Aurora Cannabis Inc. shares sank to a two-year low Friday after its revenues missed expectations and the pot producer announced it was halting construction at one production facility and pausing work at another to save more than $190 million in planned expenses.
The Green Organic Dutchman Holdings Ltd. shares fell sharply in early trading following a $20.1 million third quarter loss for the cannabis company as the industry struggles to meet expectations.
Cannabis company Cronos Group Inc. reported a profit in its third quarter, boosted by a large gain in derivative liabilities, as revenue grew to $12.7 million.
Shares in Organigram Holdings Inc. fell in early trading after the cannabis company said its fourth-quarter net revenue is expected to be lower than what the company saw in its third quarter.
Drake is teaming up with Canopy Growth Corp. for a new venture to sell recreational cannabis and accessories in Canada and abroad, a move that could quickly establish the hip-hop superstar as a major player in the legal pot industry.
Canopy Growth Corp. expects to have about 30 next-generation pot products on the market by the end of the year, including distilled cannabis to be used in mixed drinks.
Cannabis company Hexo Corp. is moving to undercut prices in the illicit market with a new 28-gram product that costs consumers as much as one dollar less per gram than at the average illegal dispensary.
