Rotten Tomato Stocks
No Result
View All Result
  • News
    Park Outside: Hyundai, Kia Recall Vehicles Due to Fire Risk

    Park Outside: Hyundai, Kia Recall Vehicles Due to Fire Risk

    Stocks Fall, Bond Yields Tumble After Fed’s Latest Rate Hike

    Stocks Fall, Bond Yields Tumble After Fed’s Latest Rate Hike

    First Majestic Shares Drop After Mining at Nevada Operation Suspended

    First Majestic Shares Drop After Mining at Nevada Operation Suspended

    Wheat Futures Fall After Export Deal Reached

    Wheat Futures Fall After Export Deal Reached

  • NYSE
    Kellogg (NYSE:K) Takes On Some Risk With Its Use Of Debt

    Kellogg (NYSE:K) Takes On Some Risk With Its Use Of Debt

    UnitedHealth Group Inc. stock falls Thursday, underperforms market

    UnitedHealth Group Inc. stock falls Thursday, underperforms market

    Chewy stock dips as earnings show shrinking customer count, forecast of no profit growth

    Chewy stock dips as earnings show shrinking customer count, forecast of no profit growth

    Nike stock turns lower, as enduring costs, markdowns weigh on margins

    Nike stock turns lower, as enduring costs, markdowns weigh on margins

  • NASDAQ
    Cidara Therapeutics Down 3% After Hours Following FDA Approval

    Cidara Therapeutics Down 3% After Hours Following FDA Approval

    Xerox Holdings Corp. stock falls Thursday, underperforms market

    Xerox Holdings Corp. stock falls Thursday, underperforms market

    Mineralys Therapeutics (NASDAQ:MLYS) Reaches New 52-Week Low After Analyst Downgrade

    Mineralys Therapeutics (NASDAQ:MLYS) Reaches New 52-Week Low After Analyst Downgrade

    Petco Shares Sink 13% After Issuing FY23 Guidance

    Petco Shares Sink 13% After Issuing FY23 Guidance

  • OTC
    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    Corus Entertainment 4Q Profit Falls

    Corus Entertainment 4Q Profit Falls

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

  • TSX
    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    Bitcoin Is Falling: Should You Buy the Dip?

    Bitcoin Is Falling: Should You Buy the Dip?

    CN Rail Stock Is So Undervalued That it’s Absurd

    CN Rail Stock Is So Undervalued That it’s Absurd

  • News
    Park Outside: Hyundai, Kia Recall Vehicles Due to Fire Risk

    Park Outside: Hyundai, Kia Recall Vehicles Due to Fire Risk

    Stocks Fall, Bond Yields Tumble After Fed’s Latest Rate Hike

    Stocks Fall, Bond Yields Tumble After Fed’s Latest Rate Hike

    First Majestic Shares Drop After Mining at Nevada Operation Suspended

    First Majestic Shares Drop After Mining at Nevada Operation Suspended

    Wheat Futures Fall After Export Deal Reached

    Wheat Futures Fall After Export Deal Reached

  • NYSE
    Kellogg (NYSE:K) Takes On Some Risk With Its Use Of Debt

    Kellogg (NYSE:K) Takes On Some Risk With Its Use Of Debt

    UnitedHealth Group Inc. stock falls Thursday, underperforms market

    UnitedHealth Group Inc. stock falls Thursday, underperforms market

    Chewy stock dips as earnings show shrinking customer count, forecast of no profit growth

    Chewy stock dips as earnings show shrinking customer count, forecast of no profit growth

    Nike stock turns lower, as enduring costs, markdowns weigh on margins

    Nike stock turns lower, as enduring costs, markdowns weigh on margins

  • NASDAQ
    Cidara Therapeutics Down 3% After Hours Following FDA Approval

    Cidara Therapeutics Down 3% After Hours Following FDA Approval

    Xerox Holdings Corp. stock falls Thursday, underperforms market

    Xerox Holdings Corp. stock falls Thursday, underperforms market

    Mineralys Therapeutics (NASDAQ:MLYS) Reaches New 52-Week Low After Analyst Downgrade

    Mineralys Therapeutics (NASDAQ:MLYS) Reaches New 52-Week Low After Analyst Downgrade

    Petco Shares Sink 13% After Issuing FY23 Guidance

    Petco Shares Sink 13% After Issuing FY23 Guidance

  • OTC
    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    Corus Entertainment 4Q Profit Falls

    Corus Entertainment 4Q Profit Falls

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

  • TSX
    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    Bitcoin Is Falling: Should You Buy the Dip?

    Bitcoin Is Falling: Should You Buy the Dip?

    CN Rail Stock Is So Undervalued That it’s Absurd

    CN Rail Stock Is So Undervalued That it’s Absurd

No Result
View All Result
Rotten Tomato Stocks
No Result
View All Result

A Tough Week For Cannabis: MedMen And Hexo See Big Losses

avatar by Editor
November 12, 2019
0
A Tough Week For Cannabis: MedMen And Hexo See Big Losses

It was a tough week for cannabis, but a very good week for psychedelics and hemp. Four major cities took significant steps toward the decriminalization of psilocybin mushrooms and other psychedelic plants. Meanwhile, the United States Department of Agriculture released interim regulations for the production of hemp, opening a channel for the public to weigh in on them.

On the other hand, we saw a series of bad news coming out of major cannabis companies.

MedMen Enterprises Inc. (CSE: MMEN) (OTC: MMNFF) tumbled on a substantial growth in its net losses, which came in at $82.9 million for the fourth quarter, more than double the loss reported in the same period last year. Full-year revenue of $130 million, up by 227% year-over-year, hit a new record.

Hexo Corp. (TSX: HEXO) (NYSE: HEXO) also posted poor fourth-quarter results, with an adjusted net loss of CA$43.73 million ($33.5 million), which the company said was driven by “the significant scale of operations and increased stock-based compensation expense due to higher cannabis market value, increased R&D expenditures and an impairment loss on inventory.”

DionyMed Brands Inc (OTC: DYMEF) failed to restructure its debt or find a strategic buyer to acquire its assets, going into receivership. The company is in default of $24.81 million plus any additional interest, fees and expenses.

“It was a rough week for cannabis companies like MedMen, DionyMed and Hexo Corp,” Debra Borachardt, CEO of Green Market Report said. “MedMen lost control of its board, DionyMed is going bankrupt and HEXO has stumbled badly on projected revenues. It’s the cannabis industry version of The Real World.

“Companies are being forced to reckon with unrealistic and expensive business strategies and get real with the actual money coming in and what can be spent. Investors have shown their displeasure with pie in the sky plans and want real results now.”

Related Posts

China Eastern Airlines 3Q Loss Widens on Low Travel Demand
OTC

China Eastern Airlines 3Q Loss Widens on Low Travel Demand

November 1, 2021
Corus Entertainment 4Q Profit Falls
OTC

Corus Entertainment 4Q Profit Falls

October 22, 2021
Nintendo Co. Ltd. ADR falls Monday, still outperforms market
OTC

Nintendo Co. Ltd. ADR falls Monday, still outperforms market

September 28, 2021
Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%
OTC

Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

September 14, 2021
Load More
Next Post
The F-Word: Why Under Armour Stock Is Likely Headed Lower

The F-Word: Why Under Armour Stock Is Likely Headed Lower

POPULAR NEWS

CNH Industrial (NYSE:CNHI) Use Of Debt Could Be Considered Risky

CNH Industrial (NYSE:CNHI) Use Of Debt Could Be Considered Risky

April 14, 2021
CN Rail Stock Is So Undervalued That it’s Absurd

CN Rail Stock Is So Undervalued That it’s Absurd

May 2, 2021
US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

June 17, 2021
Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

September 14, 2021
10 Warning Signs That Should Tell You “This Stock is in Trouble”

10 Warning Signs That Should Tell You “This Stock is in Trouble”

November 11, 2019

EDITOR'S PICK

Why Suncor (TSX:SU) Stock Could Be a Bargain

Why Suncor (TSX:SU) Stock Could Be a Bargain

April 22, 2021
Vacasa stock plunges after worse-then-expected outlook

Vacasa stock plunges after worse-then-expected outlook

March 14, 2023
Is LCI Industries (NYSE:LCII) Using Too Much Debt?

Is LCI Industries (NYSE:LCII) Using Too Much Debt?

May 22, 2021
Dow profit and sales fall short of estimates, aims to cut $1 billion in costs in 2023

Dow profit and sales fall short of estimates, aims to cut $1 billion in costs in 2023

January 26, 2023

Stay Updated

Get breaking news delivered straight into your inbox

Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Rotten Tomato stocks is a wholly-owned subsidiary of Grainne Capital Limited.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Rotten Tomato Stocks cover the companies and markets that are declining, failing or headed for disaster. We help investors spot the down tends and recognize when something smells rotten.

RECENT POSTS

Park Outside: Hyundai, Kia Recall Vehicles Due to Fire Risk

Kellogg (NYSE:K) Takes On Some Risk With Its Use Of Debt

UnitedHealth Group Inc. stock falls Thursday, underperforms market

POPULAR POSTS

Chewy stock dips as earnings show shrinking customer count, forecast of no profit growth

Cidara Therapeutics Down 3% After Hours Following FDA Approval

Xerox Holdings Corp. stock falls Thursday, underperforms market

© Copyright 2023 RottenTomatoStocks. All Rights Reserved 

Disclaimer | Privacy Policy

No Result
View All Result
  • HOME
  • NEWS
  • NYSE
  • NASDAQ
  • OTC
  • TSX

© 2021 RottenTomatoStocks.com

error: Content is protected !!
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.