In an assessment of 2019, Cronos co-founder Paul Rosen said the lesson of the last six months of struggle, ” is that building a new industry from scratch is hard and you’re going to have some skid-outs, you’re going to have some blood spilled. It’s natural. […] Some of these companies don’t have a future.”
Bloomberg
- Arcview Group CEO Troy Dayton said to expect opportunities for distressed-asset deals, “collecting companies for pennies on the dollar.”
- At MJBIZCON’s Investor Intel Conference, Cowen Research told the room, “On a revenue basis, the U.S. [multi-state operators] trade at a 40% discount relative to Canadian LP’s.”
Twitter—Deepak Anand - A CIBC World Markets report called this year’s cannabis stock plummet an inevitable “rationalization” of over-inflated prices, and predicted the sector would improve in 2020.
MJ Biz Daily
Zenabis shuffled off its CEO Andrew Grieve and replaced him with Kevin Coft.
Press Release
Grizzle released an infographic explaining their understanding of oversupply, naming one culprit as “too much ditch weed.”
Grizzle
