Business

Planet 13 Holdings Inc. (CSE:PLTH) released its year-end results on Tuesday and it also provided an update on the performance of its SuperStore.

Curaleaf Holdings, Inc. (CSE:CURA)(OTCQS:CURLF) acquires Cura Partners, Inc. for CAD $1.27 billion in what's the biggest deal in the U.S. thus far involving cannabis.

Sproutly Canada, Inc. (CSE:SPR)(OTCQB:SRUTF) has reached an agreement with Moosehead Breweries Limited to form a joint venture to work on developing and producing cannabis beverages.

Green Relief Inc. could be an intriguing investment opportunity when it inevitably IPO's.

Charlotte's Web Holdings, Inc. (CSE:CWEB) has brought on Adrienne Elsner as new the CEO to help ramp up its growth across the U.S.

Zenabis Global Inc (TSX-V:ZENA) announced it is partnering with a pharmaceutical company based out of Germany, Farmako. The two companies are going to be working together on a couple of initiatives, including selling CBD isolate oil in Canada along with selling cannabis to the German medical market.

Origin House Records Big $6.2 Million Loss Despite Impressive Sales Growth of Over 630%

Columbia Care Inc. (NEO:CCHW) launched on the NEO exchange, becoming the first cannabis company to list on the exchange with a market capitalization of more than a billion dollars.

Pot stocks are still in their early growth stages. And while sales are high, so too are expenses, which is not a good recipe for financial statements. Many companies are bleeding cash and are nowhere near profitability. However, that hasn't stopped the hype from carrying stocks to sky-high valuations and investors from getting into a frenzy about the growth prospects for the industry.

OrganiGram Holdings Inc (TSX-V:OGI) announced that it has completed an application to have its shares traded on the NASDAQ.

We take a look at some of the cannabis companies redefining North America's cannabis retail experience.

The Green Organic Dutchman Holdings Ltd (TSX:TGOD) announced last week that its facility in Hamilton, Ontario received a license from Health Canada to sell cannabis oil.

The drama between Green Growth Brands Ltd (CSE:GGB) and Aphria Inc (NYSE:APHA)(TSX:APHA) has dragged on for far too long.

Aurora Cannabis Inc (NYSE:ACB)(TSX:ACB) announced it has entered into an agreement with EnWave Corporation (TSX-V:ENW) to use its Radiant Energy Vacuum (REV) technology.

Acreage Holdings Inc. (CSE:ACRG.U) is already benefiting from a deal that hasn't even gone through. Recently, we learned that Canopy Growth Corp (NYSE:CGC)(TSX:WEED) was going to acquire Acreage but that the purchase would be contingent on marijuana first being legalized federally in the U.S. While that seems like a long ways away, that doesn't mean it hasn't been yielding results for Acreage already.

Aurora Cannabis Inc (NYSE:ACB)(TSX:ACB) has caused issues with some of its neighbours regarding the smell that comes along with producing marijuana. And because Aurora Cannabis wants to be a good neighbour, it's working on trying to do what it can to minimize the impact.

Delta 9 Cannabis (TSX-V:NINE) reported its quarterly earnings late Monday night. Revenues of $5.27 million for the quarter were 17 times the total that The Company recorded a year ago of just $302,284. Not only did Delta 9 show significant sales growth from last year, but even from Q3, which didn't include a full quarter of recreational sales. Revenues were more than quadruple the $1.25 million that was generated in the previous quarter. There was tremendous growth in Delta 9's top line that's sure to continue as we see the industry continue to grow.

Planet 13 Holdings Inc. (CSE:PLTH) has already been doing amazing since November when it launched its SuperStore location in Las Vegas. Sales have been rising each month and recently The Company even brought on Mike Tyson into the mix, selling products from his ranch on store shelves. This past weekend, on April 20, The Company announced it had its best day ever since opening the store.

Cannabis investors have yet another option for a marijuana ETF. AdvisorShares Pure Cannabis ETF (NYSE Arca:YOLO) is actively managed and contains a mix of both U.S. and Canadian stocks. The ETF began trading last week on the NYSE Arca Exchange and as of yesterday held 23 different stocks.

Let's look at who the top five cannabis companies in terms of sales, and then relate that to their market caps to see which ones are more reasonably priced.

CannTrust Holdings Inc (NYSE:CTST)(TSX:TRST) released an update on Monday on how The Company did during its most recent quarter, which ended March 31.

Zenabis Global Inc (TSX-V:ZENA) announced on Monday that The Company had received conditional approval to move to the TSX from the Venture Exchange.

Aurora Cannabis Inc (NYSE:ACB)(TSX:ACB) is launching a new competition that will be sure to be a big hit with the cannabis industry and budtenders across the country. In what The Company is calling a 'national competition,' Aurora is searching for the 'Top Budmaster' in Canada.

Canopy Growth Corp (NYSE:CGC)(TSX:WEED) Co-CEO Bruce Linton never lacks confidence. His latest projection of where The Company is headed, however, might be a little much, even for him.

MedMen Enterprises Inc (CSE:MMEN) is going through a lot of turmoil these days. Not only is The Company burning through lots of cash and is facing a lawsuit from its ex-CFO, but now it's seeing some important members of its team depart.

There is a big bill circulating the U.S. government that could have a big impact on the cannabis industry. The Strengthening the Tenth Amendment Through Entrusting States (STATES) Act could lead to significant opportunities in the U.S. It could help open the door to more consolidation of U.S. and Canadian operations and lead to more mergers and acquisitions. Here are five companies to watch for if the bill passes.

April 20, aka 4/20, is coming up and one way cannabis enthusiasts can celebrate it is with a CBD-infused burger from fast-food chain Carl's Jr. According to the Company, it has enough supply to be able to sell at least 1,000 burgers containing CBD.

National Access Cannabis Corp (NAC) (TSX-V:META) released its second-quarter results on Tuesday. Sales for the company's first full quarter where the recreational market was open were significant, coming in at over $16.2 million. In the previous quarter, sales were $3.8 million for the three months ending November 30.

MedMen Enterprises Inc (CSE:MMEN) announces preliminary results for Q3 which included sales up until March 30.

On April 18, investors will have the opportunity to invest in a new marijuana ETF, the first that focuses on U.S. pot stocks.

The last time Canopy Growth Corp (TSX:WEED)(NYSE:CGC) was trading this low was back in January. Although it was beginning to look like 2019 was going to be a strong year for The Company, we've seen the market start to have some doubts about it as over the past weeks Canopy Growth's stock price has started to falter.

OrganiGram Holdings Inc (TSX-V:OGI) released its Q2 results on Monday. Net revenues of $26.9 million were about eight times the sales that The Company generated a year ago, which totalled just $3.4 million. However, despite the incredible sales growth, OrganiGram's bottom line finished in the red with a loss of $6.4 million compared to a profit of $1.2 million in the prior year.

The State of Colorado recently updated its sales numbers for cannabis, and they're continuing to slide. With $119 million in sales for February, it was the lowest month that the State had since February of last year when it earned $113 million. It was also the second consecutive month that total cannabis sales were down.

Mike Tyson launched his marijuana products with Nevada-based Plant 13 Holdings Inc (CSE:PLTH), where they would be the exclusive launch partner for his products in the State.

Aphria Inc (TSX:APHA)(NYSE:APHA) released its third-quarter results on Monday, showing significant growth for the quarter. For the period ending February 28, which included a full three months of the recreational market, net revenues reached just under $74 million. That's an increase of 617% from the prior year when sales were just $10 million.

Unilever (NYSE:UN) is a massive consumer goods company. It hasn't acquired a cannabis company and it's not about to start growing its own pot, but one of its subsidiary companies is looking to sell CBD-infused deodorant products

Canopy Growth Corp (TSX:WEED)(NYSE:CGC) joins the S&P/TSX 60. It's another big first for the cannabis industry as it continues to gain credibility among investors.

Trulieve Cannabis Corp (CSE:TRUL) released its fourth-quarter earnings on Wednesday, with sales for the quarter totalling more than $35.9 million, increasing by 172% year over year. For all of 2018, its sales were $103 million - five times what Trulieve recorded in 2017.

Oregon has a marijuana supply problem. According to a report from the Oregon Liquor Control Commission, updated on March 2, there is nearly 1.2 million pounds of marijuana inventory sitting in the State in what it calls "usable marijuana."

It's been an odd few weeks for pot stocks where we've seen some big names struggle, while smaller companies have been on the rise.