Illinois adult-use cannabis sales lifted 7% sequentially to $135.7 million, up 6.% from a year earlier. Hifyre July data predicts that the month will be a record for sales in Canada, up 7% sequentially from June.
I distributed this written material to 420 Investor subscribers during the week:
Here are some of this week's highlights for Focus List names:
- AYRWF introduced its LIT cannabis brand (premium flower) in Massachusetts.
- CCHWF introduced a cannabis loyalty mobile app in 14 markets.
- CGC named a former Aphria veteran as new Chief Legal Officer. It generated C$110.1 million revenue in fiscal Q1, but it had a massive loss due to a write-down.
- GDNSF launched cannabis-infused gummies in Minnesota.
- GNLN will conduct a 1-20 reverse-split on 8/9 to retain its NASDAQ listing.
- GRWG reported a weaker-than-expected Q2, with revenue down 44% from a year ago to $71.1 million despite the M&A it has closed since then.
- GTBIF reported a solid quarter ahead of expectations with revenue increasing 5% sequentially to $254.3 million in Q2.
- HYFM pre-announced Q2 substantially lower than what was expected and reduced its outlook for 2022.
- IIPR reported Q2 revenue at a record of $70.5 million, up 44%. AFFO per share was up $2.14, up 30%.
- PLNHF announced a purchase option for an Illinois dispensary for the 51% owned by Frank Cowan.
- SMG experienced a weak fiscal Q3 for revenue and updated its FY22 outlook for EPS of $4.00-4.20.
- TCNNF opened a Trulieve dispensary in Arizona, its first there. It also opened another in Florida.
- TLRY named Southern Glazer's as its CBD beverage distributor in the U.S. It also announced a deal with the ...