Aurora Cannabis has agreed to buy U.S.-based CBD company Reliva, giving the struggling Canadian company a business foothold in America. Shares of Aurora closed off nearly 13% ahead of the Wednesday afternoon announcement. The stock surged higher in after-hours trading. However, over the past 12 months, Aurora has lost nearly 90% of its stock market value […]
canada marijuana
Cannabis firm Aurora’s stock jumps 19% in pre-market trading as sales surge during coronavirus
Canada-based marijuana producer Aurora Cannabis pulled off high sales during the early months of the coronavirus pandemic. The licensed weed producer in Alberta posted third quarter revenues of $53.4 million (all figures in this post are in US dollars) on Thursday – an 18% jump from the previous quarter – driven by a 24% increase in sales […]
Scientists Pinpoint The Ideal Legal Age For Smoking Marijuana
In the United States, you have to be 21-years-old before you can buy a cigarette, alcohol, or recreational marijuana. Unlike cigarettes and alcohol, the legal age for marijuana is decided by states and not the federal government. Why states have settled on 21 as the legal age, meanwhile, is a bit nebulous — some lawmakers argue it’s to […]
‘The legal stuff is garbage’: why Canada’s cannabis black market keeps thriving
Cannabis may be legal in Vancouver but visitors looking to score are likely to run into a seemingly counterintuitive suggestion: try the black market. Recreational marijuana was legalised across Canada in October 2018. And yet on Reddit, the specialist forum website used by millions every day, many of Vancouver’s cannabis connoisseurs still swear by their underground supply. This […]
Canada’s Marijuana Sales Topped $110 Million in a Month for the First Time
One year ago, marijuana stocks were about the hottest investment on Wall Street. Today, they’re considered an investment that some wouldn’t touch with a 10-foot pole. The expectation had long been that Canadian pot sales would skyrocket as soon adult-use weed received the green light in licensed dispensaries. Unfortunately, things didn’t go as planned, with […]
Canopy Growth to cut more costs after smaller-than-expected loss
Canopy Growth Corp WEED.TO on Friday reported a smaller-than-expected loss in the third quarter, as the Canadian pot producer kept a tight lid on costs amid growing investor pressure to turn in a profit. U.S.-listed shares of the company rose over 15% in premarket trading. Late last year, major shareholder Constellation Brands Inc’s STZ.N finance head David Klein took […]
More pain in store for Canadian marijuana companies after Aurora Cannabis, Tilray cut jobs
Investors are bracing for more job cuts and writedowns at Canadian cannabis producers before the industry stabilizes and becomes profitable, after two of the biggest weed companies, Aurora Cannabis ACB.TO and Tilray TLRY.O announced cost reductions this week. Canada legalized recreational cannabis in October 2018 but profits have proven elusive for most marijuana companies as fewer-than-expected retail stores, higher […]
Pot seizures jumped at U.S. border in the year after Canada legalized cannabis
Marijuana seizures at the U.S. border jumped in the year after Canada legalized recreational cannabis. Figures provided by the U.S. Customs and Border Protection (CBP) show American officers seized 2,214 kg of marijuana from travellers entering the U.S. between Nov. 1, 2018 and Oct. 31, 2019, up from just 1,259 kg over the same period […]
Canada Has Sold This Much Marijuana Since Its Legalization Day
According to pretty much every Wall Street analyst and independent report, legal marijuana is the next great growth trend. Sales of legal weed have more than tripled on a global basis since 2014 to $10.9 billion, and are on pace to gallop higher by five to 18 times current levels by the end of the next […]
How marijuana is poised for a North American takeover
The United States is feeling some North American peer pressure to get in on the cannabis boom. Producers in Canada, where marijuana is legal for medicinal and recreational uses, are already planning for a future where pot is a globally traded commodity, and some are setting themselves up to profit if it is legalized in […]
