These are challenging times for the cannabis industry — public company stock prices are sagging, unsold inventory is growing, and Cannabis 2.0 feels more like Cannabis 1.1.
Hackers exposed roughly 3.4 million user records, together with usernames, electronic mail addresses and IP addresses, of marijuana cultivators at GrowDiaries.com, a web-based neighborhood the place growers weblog about their crops and may promote seeds to different growers.
The safety breach occurred Sept. 22 and was reportedly found Oct. 10 by Volodymyr Diachenko, a database safety researcher.
Most investors would love for their investments to deliver a 30% annual return. But a 30% return in just one month would be absolutely fantastic.
Some cannabis investors enjoyed even higher gains than that last month. Here are the best marijuana stocks of October -- and whether or not they're buys now.
Four more states could choose to legalize recreational marijuana through ballot measures this Election Day.
When it comes to cannabis, it’s hard to say just what a Trump presidency has meant to the industry.
One of legal cannabis’s greatest selling points is an obvious one: It’s a plant! Smokable cannabis flower, in particular, has the shortest connection to its original agricultural state. It’s simply dried and cured buds, plucked straight from the original plant.
For folks looking for natural relief from a variety of symptoms, or casual consumers looking to kick back and relax, it’s hard to find a remedy as closely connected to the earth as cannabis.
And yet the rise of legal cannabis has also introduced a growing environmental cost:
When Aurora Cannabis acquired greenhouse design firm Larssen in late 2017, it was a shot across the bow of rival Canadian marijuana producers.
In short, the Alberta-based producer was signaling to the industry it intended to win the “funded capacity” race at any cost – even if that meant buying the company designing your greenhouse.
Let's call it like it is. Aurora Cannabis (NYSE:ACB) is an underperforming stock, with its shares down more than 90% over the last 12 months. That's not only worse than the S&P 500, up over 12% during the same period, but it's not even close to the Horizons Marijuana Life Sciences Index ETF, which includes many of Aurora's peers and has fallen by 46%.
During the last month, we have highlighted Aurora Cannabis Inc. (ACB.TO) (ACB) as a former leader in the Canadian cannabis market and emphasized the company’s need to raise additional capital.
Our prediction came true and today, Aurora Cannabis filed a base shelf prospectus to raise up to $500 million over the next 25 months. The prospectus did not provide much details on the offering as it relates to the type of security that may be sold and we expect to receive more clarity from the Canadian cannabis producer in the near future.
As Americans head to the polls more divided than ever on social and economic issues, there’s one thing they’re actually coming together on: cannabis.
Much has been made of whether a victory for Democratic nominee Joe Biden, or a potential liberal sweep in the Senate, could bolster marijuana companies. But initiatives on the ballot in a handful of conservative states show Republicans are increasingly on board with legalization as well — perhaps paving the way for an end to federal prohibition, no matter who controls Washington.
