Zephyrnet Logo

The Week In Cannabis: Stocks Tumble, Kevin Harrington And Rickie Fowler Join The Industry

Date:

Cannabis stocks were back in the red this week, despite a mixed bag of news.

Cannabis investment firm Cannapreneur Partners tapped “Shark Tank” star Kevin Harrington to be a part of its team. Touted as an original shark on the ABC show, as well as the inventor of the infomercial asco-executive producer of As Seen on TV, Harrington now serves as a strategic advisor and brand ambassador for Cannapreneur Partners and its portfolio companies.

Seed-to-shelf CBD company Kadenwood LLC named PGA Tour Pro Golfer Rickie Fowler a brand ambassador.

HEXO Corp. (TSX:HEXO) (NYSE: HEXO) reported third-quarter net revenue of CA$22.1 million ($16.2 million), up 30% sequentially. Hexo’s net loss fell from CA$298 million in the second quarter to CA$19.5 million during the third quarter. The Ottawa-based company entered the U.S. market in mid-April after creating a joint venture with Molson Coors to develop non-alcoholic, hemp-derived CBD beverages in Colorado.

Namaste Technologies Inc (TSE: N) (OTC: NXTTF) and Indiva Ltd. (TSXV: NDVA) (OTC: NDVAF) also reported earnings. You can find the results here.

“Despite many positive aspects of the cannabis industry these days, we are starting to get the first signs of COVID troubles for companies. We’re starting to see forecasts are withdrawn and hints that earnings will be affected. Whether its issues with supply chains or restrictions on retail outlets, cannabis companies will not be able to escape the pandemic,” Debra…

Original Author Link click here to read complete story..

Source: https://mmpconnect.com/the-week-in-cannabis-stocks-tumble-kevin-harrington-and-rickie-fowler-join-the-industry/

spot_img

Latest Intelligence

spot_img