Jay-Z-backed Parent Company’s revenue beats on hot weed demand

Jay-Z-backed Parent Company’s revenue beats on hot weed demand

(Reuters) – Californian pot producer TPCO Holding Corp, better known as Parent Company, beat estimates for quarterly revenue on Monday as demand surged for weed-infused products during the pandemic.

The Jay-Z-backed company also said Clorox Co executive Troy Datcher would replace Steve Allan as its chief executive officer, without giving a reason for the change.

Formed earlier this year with the merger of a blank-check firm and three Californian cannabis companies, TPCO sells edibles, vape…


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