What Tilray’s recent layoffs could mean for this stock

Earlier this week, Tilray Inc. (TLRY) announced that it was laying off 10% of its workforce as part of a global restructuring – marking one more in a series of downsizings that have plagued the cannabis industry recently. A spokesperson says the company has 1,443 employees globally, with the majority in Canada and Portugal. The company is letting go of roughly 140 people. “The tough decision to eliminate roles has not been taken lightly. We’re extremely grateful to our past and current employees for their contributions,” said Tilray CEO Brendan…

Why are Shares of HEXO Trading Down 14% in the Past Week?

Earlier this week Hexo Corp. (HEXO) stock slid after MKM downgraded the stock on news of a breach of contract lawsuit.   According to court papers, Hexo is being sued by Medipharm Labs Inc. for the non-payment of C$9.8 million ($7.5 million) related to shipments of cannabis resin. The lawsuit alleges that marijuana extractor Medipharm signed a resin supply deal with Hexo subsidiaries last year, but Hexo refused to pay for an October 2019 shipment, among other things. In the suit, Medipharm also claims that Hexo has failed to pay “contractual…

What Sundial’s (SNDL) Executive Shake Up Could Mean for This Stock

Shares of Sundial Growers Inc. (SNDL) took a hit this week amid yet another cannabis C-suite shakeup. Yesterday the company announced a handful of executive changes, which includes the departure of its CEO and COO, in addition to a cost-cutting program. Torsten Kuenzlen resigned as CEO effective immediately, and will also step down as a director. Current board member Zach George will take over as CEO. Executive chairman Ted Hellard will also resign, but remain on the board and continue to head the M&A committee. COO Brian Harriman will be…

Why are Shares of GW Pharmaceuticals (GWPH) Up 15% in 2020?

GW Pharmaceuticals PLC (GWPH) stocks rallied this week after the company released preliminary Q4 results that exceeded forecasts. The driving force behind the GWPH’s performance came from better-than-expected sales of the company’s flagship product Epidiolex, the cannabidiol (CBD)-based drug used to treat epilepsy, Lennox-Gastaut and Dravet syndromes.  Thus far, Epidiolex is the only CBD-based pharmaceutical approved by the FDA. Of the company’s $108 million in fourth quarter sales, $104 million of that came from Epidiolex sales. GW Pharmaceuticals expects to report $309 million in revenue for the entire year, exceeding…

Marijuana ETF Hits All-Time Low, Will Pot Stocks Continue to Plunge?

Today ETFMG Alternative Harvest ETF (MJ) stock hit an all-time low, leaving many investors wondering if the cannabis sector will continue to bottom out. MJ is the largest cannabis ETF worldwide (and the first U.S.-listed ETF to focus directly on the global cannabis industry), so its recent plunge could be indicative of the overall cannabis stock market. The ETF’s stock was down 0.7% this morning, its 8th-straight decline and 2nd-straight record closing low. Throughout the past three months, MJ stock dropped 30% as shares of Aurora (ACB) slipped 37%, Canopy…