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25 days ago I posted the following:
“IMO From a technical analysis basis ALL MSO stocks are in BUY status”
As of Friday’s (8/5/22) close the entire MSO group is again in BUY status.
I think that a solid short term bottom is in. The stocks are reacting positively to the news from the Feds, good news from GTBIF, bad news in a couple of cases has not cratered the group, e.g. GRWG bad earnings.
announcement, even VRNOF it’s “restatement” is on the mend. I think the longs can breath a small sigh of relief as the selling pressure seems to be abating. The upcoming earning reports I think will be well received.
TCNNF N/C, CURLF N/C, GTBIF +200k, CRLBF N/C, VRNOF +200k,
TRSSF N/C, CCHWF N/C, GRWG -242k, AYRWF +100k & JUSHF +250k
Here’s the link to NCV’s Revenue and Income Tracker:
https://www.newcannabisventures.com/cannabis-company-revenue-ranking/
Today NCV published a preliminary view of what they think the August reporting season will look like, Here’s a portion that relates to selected MSOs
“Looking ahead to August, there will be a lot of financial reports. The largest companies by revenue expected to report include Trulieve (OTC: TCNNF) (CSE: TRUL), Curaleaf (OTC: CURLF) (CSE: CURA), Green Thumb Industries (OTC: GTBIF) (CSE: GTII), Cresco Labs (OTC: CRLBF) (CSE: CL), Scotts Miracle-Gro (NYSE: SMG) and Verano Holdings (OTC: VRNOF) (CSE: VRNO). Each of these companies cleared a minimum of $200 million revenue in Q1.
According to Sentieo, analysts expect Trulieve, which hasn’t announced an exact date yet, to post revenue of $324 million, up 50% from the prior year, with help from the recent acquisition of Harvest Health and Recreation from last October. Adjusted EBITDA is expected to increase 13% to $108 million. Curaleaf, which reports on the 8th, is expected to generate revenue of $337 million, up 8% from a year ago, with adjusted EBITDA flat at $85 million. GTI is expected to post revenue of $249 million, up 12%, when they report on the 3rd. Adjusted EBITDA is projected to fall 6% to $74 million.
Cresco Labs is expected to have generated revenue growth of 4% to $219 million, with adjusted EBITDA forecast by the analysts to grow by 14% to $52 million. Scotts Miracle-Gro overall revenue is projected to have dropped 24% during its fiscal Q3 to $1.23 billion, with adjusted EBITDA shrinking 50% to $179 million. The company will report on the 3rd. Verano, which announced that it is restating its prior financials, is expected to grow revenue by 10% from a year ago to $220 million. Adjusted EBITDA is expected to more than triple to $83 million. The company has a call scheduled for the 16th.
https://www.marijuanamoment.net/senate-bill-to-federally-legalize-marijuana-and-promote-social-equity-finally-filed-by-schumer-booker-and-wyden/
TCNNF +150k, CURLF +400k, GTBIF +300k, CRLBF 200k, VRNOF +200k,
TRSSF +200k, CCHWF 200k, GRWG -5k, AYRWF & JUSHF N/C