Texas attempted to legalize hemp last year. However, there was a lot of confusion about whether the state legalized or decriminalized cannabis.
Canopy Growth (NYSE:CGC) lost 25.4% in 2019. The company reported weak sales and higher-than-expected operating losses in the last two quarters.
Aphria stock fell due to weak sales and its lower fiscal 2020 guidance. On Tuesday, the stock fell before closing at 6.49 Canadian dollars.
Acquisitions could boost Curaleaf's production and retail footprint significantly. With the EBITDA expected to rise over the next two years, there's significant upside.
In the first quarter, OrganiGram beat analysts' revenue estimates. The company has been an interesting pick in the cannabis space.
Many people expected the Cannabis 2.0 products, including cannabis edibles, to hit the markets by mid-December 2019. However, the products got delayed.
So far, cannabis stocks have rebounded in 2020, which investors expected. The marijuana industry struggled in 2019. Overall, the rebound will take time.
Today, Aphria reported its earnings for the second quarter of fiscal 2020. For the quarter, the company reported revenues of 120.6 million Canadian dollars.
Most US states are looking forward to cannabis legalization in 2020. Recently, Governor Andrew Cuomo promised to legalize cannabis in New York in 2020.