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Canopy Growth CEO Says German Cannabis Market Has ‘Ability To Grow 10x’ Following Legalization

By Erica Kollmann
March 26, 3:30 PM
Last week, the German government partially legalized cannabis, and Canopy Growth shares lit up. Canopy Growth CEO David Klein joined BNN Bloomberg on Friday and discussed the effects of the legislation for the company.  Klein sees Germany's cannabis market growing from its current value of just under $500 million to an over $2.5 billion market in the next 2 years.

CGC

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Body and Mind’s Q2 Revenue Flat YoY, Narrows Loss By 94%

By Jelena Martinovic
March 26, 2:16 PM
Body and Mind announced on Tuesday its financial results for the second quarter of fiscal year 2024 ended Jan. 31, 2024, revealing a 94% year-over-year drop in net loss. The company said that during the quarter it has entered into a definitive agreement to divest its Nevada cultivation and production operations for a total consideration of $2 million to fund its projects in Illinois and New Jersey. According to CEO Michael Mills these two markets "continue to be underserved and offer significant opportunities for revenue growth as we expand our brand and bring our skilled teams to these new markets." "The most recent quarter reflects our work to improve financial performance, improve margins and streamline our operations to support building our operations in Illinois and New Jersey," Mills said. "Nevada's wholesale pricing challenges and wholesale tax structure made it difficult to see the Company's Nevada operations generating sufficient profits over the long term when compared with the opportunity presented by taking the proceeds from Nevada's sale and continuing to build on our Illinois and New Jersey opportunities."

BMMJ

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Morningstar Trims Tilray’s Price Target, Here’s What’s Behind It

By Jelena Martinovic
February 20, 2:33 PM
Morningstar reduced its price target for Tilray Brands, Inc. (NASDAQ: TLRY) from $3.30 to $3.10, on Wednesday, Feb 14, all while keeping its four-star rating intact. According to Kristoffer Inton, the analyst, three reasons contributed to the price decline, including reduced revenue in the short term driven by ongoing market fragmentation, pricing compression, and still present illicit market in Canada."We forecast CAGR for net revenue from cannabis to be roughly 8% through fiscal 2033," the analyst said. "Our forecast is based on moderate price increases of roughly 3% per year, with weaker price growth in the Canadian recreational market due to Canadian consumers' preference for value over premium."

CSE:MMEN