The Week In Cannabis: CannTrust Continues Fall, Earnings A Mixed Bag, Clio Goes Green

CannTrust Holdings Inc (NYSE: CTST) plummeted last week after issuing a press release acknowledging it hat failed a Health Canada inspection in July. The company said it accepts the findings and is already taking actions to fix its wrongdoings.

Meanwhile, Greenlane Holdings, Inc. (NASDAQ: GNLN) posted a net sales increase of 30.6% in the second quarter of 2019, with sales totaling $53 million, and Canopy Growth Corp (NYSE: CGC) tumbled after reporting an adjusted EBITDA loss of CA$92 million ($69.1 million), up from CA$22.5 million ($16.8 million) last year. Canopy’s first-quarter net loss rose from CA$90.9 million a year ago to CA$1.281 billion.

Commenting on Canopy’s results Patrick Sanders, assistant managing editor for investing at U.S. News World Report, told Benzinga, “The markets overreacted when CGC reported losing more than $1 billion in the last quarter. It was a sexy headline and made for a

... read more at: https://www.benzinga.com/markets/cannabis/19/08/14287185/the-week-in-cannabis-canntrust-continues-fall-earnings-a-mixed-bag-clio-goes-green

by