12:00:04 PM PDT - Friday, August 7th, 2020

The Week In Cannabis: Strong Earnings, Stocks In Green, Investments And Divestments  

By Editor - Sat Aug 01, 6:13 am

Cannabis stocks, and overall markets, closed the week in the green, as cannabis companies got into their earnings season.”Earnings season is just starting to come to life as Scotts Miracle Gro (NYSE: SMG)'s Hawthorne group just crushed it,” Debra Borchardt, Editor-In-Chief of Green Market Report told Benzinga. “Things are going so well over at Scotts that even the non-bonus employees received bonuses. How rare is that in this pandemic economy and how nice of a company to share the wealth with everyone.”Also reporting earnings this week was Aphria Inc. (TSX: APHA) (NASDAQ: APHA), which achieved its fifth consecutive quarter of growth. The Leamington, Canada-based company reported a year-over-year revenue spike of81% to CA$53.1 million (US$39.7 million).Adult-use cannabis revenue amounted to CA$56.7 million, up by 27% sequentially, according to its fourth-quarter earnings report. Aphria generated CA$152.2 million in overall net revenue, seeing a sequential and year-over-year increase of 5% and 18%, respectively.”Our strong finish to fiscal year 2020 demonstrates that this was a transformative year for Aphria, as our net revenue increased 129% from fiscal year 2019,” noted Chairman and CEO Irwin Simon.Body and Mind Inc

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The Week In Cannabis: Strong Earnings, Stocks In Green, Investments And Divestments

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