A Look at C21 Investments Q2 Financials
Last night C21 Investments (CSE: CXXI) released their second quarter earnings. They showed a 28.6% increase in top line revenue, largely driven by growth in Nevada where they increased revenue by 17% and the addition of Swell Companies. The company posted a positive operating cash flow of $1.7M and a net loss of $3.4M for […]
Curaleaf Receives 5 Adult-Use License Approvals in Home State
Curaleaf Holdings (CSE: CURA) announced this afternoon that it has received approval for five adult use licenses in its home state of Massachusetts. Three of the licenses are final licenses, while two are considered provisional. Of the five licenses granted in total, three are for the co-location of adult-use activities at currently licensed medical properties. […]
Senator Crapo Wants to Hold Cannabis Banking Reform Vote
Today POLITICO is reporting, Senate Banking Chairman Mike Crapo wants to hold a vote on legislation to enable banks to serve cannabis-related businesses. In the report, they state Senator Crapo is willing to work with either the current bills being proposed or possibly write a new one. We’re working to try to get a bill […]
Cowen & Company Initiates Coverage on Multiple MSO’s, Gives Medmen $1.50 Price Target
Industry analysts Cowen and Company initiated coverage on several US multiple state operators this morning, putting out a 170 page report on the matter. In particular, the equity research firm initiated coverage on five US focused firms, which include Curaleaf Holdings (CSE: CURA), Green Thumb Industries (CSE: GTII), Cresco Labs (CSE: CL), Acreage Holdings (CSE: […]
PI Financial Lowers Price Target on Aurora Cannabis
Aurora Cannabis (TSX: ACB) (NYSE: ACB) saw PI Financial lower its price target today after the firm put out earnings with gross revenues of $271 million yesterday after hours. While maintaining a buy rating on the equity, PI Financial dropped its price target from $15.00 to $12.00. The report contained a number of key items […]
US Cannabis, Momentum, With Lots of Hurdles
The US Cannabis market has been a confusing ride for investors to comprehend. We have a huge market, that isn’t quite legal and isn’t quite illegal. There are banking issues, single state issues, anti-trust issues, capital raising issues, tax issues, black market issues, international trade issues, the list goes on. The market is more than […]
Wayland Group Subject of Potential Securities Class Action – And It Just Might Have Teeth
Wayland Group (CSE: WAYL) announced after the bell Wednesday that it had been made aware of a statement of claim being filed against the firm in a proposed securities class proceeding. However, the issuer provided little detail beyond this information, aside from stating that it intended to defend the claim vigorously. The claim, as reported […]
Heritage Cannabis Secures Export Permit and Biomass for the Caribbean
Heritage Cannabis Holdings Corp (CSE: CANN) announced it had secured a hemp processing agreement, with the resulting product to be destined for export. Heritage’s subsidiary Voyage Cannabis will purchase hemp biomass from Nova Scotia-based Truro Cannabis, and will then process it into crude oil. Upon completion of extraction and processing, Voyage will sell the product […]
Valens GroWorks Enters Contract With Beverage Alcohol Firm Iconic Brewing
Valens GroWorks (TSXV: VGW) announced this morning that it is one of the first extraction firms to sign a white label, cannabis infused beverage contract with a traditional alcohol beverage client. Valens will provide the required extracts, formulations, and infusion technology for the infused beverages, while the client, Iconic Brewing Co, will brand and market […]
Aurora Cannabis Posts Annual Gross Revenues of $271 Million
Aurora Cannabis (TSX: ACB) (NYSE: ACB) posted its fourth quarter financials after the bell today, recognizing $98.94 million in net revenue, $94.64 million of which is attributable to the sale of cannabis. Total revenues saw a 52% increase over the prior quarter. On a per gram basis, Aurora’s cost of production fell 20% to $1.14 […]