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Nice timing... Just as Woodstock festers celebrated their 50th reunion, cannabis stocks enjoyed their busiest week of the summer. Two of the biggest publicly traded pot companies revealed their earnings from the last quarter, both showing that it's hard out there for cannabis companies.
It's actually been a tough weed summer... Canopy's media-savvy CEO was just fired by its big new investor because he wasn't moving fast enough on CBD-infused drinks for the US market. CannTrust shares hit an all-time low after authorities seized some illegally-grown cannabis. And Sundial Growersrecently IPO'd but was caught selling pot with mold.
Weed profits won't come for years... Canopy's CEO admitted that it could be half a decade before it's profitable. So pot companies are shifting their geographic strategy to find some wholesome profits.
Only. One. More. Day. The Snacks Daily podcast returns to your ears tomorrow.
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