David Klein, CEO of Canadian giant Canopy Growth, gave Business Insider ????three reasons he’s never been more bullish on cannabis. They include that no matter what happens in the November election, there will be “pressure” for cannabis reform.
- In quarterly earnings, Canopy reported a ????smaller than expected net loss.
- Klein’s partial year compensation for fiscal 2020 was $33.8M, 1,042x the median compensation for his employees.
- Klein said Canopy’s partnership with hip-hop star Drake has “not been progressing as originally intended.” (Related: Canada’s Supreme Cannabis severed its relationship with Wiz Khalifa.)
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- In other earnings news, Trulieve and Green Thumb Industries beat analysts expectations and Tilray fell short.
- New Cannabis Ventures notes that on earnings, industry-hated tax rule 280E “demolished pre-tax income.“