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Online event will examine the growth of U.S. cannabis market, the role of leading cannabis companies, legal challenges, and other industry priorities Salinas, California (Newsfile Corp. - June 2, 2021) ....
Six under-the-radar U.S.-focused cannabis picks Shirley Won Published May 19, 2021 unknown/iStockPhoto / Getty Images U.S. cannabis stocks have taken a beating, providing a buying opportunity for investors looking to bet on a pot boom south of the border. Optimism for marijuana legalization pushed by top Senate Democrats helped fuel a rally until February, but the sector sold off amid market concerns about rising interest rates and owning riskier securities as well as tightened financing by some brokerages to hedge funds. Although federal reforms may be slower in coming, the U.S. industry is growing with more states legalizing medical and adult-use cannabis and some companies on the road to profitability. ....
Vertically integrated cannabis company Lowell Farms Inc. (CSE:LOWL) (OTCQX:LOWLF) said Tuesday it has generated $11 million in revenue during the first quarter of the 2021 fiscal year, representing an increase of 17% year-over-year. The Salinas, California-based company, formerly known as Indus Holdings Inc., recently bought Lowell Herb Co., a California-based organic cannabis brand, in a $39 million cash and stock deal and opted to change its name. “We are seeing promising results from the sales of the recently acquired Lowell Herb Co. branded products,” Lowell Farms CEO Mark Ainsworth disclosed. “While we saw improvements in revenue year-over-year, the results showcased in this quarter still reflect the headwinds we encountered in 2020,” he commented on the first-quarter results. ....