Staff work in a marijuana grow room at Canopy Growth's Tweed facility in Smiths Falls, Ont. on Aug. 23, 2018. THE CANADIAN PRESS/Sean KilpatrickThis was the year when cannabis stocks were supposed to take off.
Struggling Marlboro owner Altria has a nearly 45 per cent stake in Cronos, while Corona parent company Constellation Brands recently announced it was taking a more than $800 million writedown on its investment in Canopy.a few months ago after Constellation CEO Bill Newlands said he was "not pleased" with the company's results.Shares of Aphria have fallen nearly 10 per cent.
"The early movers in cannabis that listed their stocks a few years ago did so at a fortuitous time and were able to raise a lot of money astronomically fast. But they grew very quickly and now sales have not matched investor expectations," said McBride, who is also co-founder of the Cannabis Europa events conference organization.
Matt Markiewicz, managing director of Innovation Shares, which runs The Cannabis ETF, agreed that investors got too excited about the short-term outlook for the sector. Sam Masucci, CEO of ETF Managers Group, which runs the ETFMG Alternative Harvest ETF, said he likes GW Pharmaceuticals, a drug firm that has developed cannabis-derived medication to treat epileptic seizures, and lawn care company Scotts Miracle-Gro, a leader in hydroponics technology that helps cultivate cannabis plants.
When govt gets involved, it all goes up in smoke🤷♂️
Because the government tried to control it too much instead of letting the trained professionals do what they know best! We need dispensaries with educated sellers and none of this online business. Most people don’t like buying their weed online think of your demographic... 🙄
Maybe something to do with revoking growers license for growing in an unlicensed room, within a licensed grow facility.
They don’t call it dope because it makes you smart!
Scum bags like the founders of Aphria....greed...
1) Many of them were overvalued pre-legalization. 2) Insider trading. 3) Ex-politicians, police chiefs, and senators were involved early. Summary: Corruption by the elites.
Reason: Low sales. Ontario's Premier Ford refused to have cannabis sold in the LCBO instead he decided to privatize the sale of cannabis. Much to everyone's dismay.
Because govt got involved with an industry the private sector would have run very well on it's own. This isn't a stock problem, it is a Liberal Party Involvement problem. Stocks still could be very strong, but govt BS would have to be taken out of the equation.
Yeah BflisFB why?
Because the legal dispensaries are being greedy and charging 15 dollars a gram. You want more sales bring down the prices. 10 dollars tops for a gram. Just like the street prices. Get smart or get undersold by your competitors.
Is that a shame
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