The $4 billion time bomb ticking away inside the biggest marijuana companies.
As pot-stock mania gripped North America in 2018, a bidding war struck up for a relatively small marijuana-growing property in a Toronto suburb.
Months later, RavenQuest recorded a C$11.7 million impairment charge for the license at the end of the company’s fiscal year — a loss that was nearly 20 times more than its most recent quarterly revenue. The world’s largest pot company by market value, Canopy Growth Corp. CGC, -6.64% WEED, -5.76% , says it has C$1.54 billion of goodwill, according to its latest available financial statements. Since its last fiscal year, it has added $1.23 billion from acquisitions, including C$539.3 million from its purchase of Hiku and C$327 million from the acquisition of Ebbu. Prior to its last fiscal year, Canopy Growth previously added C$207.1 million in goodwill from its Mettrum acquisition in fiscal 2017.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Teen Mom' Recap: Amber Portwood Snaps at Andrew, Says She's Like 'a Ticking Time Bomb'In the months before her alleged attack on Andrew, the TeenMomOG star admitted to being irritable, combative and enraged (via toofab)
Read more »
CBS and Viacom to merge, reuniting the storied network with Comedy Central, MTV and Paramount PicturesBreaking: CBS and Viacom are reuniting in a $12-billion deal that will bring together such well-known brands as CBS, MTV, Nickelodeon and Showtime.
Read more »
WeWork just filed to go public — Check out the company's journey from one SoHo building to a $47 billion valuationWeWork, the coworking-space company under the umbrella of The We Company valued at $47 billion, publicly filed its IPO paperwork on Wednesday.
Read more »
One of the Most Lucrative Regulatory Jobs in Washington Is Now OpenOne of the highest-paying jobs in public service just became available: heading a small but powerful regulator responsible for overseeing the $4 trillion market for state and local bonds.
Read more »
https://www.shape.comI guess it's time to throw away those old socks and upgrade my entire sock drawer.
Read more »
Macy's plummets to its lowest level in 9 years after slashing its profit forecastThe company's CEO cited rising inventory levels and a markdown for clearing spring stock as the biggest hits to Macy's bottom line.
Read more »