Canada reported October cannabis sales of C$389 million, up 9.5% from a year ago and the slowest annual growth to date.
I distributed this written material to 420 Investor subscribers during the week:
420 Investor Weekly Review 12/16/22
420 Investor Model Portfolio Composition 12/16/22
Cannabis Sub-Sector Review - 12/16/22
Here are some of this week's highlights for Focus List names:
- CRON announced that Altria relinquished the out-of-the-money warrant to take control of the company, a move that permitted Altria to take a big tax-loss ($483 million).
- CURLF opened its 55th Florida medical cannabis dispensary.
- CWBHF named a new CFO.
- TCNNF closed two debt securities, one for $71.5 million and the other for $18.9 million. It also announced a settlement with OSHA in Massachusetts.
- TRSSF reduced its debt by $35 million, paying down its Pennsylvania credit agreement.
- UGRO announced Good Lettuce Company in New Jersey as a new cannabis client.
- VRNOF opened its 62nd Florida medical cannabis dispensary.
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.
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The Global Cannabis Stock Index posted a new all-time closing low of 9.55 on Thursday and a new intraday low of 9.40. It was slammed lower this week to 9.71, ending down 11.9% for the week. This was a lot worse than the 0.2% ...