The Green Market Report's Marijuana Money December 20, 2019

This week Trulieve found itself the target of a short-seller attack. Grizzly Research called the company a fraud. The report accused Trulieve’s CEO Kim Rivers’ husband of having questionable business practices and suggested that the company’s profits weren’t what they seemed. The stock seemed to recover as analysts defended the company.

Akerna is buying  Ample Organics Inc. in a  cash and stock deal was valued at $45 million. 

Fire & Flower Holdings Corp.  (TSX: FAF) announced that its third-quarter 2019 revenue increased 443% to $13.7 million for the quarter. The company also delivered a net income of $10.2 million over last year’s net loss of $22.5 million for the same time period.

HEXO Corp. (TSX: HEXO)(NYSE: HEXO)  reported its net revenue in the first quarter decreased sequentially to $14.5 million versus $15.4 million in the fourth quarter of 2019. The net loss for the quarter was an eye-popping $62.4 million. 

Valens GroWorks Crp. (TSXV: VGW) (OTCQX: VGWCF)  gave revenue guidance for the fourth quarter of 2019 in the range of $27 million to $30 million.

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) announced that Nasdaq has approved its application to have its Class B Subordinate Voting Shares listed on the Nasdaq Capital Market. 

The Green Organic Dutchman announce that it closed its previously announced bought deal basis, for $27.6 million.

Green Growth Brands said it was not going to acquire Moxie and blamed the market’s changing macro-environment. 

And finally, New Jersey lawmakers are sending the idea of full legalization to the voters in 2020 since they couldn’t agree on the legislation themselves.

Video Staff

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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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