Cannabis Watch: The $4 billion time bomb ticking away inside the biggest marijuana companies [MarketWatch]
The $4 billion time bomb ticking away inside the biggest marijuana companies As pot-stock mania gripped North America in 2018, a bidding war struck up for a relatively small marijuana-growing property in a Toronto suburb. The 9,000-square-foot facility was only capable of growing about C$12 million ($9 million) worth of pot in a year, but that didn’t seem to matter. Marijuana companies were surging in interest and market cap as Canada planned to legalize recreational pot sales, and companies that established at least one cultivation license were receiving beneficial treatment from Health Canada, which meant snagging the property and its accompanying license could lead to a legitimate growing business in more ways than one. RavenQuest BioMed Inc. RVVQF, +2.35% RQB, +2.13% eventually “won” the bidding, agreeing to pay nearly C$30 million. But after Health Canada stopped expediting requests from license holders, RavenQuest was unable to capitalize on its purchase in the way it had
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- Why Cannabis Stocks Aphria, Aurora Cannabis, Charlotte's Web, and Tilray Slid Today [The Motley Fool]The Motley Fool
- Are Higher THC Levels In Legal Cannabis Becoming Too HighPR Newswire
- Aurora Cannabis Inc. (<a href="https://www.marketbeat.com/stocks/NYSE/ACB/price-target/">NYSE: ACB</a>) had its price target lowered by analysts at CIBC from $18.50 to $15.00. They now have a "neutral" rating on the stock.MarketBeat
- Companies Partner with Researchers to Identify New Uses of Hemp ProductsPR Newswire
- New York Inches Closer to Legalizing Recreational Cannabis [TheStreet.com]TheStreet.com
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