Michigan CANNABIS TRENDS
In the month of April, Michigan recorded ~$251M in cannabis sales, which represents a sequential increase of 0.4% and a YoY increase of 28.6%. Unit volumes in the month were up 3.8% sequentially and up 67.7% YoY. The average price per unit was down 3.3% sequentially and down 23.4% YoY.
Cannabis Speaker Call W/ Mike Gorenstein
Cronos Group (CRON) is a Hedgeye Cannabis Best Idea Long.
EVENT DETAILS:
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Topics to be discussed & THE PATH FORWARD:
- Discussing Cronos's 1Q23 results and guidance.
- How Cronos is focused on cost reductions and cash flow positive in 2024.
- New products and market share trends in Canada.
- We believe that the US Cannabis market is broken and that Cronos is perfectly positioned to take advantage of legalization.
- Discussion around the cost of cultivation in different geographies (USA, CAN & ISR)
- How rare cannabinoids drive Cronos’s borderless branded strategy
- Discuss sum of parts
About Mike Gorenstein (CEO):
4front changes to the board
4Front (FFNTF) is a Hedgeye Cannabis Best Idea Long.
4Front announced yesterday that Amit Patel has stepped down as a director and the Chair of the Audit Committee of the Company, effective May 16, 2023.The decision was made by Mr. Patel to pursue new opportunities outside the organization. 4Front is currently considering candidates to fill the newly vacant board seat. Leo Gontmakher, Chief Executive Officer of 4Front, said: “On behalf of4Front’s board of directors and management team, I want to extend my sincere appreciation to Amitfor his valuable contributions to the Company and wish him all the best in his future endeavors.”
