It would be an understatement to say that Canadian pot producer Aurora Cannabis (NYSE: ACB) is having a tough go. The company is coming off a disappointing fourth quarter in which its sales declined 5% from the previous period, and it is forecasting revenue to continue its fall in the next quarter. It has a new CEO, but there are no signs that the leadership switch will provide any immediate fixes. Its shares are already down more than 80% this year and could continue to fall even further. Needless to say, this is not what investors were hoping for.

When billionaire investor Nelson Peltz joined Aurora in 2019, many investors saw him as someone who could add stability and unlock growth opportunities, by using his connections to broker a deal with a company from another industry, not unlike the arrangement rival Canopy Growth (NYSE: CGC) has with Constellation Brands (NYSE:

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Researchers tested a new form of medical marijuana that treats pain but doesn’t get the user high, prompting patients who need medical marijuana to declare, ‘Thank you?’ – Jimmy Fallon

When Vegas steps in, you know it will be big, loud, and flashy, and Planet 13 Holdings Inc. (OTCQX:PLNHF) exemplifies this perfectly.

Planet 13 Holdings Inc. is a vertically integrated cannabis company based in Las Vegas, Nevada. The company is probably best known for its massive cannabis superstore located just off the Vegas strip. Their flagship store recorded an impressive $63M in revenue and over one million visitors in 2019, accounting for nearly 10% of all of Nevada’s cannabis sales that year.

A store of this kind would have been unheard of only a few years ago. At 13,000 square feet, this complex is massive. Consumers have access to a coffee shop, bistro, event space, and, of course, the dispensary

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BURLINGAME, Calif., Oct. 5, 2020 /PRNewswire/ — California Society of CPAs (CalCPA) and Colorado Society of CPAs (COCPA) announced today that they have collaborated on the development of the 2020 National Cannabis Business Symposium which will take place online, October 26 and 27. The Symposium’s expert speakers will tackle complex federal and state tax, legislative, pandemic and business issues during the two-day event and include CPAs, lawmakers, attorneys, business and association leaders. CalCPA, COCPA and 18 other state CPA societies have partnered to bring this event to accounting and finance professionals across the US who advise cannabis businesses in a $38 billion market.

“Pre-pandemic, cannabis businesses already faced complexity with respect to taxation, regulatory, banking and labor issues,” said Brad Monterio, Chief Learning Officer of CalCPA. “Following months of economic upheaval, mixed with other business challenges and risks, cannabis companies are seeking guidance and advice on navigating these

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(Reuters) – Bruce Linton-led Gage Cannabis Co plans to list on the Canadian stock market in the first quarter of 2021, its president told Reuters, as the U.S.-based dispensary operator looks to capitalize on strong demand for weed during lockdowns.

Linton joined Gage as executive chairman in 2019, months after being ousted from the board of Canopy Growth Corp

– a business he founded in 2013, took public the next year and transformed into the most valued cannabis company through a string of deals. (

Gage, which currently focuses solely on the Michigan market, is expecting sales of around $13.2 million in the third quarter, up 11% from the previous three months.

“We have seen tremendous growth in the Michigan market in 2020 and Gage has been diligent in capturing that growth through its operating assets,” said Fabian Monaco, president of Gage Cannabis.

Weed companies in the United States have

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DENVER, Oct. 1, 2020 /PRNewswire/ — Akerna (Nasdaq: KERN), an enterprise software, leading compliance technology provider, and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), today announced an enhanced integration with Dutchie, the world’s largest and fastest-growing e-commerce solution for cannabis, to provide an optimized experience for cannabis consumers, patients, and business operators.

The integration expands safe online access to cannabis for consumers and patients, particularly at a time where the public health and safety concerns of the COVID-19 pandemic have accelerated the need for online e-commerce solutions across every industry, including cannabis.

“We are incredibly excited about this enhanced integration with an industry leader like Dutchie, which will allow us to deliver a more streamlined, modern online experience to help expand access to cannabis in a safe, compliant manner,” said Nina Simosko, chief commercial officer at Akerna. “We believe the collaboration

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Welcome to Insider Cannabis, our weekly newsletter where we’re bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global cannabis boom.

Sign up here to get it in your inbox every week.

Happy Friday readers,

With the House vote on the MORE Act delayed, all eyes in the cannabis world were on Aurora’s dismal earnings. 

The first earnings call under new CEO Miguel Martin was a tough one — the company lost close to $1.9 billion (CAD) in the quarter — and analysts say the company has a long way to go to turn things around. You can read my full story on the earnings here. 

Elsewhere in public markets, psychedelic medicine company Compass Pathways had a stellar week of trading. Expect to see lots of psychedelic companies, of varying quality, try and pile into the market, piggybacking off of Compass Pathways’ success.

Will we

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Although all eyes have been on tech stocks this year, marijuana remains one of the fastest-growing industries in the world.

Within the U.S., retail cannabis sales are expected to potentially triple between 2019 and 2024 to as much as $37 billion, according to the latest edition of “Marijuana Business Factbook” from Marijuana Business Daily. Meanwhile, BDS Analytics is forecasting over $6 billion in sales for Canada’s pot market by 2024. 

But standing head-and-shoulders above all other pot stocks, at least in terms of popularity with investors, is Canadian licensed producer Aurora Cannabis (NYSE: ACB).

An up-close overhead view of a flowering cannabis plant.

Image source: Getty Images.

What you see isn’t what you get

Roughly one year ago, Aurora looked as if it had all the tools necessary to be a key cannabis player. Its 15 production facilities were expected to yield well over 600,000 kilos of weed per year, when fully operational. The company also had

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Contributors: Laura Ford, Karin Kirschner, Katie O’Hara, Rob Salter and Rahool Sarjua, all of DLA Piper

On September 18, 2020 the Financial Conduct Authority (FCA) published guidance on the listing of cannabis-based businesses onto public stock exchanges in the UK. Here we will consider the key issues arising from the FCA’s statement and how this will impact on businesses looking to raise funds in the UK.

The Background

The legalisation of medicinal cannabis in the UK in 2018 brought great excitement to a number of stakeholders both nationally and internationally, importantly in respect of delivering medicine to those in need, but also to investors seeing a potentially substantial investment opportunity

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Aurora Cannabis (NYSE: ACB), once a favorite among pot investors because of its bold expansion strategy, lost steam in 2019. Aurora’s shares declined 56% last year, compared to a 36% decline of the industry benchmark, the Horizons Marijuana Life Sciences Index ETF. Various external headwinds in Canada affected revenue, and some of management’s rash decisions — including an acquisition spending spree — made it impossible for the company to achieve profitability.

Marijuana sales have been rising in 2020, particularly because of the coronavirus pandemic, which has amplified consumer demand. Aurora is seeing revenue growth this year, but it hasn’t been enough to turn into a profit. The company has made strides to reduce expenses in order to achieve positive EBITDA (earnings before income, tax, depreciation, and amortization) by fiscal year 2021. But to what extent those strategies have played out will be clear when it announces its fourth-quarter

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Law360 (September 18, 2020, 6:09 PM EDT) — From how a statute prohibiting credits and deductions extends to ancillary parties of cannabis clients to the release of an internal industry guide, the Internal Revenue Service’s new marijuana industry website leaves some observers seeking even more guidance.

A flowering marijuana plant on a farm in Los Angeles. The marijuana industry website that the Internal Revenue Service recently introduced represents its first guidance for the industry since 2015. (AP Photo/Richard Vogel) This month the IRS launched a new website for the marijuana industry, which included a link to a frequently asked questions webpage that explained tax payment plans, information about applicable penalties and necessary disclosures for cash transactions exceeding…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you

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