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LOL- no need to throw stones at NK now... he is gone. Can't wait for those financials so we finally can see RESULTS.
Another 50K were purchased by MSOS today. At least Dan is propping up the price for us.
However, agree 100% with the pro's and con's. Getting rid of prior CEO was essential for any chance of success. IMO, personally Dye realized he wasn't getting the job done thus passing off the baton to someone he thought was more qualified. We need management who is well versed in all aspects of cannibus. Now to deal with management's arrogance of the employees behind the counters. IMO, that is problematic by the reviews posted.
Burification? Don't have the time nor the inclination.
As far as being on this board I've given my thought and opinion many times sometimes right and sometimes wrong.
Keeping it very clear and not going on a cryptic rant about my intelligence.
Even with Feb. sales for N.M. The total sales were up over 2% from prior month yet SHWZ was not. This is not encouraging.
Yet I hold hope the interim CEO can turn this prior disappointing data per store around. Something Dye or the recently departed CEO was unable to do.
Again to imply what you did could not be farther from the truth.
more useless " fluff " from team do nothing . https://www.marketwatch.com/story/cannabis-stocks-rise-after-president-biden-mentions-plant-in-state-of-the-union-speech-26ab8b53?mod=home-page
Some bifurcation in this company. Between StevenRisk and Crabman1...here are some thoughts on a Friday...Hence, previous complaints on sloppy messaging and direction: Focus? Observations:
Positives:
$MSOS has been steadily buying blocks of the company (50K yesterday included) and why it finished in the green for the day.
Interim CEO (indicative of experience and continued stability).
Hiring continues unabated.
No news is not bad news for now.
Negatives:
Company communications still on silent running (removed investor deck, no date for Q4/FY23 (10Q/!0K) no presentations, conferences nor media. Noteworthy USCC finally set up a page with NK as the Chairman only after he left Schwazze!
HR advertising for hiring multiple folks to piss away $500K+ a year on DEI, HR Relations, and Rewards is demonstrative of sustained stupidity --a broken functional area and in this instance needs a new Sr Leader ASAP as this situation demonstrates a contentedness to sustain and monetize racial, economic, and divisive turmoil vs what else could be worse, unionization which could cost less to contend with and not appear as grossly stupid? Examples...See video replay of NK wearing a hat sideways as what was a cool CEO talking to the company employees. Yes. That was stupid. Even perhaps insulting to many thinking persons...like, investors. Institutionalizing such a mentality as "sustainable" in a business is worse. Is this company interviewing clowns for a kids' party or what? One's best "game face" at work is what grownups do and what should be expected of all hires. Game theory re sustaining tribalism is what corporate idiots in Colorado must do? This has implications (real)! which are hurtful to the current investor watching funds go to social experimentation and not product, locations, nor effective executive leadership and actual qualified persons in a company while driving stakes into holders of this company's stock.
False profit you have me confused with someone else I have just joined and have only posted once and that was this week. But thanks for the input.
that's an excellent question man of 1 crab . here is an excellent question , you created a alternate identity 3 months ago to axe me that ? the answer to your question is this ........ create some more identities & return to axe more questions , ALSO , study the publicly traded cannabis sector spanning aalllllllllllll the way back to the year 2015 & try to realize which months of the year the cannabis sector thrives versus the months of the year it DOESN'T thrive . I'm looking forward to addressing the next " new " identity in which you will return in . GLTY !
Why do you say that? Just wondering what is going to hit.
Schwazze NM Cannabis Sales up to February 2024
— The Dank Informer (@TheDankInformer) March 5, 2024
February 2024
Medical: $1,099,019.40
Adult Use: $2,405,831.28
Total: $3,504,850.68
January 2024
Medical: $1,104,754.90
Adult Use: $2,381,121.15
Total: $3,485,876.05$SHWZ $MSOS #Cannabis #CannabisIndustry pic.twitter.com/IzJqCkqa8Y
wait until October for the opportunity to add more around .30 per share .
Thanks for posting Pablo Zuanic's report on the industry. Page 5 provides some insight into New Mexico Q4 2023 sales. NM state legislators really screwed dispensary business owners with unlimited licensing but if SHWZ's claims hold true, that would be pretty impressive.
New Mexico: 4Q sales of $144Mn, up 18% yoy and flat seq.
• Sales: The official sales data point to $144Mn in total sales for 4Q23 (74% rec, 26% med).
Rec sales only began in April 2022, and reached $107Mn in 4Q23 (+37% yoy). Med sales
sales of $37Mn were down 15% yoy. Total per cap spend (rec+med) of $288 is 2nd only to
Michigan.
• Stores: A total of 1,063 store licenses are active, and we understand close to 700 stores
have open. New Mexico’s average annual revenue per store of $823K is 2nd worse only to
OK. Operator Schwazze says the company stores do 2x the state average.
N.M. sales for Feb. we're $48 Mil. up from Jan. A 2.25% increase. Let's hope we get a little jump from the prior month. However, if past is any indication I wouldn't hold my breathe.
Pablos Zuanic's report on the industry...page 4...
Colorado $1.4Bn: 4Q23 sales down low-teens, but prices stabilizing.
• Sales: Official state $ sales data is out through Nov only; $ sales per day for Oct and Nov
are down 13% vs. the 3Q23 daily average (Headset points to a 10% seq drop), and down
15% vs. the 4Q22 average. After peaking during COVID, CO cannabis sales have been on
a downward trend (-21% in CY22, and -14% for the 12-months thru Nov’23).
• Stores: There are over 1,100 stores in the state (188 stores per 1mn people) compared
with 755 at the start of 2022. That translates into about $1.3Mn sales per store (among
the lowest in the US). We expect consolidation to play its course (there are no caps); in
the past CO operator Schwazze has targeted 100 stores.
https://zuanic.worldflowconnect.net/open/5110dbfe-f2a5-45c5-a38e-4d31c23eb63a/240123%204Q%20US%20Trends.pdf/5d720d66-180e-492a-9ed5-30858e27f9d8
the most phenomenal PR of the entire year ! prepare for federal legalization in november ! https://www.usatoday.com/story/news/politics/2024/02/28/mitch-mcconnell-stepping-down-republican-senate-minority-leader/72774828007/
Manipulation works both ways. Hmm, many more shares of $SHWZ to be acquired if historical purchasing of other companies is any indication? Some former holdings being replaced entirely it seems. Schwazze (700,000th reminder to self it sounds like Oz in "The Wizzard of Oz") has been compared favorably to other MSOs with similar favorable operating metrics perhaps seems a good fit.
Dan really stepped in during the final hour. MSOS ETF acquired 50,000 more shares today. Prior to that it was looking pretty dismal.
This is my favorite quote from the article. The U.S. not only has South American cartels setting up illegal cannabis farms, but the Chinees and Russian mobs are are also involved. The Feds need to make sure there is a guaranteed, appropriate & dedicated amount of the Federal tax on cannabis applied to law enforcement for the explicit purpose of shutting down all illegal grow facilities.
“It is absolutely critical for law enforcement to have clear federal laws and not a patchwork approach to cannabis policy,” Ronal Serpas, a former New Orleans and Nashville police chief and executive director of LEL, told Marijuana Moment. “Rescheduling is an important first step to helping local, state and federal law enforcement collaborate effectively against real threats to public safety such as violent crime and the dangers presented by an unregulated and illicit cannabis market.”
https://www.marijuanamoment.net/biden-pushed-to-reschedule-marijuana-by-veterans-and-law-enforcement-groups-including-one-that-has-dea-head-as-a-member/
Terrific article, thanks for posting this.
I like seeing these breadcrumbs that continue to be dropped.
https://www.marijuanamoment.net/biden-pushed-to-reschedule-marijuana-by-veterans-and-law-enforcement-groups-including-one-that-has-dea-head-as-a-member/
I agree, at some point the SHWZ needs to figure out how to get the name Medicine Man Technologies put to rest. If even institutional investors are confused, imagine what the average retail investor thinks?
I like Schwazze ok as a corporate name with the $SHWZ symbol, but I'd like to see the entire company name changed to Schwazze instead of the Medicine Man, because I agree, it is confusing to folks looking for Medicine Man as an investment...
Good post. I'm sure Nirup is a good guy, but he just didn't seem to be a leader. You described him well.
Thank you for sharing your thoughts. Great Post.
This may seem trivial, but one other thing I would like to see changed, is I wish they would follow the example of Columbia Care changing their company name to The Cannabist, and do something about their confusing naming conventions. Their corporate name is Medicine Man Technologies (which potential investors often confuse with MedMen, and then their DBA name is Schwazze. Even Dan Ahrens (the Fund Manager at MSOS ETF doesn't know how to pronounce it. I listened to him say
I won't dog Nirup as I think he was a decent guy and I had no reservations about the appointment when JD made the announcement. However, in hindsight, he was not fit for the role and never could really connect as a dynamic leader. Remember those videos of Nirup that were produced to promote the company and boost company moral, they were horrible in my opinion and Mr. Krishnamurthy never seemed to be comfortable in the role as the captain of the ship. In reviewing his bio, Nirup held some high level C-Suite positions, but never attained CEO until his role at SHWZ.
As some have pointed out, Nirup presided as CEO over the organization when profitability and a regression in share value occurred. People should not discount the perfect storm that swept the cannabis industry as a whole. For over three years the cannabis industry has been in a downturn, effecting most if not all businesses associated with cannabis. In early 2021 venture capital money began to dry up, retail investors lost confidence with sagging share prices, as COVID waned, inflation creeped in, sales slumped as discretionary money dried up with higher prices for gas, groceries, etc., & oversupply exploded, further eroding wholesale prices. Couple these events with New Mexico opening unlimited dispensary licensing, no aggressive enforcement of illegal production & distribution and the US Congress dithering and lying about cannabis reform for years.
Nirup may have been an uninspiring CEO, but he was not responsible for the sales and SP slide for SHWZ, the aforementioned reasons were the major drivers for the entire industry. I wish Mr. Krishnamurthy the best as he moves on to what I hope will be a soft landing with an organization that more fits his style. As for JD, you've done a great job overall, just take some time and evaluate the next candidate more carefully. If Ms. Vrabeck is that person, put her through the paces and make sure she matches your drive and that Midwestern work ethic.
If Ms. Vrabek remains as a board member assigned to the audit committee, her current responsibilities should not interfere with her roles at SHWZ. BOD meeting are usually scheduled quarterly and set a year in advance. It is easy to plan out attendance to each boards assigned dates for service. In post COVID business, many boards will offer virtual attendance, so this makes wearing multiple hats all the more doable.
Was Ms. Vrabek brought on board to eventually replace Nirup Krishnamurthy? She certainly has the experience to be considered for this role. However, if that were the plan, the deal would more than likely require she shed most of those other activities.
Great points IPS, as someone who has had to make hiring decisions for many years, it's never 100% that the person you pick from applicants will be the right fit for the job. I've been fooled more that once by people that are "interview specialists", and say the right things, and got the job. Usually within 90 days, I could see they were not the right fit, and a couple I had to let go. It's really hard as a manager to admit you made a mistake hiring someone, and even harder to let them go, but to let the wrong person remain in a critical position will make your job much harder in the long run. Glad to see Schwazze making the needed changes - and hopefully they will be for the better. Most companies have these "growing pains" as they become established, and how they deal with them is indicative of how they will likely prosper or falter in the long run.
With all due respect Future2016, you said - "Usually the company announces “bad news” after hours and/or on Fridays…" Since today is Friday, I took your statement to mean that you were implying that the NEWS today is bad news... carry on...
No, we don't know that at all - Probably be about break even again, which is GREAT in this business and legal environment.
As we all know q4 is going to suck. We have more than doubled our stores in N.M. actually almost tripled them. Yet our sales is currently less than the original 12. Yes the dispensaries in totality have went from 600 to 1050 but the math with the man at the helm is putrid. Why?
I believe what happened had to happen as no other mso has tripled the dispensaries count in any given state to this degree. Their is a reason for this precipitous drop in sales and until they find someone at the helm who can fix this. You lead from the top and if you can do this with happy employees and satisfied customers this will never happen.
Agree, Doc.
On another related corporate topic...I'm hopeful the DEI nonsense also finds it's way gone with his departure--as in a to the bone purge. There was a problem in some of the last HR type positions they were advertising...one a $100K+ a year DEI manager and yet another HR Rep to smooth over employee relations (presumably from the former). Frick and Frack? One creates problems and the other attempts to solve? Paid division. Lacks leadership, messaging and focus. In sum, that bizarre culture is an eff'n distraction. Sr. Leadership/HR allowed this or created it. This is/hopefully was a needed fix imo.
My point is the timing of the release by the company shows that the company does not view it as bad news.
Totally agree success is so often directly associated with the cfo. You will see times where a new cfo is hired and the stock climbs immediately. This could be the reason for volume increase and price. A ceo with with extensive cfo experience. I hope this becomes permanent and not just in the interim. Might have to start buying a few shares. This is a positive.
I don't see this as bad NEWS, I never thought Nirup was the kind of leader Dye is. Nice to see Dye still in the background, and of course, we know he controls most of the shares anyway.
Usually the company announces “bad news” after hours and/or on Fridays…
You think Nirup had a green thumb?
Dont know the guy...but based on prior position/title...I dont like it. Other CFO's have taken CEO roles in cannabis companies...and if history has proven anything...they are just not cut out for the job. I guess we will find out if this bean counter has a green thumb.
Nirup's out, Forrest is in... Interesting that this happens right before financials for the year are released. However, the fact that the CFO is taking interim CEO duties, is encouraging... Got my beer and popcorn...
With a resume so long and currently so engaged in so many companies how can one effectively have the time and resources? It's like there is 24 hrs a day.. There is numerous ongoing responsibilities which would really take away the focus at any obligation. Any one besides me ask themselves that?
Today announced that Forrest Hoffmaster, the Company's Chief Financial Officer, has been appointed to the additional role of interim Chief Executive Officer ("CEO"). This follows Nirup Krishnamurthy's resignation as CEO and as a member of the Board of Directors ("Board"), effective February 20, 2024, due to personal reasons.
https://www.prnewswire.co.uk/news-releases/schwazze-appoints-forrest-hoffmaster-as-interim-chief-executive-officer-302069402.html
Kathy Vrabek replaced Jeff Garwood, who is a longtime associate of JD's as a consultant for Dye Capital. I think Dye see's a lot of upside value in Ms. Vrabeck, with much leadership experience and I am sure some skills that could help propel SHWZ into the next phase. I think something good is cooking behind the curtain.
https://www.marketscreener.com/insider/JEFF-GARWOOD-A088SS/
https://www.marketscreener.com/quote/stock/MEDICINE-MAN-TECHNOLOGIES-120795967/news/Medicine-Man-Technologies-Inc-Resignation-of-Jeffrey-Garwood-from-Member-of-Board-of-Directors-45300828/
Kathy P. Vrabeck has been appointed as Executive Chairman of the Board of the Company effective 6/2020. She is a Senior Client Partner in the Los Angeles office of Korn Ferry International, a global talent and organizational advisory firm, where she is a member of Korn Ferry's Digital Practice, working closely with consumer and technology clients. Prior to joining Korn Ferry in October 2015, she was a Partner at Heidrick & Struggles International, Inc., an executive search firm ("Heidrick & Struggles"), where she served as both Global Sector Leader of their Media, Entertainment and Digital practice and partner-in-charge of the Los Angeles office. Prior to joining Heidrick & Struggles in July 2011, Ms. Vrabeck was with Legendary Entertainment, a media company, from March 2009 to March 2011 where she served as President, Legendary Digital and was responsible for the creation, management and delivery of digital entertainment, with a focus on video games, across current and next-generation platforms. From May 2007 to November 2008, Ms. Vrabeck was with Electronic Arts, Inc., a developer, marketer, publisher and distributor of video games ("EA"), where she served as President, EA Casual Entertainment and led EA's efforts in the fastest growing segments of the video game market: mobile, online, social networking and global media sales. Prior to joining EA, Ms. Vrabeck was with Activision, Inc., a video game publisher ("Activision"), from August 1999 to April 2006 where she served as President, Activision Publishing, overseeing Activision's product development and global brand management and publishing operations. Earlier in her career, Ms. Vrabeck held various marketing, sales and finance positions with ConAgra, The Pillsbury Company, Quaker Oats and Eli Lilly and Company. Ms. Vrabeck currently serves on the DePauw University Board of Trustees.
Since she was appointed we have done well so I am not complaining. I wonder why so much silence and lack of communication for so long? Something must definitely be cooking behind the curtains.
She seems to have plenty of C Suite experience and now represents the only woman on the board. JD is also a DePauw University alum as is Todd Williams.
https://ir.schwazze.com/governance/our-board
Kathy Vrabeck has extensive Board experience and currently serves as Chair of the Board of Directors of MediaAlpha (NYSE: MAX) and Immediate Past Chair of the Board of Trustees of DePauw University. Ms. Vrabeck is presently COO of BODi (formerly The Beachbody Company), where she is responsible for the Digital Product, Consumer and Enterprise Technology, global Supply Chain, Customer Service, R&D, Security, People and Property Management. Ms. Vrabeck has over two decades of general management experience in consumer package goods and digital entertainment, and a decade of talent acquisition and advisory expertise. She has held leadership roles at Korn Ferry, Legendary Entertainment, Electronic Arts, Inc., and Activision, Inc. Ms. Vrabeck holds an MBA from the Indiana University Kelley School of Business and a BA in French and Economics from DePauw University.
Why was Kathy Vrabeck appointed the board of directors?
https://www.marketscreener.com/insider/KATHY-VRABECK-A00DN9/
Thanks IPS - I definitely think we will see SHWZ at 1%, love the optimism of perhaps 3%. The amount of volume required for SHWZ to get there alone can push this stock up to $3 - $4 and I'd say that's a conservative guess with the number of shares available.
The ETFs holding and continuing to buy SHWZ is of course helpful. I too suspect a climb into better than a full percent at $MSOS and suspect it may settle closer to 3% based on what I've seen cast to the wayside at MJUS. There are obviously a bunch of broken noses as a result of this churn, but I think SHWZ is on the right side of it after MJUS destroyed the stock back in '22? The big question remains...why? Find that and we have a guide lamp.
Any thoughts on starbuds.us now at 4 each in MS and OK (up and down)? Leveling out on the Southern route? Nope. But I can foresee not overpaying to extend into a third State as a good thing per what is a longer Texas wall we've been eyeing for a couple of years. Saturation (again) should be the next phase following a brief consolidation should the inflows be there to support it. Exciting times ahead.
Meanwhile, Florida looks to rip at any moment on an increased possibility of rec going forward.
Another way to look at the fund buying is who among their higher percentage holdings have the funds grown disenchanted with? Say that stock is 1% of the funds holdings at the start of the year (and other funds view the stock in the same way - no longer worth a larger % of their fund). That rebalancing to SHWZ could go on for some time as they try to hit the other stock's prior percentage of 1% of the fund - so continued purchases over time to get there, consistently driving the stock up. I haven't taken the time yet to see which of the cannabis stocks are declining in terms of percentage holdings this year in the funds, but if I did, that might indicate when the buying stops for a stock like SHWZ. Say Planet 13 were 1.4% of a fund at the start of the year, this year the fund soured on it, started selling it, and buying SHWZ to get SHWZ closer to Planet 13's former holding of 1.4%. Knowing which stocks are out of favor and being sold and what % was held at the start of the year could be the best way of seeing where this fund buying could end, and based on the volume to get there, what that could mean for the stock price based upon the rise we've seen so far, and extrapolate that out. Maybe too much math for my fuzzy brain, but I'm wondering if that's a potential scenario to calculate among the more elite traders here?
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Meet the "Steve Jobs of Cannabis" and Schwazze's Chief Cultivation Officer, Josh Haupt:
https://www.youtube.com/watch?v=s36OIBT4XiQ&t=1s
Star Buds is one of the Most Recognized and Successful Retail Cannabis Operators in North America
Company Projects Pro Forma Revenue for Schwazze and its Two Acquisitions (Mesa Organics and Star Buds) of $95 Million in 2020
Company Expects to Be Cash Flow Positive Beginning in January 2021
Company Anticipates Acquiring Remaining Seven Star Buds Retail Dispensaries in Colorado during the First Quarter 2021
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