The Daily Hit: November 21, 2019

Its time for your Daily Hit of cannabis financial news for November 21st, 2019.

 On the Site

Tilt Secures More Funding, Not Out Of The Woods Yet

TILT Holdings Inc.  (CSE: TILT) (OTCQB: TLLTF) has closed an additional private placement of $10.2 million of senior secured notes from a syndicate consisting of existing shareholders and new investors, bringing to the total amount of the facility to $35.8 million, up from the previously announced maximum of $35 million. While Tilt has been quick to note that the company has reported net income for the quarter, unlike many other cannabis companies, it still isn’t completely out of the woods. Canaccord Genuity analyst Bobby Burleson pointed out that the company will continue to face vape headwinds. Jupiter is 70% of the company’s revenue and while sales have rebounded, Burleson said he expects the company crisis to continue to have an effect on fourth-quarter sales. Especially the ban that was recently lifted in Massachusetts.

In Other News

 GW Pharmaceuticals Stock Price To Recover After Adverse Effects Of Cannabis Collapse And Speculators

GW Pharmaceuticals produced excellent third-quarter results because of the steep decline in stock prices. There were some unrealistic expectations by some observers going into Q3 earnings, but the company is a strong buy for long-term play for active investors.

Why TD Ameritrade, HEXO, and L Brands Jumped Today

Despite the recent turbulent nature of cannabis stocks, some companies still gained. TD Ameritrade, HEXO, and L Brands were among the top performers. TD Ameritrade’s shares climbed 18% after investors learned they may be a possible acquisition target. HEXO saw a 33% jump after the judiciary committee voted to send legislation to the full chamber that would take cannabis off a list of illegal controlled substances. HEXO, in particular, has been hit hard with the illegalities surrounding cannabis lately, so investors will have a lot to gain with the company if the laws change. L Brands’ shares rose 10%, despite reporting tepid results from the third quarter.

 

 

 

Kaitlin Domangue

Kaitlin Domangue

Kaitlin is a 23-year-old wife and mom to three children. Writing has always been a passion of hers but she never dreamed she would be able to turn it into a career. She is passionate about her Christian faith, living a healthy lifestyle and sharing the benefits of medicinal cannabis.


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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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