Navigate the fast-moving cannabis sector with 420 Investor, a premium service that sends real-time alerts and explanations of the news below and much more.
Summary
- Data from BDSA suggested cannabis sales were very sluggish across the U.S. in January
- Hifyre data suggested a that cannabis sales in February were similar on a per-day basis to January
- Illinois adult-use sales of $114 million in February grew 41% from a year ago and increased on a per-day basis from January
- 420 Investor model portfolios have returned -18.0% to -13.2% year-to-date, while the Global Cannabis Stock Index has lost 20.3%
Review
BDSA data for January suggests that cannabis sales were weak across the country. Illinois adult-use sales for February of $114 million, down slightly from January, which had 3 more days, and up 41% from a year ago. Hifyre data for February suggests that sales per day were similar to January, with the largest LPs continuing to lose market share.
During the week, I shared these insights with subscribers at 420 Investor:
- Previews of Financial Reports for Cronos Group, Curaleaf, GrowGeneration and Lowell Farms
- Cannabis Sub-Sector Review – 02/25/22
- Model Portfolio Composition 02/25/22
Here are some of this week’s highlights for 420 Investor Focus List names:
- CEAD reported its first complete design services contract.
- CRON Q4 revenue increased 26% sequentially to $25.8 million.
- CURLF Q4 revenue was slightly behind expectations as it grew 1% to $320 million, but its adjusted EBITDA was ahead of expectations at $80 million. Guidance for 2022 of $1.4-1.5 billion revenue was below the prior expectation of $1.6 billion.
- GDNSF launched flower in Minnesota.
- GNLN received notification from NASDAQ that it faces delisting on 8/24.
- GTBIF met expectations with a Q4 4% sequential increase in revenue to $244 million, but its profitability was slightly below what had ...
