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Non-Tech : Marijuana Stocks

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From: kidl	1/2/2020 12:52:28 PM
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FP says Canopy Growth might see sluggish beverage sales Canopy Growth Corp (C:WEED) Shares Issued 348,562,895 Last Close 12/31/2019 $27.31 Thursday January 2 2020 - In the News The Financial Post reports in its Thursday edition that the cannabis industry is expecting a slew of bankruptcies in the coming year as small and medium-sized companies low on cash struggle to raise funds. The Post's Vanmala Subramaniam writes that even the pot companies with strong cash positions could see a rocky year ahead. Most of the major licensed producers -- Canopy Growth, Hexo and Tilray -- have invested heavily in cannabis-infused drinks that will hit the market in the first quarter, but some industry observers are predicting that beverages might be a failed venture altogether. "When you look at the established markets in the U.S. -- California, Oregon and Colorado -- beverages are just 2 per cent of those markets. They never really took off," said Jerome Hass of Lightwater Partners. Mr. Hass believes that some licensed producers are vastly overstating the impact beverages will have on overall sales. His company invested in a small brewery in Waterloo, Ont., that he once thought would be a "perfect play" for cannabis-infused drinks. "They had a canning facility and excess capacity so we thought these guys would be a prime beneficiary of cannabis 2.0." In the end, the brewery lost interest in the venture. © 2020 Canjex Publishing Ltd.

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