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Not picking sides, but I do find it hilarious that Democrats, who are the ones that like to use cannabis as one of their major political platforms, had a straight path to getting something done...having control of the House, the Senate and the White House and still couldnt accomplish anything because they over complicate matters. The Republicans, and their announcement today, are timing this right to steal that political platform right out from under them.
Just a reminder not to set a stop loss.
Wow! I did not see that coming. Good find.
I know it is a red tape issue. Banks are FDIC insured so they could potentially lose their status if they dont follow federal govt regulations...that being cannabis is still listed as a Schedule 1 substance.
Bank Of America pressed this a few weeks ago when they shut down the account of Scottsdale Research Institute, a research institute that’s federally authorized to cultivate and study Schedule 1, with the notice that the action is "final and won’t be reconsidered."
Sounds more to be like JP Morgan sees the cash flow of this industry, and is sick of sitting on the sidelines, so they are trying to use their leverage to get the federal govt to make a decision.
I thoroughly enjoyed that interview...and especially his response to federal legalization. Talk about speaking with conviction!
Add in that this upcoming November, 6 Colorado towns will be voting to approve/ban retail. Could also be focusing on being first to market in those new locations (specifically Golden and Westminster surround the Denver area).
Stem Holdings just entered Colorado picking up some previous MDCL term sheet busts -- High Country Supply: 2 delivery permits, 3 dispensaries and 2 cultivation facilities.
https://www.globenewswire.com/news-release/2021/10/26/2320602/0/en/Driven-By-Stem-to-Enter-Colorado-with-Signing-of-LOI-to-Acquire-Vertically-Integrated-Cannabis-Operator-Colorado-Harvest-Company.html
I agree, but I expect him to hold out for an actual fish and not the carp currently considered 'the top' of the industry.
Hoop, I disagree with you. Asking a CEO about his exit strategy is a valid question. Sure we know that he and his friends have invested a significant amount of money into the company, but we also know that in his prior work once the growth completes he has moved on. The question allows him multiple avenues to traverse, with the main intention...how committed is he to the company and whether or not it agrees with ones own investment belief. In Dye's case it is obvious that he doesnt see his work in SHWZ being anywhere near complete...meaning the continuous speculations about SHWZ being a possible acquisition target probably just that, speculation. I would think a more annoying question, that keeps getting brought up over and over...and one that I would prefer people drop...is the question on when the company will become an MSO. Dye has been very clear in his focus on Colorado.
lazur, in his recent YouTube video, D.H Taylor talked about the top 10 most profitable cannabis companies. SHWZ was not on the list but he mentioned the company twice during the video including at the very end where he essentially restated the comments posted on the forum link you provided...but indicates he thinks Trulieve should be the company to target SHWZ. I personally dont think Dye is interested in being consolidated by another cannabis company, especially any operator known for not treating employees fairly, but I also dont see him being the type to want to run the company 5 or 10 years in the future. Dye has always given off more of a builder mentality so I am curious as to what his ultimate endgame/strategy is. Is it to take the company to the top of the list and then exit? Is it to be acquired by (a perceived) larger fish? Or is it to grow the company within its means, establish best business practices and work toward a larger CPG acquisition when the landscape changes? I continue to believe it's the last option.
Six Colorado Towns Could Legalize Pot Sales https://www.westword.com/marijuana/colorado-election-2021-marijuana-ballot-questions-12540192
I probably just need to accept that this industry has me confused instead of constantly trying to make sense of things.
Anyone else wondering if the movement that the industry is seeing today is actually starting buybacks from early tax loss selling? I know when I commented before DrugDoctor joked stating that maybe he should sell now and buy back before the end of the year. Maybe that is exactly what some did? Maybe Dec and Jan wont be as bad as I initially thought. Maybe since they knew that nothing political would happen between summer and fall, tax loss selling was taken early and we are starting to see money flow back in from people not wanting to miss out if life is breathed back into the industry in early 2022?
InPlainSight, that is coming up this week at the Jage Media MJ Unpacked conference Oct 21 and 22.
In addition to his excitement of upcoming M&A, I appreciated two of his comments within one of the questions, regarding the final goal of the company...that sounded as if it was asked by Nancy...which will probably be overlooked by most investors, but are on point when listening to podcasts and certain areas of disdain in the industry. I liked when he stated that, in addition to growing a really great company, he wants to grow his team, and the individuals around him so that they have great opportunities. Also within that response, his recognition of 'only so much capital' and the focus on driving execution....as in the company's continued focus of being good (investor focused) stewards of capital.
It wasnt me...but I managed to become part of the dip. I got sick of waiting for a dip and glad I moved up when I did.
Yeah I hope so too. This is me believing it into existence.
I have been watching to get a feel for when I think Columbia Care will close. I found it too much of a coincidence that the final week of Sept the stock took a hit...and just as we started to think that the big seller had moved on (on Friday)...that following Monday Curaleaf announced that they closed on Los Suenos Farms. I just feel that there might be one more quick dip between now and when JD presents at the Benzinga Conference.
I have been having a hard time reading OTCX and VERT today. OTCX was sitting high on the ask and low on the bid. VERT was on the ask and sitting in the 'in case it dips range' on the bid. Now they are the top two on both sides of the equation. The read I get...which is probably totally wrong...is like they have a big seller who needs out but that someone doesnt want out for lower than a set amount. So they are locking down both sides...and letting people play ball in between. They dont hesitate to move up when the buying starts but will trickle back down (to 1.92...now 1.93) to get the buying moving again. What irritates me is that I cant see the full amount on an ask, just 100...and the flip side...I wonder if the 11,800 on the bid is a false wall.
He is presenting on the Blue Track at 10:30am. I believe this is the Benzinga YouTube livestream:
IMO today's activity gets a pass because it was Columbus Day in the US and Thanksgiving in Canada. I am bullish for the end of this week but need to see tomorrow build off of today and not regress.
AFP, I think if I took anything away from the below podcast it is that Schumer realizes that his CAOA bill is not going to get the votes. His goal is for any cannabis bill to include social reform. He has to act tough in order to play the game, and get his way...and is in the seat to either allow something to get voted on or not. In the interview he states that he and others are determined to get their comprehensive bill passed...but later in the interview he shows his cards. He essentially stated that if SAFE Banking could be amended to include social justice aspects he would be willing to compromise. He is playing both sides, and I believe that he is trying to get something done before midterm elections. What I dont know is whether or not SAFE, as part of the NDAA, can be amended to include these types of changes...or if something new will have to be introduced. I posted that tweet because at least it is part of the current conversation at the table and not completely swept under the rug.
https://www.iheart.com/podcast/1119-psychoactive-84544756/episode/13-senate-majority-leader-chuck-87485707/
Thought this was interesting:
Todd Harrison Retweeted
Pete Landrum @PeteLandrum
10h
Good discussions with Senate staff this week on SAFE Banking Act and CAOA. Broad understanding that without banking services, business deductions, and reasonable capital availability small businesses will have a hard time. Senate NDAA is looking like a Nov play now.
OTCX was on the bid a lot of the day (upper 1.70s) until the stock hit $1.90 then he dropped back to $1.58. VERT was very active, as well, on both sides of the coin.
DD, I tried to find a link to join, because there are several other US companies presenting at this conference, and their information is just as vague. Then you go to the AGP site...and if you are not registered...this is the best you get:
For more information, please reach out to your registered A.G.P. representative or AGPEVENTS@ALLIANCEG.COM
That would depend on what you are holding. I can definitely think of 2 that should be dropped, now instead of later...and a list of others that I think will have a bad December. No where on that list is SHWZ...but I have tempered my expectation figuring the negative sentiment will cascade to all in the sector. Truly depends on your industry outlook for 2020. I dont see anything happening because I fully believe that Schumer will sit on anything not his cannabis bill. Remember SAFE has passed the House to die in the Senate 4 other times...one of those was with Schumer as the majority leader. He is fixated on a comprehensive bill mainly focused on social reform.
IMO, without any real US political news to move the industry, the industry (as a whole) is looking more like it will be the sector that absorbs the brunt of end of year tax loss selling.
As an FYI, Curaleaf just completed its acquisition of Los Suenos Farms today. The acquisition was announced back in mid-May...and took roughly 4.5 months to close.
Interview with Chuck Schumer. The interview starts midway through the podcast:
https://www.iheart.com/podcast/1119-psychoactive-84544756/episode/13-senate-majority-leader-chuck-87485707/?embed=true
It absolutely should have tanked the industry today...but this sector never seems to act the way I anticipate it to. The company recently closed a facility and cut 8% of it's workforce. This is the 6th facility since June 2020...and I am not even sure how many employees have lost their jobs. Up until todays earnings the company has written off over $4.1B in 'goodwill', since 2018....yet somehow people keep buying shares. UFBelievable!
Several in there said she didnt appear intoxicated. She was asked about it, under oath, and answered honestly. Plus, it's legal in the state. I wonder if the judge would have had the same reaction had he asked her if she had an alcoholic beverage that morning, or the night before? Anyway, these issues are a reminder, that even though almost 70% of the public is in favor of cannabis...and cannabis has made significant strides forward as more states turn adult use...it still displays just how polarizing an issue it is. These things cause me to be cautiously optimistic when it comes to (US federal) cannabis...to the point most probably assume I am a skeptic.
You think that is BS? Add this to the list:
https://www.virginiamercury.com/2021/09/17/virginia-judge-jails-alleged-domestic-violence-victim-for-smoking-pot-on-day-of-court-testimony/
Marijuana is legal in Virginia...but...
The woman, who prosecutors say did not appear intoxicated, served two days in jail before she was released on $1,000 bond, according to court records. Meanwhile, the case against her alleged abuser, who was facing his third domestic violence charge, ended with Fisher declaring a mistrial.
So this is the 5th time the House has passed the SAFE banking Act, The previous 4 times the bill was squashed by the Senate Majority Leader: 3x by Mitch and 1 by Schumer. Will the 5th time be the lucky charm or will it be removed by the negotiation process? As for uplist, from what I understand, nothing specifically addressed capital markets consideration. I believe this act is geared more toward state level banking. Since cannabis would remain illegal at the federal level, and the major exchanges adhere to federal regulations, I would assume that uplist is not included.
Doubtful SAFE passes the Senate. Schumer is top dog...while he could modify and pass it and use the new monetary impact that is generated from it as the basis for funding the social injustice aspect of his comprehensive bill...I dont see it happening. I believe that he will see passing banking right now will show weakness, to the public, that he is not really concerned with his comprehensive bill. I expect it to stall out. I think he will keep pushing his comprehensive bill and come late Spring/early Summer, if his comprehensive bill isnt gaining traction, he will then revert to something banking related in an effort to get something to pass before midterm elections.
Haha, some of us were buying shares back under the old CEO, when the stock was all hype and trading around the $4 range.
There is a device called the Purpl Pro, its $1500 and can report flower THC and CBD content within a +/- of 1.89 accuracy. They company is also working on an update to the device to test other forms, like rosin. SHWZ should put this device in their dispensaries and provide a service to the local home grown community to test their product. They could even turn it into a home growers competition/leaderboard. Not only does this have the potential to drive additional foot traffic to the store, but in the event that a few individuals continue to impress, it could also be used as a recruitment tool.
"Colorado is on pace to sell more marijuana in 2021 than at any point since it became legal in 2014. So far this year, the Centennial State has sold more than $1.3 billion in marijuana, which puts the state on pace to exceed $2.3 billion in sales this year."
https://www.thecentersquare.com/colorado/colorado-sold-202m-of-marijuana-in-july-but-sales-continue-to-slow/article_85277ae8-14b1-11ec-96fa-e748e60d5c77.html