateer Holdings will be releasing a large portion of the privately held Tilray shares. Many analysts have cited these privately held shares as a reason they won’t give a higher rating for the stock.  

Green Growth Brands has opened an astonishing 50 stores in four months in various malls and has plans to make that number 70 stores.

Jushi began trading on the NEO exchange in Canada using the symbol JUSH.

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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