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Cannabis Countdown: Top 10 Marijuana Stock News Stories Of The Week – Earnings SZN Edition

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Cannabis Countdown: Top 10 Marijuana Stock News Stories Of The Week – Earnings SZN Edition
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Cannabis Countdown: Top 10 Marijuana Stock News Stories of the Week – Earnings SZN Edition

Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for the week of August 12th – 18th, 2019.

Without further ado, let’s get started.

10. Health Canada Deals CannTrust Another Severe Blow, Did Today’s News Awaken the Monster Hiding Under the Company’s NYSE Listing?

Shares of CannTrust (NYSE: CTST) tumbled nearly 28% today after the company released news this morning informing investors that Health Canada has rated the company’s Vaughan, Ontario facility as non-compliant.

CannTrust’s latest woes may pale in comparison to a possible SEC investigation.

Read full CannTrust SEC article

9. Aurora Cannabis Expands Credit Facility by 80%

Aurora Cannabis (NYSE: ACB) has increased its financial leverage. The company announced on Thursday that it has managed to nearly double an existing credit facility.

The company says that the syndicate behind the facility has agreed to expand it to roughly CDN $360 million from the previous level of CDN $200 million.

Read full Aurora Cannabis article

8. TGOD Stock Drops 15.5% Following Q2 Earnings Announcement

The Green Organic Dutchman released its Q2 earnings recently, and its stock dropped more than 15%. What went wrong?

Despite TGOD stock enjoying a slight surge last week after the company announced it has applied to list on the NASDAQ, yesterday’s Q2 earnings results did little to reinforce speculators’ optimistic sentiment.

Read full TGOD Q2 Earnings article

7. Key Takeaways from Acreage Holdings’ Q2 Earnings

Acreage Holdings (CSE: ACRG.U) (OTCQX: ACRGF) reported its second-quarter earnings results on August 13. The company reported stellar revenue growth of $17.7 million, a rise of almost 501% from the same quarter a year ago.

While the company reported stellar top line growth, it wasn’t profitable during the quarter.

Read full Acreage Q2 Earnings article

6. Cannabis Firm Trulieve Reports Strong Revenue Growth in Second Quarter

Trulieve Cannabis (CSE: TRUL) (OTCQX: TCNNF), a Florida-based multistate operator, reported record revenue of $57.9 million for the second quarter, up 149% compared with $23.3 million during the same period a year ago.

Revenue for the six-month period ended June 30 totaled $102.4 million, nearly triple the $38.5 million the company posted during the second quarter last year.

Read full Trulieve Q2 Earnings article

5. Charlotte’s Web Q2 Revenue Increases 45% to $25 Million

Charlotte’s Web (TSX: CWEB) (OTCQX: CWBHF), the market share leader in whole-plant CBD hemp extract products, reported financial results for the second quarter ended June 30, 2019.

“We are experiencing increased momentum with large retailers as consumer awareness and interest in CBD grows.” – said Deanie Elsner.

Last month Charlotte’s Web announced a colossal 1,350 store CBD distribution deal with Kroger.

Read full CWEB Q2 Earnings article

4. Aleafia Health Reported Q2/19 Financial Results Before Markets Opened on August 14, 2019

Aleafia Health (TSX: ALEF) (OTCQX: ALEF), a leading Canadian cannabis stock with a network of 40 cannabis clinics across Canada, reported Q2/19 financials results before markets opened on August 14, 2019.

The financials were highlighted by revenue of $3.8M, an increase of 152% quarter over quarter. Importantly, we note that this quarter did include significant revenues from Emblem.

Read full Aleafia Q2 Earnings article

3. Medipharm Labs Reports Revenues of $31 million for Second Quarter

Medipharm Labs (TSX: LABS) (OTCQX: MEDIF) filed its second quarter earnings after the bell this evening, reporting revenues of $31.47 million for the three month period ended June 30, 2019, and a net income of $1.96 million after tax, making it one of few cannabis focused firms to post a profitable quarter.

Medipharm also has a fairly strong balance sheet, posting a cash reserve of $72.72 million, and trade receivables of $25.36 million. Total current assets filled out to $142.92 million, and overall assets of $174.31 million.

Read full MediPharm Q2 Earnings article

2. Tilray Q2 Beats on Revenue, Misses on Earnings

Tilray (NASDAQ: TLRY) released its Q2 of fiscal 2019 results after the market closed on Tuesday.

Similar to other marijuana stocks that have unveiled their results lately, the company showed significant revenue growth but a deeper loss on the bottom line.

Read full Tilray Q2 Earnings article

1. Canopy Growth Posts Staggering Q1 Loss, WEED Stock Plummets, Drags Sector With It

Canopy Growth (NYSE: CGC) reported fiscal Q1 earnings yesterday aftermarket, and the results caused shares of cannabis stocks across the board to plunge.

The majority of noteworthy marijuana stocks dropped anywhere from 5% – 15% as the market fully digested the dismal financials.

Read full Canopy Q2 Earnings article

Image Sourced from Pixabay

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Posted-In: cannabis industryCannabis Earnings Government News Regulations Markets General

 

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