Green Market Report’s New York cannabis conference called The Economics of 2020 Cannabis is being held on April 3 this year and this will be our most diverse event yet. Zilera Health is our keynote and we will give you more details as they come. Save the date. With the challenges facing the industry, it is more important than ever to hear from experts in the field.
We also published our first report on Psychedelic Investing Trends and its available for purchase on our website.
This week we had sobering news from Canopy Growth. The cannabis giant said it was closing two indoor grow facilities, laying off 500 employees and taking a charge of between $700 and $800 million dollars. The company said it had made these indoor grow investments before it got cleared for outdoor grows, which are much cheaper. There will certainly be a ripple effect from this move throughout the industry.
Tilray, Inc. (Nasdaq:TLRY) stock got slammed after its fourth-quarter earnings of -$0.62 missed by $0.24. Revenue of $46 million increased 202 % over last year but also missed estimates by $8.58 million. The net loss for the quarter was an eye-popping $219 million
Cronos Group said it would be late delivering its earnings
It isn’t all gloom and doom out there.
Ceres Group Acquisition Sponsor and Ceres Acquisition Corp. closed on its initial public offering (IPO) of $120 million SPAC. It began trading on the Neo Exchange Inc. using the symbol “CERE.UN
Bruce Linton is starting a SPAC as well. Collective Growth Corporation intends to trade its units on the NASDAQ with the symbol “CGROU”, The company plans to raise $150 million
Halo Labs Inc. is acquiring Cannalift Delivery Inc. in exchange for C$3.41M common shares of Halo at a deemed price of C$0.11 per share. The Cannalift vendor is also helping Halo secure a non-brokered private placement of up to C$700,000.