This Trade to Black podcast, Shadd Dales, lead financial writer Benjamin A. Smith, and Anthony Varrell get together to talk cannabis. Specifically, they’re looking at cannabis industry earnings. The MSOs are busy reporting their latest for the quarter, and we’re going to delve into the results of what’s available.
Last week we already touched on Curaleaf, and Trulieve and Verano are expected to have their earnings later on this week. MariMed is the most recent to release reported latest earnings. MariMed operates in multiple states and has partnerships with leading cannabis brands to offer high-quality products to consumers. They have some interesting highlights to note in their report.
In particular, MariMed’s gross margins have increased by 1% quarter over quarter, though their revenue is down 4%. Guidance has stayed the same, and they’re still projected to achieve $150m in revenue this year. Ben and Anthony give their thoughts on MariMed’s cannabis earnings, and whether this can be considered a win.
North of the border, there’s another company that has not been given much attention because of what’s been taking place in the states. Cronos Group Inc. is a Canadian-based diversified cannabis company who received a significant investment from tobacco giant Altria.
Cronos, too, has reported earnings, and while revenue has fallen 12% sequentially, they did outline that they are sitting on $836m in cash. Is it possible that this Canadian company could become a major player in the US market? Anthony and Benjamin have some thoughts, but of course, politics and trade agreements are a factor. SAFE Banking, which we just spoke with Rob Sechrist about in our last podcast, would play into it.
Speaking of banks, Canadian banks so far haven’t had the financial trouble that has plagued their American counterparts, but TD Bank is making financial news as currently the most shorted bank stock in the world. Why is this stock being shorted so much? We’ve got some theories.
Lastly, we touch upon AI and how it’s beginning to alter the world we know it. There’s a lot of mixed feelings and a lot of opportunities – but with change comes upheaval and dissatisfaction too. There’s also been some very big names who are predicting trouble. Listen to the full discussion on this episode of Trade to Black.
* In accordance with an executed agreement between The Dales Report and MariMed, The Dales Report is engaged with the aforementioned on a 12-month contract for $7,500 per month, with the purpose of publicly disseminating information pertaining to MariMed via The Dales Report’s media assets, encompassing its website, diverse social media platforms, and YouTube channel. Compensation for The Dales Report services involves the receipt of a predefined monetary consideration, which may, on certain occasions, encompass ordinary shares in instances where monetary compensation was not obtained. In such instances where share compensation was received, The Dales Report hereby asserts the right to engage in the acquisition or disposition of such shares subsequent to the conclusion of the aforementioned contractual period, in compliance with provincial, state, and federal securities regulations. Please refer to the “Disclosures” section below, which is to be interpreted in conjunction with this disclaimer.