By / November 9, 2019

Top 10 cannabis stock news stories of the week

The portal gathered and recapped the top 10 cannabis stock news stories from the week of Oct. 28 to Nov. 3, 2019.

10. CFN Media interviews Red White & Bloom CEO, Brad Rogers

Firstly, Brad Rogers, CEO of Super State Operator Red White & Bloom goes deep with Greg Hasty of CannabisFN.

CFN Media, one of the largest financial networks focused on cannabis has just published an interview with the CEO of Red White & Bloom (CSE: RWB – IPO Soon), Brad Rogers.

The video interview took place at the Benzinga Cannabis Capital Conference in Chicago last week.

9. Super Bowl champion, Rob Gronkowski, joins Abacus Health

This week's cannabis stocks news includes football
Multiple injuries and first-hand experience with the CEO of Abacus Health Products convinced Gronk to join the CBD wave. (Source)

Gronkowski is ready for CBD ‘Gronk Spike’ market with a new CBDMEDIC commercial business.

Multiple injuries and first-hand experience with the CEO of Abacus Health Products convinced Gronk to join the CBD wave.

8. Canadian cannabis stock news reveals the reason for marijuana storage

The trajectory of cannabis stocks can change dramatically.

With large institutions still reluctant to invest in marijuana, Canadian retail investors continue to dominate the public floats of many marijuana stocks, especially those based in the U.S.

7. MedMen doubles revenue while EBITDA loss triples

After weak fourth-quarter earnings, MedMen changes $250 million in Gotham Green Credit Facility.

MedMen released its fourth-quarter results yesterday after the closing of the bell and the “Apple Store of Weed” disappointed investors once again.

MedMen recorded revenue of $42 million in the fourth quarter, an increase of 104% year on year. However, MedMen’s adjusted EBITDA loss for the full year was more than triple that of 2018.

6. Bay Street profits from the marijuana frenzy before the massacre

The warning signs were there all summer. It wasn’t until the first of September that the day of the settlement of scores arrived.

After markets closed on Sept. 3, Aurora Cannabis tried to sell its 10.5% stake in The Green Organic Dutchman to public investors.

The sector’s original financiers have now moved on to more promising U.S.-based companies, or are completely out of the sector.

5. Hexo Corp reports fourth-quarter earnings in cannabis stocks news

Revenue records of $15.4 million and a loss of $56.7 million have been recorded by Hexo Corp.

The company reported financial results for the fourth quarter of 2019, recognizing net revenue of $15.39 million during the quarter, and recording a total net loss of $56.68 million.

4. Canopy Growth reveals new cannabis drinks and edibles

Canopy Growth introduces sweet edibles in this week's cannabis stocks news
Canopy Growth has launched its first batch of cannabis drinks and chocolates. (Source)

Canopy has also introduced two THC-infused beverages under its Seth Rogen-supported “House Plant” brand.

Additionally, Canopy Growth has launched its first batch of cannabis drinks and chocolates. Products include psychoactive ginger-ale, CBD-infused cucumber-mint soda water, and cocoa “Bean & Bud” medallions.

3. HEXO to launch Flow Glow CBD

New HEXO licenses allow the sale of edible products, beverages, extracts and cannabis topics.

HEXO Corp and partner JV Molson Coors expect to launch their new Flow Glow CBD drink in December.

2. Cannabis 2.0 flourishing in the U.S. market

Is a diversified Canadian market really cannabis 2.0? Or is it the huge opportunity south of the border?

All Canadian cannabis stock news face headwinds and yet they trade for heavy multiples, as the comparison charts below show.

These prices are unjustified until the real prize in the U.S. market comes into play.

1. Net revenue for Liberty Health rises 379%

Liberty Health sees a net revenue increase in the second quarter to $10.63 million while shares jump 20% in response to stellar gains.

The company reported its earnings this morning in the second-quarter ending on Aug. 31, 2019.

The company saw its consolidated net revenue in the quarter increase 378.88% year on year.

An additional example of a great investment company

The investment company World High Life (NEX: LIFE) is also making big cannabis stock news headlines.

World High Life (WHL) announced its attention to buy the British producer of cannabis oil, Love Hemp for $11.23 million. This is part of its strategy of entering the European market.

WHL also announced that it will place shares worth $6.25 million in the United Kingdom stock exchange.

The company was incorporated on Jan. 30, 2019 as an investment vehicle to identify opportunities and acquisitions in companies to specifically take advantage of the rapidly changing regulatory environment surrounding legal medicinal cannabis.


(Featured image by FirmBee via Pixabay)

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