First cannabis earnings following virus outbreak reported On the earnings front, Tilray reported a wider-than-expected net loss for the first quarter. Against the backdrop of earnings season and the global coronavirus pandemic, the chief executive officer of Tilray warns that at least a dozen cannabis companies are poised to declare bankruptcy. Still, the company managed to beat revenue estimates, nearly doubling its revenue to $52.10 million for the quarter ending March 2020. If companies haven’t already strengthened their balance sheet, they’ve got a hard road ahead,” Kennedy explained. Based on the calls that I’m getting, I’m expecting another dozen more as funding has dried out.
Against the backdrop of earnings season and the global coronavirus pandemic, the chief executive officer of Tilray warns that at least a dozen cannabis companies are poised to declare bankruptcy.
In an interview with BNN Bloomberg this week, Brendan Kennedy said he is surprised that only about a dozen bankruptcies have been declared seeing as the legal market for weed in Canada was already plagued with difficulties before the COVID-19 outbreak began.
“I’ve actually been surprised by the dozen bankruptcies that have already happened. Based on the calls that I’m getting, I’m expecting another dozen more as funding has...
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