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Cannabis Summary for Nov. 8, 2019

2019-11-08 18:53 ET - Market Summary

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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index rose 13.73 points to 412.83 Friday, finishing the week on a high note. CB2 Insights Inc. (CBII) jumped 2.5 cents to 12.5 cents on 525,900 shares after releasing its results for the second quarter of 2019. CB2 is a research and technology company that focuses on medical cannabis. The company offers guidance (staffing, training and data) to medical cannabis companies that are setting up clinics and/or clinical trials. It also provides data and analytics to these companies.

CB2 lost $1-million on revenue of $4.2-million in the third quarter of 2019. CB2 Insights' losses have been decreasing in 2019; in Q1, the company lost $2.1-million, in Q2 it lost $1.8-million and in Q3 it lost $1-million in Q3. These declines were accompanied by increases in revenue. In Q1, it recorded $2.9-million, in Q2 $3.3-million and then, as mentioned, in the third quarter $4.2-million. While CB2 Insights' results have been getting better, the company's share price has not. Since listing in March at 50 cents, CB2 has dwindled to today's closing price of 12.5 cents.

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