Cannabis Insight | U.S. Sales, Call Invite, CRON, CEO, Q&A

U.S. CANNABIS TRENDS

U.S. cannabis sales in April were down 1% on both a MoM and YoY basis. This is the first time in 6 months that we saw a YoY decrease. March is seasonally a very strong month, with April also being strong historically. This is only the second time in history, COVID being the other, that April had a negative MoM growth metric. April is normally very strong because of the industry's nonofficial holiday, 420. This year many reports indicated the inventories weren’t strong enough to have the same type of promotions as in previous years. Unit volumes sold were up 1.6% MoM in April and up 12.7% YoY. The industry continues to show strong signs of volume growth, but pricing remains an issue. March saw unit volumes grow 12.4% MoM and 15.4% YoY. ~90% of states in April reported a sequential decrease in pricing power. Florida was the only state to see positive pricing on both a sequential and YoY basis. 

Cannabis Speaker Call TODAY W/ Mike Gorenstein 

Cronos Group (CRON) is a Hedgeye Cannabis Best Idea Long. 

EVENT DETAILS: Date & Time: Friday, May 26th @ 11 AM ET. Webcast & Slides:  Cannabis Subscribers: CLICK HERE Consumables Pro Subscribers: CLICK HERE

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):

CONSUMABLES MONTHLY Q&A CALL

CALL DETAILS: Date & Time:  Wednesday, May 31st @ 12:30 PM ET.

WE WILL EXPLORE THE FOLLOWING TOPICS:

• Cannabis trends.
• Discuss the pushback and feedback from our recent Black Book calls.
• Share feedback on our outlook for 2023.
• Trends we are seeing in 2Q23.
• Discuss earnings.
• Discuss the most common and noteworthy inbounds we have received in the past month.
• Revisit changes to our Position Monitors.
• Provide updates on some of our best ideas.
• Discuss recent trend changes in consumer spending & inflation.

WE WILL ALSO TAKE LIVE QUESTIONS.

Send us your questions ahead of time to .