The Daily Hit: June 10th, 2020

It’s time for your Daily Hit of cannabis financial news for June 10th, 2020. 

 

On the Site

 

Namaste Seeing Positive Results From Restructuring

Troubled cannabis company Namaste Technologies Inc. (OTCMKTS: NXTTF) continues its hard journey on the road to recovery as the company reported a 16% increase in net revenues to $5.3 million for the first quarter ending February 29, 2020. Namaste said it was its highest quarterly revenue in two years.

The company also reported that its net losses had been trimmed to $7.4 million from last year’s $10.3 million for the same time period. Namaste said that the improvement reflected the restructuring efforts in 2019 and general business improvements in 2020.

 

GrowGeneration Warns Of COVID Problems In Stock Offering

Grow Generation Corp. (NASDAQ:GRWG) stock fell over 3% in early trading after the company announced a $35 million stock offering and gave hints of potential COVID troubles ahead.

 

On Hemp Market Report, hempmarketreport.com: 

 

New Study Finds CBD Products More Accurate In Labeling

A recent study by the peer-reviewed CBD educational platform LeafReport.com found that a majority of CBD products tested had CBD levels within 10 percent of what was stated on the label. Of the 37 CBD products tested, 27 (73 percent) contained a CBD amount that was within 90–110 percent of the amount advertised by the company, according to the independent investigation by LeafReport. However, the report’s analysts warn that 13 percent of products failed containing more or less than 30 percent of labeled CBD amounts.

 

In Other News

 

Jushi Holdings to Open Seventh BEYOND / HELLO Dispensary in Pennsylvania 

The dispensary will begin sales on June 12th at the Ardmore location.

 

Cresco Labs Appoints Executive Director of NBPA to Their Board of Directors 

Michele Roberts has been appointed to the board of directors for multi-state operator, Cresco Labs. 

Kaitlin Domangue

Kaitlin Domangue

Kaitlin is a 23-year-old wife and mom to three children. She is a financial reporter for the Green Market Report and a freelance writer for other businesses in the cannabis space.


Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like


About Us

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


READ MORE



Recent Tweets

@GreenMarketRpt – 8 hours

Cannabis Subscription Boxes Grow By 550% ⁦@cratejoy⁩ ⁦@CureCrate⁩ ⁦@hempcrateco⁩ #cannabis…

@GreenMarketRpt – 10 hours

The Green Market Report’s Marijuana Money September 18, 2020 ⁦@WallandBroad⁩

@GreenMarketRpt – 1 day

RT : With 48 days until the election, we are finding ways to let voters in New Jersey know Cannabis is on the ballot and why t…

Back to Top

You have Successfully Subscribed!