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
- Illinois Cannabis Sales grew 12.5% compared to a year ago in March
- The House passed the Medical Marijuana Research Act
- 420 Investor model portfolios have returned -5.9% to -3.4% year-to-date, while the Global Cannabis Stock Index has lost 19.0%
Review
Illinois cannabis sales grew 14.6% sequentially in March to $163 million, which was up 12.5% from a year ago. BDSA data for February showed a lift from depressed January levels across all markets. The House passed similar legislation to the Senate’s recent medical cannabis research bill. The Medical Marijuana Research Act, H.R. 5657, passed 343-75.
During the week, I shared these insights with subscribers at 420 Investor:
- Model Portfolio Composition 04/01/22
- Cannabis Sub-Sector Review – 04/01/22
- Previews of Upcoming Financial Reports for Tilray and Verano Holdings
- Hifyre Q1 Canadian Retail Estimates
- A First Look at Leafly
- Previews for Upcoming Financial Reports from Organigram and Valens
Here are some of this week’s highlights for 420 Investor Focus List names:
- CEAD announced that an existing customer purchased an air filtration system.
- HBORF completed the acquisition of Loudpack and will change its name to StateHouse later in April.
- TCNNF partnered with DeLisioso to become its exclusive producer, processor and retailer in Florida. It also opened an adult-use store in Massachusetts, its third in the state.
- TLRY introduced its first edible in Quebec. The company’s Q3 revenue and adjusted EBITDA fell below expectations, with cannabis sales declining 6% sequentially. The 10-Q revealed that the company tapped its ATM aggressively from March into early April, raising $90 million gross proceeds.
- TRSSF opened its third Cookies dispensary in Michigan.
- VLNS closed its unit offering, which totaled C$32.3 million after ...
