Here’s the introduction to their article
The party is over for cannabis companies.
Share prices of marijuana producers tumbled last week, some by nearly 40%, after a string of disappointing quarterly reports and mounting skepticism about the industry’s rosy growth forecasts.
Among the news this week: Two U.S. companies scrapped a merger initially valued at nearly $700 million. One Canadian producer said its prospects had become so uncertain that it was pulling its forecast for next year. Another warned it needed to find new sources of funding.
“The capital markets have dried up,” said Brian Athaide, chief executive of Green Organic Dutchman Holdings Ltd. , a marijuana grower. The Toronto-area company said Thursday that construction financing for two cultivation and processing facilities, one slated for more than 1.3 million square feet, was being delayed.