Stocks

Florida MCBD is suing New York-based Columbia Care claiming a pattern of wrongful interference as Columbia worked to secure a Florida cannabis business license.

Harborside in California is continuing its challenge of the federal tax code 280E, which the company’s legal team says is unconstitutional and runs afoul of the 16th Amendment.

The Maine Cannabis Coalition is suing the state over its recent decision to remove residency requirements for cannabis licensees.

A recent survey suggests that cannabis companies with the highest-paid executives tended to underperform over the last year compared to the industry average.

CannTrust has had the licenses for one of its grow facilities reinstated after its federal licenses were suspended last year over multiple regulatory violations.

Protests over the police killing of George Floyd took place nationwide over the weekend; in California, cannabis dispensaries were wrecked and looted, including Cookies and several MedMen locations.

Canadian cannabis producer Tilray has announced it will close its 406,000 ft greenhouse in Leamington, Ontario.

Aurora Cannabis announced it will acquire U.S. hemp CBD company Reliva in a $40 million all-stock deal.

Artemis Growth Partners has agreed to the $81 million acquisition of Bridge Farm Group, the UK’s leading ornamental plant, flower, and herb producer.

A recent SEC filing shows that Hightimes Holding Corporation has extended its Regulation A fundraising after a unanimous board decision for an 11-for-1 stock split beginning June 1.

Amid international shakeups, major alcohol distributor Constellation Brands has increased its stake in Canopy Growth Corp. by 5.1 percent, bringing its total stake in the company to 38.6 percent.

The High Times brand is continuing its push into cannabis retail, announcing last week that the company would buy 13 planned and operational California cannabis dispensaries.

Canopy Growth will lay off an additional 200 employees from its facilities in North America and the United Kingdom.

Cannabis supply company Advanced Nutrients says a shipment worth $250,000 was stolen during transit from its Washington-based facility to a warehouse in Valencia, California.

Canopy Growth Corp. has announced a series of changes for the Canadian company, including shutting down all of its operations in Africa, moving to an asset-light model in Latin America, and exiting the U.S. hemp cultivation scene.

Aurora Cannabis Inc. announced a stock consolidation plan this week after its stock traded at less than $1 for over 30 days.

An early investor in Massroots is being sued by the SEC which may lead to forced repayment of $3.2 million in profits booked from 2015-2016.

Cannabis businesses in North America are beginning to experience financial fallout from the ongoing coronavirus pandemic.

High Times Holding Corp. has announced a deal to acquire California’s Humboldt Heritage Inc. and its subsidiaries Humboldt Sun Growers Guild and Grateful Eight LLC.

The Securities and Exchange Commission has launched a confidential inquiry of Cronos Group Inc, a Canadian cannabis company.

Bruce Linton, the renowned former CEO of Canopy Growth, has launched a new company focusing on hemp and CBD investment opportunities.

Hightimes Holding Corp. announced this week it has received a trading symbol from the Financial Industry Regulatory Authority, paving the brand’s way toward a public listing.

Aurora Cannabis has reported a net loss of about $980 million in the second fiscal quarter of 2020. Shares in the company were on the rise this week, regardless.

Aurora Cannabis co-founder and CEO Terry Booth announced his retirement yesterday; meanwhile, the company announced it was implementing a new “business transformation plan” amid rumors of impending layoffs.