Cannabis

Folks are shocked – SHOCKED – that Canopy Growth (WEED.T) lost the money it told you it was going to lose

Far be it for me to stand up for Canopy Growth Corp (WEED.T), a company that has only succeeded in one thing in its entire existence; convincing folks to buy its stock despite never having done anything else right. In recent quarters, and through three CEOs, Canopy has been pretty darn forthright that it was going to lose money for a while because it was broken. 

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Fair trade: Green Organic Dutchman (TGOD.T) does the hard, sensible things required to reset

Because this story is about The Green Organic Dutchman (TGOD.T) and cannabis investors bear grudges, the vast majority of people reading it will already be saying the words, “Fuck Parry, you’ll pump anything for money.”

So let’s get some things out of the way before we start. 1) TGOD isn’t paying for this story, and haven’t been a client for well over a year. 2) TGOD might not be a fan of this story

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Tilray (TLRY.Q) financials are nightmare fuel: Quarterly net loss down 16% to ‘just’ $184m

If Tilray (TLRY.Q) will leave any sort of legacy on the Canadian cannabis landscape, it will be that, for a short time and by virtue of a well-timed and paper-lined public listing, the CEO was the highest paid CEO in North America. For a hot minute, Americans bought in by the truckload and drove the shareprice up like DryShips (DRYS), making the boss a very paper rich man. Everything else the company has managed to achieve has been downhill from there.

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The case that Supreme Cannabis (FIRE.T) is about to shake its demons and go on a rip

Supreme Cannabis (FIRE.T) got a new President and CEO today in Beena Goldenberg, former chief executive officer of Hain-Celestial Canada, and a bona fide pro in the natural and plant-based consumer packaged goods business. This would appear to be a good hire for a company that already has a great reputation for quality products in an industry where the only way to differentiate yourself is being absurdly cheap or absurdly good. She’s picked a fine time to jump in; the company has already done some hard work in turning its fortunes around, and (to me) looks like its found a nice bottom to launch off.

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Vext Science (VEXT.C) seizes the opportunity in Arizona

“Medical marijuana dispensary owners who opted to expand into the adult-use market largely would do so in their existing physical locations,” stated The Phoenix New Times, “adding new staff and providing separate sales counters for medical and retail customers.”

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European office supplies manufacturer takes Wayland Group (WAYL.C) weed grow for $12.3m

The Wayland Group (WAYL.C) announced Thursday Austria-based Ring Holding International AG will purchase their Maricann assets, which essentially make up their entire business, for the bargain price of $12.3 million as part of ongoing bankruptcy proceedings. The purchaser of the Maricann assets is a family office with a core focus on the manufacturing of lever arches used in ring binders. Yes, ring binders.

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Aurora (ACB.NYSE) rolls back, Gaia Grow (GAIA.V) rolls on

“The simple fact of the matter is ACB is getting around a THIRD of their product returned in real dollar terms,” wrote Equity Guru’s Chris Parry two months ago, “That means they either REALLY suck at growing weed, or they really sucked at figuring out what the market was going to look like when planning their business.”

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Revive Therapeutics (RVV.C) warned about overhype, but up 26% on clinical trial news

Oddball pharmaceutical player Revive Therapeutics (RVV.C) found itself on the back end of a warning by the BCSC this week, that certain German players in the smallcap promotion space had over-hyped the mushroom/cannabis/biotech deal and promised big wins inappropriately for anyone who invested. As a marketing partner of Revive, I got a few panicky texts from certain folks wondering if that meant trouble for us – or them. It’s not a problem for us; our coverage has been appropriately even-handed.

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iAnthus (IAN.C) defaults on debenture payments – but is that a weakness or a tactic?

Long time readers know, a year or two back, we wrote a lot about a US multi-state operator (MSO) in the cannabis dispensary space, iAnthus (IAN.C). We liked the company as it accelerated its dispensary acquisition program but stopped coverage in early 2019, with the shareprice in the $5 range, as it began to overpay for assets in a land grab with competitors we believed would ultimately have few winners. Today, iAnthus has put out some uncomfortable news announcing that, because it is involved in a lawsuit with creditors, it has chosen to default on debenture interest payments.

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