As ‘Cannabis 2.0’ kicks off in Canada, industry strangled by limited retail outlets

As ‘Cannabis 2.0’ kicks off in Canada, industry strangled by limited retail outlets
(Reuters) – A year after Canada legalized use of recreational marijuana cannabis stocks have lost half their market value, and investors betting that the launch of higher-margin pot-infused drinks and other products will quickly lift shares may be in for a bumpy ride. FILE PHOTO: Cannabis products on display at the Hunny Pot Cannabis Co. retail cannabis store after marijuana... Read More

Alibaba to stop sales of e-cigarette components in United States

Alibaba to stop sales of e-cigarette components in United States
FILE PHOTO: A logo of Alibaba Group is seen at an exhibition during the World Intelligence Congress in Tianjin, China May 16, 2019. REUTERS/Jason Lee/File Photo (Reuters) – Chinese e-commerce firm Alibaba said on Wednesday it will stop selling e-cigarette components in the United States, amid growing regulatory scrutiny and reports of lung disease and some deaths linked to vaping.... Read More

U.S. seeks advertising, sales data on e-cigarette companies

U.S. seeks advertising, sales data on e-cigarette companies
WASHINGTON (Reuters) – The U.S. Federal Trade Commission has ordered a half-dozen e-cigarette companies to turn over sales and advertising data, the federal regulator said on Thursday, in the first sign of a likely probe into their marketing practices. FILE PHOTO: Federal Trade Commission seal is seen at a news conference at FTC headquarters in Washington, U.S., July 24, 2019.... Read More

Short sellers circle cannabis stocks as profits dwindle

Short sellers circle cannabis stocks as profits dwindle
NEW YORK (Reuters) – Wall Street’s love of cannabis appears to be going up in smoke as vaping-related ailments and missed revenue projections are prompting short sellers to raise their bets against the industry, fund managers and analysts said on Wednesday. FILE PHOTO: A thriving marijuana plant is seen at a grow operation in Denver, Colorado December 31, 2013. REUTERS/Rick... Read More

Vape product concerns weigh on Canadian cannabis companies looking for sales boost

Vape product concerns weigh on Canadian cannabis companies looking for sales boost
TORONTO (Reuters) – A U.S. recommendation that consumers avoid vaping products containing the active ingredient in marijuana ahead of their legalization in Canada next month could be a blow to Canadian cannabis companies’ hopes that the higher-margin products will help propel them to profitability. FILE PHOTO: An employee prepares an order for a customer at the Fire and Flower store... Read More

Timeline: Significant events in the history of Juul

Timeline: Significant events in the history of Juul
(Reuters) – The following are some significant events in the history of Juul. FILE PHOTO: A store selling Juul vaping products is seen in Los Angeles, California, September 17, 2019. REUTERS/Lucy Nicholson 2007— Stanford design graduates James Monsees and Adam Bowen found Ploom Inc, drawing from their thesis project on a new kind of cigarette. 2012- Ploom introduces Pax, a... Read More

Walmart to stop sales of e-cigarettes in U.S. stores: company memo

Walmart to stop sales of e-cigarettes in U.S. stores: company memo
WASHINGTON (Reuters) – Walmart Inc (WMT.N) told staff on Friday it was discontinuing the sale of e-cigarettes and electronic nicotine delivery products at its U.S. stores. FILE PHOTO: Walmart’s logo is seen outside one of the stores in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski In an internal memo seen by Reuters, the retailer said growing federal, state and... Read More

GE shares fall on Madoff whistleblower calling its finances a fraud

GE shares fall on Madoff whistleblower calling its finances a fraud
(Reuters) – General Electric Co (GE.N) shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE’s new CEO. GE Chief Executive Officer Larry Culp said Markopolos’ 175-page report contained factual errors and constituted “market manipulation... Read More

Canopy Growth needs another 3-5 years to turn profit

Canopy Growth needs another 3-5 years to turn profit
FILE PHOTO: A sign featuring Canopy Growth Corporation’s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018. REUTERS/Chris Wattie (Reuters) – Canopy Growth Corp (WEED.TO) said on Thursday it expects another three to five years to turn in a profit as Canada’s largest cannabis company invests heavily to diversify and expand. U.S.-listed shares of Canopy... Read More

GE shares fall on report alleging its finances are worse than disclosed

GE shares fall on report alleging its finances are worse than disclosed
(Reuters) – General Electric (GE.N) shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems. In a 175-page report, Markopolos accused GE of hiding $38 billion in potential losses and asserted that the company’s cash and debt positions were far worse... Read More