Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for the week of October 28th – November 3rd, 2019.
Without further ado, let’s get started.
Brad Rogers, CEO of Super-State Operator Red White & Bloom Goes In-Depth with Greg Hasty of CannabisFN
CFN Media, one of the largest cannabis-focused financial networks just published an interview with Red White & Bloom (CSE: RWB – IPO Soon) CEO Brad Rogers. The video interview was filmed on-site at the Benzinga Cannabis Capital Conference in Chicago last week.
Topics covered in the interview included: How the RWB story began, RWB’s colossal 3.6 million sq ft indoor CBD cultivation facility, Michigan and Illinois revenue projections, the nationwide CBD opportunity via huge retailers such as Walmart, Target, CVS and Walgreens and the true meaning of the term “Super-State Operator” plus much more.
Gronkowski Ready to ‘Gronk Spike’ CBD Market With New CBDMEDIC Business Deal
The Trajectory of Pot Stocks Could Change Dramatically When Institutional Investors Begin to Buy-in
With large institutions still reluctant to invest in pot, Canadian retail investors continue to dominate the public floats of many cannabis stocks, especially those based in the U.S. For example, institutions hold less than 1% of the float of Curaleaf (CSE: CURA) (OTCQX: CURLF), 1% of Cresco Labs (CSE: CL) (OTCQX: CRLBF) and 3% of Green Thumb (CSE: GTII) (OTCQX: GTBIF).
Following Poor Q4 Earnings, MedMen Amends $250 Million Gotham Green Credit Facility
MedMen (CSE: MMEN) (OTCQX: MMNFF) released its Q4 earnings yesterday after the closing bell and the “Apple Store of Weed” disappointed investors once again. MedMen reported revenue of $42 million for the fourth quarter, an increase of 104% year-over-year. However, MedMen’s adjusted EBITDA loss for the full-year was more than triple 2018’s.
The Warning Signs Were There All Summer, But it Wasn’t Until the First of September That the Day of Reckoning Arrived
After markets closed on September 3rd, Aurora Cannabis (TSX: ACB) (NYSE: ACB) tried to sell its 10.5% stake in The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) to public investors.
The industry’s original financial backers have now largely moved on to more promising U.S.-based companies, or are out of the sector altogether. Retail investors, meanwhile, are still heavily invested, holding 80% or more of many cannabis companies’ shares.
HEXO Posts Revenue of $15.4 Million, Loss of $56.7 Million
Hexo Corp. (TSX HEXO) (NYSE: HEXO) released its financial results for the fourth quarter of 2019, recognizing net revenues of $15.39 million during the quarter while posting a total net loss of $56.68 million.
Canopy Growth (TSX: WEED) (NYSE: CGC) has rolled out its first batch of cannabis drinks and chocolates, with products ranging from psychoactive ginger ale, to a CBD-infused cucumber and mint sparkling water, to “Bean & Bud” cacao medallions.
HEXO’s New Licences Allow for the Sale of Cannabis Edibles, Beverages, Extracts and Topicals
Is a Diverse Canadian Market Really Cannabis 2.0? Or is it the Enormous Opportunity South of the Border?
Canadian cannabis stocks all face headwinds and yet they trade for heavy multiples, as shown by the comparison charts below. These prices are not justified until the true prize in the North American market comes into play–and that is the United States.
- AltaCorp’s Canadian pot stock recommendations and price targets.
- TCI’s current U.S. MSO watchlist.
Liberty Health Sees Q2 Net Revenue Surge to $10.63 Million, LHS Stock Jumps 20% in Response to Stellar Earnings
Liberty Health (CSE: LHS) (OTCQX: LHSIF) released its earnings this morning for the second quarter ended August 31, 2019. The company saw its consolidated net revenue for the quarter jump 378.88% year over year.
Move Over Curaleaf, There’s a New MSO in Town and it’s Set to Hit The Street Soon
Get the full details here so you don’t miss out on the next potential 10 bagger.