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Cannabis Summary for Oct. 11, 2019

2019-10-11 21:10 ET - Market Summary

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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index rose 4.44 points to 439.84 Friday, ending the week down 37.27 points. Crop Infrastructure Corp. (CROP) sank two cents to three cents on 9.19 million shares after finally announcing the need for major changes to the management of its United States investment companies. Crop said it would take remedial action to overhaul management of several of its non-productive investments in U.S. LLC companies. Crop has investments in six U.S. cannabis companies operating in California, Nevada, Oklahoma and Washington. The company's chief executive officer, Michael Yorke, was quick to play victim, saying, "We believe Crop and our shareholders deserve better representation after these very disappointing performances." If Crop felt comfortable allocating its capital to the management of these companies, then it deserves much of the blame. Mr. Yorke, however, is staying put as the CEO. No changes there.

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