4 Dec

How the Cannabis Sector Performed in Week 48

WRITTEN BY Mike Benson

Cannabis stocks last week

The cannabis industry (HMMJ) reported a fall in the last week of November, which ended on November 30.

In this series, we’ll discuss the performances of a few cannabis stocks in Week 48, including WeedMD (WDDMF), Curaleaf Holdings (CURLF), Trulieve (TCNNF), Maricann (MRRCF), MedMen (MMNFF), Golden Leaf Holdings (GLDFF), iAnthus Capital (iTHUF), and Vivo Cannabis (VVCIF).

How the Cannabis Sector Performed in Week 48

The chart above lists a few of the developments for the above-mentioned companies in the last week.

Recent developments

Recent developments for a few of the cannabis companies under review are as follows:

  • On November 30, Vivo Cannabis’s subsidiary Harvest Medicine launched a free telemedicine services platform for education and care related to medical cannabis.
  • On November 28, Curaleaf Holdings announced that its shares had been approved for quotation on the OTC Bulletin Board. The shares will trade under the symbol “CURLF” with immediate effect.
  • On November 27, WeedMD announced that it had exported its cannabis genetics to Pharmocann, an Israel based pharma-agricultural medical cannabis producer.
  • On November 26, Wayland acquired a 51% stake in Theros Pharma, a UK-based early stage medical cannabis company.

A few companies from the cannabis industry have released their quarterly results in the last week:

  • On November 30, Vivo Cannabis released its third-quarter earnings results, reporting revenue of $2.3 million in the third quarter, over 1,000% growth compared to $0.2 million in the third quarter of fiscal 2017.
  • On November 29, MedMen released its earnings for the first quarter of fiscal 2019, reporting revenue of $21.5 million, over 1,000% growth compared to its revenue of $1.8 million in the first quarter of fiscal 2018.
  • On November 29, WeedMD released its third-quarter earnings results, reporting revenue of $2.0 million, a ~461% rise compared to its revenue of ~$0.4 million in the third quarter of fiscal 2017.
  • On November 27, iAnthus Capital Holdings released its third-quarter earnings results, reporting revenue of ~$1.1 million in the third quarter of fiscal 2018, over 100% growth compared to $0.5 million in the second quarter of fiscal 2018.

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