Marijuana Business News

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stocks
business
Tue
08
Oct

Will these pot stocks rebound in October?

The cannabis industry is in its most unpredictable era. Marijuana stocks have been stuck in a malicious hangover of late. Investors’ interest in this space remains in high gear, driven by strong performances among some stocks in the sector. The group’s powerful projected long-term growth dynamics also remain a focus.

However, 2019 hasn’t been the best year for marijuana companies in the wake of rising losses, regulatory scandals and negative publicity. Therefore, a steep and fast drop in their share prices.

Tue
08
Oct

What the vaping crisis teaches businesses about the importance of supply chains

How crucial are supply-chain protections? The answer could be traced to the ongoing vaping crisis.

The current public-health emergency has killed at least a dozen people and has hospitalized hundreds more. Aside from the human cost, the tragedy has also raised questions about many aspects of vaping, including its meteoric rise in popularity with young people, its lack of regulatory oversight, and its profitable existence in illicit markets.

More importantly, for any business in any industry, this crisis also highlights the need for ensuring the integrity of supply chains.

Tue
08
Oct

Aleafia ends supply deal with Aphria for failing to meet terms

Toronto-based cannabis producer Aleafia Health Inc. announced Tuesday it will end a supply agreement with Aphria Inc. while claiming the Canadian pot giant failed to meet its obligations under the deal.

Aphria agreed in Sept. 2018 to provide Aleafia subsidiary Emblem Corp. with up to 175,000 kilograms of high quality dried cannabis flower and crude cannabis oil at preferred wholesale pricing over a five-year period beginning in May.

Aleafia acquired Emblem in March for $173 million in an all-stock deal which combined the two mid-tier cannabis producers and bolstered their medical marijuana and recreational cannabis offerings.

Tue
08
Oct

Expect cheaper pot prices around Christmas

If you’re thinking of gifting cannabis this holiday season, it may pay to shop last minute, according to analysts at BMO Capital Markets calling for discounts near the end of the year.

Tamy Chen and Peter Sklar are forecasting price cuts on middle-tier flower as provinces attempt to clear out vaults ahead of new products like edibles, vapes and beverages, which are expected to launch in mid-December.

“Given the elevated inventory level currently held by provinces, which we have anecdotally heard is largely the ‘mid-range’ flower category, we believe provinces and retailers will likely implement price markdowns to accelerate product sell-through,” they wrote in a research note on Monday.

Tue
08
Oct

Former Kitchener auto plant gets second life as a cannabis farm

A former Kitchener, Ont. auto parts plant is revving up for its second act as a new, cutting-edge cannabis cultivation facility.

The retrofitting is being carried out at the behest of Canadian LP JWC Corp. and will be known as JWC 2. The facility has been designed to house up to 345,000 sq. ft. of growing space.

Tue
08
Oct

B.C. cannabis companies say eight is not enough when it comes to retail stores

Running legal dispensaries in B.C. is a numbers game and the big players say they’re losing out.

Currently, no cannabis retail businesses are permitted to operate at more than eight locations in the province—a rule meant to encourage competition and give small owners a fighting chance in a tough industry.

Only 14 dispensaries are currently on the right side of the law in B.C. as bigger companies are forced to be selective about where they set up shop.

Mon
07
Oct

20,000 German pharmacies to stock Canadian Firm’s cannabis

The first European deal for Canadian firm MediPharm Labs will see its medical cannabis products made available to 20,000 German pharmacies.

With dual listings on the Ontario and Frankfurt stock exchanges, MediPharm says this new deal is an important milestone in its global ambitions.

Mon
07
Oct

Out-of-stock pot is becoming a big problem for online shoppers

Lacking the brick-and-mortar store density of mature recreational cannabis markets like Colorado, online shopping is an essential channel for legal pot sales in large swaths of Canada. Unfortunately, out-of-stock rates are on the rise, according to a new analysis of e-commerce platforms by Cowen.

Analyst Vivien Azer looked at 1,485 products with 3,032 SKUs from online stores in Alberta, British Columbia, Ontario, New Brunswick, and Newfoundland and Labrador—a sample covering 65 per cent of Canada’s population. The results show the stockout rate has reached 59 per cent, up from 56 per cent on Sept. 2.

Mon
07
Oct

Ontario appellate judge dismisses latest motion to suspend pot shop licensing process

An Ontario appellate judge ruled on Wednesday to dismiss a motion by a group of disqualified cannabis store applicants requesting the province’s retail cannabis licensing process be suspended pending an appeal being heard.

“The process that the government has decided on should be permitted to proceed. If the moving parties are ultimately successful, they may have a remedy, at the very least, in damages,” Ontario Court of Appeal Justice Ian Nordheimer said in his remarks dismissing the stay motion.

The ruling will now see the application process to open 42 new cannabis stores in Ontario continue, although the proper roll-out of these new shops is expected to be delayed for some time.

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