Expect at least a dozen pot companies to go bankrupt in 2020

INNO

According to Tilray’s chief executive officer the COVID-19 pandemic is likely to force at least a dozen cannabis companies to file for bankruptcy. Most companies need liquidity as the industry is young.

“Based on the calls that I’m getting, I’m expecting another dozen more as funding has dried out,” he added. “If companies haven’t already strengthened their balance sheet, they’ve got a hard road ahead.”

CEO of Tilray (BNNBloomber Interview)

Recent Earnings

Tilray, Inc. Reports First Quarter 2020 Financial Results ...

Results: Loss of $1.73 per share on revenue of $52.1 million.

Source: BNN

 

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