420 Investor Weekly Review 11/04/22


Illinois released both adult-use and medical cannabis data for October, with sales of $160 million, up 0.8% sequentially and 3.1% from a year ago. BDSA data for September suggested that sales remained weak in most markets.

I distributed this written material to 420 Investor subscribers during the week:

Here are some of this week's highlights for Focus List names:

  • AAWH launched Miss Grass products in New Jersey.
  • AYRWF announced two new stores in Florida and the availability of LEVIA there.
  • CCHWF announced the sale of assets in three states to Sean Combs, a move that helps its deal with Cresco Labs to close.
  • CRLBF announced the sale of assets in three states to Sean Combs, a move that helps its deal with Columbia Healthcare to close.
  • CURLF opened its third New Jersey store for adult-use sales.
  • CWBHF has partnered with Tilray Brands in Canada for distribution of CBD products.
  • GNLN announced an agreement with Leaf Trade to increase its B2B visibility. It also closed the $7.5 million capital raise.
  • GTBIF reported revenue in Q3 of $261 million, up 3% sequentially and 12% from a year ago. Both revenue and adjusted EBITDA of $84 million were ahead of expectations.
  • IIPR Q3 revenue grew 32% from a year ago to $70.9 million.
  • JUSHF relocated its Scranton dispensary in Pennsylvania.
  • LOWLF appointed two new independent directors to its Board.
  • PLNHF announced the location of its pending dispensary in Illinois.
  • SMG reported growth at Hawthorne Gardening sequentially in its Q4.
  • UGRO closed the $6.1 million acquisition of DVO Engineering.
  • VRNOF launched BITS, a new low-dose edible.

Please check the Focus List, (which has technical, fundamental and valuation ratings as well as a market-cap table). To help track market caps, we maintain tables for the Canadian LPs and the American cannabis operators and ancillary companies.

There were comments in over 120 discussions in the Forum. Don't miss out on this most informative part of 420 Investor! Not familiar with the the Forum? This video will help! This is a great way to track your favorite tickers, even those not on the Focus List, and to get your questions answered quickly.

Market Performance

The Global Cannabis Stock Index remained above its all-time closing low of 11.26 from 9/30. It rose to 12.72 this Friday, lifting 1.4% during the week. This was much better than the 3.2% loss in the S&P 500, which is down 2.5% November. The cannabis index has dropped 3.5% this month-to-date, slightly more than the decline in the S&P 500, and it has rallied 13.0% thus far in Q4. This is more than double the 5.4% return in the S&P 500.

Posted to Benzinga PotProfits on Nov 04, 2022 — 4:11 PM
Comments on this post have been disabled by the Maven.