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.”
- 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.”
- 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
Grizzle released an infographic explaining their understanding of oversupply, naming one culprit as “too much ditch weed.”