Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) announced its financial results for the first fiscal 2025 quarter ending June 30, 2024. Canopy’s total revenue fell by 13% to C$75 million versus last year’s C$88 million for the same time period. Revenue fell in both the Canadian markets and the international …
TILT pivots to ‘asset-light’ model as losses mount
TILT Holdings Inc. (OTCQB: TLLTF) saw a steeper loss and sharply lower revenue for the second quarter, as it grappled with supply-chain issues in its hardware business. The Phoenix-based firm posted a net loss of $35.9 million for the quarter ending June 30, versus a loss of $26.9 million in …
CBD industry continues to crater amid regulatory uncertainty, price pressure
The once-booming CBD market is bracing itself for more headwinds as regulatory ambiguity and competition from unregulated products squeeze sales, according to recent earnings reports from major companies in the sector. Charlotte’s Web (TSX: CWEB) (OTCQX: CWBHF), one of the earliest pioneers in the legal CBD space, posted a 23% …
The Daily Hit: August 8, 2024
The Daily Hit is a recap of the top financial news stories for Thursday, August 8, 2024. On the Site L.A. County watchdog agency: City’s cannabis licensing, social equity needs reform A civil grand jury reported that some licensed L.A. dispensaries are so desperate for revenue that they’ve begun breaking …