EVENT TODAY
Aaron M. Edelheit the CEO and Founder of Mindset Capital
Today at 2 PM Eastern we will be hosting a call with Aaron M. Edelheit the CEO and Founder of Mindset Capital, a private investment firm. Aaron also was the Chief Strategy Officer of FLO Technologies, after being one of the first investors in the company, helping the company grow from a pre-revenue startup to raising $28 million and launching in over 500 Home Depot stores. FLO was acquired in January of 2020 by Fortune Brands.
With the MSOS down nearly 70% over the past year, the temperature for cannabis investing is as cold as we have seen since launching on the industry in early 2018. Industry growth is slowing, but that is true for many consumer sectors in 2022, but we are on the cust of seeing $8.0 of new markets open up in the next two years. We will talk to Arron about what he is seeing in the space, with a particular interest in what is happening in CA:
- What is his current take on Cannabis Investing?
- How long will the malaise last?
- What are management teams and politicians telling him?
- Will DC get over the hump and pass incremental legalization in 2022?
- The outlook for reform in California?
- What are milestones to watch for to see if California can right size is cannabis market?
Cannabis/Consumables Pro Subscribers CLICK HERE for event details (includes video and materials link)
ACREAGE/Mr. Moxey's
Acreage Holdings, Inc. today announced a licensing agreement with botanica, producer of Mr. Moxey’s THC and CBD products, to manufacture and distribute Mr. Moxey’s THC mints in Acreage’s operating markets as regulations allow. Press Release
SMG
Not going to be bottom-fishing SMG as the restructuring efforts in Hawthorne are not a one-quarter event.
Scotts Miracle-Gro (SMG) is at it lowest in nearly two years after cutting full-year sales guidance for its Hawthorne segment and leading to lower than expected FY 2022 adjusted earnings. CFO Cory Miller said the company now expects Hawthorne sales will decline 15%-25%, including the benefit of acquisitions, after several months of an oversupply of cannabis, which is leading to a slowdown in both indoor and outdoor cultivation. Scotts said the revised Hawthorne sales outlook means the company is unlikely to reach the low end of guidance for adjusted EPS, which it now expects will reach "at least" $8.00 for the year, below previous guidance of $8.50-$8.90. The company also said it no longer expects to make a significant acquisition in FY 2022.
