Review

Illinois adult-use cannabis sales lifted 7% sequentially to $135.7 million, up 6.% from a year earlier. Hifyre July data predicts that the month will be a record for sales in Canada, up 7% sequentially from June.

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

• Financial Previews for Canopy Growth, GTI, GrowGeneration, IIPR and Scotts Miracle-Gro

• Cannabis Sub-Sector Review - 07/29/22

• 420 Investor Model Portfolio Composition 07/29/22

• 420 Investor Weekly Review 07/29/22

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

• AYRWF introduced its LIT cannabis brand (premium flower) in Massachusetts.
• CCHWF introduced a cannabis loyalty mobile app in 14 markets.
• CGC named a former Aphria veteran as new Chief Legal Officer. It generated C$110.1 million revenue in fiscal Q1, but it had a massive loss due to a write-down.
• GDNSF launched cannabis-infused gummies in Minnesota.
• GNLN will conduct a 1-20 reverse-split on 8/9 to retain its NASDAQ listing.
• GRWG reported a weaker-than-expected Q2, with revenue down 44% from a year ago to $71.1 million despite the M&A it has closed since then.
• GTBIF reported a solid quarter ahead of expectations with revenue increasing 5% sequentially to $254.3 million in Q2.
• HYFM pre-announced Q2 substantially lower than what was expected and reduced its outlook for 2022.
• IIPR reported Q2 revenue at a record of $70.5 million, up 44%. AFFO per share was up $2.14, up 30%.
• PLNHF announced a purchase option for an Illinois dispensary for the 51% owned by Frank Cowan.
• SMG experienced a weak fiscal Q3 for revenue and updated its FY22 outlook for EPS of $4.00-4.20.
• TCNNF opened a Trulieve dispensary in Arizona, its first there. It also opened another in Florida.
• TLRY named Southern Glazer's as its CBD beverage distributor in the U.S. It also announced a deal with the Denver Broncos for its Breckenridge Distillery limited-edition Mile High Bourbon Blends.
• VRNOF opened a new medical cannabis dispensary in Maryland, its fourth there. The company also opened its 54th in Florida.

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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.

Market Performance

The Global Cannabis Stock Index fell a bit during the week despite overall market strength, decreasing 0.8% to 15.27, still up from the all-time low close of 14.76 set 6/30:

Tickers: SMG GRWG IIPR CGC GTBIF TLRY PLNHF TCNNF CCHWF GNLN HYFM AYRWF GDNSF VRNOF