The Week Ahead In Cannabis: Cronos And GW Pharma Earnings, Ontario's Second License Lottery
The earnings season is in full swing, with a number of companies are expected to report results this week.
Here is a short overview of which companies are slated to post their results, as well as some other major developments from the industry that investors should be keeping an eye on.
On Aug. 6, three companies will report their results after the market close: CV Sciences Inc (OTC:CVSI), GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) and Columbia Care Inc (OTC:CCHWF). For GW Pharma, analysts expect a revenue of $47.05 million and EPS of $1.34
On Aug. 7, cannabis-focused REIT Innovative Industrial Properties Inc (NYSE:IIPR) is expected to post second-quarter results, with analysts anticipating EPS of 29 cents on revenue of $8.34 million.
Between Aug. 7-9, the Government of Ontario will accept applications for the second round of cannabis retail licenses. The Alcohol and Gaming Commission of Ontario plans to provide licenses for 50 new stores, 42 of which will be allocated through the lottery. The other eight stores will be open on First Nations reserves. The draw will be conducted on Aug. 20 and results will be available within 24 hours. The AGCO expects the stores to begin opening in October.
After having legalized medical cannabis earlier this year, Thai government plans to distribute the first batch of around 10,000 bottles of cannabis oil for hospital patients. The first 4,500 5ml bottles will be distributed across hospitals on Aug. 7, with the rest distributed later.
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