Halo Collective Inc (HCANF)

[Scumbag Fraudsters]

Patient investors in many pot stocks have watched their money go up in smoke.

Oct. 23, 2019 PRNewswire – While it may appear very enticing to jump in on the legalization of cannabis by investing in the sector, leading reviewers are coming out strong against putting your money in pot stocks. They say it's no place for your money.

Bloomberg Nov 16, 2019

In a matter of months, white-hot cannabis companies have flamed out in spectacular fashion. Many have lost two-thirds or more of their value.

The pain deepened on Thursday, when Ontario, Canada-based Canopy Growth Corp. announced revenue that fell short of the lowest Wall Street estimate and a loss that one analyst called “astounding.” That sent shares to their lowest price since December 2017. It’s still the largest pot company in the world, but at $7.1 billion Canadian, its market value is just a sliver of the $24 billion it reached in April.

One day later, MedMen Enterprises Inc. of Culver City, one of the first U.S. cannabis companies to sell shares to the public, said it would dismiss 190 employees, including about 20% of its corporate workforce, as it struggles to preserve a dwindling cash pile.

Invictus MD Strategies Corp (OTCQX: IVITF) (TSX-V: GENE), for example, has been in the business since 2014 but has yet to turn a profit. In the last twelve months, the company has seen its stock decline by 90% with a continuous stream of negative news. Investors, and certainly institutions, will likely steer clear until something is done to turn the company around. Invictus appears to have run out of money and looks as though they are doing their best to band-aid their payroll, it's probably just a short matter of time until we see this company filing for Bankruptcy.

4 major cannabis companies reported disappointing earnings Last Month.

1. Tilray Inc.
Markets Insider
Ticker:TLRY

Reported earnings: November 12, 2019

Here's what the company reported (in Canadian dollars), versus what analysts surveyed by Bloomberg expected:

Adjusted Ebitda loss: $23.5 million reported, versus $19.3 million (expected)
Revenue: $51.1 million reported, versus $48.9 million (expected)
Stock reaction post-earnings: -3%

2. Cronos Group
Markets Insider
Ticker:CRON

Reported earnings: November 12, 2019

Here's what the company reported (in Canadian dollars), versus what analysts surveyed by Bloomberg expected:

Adjusted Ebitda loss: $23.9 million reported, versus $19.7 million (expected)
Revenue: $12.7 million reported, versus $13.7 million (expected)
Stock reaction post-earnings: -7.3%

3. Aurora Cannabis
Markets Insider
Ticker:ACB

Reported earnings: November 14, 2019

Here's what the company reported (in Canadian dollars), versus what analysts surveyed by Bloomberg expected:

Adjusted Ebitda loss: $39.7 million reported, versus $20.8 million (expected)
Revenue: $75.2 million reported, versus $90.6 million (expected)
Stock reaction post-earnings: -17.3%

4. Canopy Growth Corp.
Markets Insider
Ticker:CGC

Reported earnings: November 14, 2019

Here's what the company reported (in Canadian dollars), versus what analysts surveyed by Bloomberg expected:

Adjusted Ebitda loss: $155.7 million reported versus $96.1 million (expected)
Revenue: $76.6 million reported versus $102.3 million (expected)
Stock reaction post-earnings: -14.4%

There's no guarantee that Halo will be around 2 years from now, or that investors will someday be rewarded mightily for their patience.

Putting money in OTC stocks should be called gambling, not investing. And the stocks are rigged so the house wins almost every hand.