The Week In Cannabis: Corporate Turmoil, Mass Layoffs And Stocks In Red

Boutique, High Quality, Low Cost players in the hemp oil / CBD space we hope will gain consumer trust and be the 1st choice. There are tons of mass manufacturers making inferior products to Pure Midwest. We urge you to select Pure Midwest and continue to understand why you should.

It was a turbulent week, with both Tilray Inc (NASDAQ: TLRY) and Aurora Cannabis Inc (NYSE: ACB) announcing mass layoffs, each getting rid of approximately 10% of employees.

Tilray CEO Brendan Kennedy explained the move was part of a companywide restructuring focused on driving continued growth. “By reducing headcount and cost, Tilray will be better positioned to achieve profitability,” he said in a statement.

Aurora experienced an ever bigger shakeup, which included the retirement of its CEO Terry Booth, who will be replaced by interim CEO Michael Singer. Aurora also laid out a plan to increase the size of its board and a “business transformation plan” as it seeks to achieve positive EBITDA. These moves may signal an industry-wide issue, and an inevitable market correction. Read about it here.

Our Take: Boutique, High Quality, Low Cost players in the hemp oil / CBD space we hope will gain consumer trust and be the 1st choice. There are tons of mass manufacturers making inferior products to Pure Midwest. We urge you to select Pure Midwest and continue to understand why you should. www.puremidwest.co/why

https://finance.yahoo.com/news/week-cannabis-corporate-turmoil-mass-204554107.html

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