Illinois medical cannabis sales for July were released and left overall sales for the state up 6% from a year ago and just 1.6% sequentially from June. Michigan adult-use flower sales boomed, leaving July sales at a record $210 million, up 12% sequentially.
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 opened its 3rd NJ dispensary in Fort Lee.
- AYRWF opened its 50th Florida medical dispensary and its third Massachusetts adult-use store, Somerville.
- CCHWF launched its first pre-rolls in NY.
- CEAD posted $3 million in revenue in Q2 and ended with cash well above its market cap at $20.6 million and no debt.
- CRON revenue slipped sequentially but grew a lot from last year on better profitability in Q2.
- CRLBF praised the success in Illinois for social equity groups helped by its SEED Initiative
- CURLF named a new CFO and two additional hires. The company's Q2 report was in line with expectations for revenue ($338 million) and better than expected on adjusted EBITDA ($86 million). It took control of Polish company, CanPoland, and a German company, Four 20 Pharma.
- CWBHF had a big miss in Q2, with revenue of $18.9 million and adjusted EBITDA of -$5.4 million. The company engaged Hanson Faso Sales and Marketing for the central part of the U.S. The company also revealed a premium sports product line undergoing NSF's certification process.
- GDNSF posted a stronger-than-expected Q2 at $21.1 million revenue.
- GNLN secured a $15 million asset-based loan.
- GRWG lost is CFO, replacing Jeff Lasher with Greg ...