Respect where it's due, I haven't been to an investor conference in a long time where I came away interested in most of what I saw, let alone *everything* I saw, but this year's Gravitas Securities Growth Conference lineup absolutely hit it out of the park. The GSGC isn't the biggest show around, but they know how to turn out the playahs, and the only way you keep big money showing up is to be a little bit picky with what you offer them. Don't waste anyone's time and they'll know it's cool to return.
Ontario-based Supreme Cannabis (FIRE.T) released its Q2 2020 financials today and there were few surprises contained in its pages, bar perhaps the size of the quarterly loss. At a $17.3 million net loss after taxes (and a $10.4 million loss in adjusted EBITDA terms), FIRE shares fell in value below the $0.40 mark it's been hovering around for some time, a 5% drop in real terms. Previous quarters had seen smaller losses, even come close to break even. But even the rosiest-eyed fanboy would have expected these numbers to be rough, considering the CEO change and staff layoffs announced earlier in the year. We predicted as much a week ago.
You hate to see it, but such is life in the mining game; little Hawkeye Gold and Diamond (HAWK.V), which may be a misnomer because it doesn’t appear they have much gold or diamond at hand, announced today their latest drill results will be a little late.
From the day it landed on the stock market, MedMen (MMEN.C) was a company that drew derision and ire based almost entirely on the decision of its founders to lather themselves in hefty bonuses, hoard most of the voting shares, offer themselves enriching golden parachutes, and put themselves above the shareholders and the long term success of the business.
Last night, Vancouver’s tech elite were crowded into the Waterfall Building, off Granville Island, enjoying cocktails, tasty vittles and, most importantly, tours of AMPD Ventures’ (AMPD.C) new DC1 high performance computing data centre.
When a cannabis company loses a lot of money every quarter, and has to sell real estate, cancel acquisitions, lay off staff, renegotiate existing financing to higher interest rates and offer stock to new financiers at a discount to the market price, all to stay afloat, one might expect their newsflow to show bold new moves, innovation, maybe some hard austerity decisions.
Like the old Twilight Zone episode where helpful aliens leave behind a book called 'To Serve Man', only for us to find out later it's a cookbook, investors have been welcomed and fattened up nicely by alpha predators as they unwittingly await their slaughter, not realizing that, they're at the predator's table because they're the main course.
“Americans spend more on prescription drugs than anyone else in the world,” states Bloomberg, “It’s true that they take a lot of pills. But what really sets the U.S. apart from most other countries is high prices.”
Dionymed (DYME.C) gives investors a checklist for disaster, and Invictus (GENE.V) is ticking a lot of boxes
Dionymed Brands (DYME.C) is – sorry, was – the low hanging fruit of the cannabis bubble burst. It was always a goner for anyone who looked hard enough, but in a market where aspiration was rewarded more than perspiration, Dionymed sent out all the right news releases to keep the joke going longer than it should.
The partnership between Emerald Health (EMH.V) and Village Farms (VFF.V) was never going to be smooth sailing, glittery rainbows, and under-taint kisses until the end of time. Let’s face it, brothers will always fight, especially when money is involved. However, a betting man might have thought the partnership between these two would make it through two Thanksgivings intact, especially as their ensuing brand of cannabis tops the sales charts.
Beleaguered Canadian cannabis company Beleave (BE.C) just posted financials after the close of trading on a Friday, which is, as we well know, ‘Friday news dump’ time.
AMPD Ventures (AMPD.C) CEO Anthony Brown told a reporter yesterday he was looking to raise money for acquisitions and growth, with a $2 million raise announced a few days ago. Nothing weird about that. What was maybe a little weird was the flex Brown was pulling in the announcing of that financing.