420 Investor Weekly Review 10/14/22


Michigan cannabis sales expanded 2% sequentially in September to a record $212 million, up 31.4% from a year ago. Illinois added medical data for September to the previously released adult-use data, and that state saw sales rise 0.2% sequentially in total to $158.7 million, up 3.1% from a year ago.

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

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

  • AYRWF hired an exec from Neiman Marcus Group as its new President.
  • CURLF relocated a dispensary in Deerfield, Illinois to better handle adult-use customers.
  • CWBHF and Major League Baseball inked a CBD Brand partnership where the company will pay MLB $30.5 million over three years, including 4% of its stock up-front, and will also pay a 10% royalty on sales above $18 million.
  • FFLWF CFO Judy Adam is leaving in November for another CFO position. The company announced that it is launching Hifyre in Colorado and that it is working on adding 5 new cannabis store licenses in New Mexico.
  • GDNSF received a termination notice from its former merger partner, Verano Holdings, who is seeking a payment of $17.875 million.
  • GNLN will distribute AUXO products. AUXO products target the consumer and use CCELL technology.
  • TCNNF is opening a new dispensary in Florida.
  • TRSSF borrowed $45.5 million for 5 years from Pelorus Equity Group with an initial interest-rate at 12.77%.
  • UGRO announced that it signed over $50 million in contracts related to design-build in Q3 and reiterated Q3 guidance. The company also announced a $7.5 million acquisition of a Texas-based engineering firm. The company, DVO, generated $5.5 million in revenue over the past year with EBITDA in excess of 20%.
  • VRNOF terminated the previously announced acquisition of Goodness Growth.

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.

There were comments in over 100 discussions in the Forum. Don't miss out on this most informative part of 420 Investor! Not familiar with the the Forum? This video will help! This is a great way to track your favorite tickers, even those not on the Focus List, and to get your questions answered quickly.

Market Performance

The Global Cannabis Stock Index spent most of the week reversing last week's big move but remained above its all-time closing low of 11.26 from 9/30. It fell to 11.73 this Friday, sinking 7.1%. This far exceeded the 1.5% loss in the S&P 500, which is down just a tiny amount in October. The index has climbed 4.2% this month-to-date.

Posted to Benzinga PotProfits on Oct 14, 2022 — 4:10 PM
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