U.S. cannabis industry tipped to hit $41 billion by 2025
It is quite clear that the cannabis industry in the United States has the potential to grow significantly in the next few years. According to analysts with Nielsen, the cannabis industry in the United States alone is all set to grow into a $41 billion industry by the year 2025. That indicates a fivefold increase. That being said, the estimates also include the value of the hemp industry.
EARNINGS
Tilray has a mixed Q2
Tilray (TLRY) has not had a great year so far and in its Q2 2019 earnings, the company managed to perform as per expectations. The revenues rose as much as a fourfold year on year and touched $45.9 million. However, at the same time, it is important to look at the quantum of product that has been sold by the company. In that regard, Tilray managed to clock 5,588 kilos and that managed to outshine the 1,514 kilos it had sold back in Q1 2018. The revenue managed to beat analysts’ expectations of $41.1 million as well. The company’s net losses for the quarter stood at $31.2 million or loss of $0.32 per share. In the prior-year period, the net losses had stood at $12.5 million.
Canopy Growth
Canopy Growth (CGC) is one of the biggest marijuana companies in the world but its second-quarter financial results proved to be one of the biggest disappointments in the earnings season. The company’s performance was a far way off the estimates that had been delivered by analysts and it continued to be a disappointment for most of its investors. The company’s net revenues in the second quarter came in at CA $ 90.5 million, which reflects a threefold rise from the Q1 2019 numbers.