Two pot firms give conflicting clues on sector's future [Business News Network (BNN) Energy & Resources (Canada)]
Aphria Inc. (APHA)
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Source: Business News Network
Two pot firms give conflicting clues on sector's future If you are looking for signs of where the cannabis industry is going, take a look at the quarterly reports that two pot companies released late Monday. U.S. cannabis operator Green Growth Brands Inc. — which once had ambitions of becoming a North American pot giant — reported a steep second-quarter loss of US$35.9 million. It also announced plans to sell its cannabidiol business to The BRN Group, a privately-held company that describes itself as a global brand management firm , for an undisclosed sum. Meanwhile, Valens GroWorks Corp., a Kelowna, B.C.-based company that extracts raw cannabis biomass and turns it into a refined product that can be used in vapes, edibles or topicals, reported a rarity in the pot industry: A profitable quarter. The earnings disparity between the two firms offers conflicting clues on where the industry may be going, according to Eight Capital analyst Jenny Wang. While Valens has opted to focus primari
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