Crash Continues With Most Pot Stocks Down Again In November
Lorimer Wilson | Dec 04, 2019 10:03
The cannabis sector continued to crash across the board in November with almost all marijuana stock, be they Canadian Licensed Producers (LPs) or American Multi-States Operators (MSOs), dropping drastically, as shown below:
Of the above Canadian pot stocks only Valens Groworks Corp (TSXV:VGW) (OTC:VGWCF) bucked the trend, going up 14% during November due in large part to the acquisition of Pommies Cider Co., a leading Ontario-based beverage company and mature micro-processing license applicant which will:
The American segment of the cannabis industry fared much better in November with seven companies showing considerable increases in their share prices, namely:
- TILT Holdings Inc (CSE:TILT) (OTC:TLLTF) +48%The stock responded positively to its Q3 financial report which showed an 18% increase in revenue to US$46.1 million and a first-ever positive adjusted EBITDA.
- C21 Investments Inc (CSE:CXXI) +36%During the month the company reached agreements to maintain positive cash flow by restructuring payments in connection with the purchase of Silver State Relief LLC and Silver State Cultivation LLC and revising terms for the acquisition of Phantom Venture Group LLC and Phantom Brands LLC.
- Curaleaf Holdings Inc (CSE:CURA) (OTC:CURLF) +28%The stock responded positively to its Q3 financial report which showed a 27% increase in revenue to US$61.8 million, a 169% increase in adjusted EBITDA and a 72% reduction in net loss to US$6.8 million.
- Trulieve Cannabis Corp (CSE:TRUL) (OTC:TCNNF) +27The stock responded positively to its Q3 financial report which showed a 22% increase in revenue to a record US$70.7 million, a 16.8% increase in adjusted EBITDA.
- Liberty Health Sciences Inc (CSE:LHS) (OTC:LHSIF) +24%The stock responded positively to its Q2 financial report which showed a 93% increase in revenue to C$10.6 million.
- Planet 13 Holdings Inc (CSE:PLTH) (OTC:PLNHF)+21%The stock responded positively during the month with the announcement that it had received final permits to begin production at its 15,000 square foot customer-facing production facility.
- Green Thumb Industries Inc (OTC:GTBIF) (CSE:GTII) +13%The stock responded positively to its Q3 financial report which showed a 52% increase in revenue to US$68 million, a 23% reduction in net loss to US$17.1 million and an improvement in adjusted operating EBITDA margin to 20.7% from 11.3%.
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