Layoffs Continue At Canopy Growth, Constellation Brands’ Struggling Cannabis Producer
Posted On April 30, 2020
- Layoffs Continue At Canopy Growth, Constellation Brands’ Struggling Cannabis Producer
- After sparking a Wall Street craze in 2018, cannabis companies fell flat this year, faced with disappointing growth in Canada and a frustrating hodgepodge of regulations in the United States.
- Even the largest firms on the New York Stock Exchange, mostly Canadian marijuana producers, have woken up to a harsh reality: At the December 30, 2019 close, Canopy Growth was down about 30 percent for the year, Tilray had plunged 78 percent and Cronos 26 percent while shares in Aurora Cannabis had been cut in half.
- In the overall industry, the cannabis beverage market is slated to be worth $2.8 billion by 2025, making it a tempting market to pursue.
Read full article: forbes.com