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Tilray – First Quarter 2023 Earnings Call
Oct 7, 2022 at 8:30 AM EDT
Listen to webcast
https://viavid.webcasts.com/viewer/event.jsp?ei=1566597&tp_key=02f3694fdf
Cannabis company Canopy applauds Biden’s marijuana pardons as stock surges
Canopy Growth Corporation shares jumped 22% Thursday after President Joe Biden announced he’ll pardon thousands of people for federal marijuana offenses.
The Canada-based cannabis company applauded Biden’s decision.
https://www.cnbc.com/2022/10/06/cannabis-company-canopy-applauds-biden-marijuana-pardons-stock-surges.html
Canopy Growth applauded President Joe Biden’s announcement Thursday that he will pardon thousands of people convicted of marijuana possession.
“Today represents action from the Administration that we have been waiting for – an acknowledgement that cannabis prohibition has failed and that too many lives have been significantly impacted as a result,” David Culver, vice president of government relations Canopy, said in a statement.
Shares of the Canadian-based cannabis company, the world’s largest, jumped 22% after the news, closing at $3.75. Shares of fellow cannabis firm Tilray Brands
gained over 30%. Tilray couldn’t be reached for comment by CNBC.
“President Biden, in keeping with his campaign commitments, has set into motion the actions needed to heal the harms of the past and chart a course for responsible, legal cannabis markets in the future,” Culver said.
".... the immediate reaction in the publicly traded cannabis market was one of excitement, with most stocks getting a significant boost in trading following the news...."
https://mjbizdaily.com/biden-announcement-on-marijuana-scheduling-and-pardons-could-alter-face-of-the-industry
".... the immediate reaction in the publicly traded cannabis market was one of excitement, with most stocks getting a significant boost in trading following the news...."
https://mjbizdaily.com/biden-announcement-on-marijuana-scheduling-and-pardons-could-alter-face-of-the-industry
Biden asks agencies to review marijuana’s classification, pardons prior federal-possession offenses
Cannabis stocks rally on announcement
https://www.marketwatch.com/story/biden-asks-agencies-to-review-marijuanas-classification-pardons-prior-federal-possession-offenses-11665084331?mod=home-page
Biden to pardon thousands for ‘simple possession’ of marijuana
US president also calls for review of drug’s classification under federal law
https://www.ft.com/content/f08d1bc2-467f-44e2-bf29-16c2c2ee72c0
Biden to pardon thousands for ‘simple possession’ of marijuana
US president also calls for review of drug’s classification under federal law
https://www.ft.com/content/f08d1bc2-467f-44e2-bf29-16c2c2ee72c0
Thousands of people convicted of cannabis possession have been pardoned by Joe Biden, in a major move that advocates say was “long overdue” and could help pave the way for national marijuana legalization.
https://www.theguardian.com/us-news/2022/oct/06/biden-marijuana-pardon-possession-decriminalization
Thousands of people convicted of cannabis possession have been pardoned by Joe Biden, in a major move that advocates say was “long overdue” and could help pave the way for national marijuana legalization.
https://www.theguardian.com/us-news/2022/oct/06/biden-marijuana-pardon-possession-decriminalization
thanks, BB, excellent read...
Here in Europe the movement is still towards a massive continental legal market (pop over 700mn people) following developments in the largest market...
Cannabis In Germany - Legalize, Don't Decriminalize
https://seekingalpha.com/article/4542947-cannabis-in-germany-legalize-dont-decriminalize-transcript
"Niklas Kouparanis: I think the biggest mistake was Rena, that the Netherlands and also California decriminalized cannabis before they legalized it. And so, decriminalization of cannabis is not equal to legalization. When we're talking about legalization, and that's what we're talking about in Germany, is legalizing the whole value chain......"
61% of Germans support the Traffic Light Coalition’s plan to legalise and regulate cannabis.
https://cannabisindustrie.nl/ruime-meerderheid-duitsers-61-steunt-plan-regering-om-te-reguleren/?mc_cid=913066e756&mc_eid=322e52e758
you are correct....
well said, Ivman..... the UK's The Guardian newspaper confirmed what you wrote:
Germany’s move to legalise cannabis expected to create ‘domino effect’
Europe’s largest economy joining Canada and California in legalising cannabis for recreational use could create momentum to change the UN convention that restricts the cultivation of the plant and also puts pressure on neighbouring European states to follow Germany’s lead.
“There will be a domino effect, for sure,” said Justus Haucap, the director of the Düsseldorf Institute for Competition Economics. “European countries that have a much bigger problem with illegal cannabis use, like France, are watching very closely what Germany is doing at the moment.”
thanks, Hunch, that's good news for veterans and OGIers....
welcome back, Man... hopes you are feeling greater.... you always had intelligent information to supply inquiring investors... many thanks...
Europe could legalise before the US ... and that would benefit Tilray...
https://www.dw.com/en/germany-will-legalize-cannabis-but-nobody-knows-when/a-62810179
"Smoking weed should eventually become legal in Germany. The political will is there. But actually implementing it is hampered by international law, bureaucracy and tax rules. Activists want the process sped up."
Financial Times today 16-August-02:
Share price forecast for Tilray (in Can dollars):
The one analyst offering a 12 month price target expects Tilray Inc share price to rise to 15.33 in the next year from the last price of 5.54.
Trulieve Delivers Record Second Quarter 2022 Results Driven by Organic Retail Sales
https://investors.trulieve.com/news-releases/news-release-details/trulieve-delivers-record-second-quarter-2022-results-driven?utm_medium=email&utm_source=rss_feed
Revenue of $320.3 million, up 49% year over year and 1% sequentially
Retail revenue grew 3% sequentially across industry leading U.S. network of 168 dispensaries as of June 30, 2022
GAAP gross margin of 57% and Adjusted EBITDA* margin of 35%
thanks
When are the next financials due...? Thanks for input.
"Sector is oversold"
however,
with some positive political news we could see overbought...
The fate of shareholders here rests in Berlin and Washington...
you are so correct in stating:
"For now I see opportunity to buy so cheap. And not only here. Many other big tickers are at bargain prices too."
Canopy's financials disappoint, and will hit sector...
Provided by Dow Jones
May 27, 2022 12:26 PM GMT+1
Canopy Growth Corp. (WEED.T) shares fell 11% in premarket trades Friday after it said its fourth-quarter loss narrowed to C$574.6 million ....
Provided by Dow Jones
May 27, 2022 12:26 PM GMT+1
Canopy Growth Corp. (WEED.T) shares fell 11% in premarket trades Friday after it said its fourth-quarter loss narrowed to C$574.6 million, or $1.46 a share, from C$700 million, or $1.85 a share in the year-ago quarter. Revenue for the three months ended March 31 fell to C$126.1 million from C$167.4 million in the year-ago period. Analysts expected Constellation Brands Inc.-backed (STZ) backed Canopy Growth to report a loss of 30 cents a share on revenue of C$129.9 million, according to FactSet. Looking ahead, Canopy Growth expects to generate positive adjusted Ebitda in fiscal year 2024, excluding investments in BioSteel drinks and its U.S. THC businesses. "Achieving profitability is critical and we have undertaken additional initiatives to streamline and drive efficiencies for our global cannabis business," said CEO David Klein. "In FY2023, we are focused on executing our path to profitability in Canada, while we continue to invest in high potential opportunities -- particularly in BioSteel, and further developing our U.S. THC ecosystem, which we believe remains significantly under-appreciated by the market." Prior to Friday's trades, shares of Canopy Growth are down 35.5% in 2022 compared to a drop of 25% by the Nasdaq and a loss of 41.9% by the Cannabis ETF (THCX).
thanks for posting.
This has taken such a hammering... is there any light at the end of the tunnel?
Like you, I'm well in the black, and intrigued by recent rises despite big boys' scare stories trying to knock down the share price, so they can suck up cheap shares. Maybe they know the tide is turning here, and Canopy could rocket squeezing arrogant suckers.
good luck tomorrow...
Following the release of its fourth quarter and fiscal year 2022 financial results, Canopy Growth will host an audio webcast with David Klein, CEO and Judy Hong, CFO at 10:00 AM Eastern Time on May 27, 2022.
Beginning this quarter, the Company will be using a question and answer platform developed by Say Technologies to enhance engagement with its shareholders, allowing verified retail and institutional shareholders to submit and upvote questions. Management will address a limited number of questions relating to Canopy Growth's business and financial results during the Q&A portion of the conference call. The platform will open on May 20, 2022, at 10:00 a.m. ET and close on May 26, 2022, at 10:00 a.m. ET.
Shareholders can submit questions, after the platform opens, by visiting https://app.saytechnologies.com/canopy-growth-corporation-2022-q4.
Webcast Information
A live audio webcast will be available at:
https://produceredition.webcasts.com/starthere.jsp?ei=1540225&tp_key=a04693a9b2
you are on a roll, Sweet....
Canopy up over 10% so far today...
Investors are always looking for stocks that are poised to beat at earnings season and Canopy Growth Corporation CGC may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Canopy Growth is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for CGC in this report.
https://finance.yahoo.com/news/why-canopy-growth-cgc-might-123012261.html?.tsrc=applewf
Canopy Growth stock rises ~7% on eve of Q4 results, will there be a positive surprise?
Canopy Growth (NASDAQ:CGC) stock rose ~7% on May 26 ahead of its quarterly results.
The company is scheduled to announce Q4 earnings results on Friday, May 27th, before market open.
The consensus EPS Estimate is -$0.16 (+91.4% Y/Y) and the consensus Revenue Estimate is $101.74M (-31.5% Y/Y).
Over the last 2 years, CGC has beaten EPS estimates 25% of the time and has beaten revenue estimates 50% of the time.
Over the last 3 months, EPS estimates have seen 1 upward revision and 1 downward. Revenue estimates have seen 0 upward revisions and 9 downward.
Canopy Growth's stock shot up +15.08% on Feb. 9, the day it reported its Q3 results. The company's net loss narrowed even though net revenue declined Y/Y.
https://seekingalpha.com/news/3843174-canopy-growth-stock-rises-7-on-eve-of-q4-results-will-there-be-a-positive-surprise?mailingid=27848686&messageid=2900&serial=27848686.7238&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=27848686.7238
Thanks, Baz....
more news:
Shifting attitudes among Republicans toward cannabis are now mirrored in Congress, reports Forbes, where lawmakers are debating not if marijuana should be legalized, but how.
Some of the Republican-led cannabis initiatives include:
Rep. Don Young’s GRAM Act
Rep. Greg Steube’s Veterans Cannabis Use for Safe Healing Act
Rep. Nancy Mace’s States Reform Act
Congressional Cannabis Caucus co-chair Rep. Dave Joyce’s STATES Act and the Common Sense Cannabis Reform Act
Shifting attitudes among Republicans toward cannabis are now mirrored in Congress, reports Forbes, where lawmakers are debating not if marijuana should be legalized, but how.
Some of the Republican-led cannabis initiatives include:
Rep. Don Young’s GRAM Act
Rep. Greg Steube’s Veterans Cannabis Use for Safe Healing Act
Rep. Nancy Mace’s States Reform Act
Congressional Cannabis Caucus co-chair Rep. Dave Joyce’s STATES Act and the Common Sense Cannabis Reform Act
Legalise Cannabis Australia party sees record Queensland Senate votes in federal election
https://www.abc.net.au/news/2022-05-23/qld-federal-election-legalise-cannabis-gains-record-voters/101083878
The fact that Germany seems to be fast-tracking cannabis reform, and further under such circumstances will hopefully be a wake-up call to the rest of the world. Starting of course, with the United States.
Beyond this the impact will be felt almost instantly across Europe. Of course, there will be more conservative states which slow down reform. Newly re-elected Emmanuel Macron swore that he would not legalize recreational use while in office. Then again, the savvy French leader is a politician who recognizes which way the wind is blowing. And on this one, it has a nice, European-wide unifying effect.
Portugal, Luxembourg, and potentially Spain may also move quickly now to start to create export crops and products for a very lucrative and hungry market. Greece is having a field day.
https://hightimes.com/news/german-bundestag-pressures-health-department-for-cannabis-reform/
In a rapid turn of events, the German Bundestag’s budget committee has placed pressure on the German Minister of Health, Karl Lauterbach, to present a bill for recreational cannabis reform this year for passage by the end of 2022.
If he fails, he will lose part of his ministerial budget.
The committee, now in negotiations over all parts of the government’s annual spend, decided to temporarily suspend public relations funds for the Department of Health if the recreational cannabis bill is not passed this year. Lauterbach had just announced his intention to introduce such a bill by summer rather than autumn. It is unclear which decision actually came first, but at this point, it is obvious that the Traffic Light Coalition has decided to prioritize a truly burning issue.
Regardless, this is a major move both nationally and globally when it comes to the legalization of cannabis. It is almost unprecedented as a pressure tactic in German politics (which are genteel by U.S. standards). Furthermore, despite all the bureaucratic delay on just about everything here, it is also very clear that when they want to, the German government can move quite quickly.
The American Congress (particularly the Senate side of the Hill) should take note......
(from HT)
In a rapid turn of events, the German Bundestag’s budget committee has placed pressure on the German Minister of Health, Karl Lauterbach, to present a bill for recreational cannabis reform this year for passage by the end of 2022.
If he fails, he will lose part of his ministerial budget.
The committee, now in negotiations over all parts of the government’s annual spend, decided to temporarily suspend public relations funds for the Department of Health if the recreational cannabis bill is not passed this year. Lauterbach had just announced his intention to introduce such a bill by summer rather than autumn. It is unclear which decision actually came first, but at this point, it is obvious that the Traffic Light Coalition has decided to prioritize a truly burning issue.
Regardless, this is a major move both nationally and globally when it comes to the legalization of cannabis. It is almost unprecedented as a pressure tactic in German politics (which are genteel by U.S. standards). Furthermore, despite all the bureaucratic delay on just about everything here, it is also very clear that when they want to, the German government can move quite quickly.
The American Congress (particularly the Senate side of the Hill) should take note.
One of the main factors in this overselling is: Putin.
But he too will pass.
The West knew Putin was a dangerous, unethical, perverse, self-centred 'enemy'. Now we see his army's low morale with setbacks from Putin's unfocused attempts at an immoral target: enslavement of free people, however, Putin's spiritual starvation, lack of international support and scattered military disasters in the Ukraine heralds his defeat and his arrest for war crimes - or wipe-out by Kremlin 'colleagues'.
Tilray's future looks green to me...
you have the technicals correct, however, other sentiments also drive markets....
"Retail sales volumes across Great Britain rose by 1.4% in April, following a fall of 1.2% in March, the Office for National Statistics reports -- better than the 0.2% fall economists had expected.
The recovery was driven by a rise in food store sales volumes -- up 2.8%, due to higher spending on alcohol and tobacco in supermarkets (supermarket food sales were broadly unchanged)."
(from this morning's Guardian)
Sin stocks (alcohol, cannabis, etc, etc) will ride (imo) the inflation and recession waves....
thanks, Baz, for good news...
we will be red, green, red red red, and the odd green green, and red again, until politicians get their fingers out of their holes and do the work the majority of citizens wish - legalisation...
long term: citizens will remain while lick-arse politicians come and go...
what a f****d up world politics is...