Review
After a big down-day on Monday, the market popped on news Thursday that the Senate will be voting on the Cannabis Administration and Opportunity Act. Michigan grew 26% from a year ago and 0.5% from May in June to $187.4 million in cannabis sales. Illinois completed its reporting of June cannabis sales by disclosing the medical sales, which remained weaker Overall, sales grew 5% compared to a year ago to $155.3 million.
I distributed this written material to 420 Investor subscribers during the week:
- Curaleaf Is More Expensive Than MSO Peers
Previews for Organigram and for Valens
Weekly Review 07/08/22
Cannabis Sub-Sector Review - 07/08/22
Model Portfolio Composition 07/08/22
Here are some of this week's highlights for Focus List names:
- AYRWF launched adult-use sales at its second store in Massachusetts (Watertown).
- CRLBF shareholders approved a move to repurchase all of the Super Voting Shares.
- CURLF - launched Craft Farmers in California to encourage legacy growers and diversification.
- CWBHF - is working with SBM, LLC, a benefits manager, to launch hemp CBD products.
- FFLWF began delivery in BC
- GTBIF - extended its debt maturity by a year to 4/30/25.
- HBORF will change its name to StateHouse on the 25th of July. It cancelled a 6:1 reverse-split of its stock.
- OGI - sales grew 20% sequentially to a record C$38.1 million, ahead of expectations, with adjusted EBITDA of C$586K.
- PLNHF - will apply for a consumption lounge license in Las Vegas.
- TCNNF - opened 2 new medical cannabis dispensaries in Florida.
- TLLTF - suggested that the project with the Shinnecock Indian Nation in New York will open its doors in January.
- TLRY - finalized its $155 million investment in HEXO Corp. convertible notes. It launched brand CANACA in Calgary.
- VFF - announced that subsidiary Balanced Health Botanicals found in a research ...
