While virtually all projections for the cannabis industry are optimistic, the path remains challenging for even established companies:
- Vaping company Pax Labs, which earlier this year raised $420M at a valuation of $1.7 Billion, laid off 25% of its workforce. The company, which fired its CEO last month, said his talk of a 2020 IPO was premature.
- A U.S. tax court upheld the constitutionality of industry-hated tax rule 280-E.
- Demand to short-sell pot stocks is boosting fees at online brokerages.
- And north of the border, it’s a (very polite) bloodbath. ????Jesse has all the gory details in WeedWeek Canada.