Psychedelic drug company Bright Minds Biosciences Inc. (NASDAQ: DRUG) saw its stock rocket higher by 1,445% to close the day on Tuesday at $38.49 as the stock rose $36 per share. The stock had opened at $2.67 per share and has mostly traded in the range of $1-$2 over the …
Tsunami of debt heading toward the biggest cannabis companies
There is a tsunami of debt headed straight for the cannabis industry. When capital dried up a few years ago, many publicly traded cannabis companies turned to debt for needed funding. Now, roughly $1.83 billion of that debt is set to come due by 2026. Facing the wave There’s no …
The Daily Hit: October 15, 2024
The Daily Hit is a recap of the top financial news stories for Tuesday, October 15, 2024. On the Site BevCanna changes name as it says goodbye to cannabis The new company will focus on nutraceuticals after its recent acquisition. Read more here. Leafly at risk of Nasdaq delisting, plans …
Avant Brands reports surge in international cannabis sales during Q3
Canadian cannabis producer Avant Brands Inc. (TSX:AVNT) (OTCQX: AVTBF) reported record third-quarter revenues on Tuesday, driven by surging international demand on its end. The company posted gross revenue of C$9.6 million for the quarter ended Aug. 31, up 27% from a year earlier. Net revenue rose 30% to C$8.5 million. …