Marijuana Companies’ Sales Disappoint. The Stocks Plunge. | Medical Marijuana Program Connection
Marijuana Stocks, Finance, & Investing November 16, 2018 MJ Shareholders 0
Canada’s pot industry reported its latest financial results this week, and investors think the September quarter was a bust.
The U.S.-listed stocks of Canadian producers
Canopy Growth
(ticker: CGC),
Aurora Cannabis
(ACB), and
Tilray
(TLRY) are sinking. Since Monday, when Aurora reported a 333% sales jump from its year-ago quarter, its New York Stock Exchange–listed stock has slipped 18%, to US$6.16. Nasdaq-listed Tilray stock is down 11% on the week, to US$102, despite an 86% sales rise. And NYSE-listed Canopy is down 14%, to US$34.30, on an embarrassing September sales miss.
While sales at these weed leaders grew nicely from year-ago periods, the revenue totals weren’t large….
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