Green Market Report's Marijuana Money Minute March 1, 2019 (2024)
This week, Martha Stewart agree to work with Canopy Growth Corporation (CGC) to create a CBD line of products for animals.
On the acquisition front, Curaleaf (CURA) bought Eureka Investment Partners in a deal valued at $30.5 million. Eureka operates a cultivation facility in the Salinas Valley and is developing three dispensaries across the state. The deal will be $10 million in cash, $20.5 million in Curaleaf stock, with a potential added bonus to be paid if certain goals are met. The deal is expected to close in March 2019.
SOL Global formed a new hemp subsidiary called Heavenly RX and its first investment was for $30 million into a Tennessee-based company called Bluhen Botanicals.
Choom acquired Clarity Cannabis MD Holdings in a cash and stock deal valued at roughly $5.5 million. Clarity has 30 retail locations in Canada.
Cannex bought Pure Ratios Holdings as a way into the CBD market in a deal valued at $8 million.
It is certainly earnings season. We can’t cover them all here, but these are the major ones:
GW Pharmaceuticals(GWPH) released its first earnings to include sales of its drug Epidiolex. Revenue for the quarter was $6.7 million, which beat analyst estimates and sales from Epidiolex whose sales began on November 1 were $4.7 million.
MedMen Enterprises (MMNFF) reported revenue of $29 million for its fiscal second quarter but net losses remained high at $64 million. Most of the company’s revenue came from its Southern California stores.
In other news
Zynerba (ZYNE) received a patent for its CBD gel which covers the company’s ZYN002 drug.
CannTrust began trading on the NYSE using the symbol CTST. It will continue to trade on the Toronto Exchange using the symbol TRST.
The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry.
MedMen's spectacular collapse is complete: Just six years after earning a whopping $3 billion valuation, the onetime legal cannabis darling has declared bankruptcy. Former MedMen CEO Adam Bierman at the 2018 opening of the company's Venice Beach retail location.
Green marketing helps companies adopt more sustainable business practices as it helps promote the environmental benefits of their products and services. Furthermore, green marketing can raise awareness among consumers about the importance of sustainability and the environmental impact of their purchasing decisions.
MedMen's stock tanked throughout 2019, losing 92% of its value as the retailer struggled to keep up with high tax payments and compete with unlicensed sellers who undercut its prices.
MedMen encountered numerous challenges, including financial mismanagement resulting from rapid expansion, leading to significant debt accumulation and profit difficulties. Legal disputes, particularly regarding labor practices, exacerbated financial strains and attracted public scrutiny.
The company, which had operated locations throughout the United States, was once valued at $3 billion according to Market Watch, but its stock plummeted to zero at the beginning of the year. As a result, most every MedMen store – including more than a dozen in California – shuttered.
Market evaluation is the process of research and analysis of a specific market. This process involves gathering quantitative and qualitative data, such as the market size, statistics, average prices in the target market, customers' buying habits, and more.
Green marketing is the marketing of products that are presumed to be environmentally safe. It incorporates a broad range of activities, including product modification, changes to the production process, sustainable packaging, as well as modifying advertising.
Market Report is an index of the business conditions existing in a market during a specific period of time. It reflects the general state of business in the market for which it is prepared.
Introduction: My name is Annamae Dooley, I am a witty, quaint, lovely, clever, rich, sparkling, powerful person who loves writing and wants to share my knowledge and understanding with you.
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