The week was busy with earnings misses and beats, legislative progress, contract and deal adjustments as well as reduced expectations.
As Craig and I said in our recent webcast about the current cannabis investing environment, we do not believe the industry has yet bottomed out as the industry still needs to reset expectations and match business plans to capital – but the process is underway.
Here are the headlines:
- Harvest Health makes dramatic changes
- Harborside misses and guides down
- Curaleaf reiterates 2020 guidance
- MORE Act passes judiciary committee; are higher multiples justified?
- Canopy abandons volume commitment to Neptune – risk or opportunity?
- Terra Tech’s cash deal under renegotiation; equity deals fare better