Florida Tracker
The state of Florida reported strong sales for the week of 4/30-5/7. THC sales were up 5%, and CBD sales were up 15% WoW. Trulieve added one dispensary to their prior count of 81 dispensaries. Both Trulieve and Surterra Wellness have gained market share in the past four weeks compared to the prior four weeks. Curaleaf, Fluent, and AltMed have lost market share.
Cannabis Earnings Week
US Cannabis stock, as measures by the MSOS, declined 2.39% last week while the MJ rose1.38%. We will be hosting a call on Sales trends in Canada on Wednesday at 10 am. The politics of Cannabis is hurting sentiment and not fundamentals, which we will get a better look at this week. A solid fundamental story will help the MSOS find a bottom. Our current bottom line on Legelazition is that Senator Schumer will not get a bill passed before the mid-terms, and we need to see a more incremental approach like the Safe Act for the stocks to reset significantly higher.
VFF - Monday BMO
CURLF - Monday AMC
ACRHF - Tuesday BMO
MMNFF - Tuesday AMC
GTBIF - Wednesday AMC
TCNNF, GRWG - Thursday BMO
ACB - Thursday AMC
Tilray Entry Into US Market
The CEO of TLRY is a roll-up artist and that what he is going to do with the company and he looks to the US. “We're coming into the U.S., even if it's not with THC or legalized cannabis. With cannabis, we'll continue to grow our business there,” said the CEO of Tilray in an interview with Cheddar News. Tilray currently owns Sweetwater, a beer brewing company in the US that will likely move into the CBD beverage industry. In addition to Sweetwater, the company is looking for more opportunities. The CEO said, “Time will tell which is the right one that we will partner with, whether we'll strategically do something with. And I think there's going to be the right opportunities for us when that happens”. Tilray could partner with one of the large alcohol company which has expressed interest in cannabis. These companies will already have the right distribution channels for any cannabis beverage that may hit the market. One thing is clear, Canadian LPs are frantically trying to enter the high growth US market, and M&A activity will be robust in the near future.
