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
- New Jersey approved more conditional adult-use licenses and also awarded conditional licenses to the 7 existing operators.
- Michigan cannabis sales expanded just 5% from a year ago during March.
- 420 Investor model portfolios have returned -7.3% to -8.8% year-to-date, while the Global Cannabis Stock Index has lost 21.8%
Review
New Jersey approved 34 conditional licenses for adult-use manufacturing and cultivation and gave the green light to 7 medical cannabis providers to soon begin providing adult-use sales. Michigan cannabis sales grew 5% from a year ago to $153.2 million in March.
During the week, I shared these insights with subscribers at 420 Investor:
- Model Portfolio Composition 04/08/22
- Cannabis Sub-Sector Review – 04/08/22
Here are some of this week’s highlights for 420 Investor Focus List names:
- AAWH received conditional approval for adult-use sales in New Jersey.
- CCHWF received conditional approval for adult-use sales in New Jersey. It rebranded its Chicago dispensary to Cannabist.
- CRLBF introduced premium brand FloraCal Farms in Illinois.
- CURLF received conditional approval for adult-use sales in New Jersey. It signed a CBD distribution agreement with WB Canna to expand its sales to the Caribbean market.
- FFLWF expanded its distribution services to Manitoba.
- GNLN announced that a new director is replacing KushCo co-founder Dallas Imbimbo, and it named a new Chief Accounting Officer.
- GTBIF opened its sixth Minnesota medical cannabis dispensary. It received conditional approval for adult-use sales in New Jersey.
- OGI met revenue expectations and exceeded the estimates for profitability, reporting 5% sequential growth to C$31.8 million revenue and adjusted EBITDA of C$1.6 million.
- PLNHF began an expansion project to add 22K sq. ft. of cultivation in Nevada.
- TLRY will be moving ...
