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https://seekingalpha.com/article/4272821-daily-insider-ratings-round-6-27-19
On Today's Tables: Insider trades were rated Significant at:
Tejon Ranch (TRC);
Nicholas Financial (NICK);
AMAG Pharm (AMAG);
Agree Realty (ADC).
To the tune of 7 million dollars worth of stock.
I'm giving it some more time before I get back in. I'm tied up with AMAG & PTN and the new FDA approved sex drug for women. Works on men too though.
Yeah, but when are they going to finally finish it. They keep promising.
Let's hope it's somehow connected to a buyout.
Will insurance pay for it?
That's good planning on their part. What do you think of management. Have they performed up to expectations?
That's the only thing that is keeping me from putting 10k on my credit card (9% interest)to put on the stock. I posted this on StockTwits.
All this speculation on what the PPS is fun to read, but nobody really knows. It is a unique drug with only one competitor (though even calling Addyi a competitor seems ridiculous). The company has at least 200 M shares. But since we're fantasizing about what would could happen upon approval how bout this? We have a BIDDING WAR for the company from 2 or more companies. Would that be too cool or what? Just remember: HIGH EXPECTATIONS are just PRE-RESENTMENTS if things go south.
From Stocktwits:
llish
apollo1452
Jun 14th, 9:30 pm
$PTN On 8/18/15 the FDA approved Sprout Pharma's Addyi for women's Hypoactive Sexual Desire Disorder (HSDD).
On 8/20/15 Valeant Pharma (now Bausch Health Cos) bought Sprout Pharma for $1BILLION in cash, plus a share of future profits based on milestones.
Addyi is a terrible drug. The FDA requires a Boxed Warning regarding risk of severe low blood pressure & fainting. Addyi CANNOT be used with alcohol & Requires Daily Dosage to work. Addyi has numerous side effects including dizziness, sleep disorders, nausea, tiredness, dry mouth. And the kicker: "Do not drink grapefruit juice if you take Addyi. Drinking grapefruit juice during your treatment with Addyi increases your risk of loss of consciousness." SMH!
ALL THAT B.S. FOR $1BILLION PLUS??? Compare to Vyleesi which is only taken on demand when sex is desired, is good with alcohol & has minimal side effects...& Vyleesi Works On Men.
Vyleesi approval = possible PTN buyout & the asking price of $1BILLION PLUS PLUS
Just remember - High expectations are just pre-resentments. Still, I didn't make these guesses. https://www.marketbeat.com/stocks/NYSEAMERICAN/PTN/price-target/
16,975@$1.289
Yeah, that's EXACTLY what makes me nervous about putting money in the stock. Yet the CEO implied it was all but done and they were working on the labeling.
A Zillion?
Had to get a psych exam before barbaric surgery (I passed :¦»))and the Doc & I were talking about stocks. He mentioned this one and the drug (Spanish fly?)that should be approved the 23rd. Let me be probably the two hundredth person to ask "Why is it down?"
The CEO was on CNBC yesterday.
https://www.cnbc.com/video/2019/06/06/cresco-labs-ceo-on-recreational-marijuana-legalization-in-illinois.html
Finally worked around to getting back ORHOF with 1250 shares. Here's a thought and that's all it's worth. If you can short CRBLF you might make a little money. The arbitrage is going to get more serious soon.
If you knew how much I've lost in the market I wouldn't be. So far I've been Luckin (sic) out with this one. :¦»
Don't feel bad for me as I think we've got a ways to go what with institutions buying in. I've made 14k so far.
Got out at at $19.68 then saw this. Back in with about the same number of share 2650@$20.67
2019-06-03 13G GIC Private Ltd 46,256,000
2019-06-03 13G/A Melvin Capital Management LP 20,000,000 23,200,000 16.00
2019-05-31 13G Louis Dreyfus Co B.v. 23,529,412
2019-05-28 13G Darsana Capital Partners LP 344,355,005
Yeah, I know right? Did you read the article about how undervalued the two companies are? It confirms what I suspected. And it's been publicized in numerous articles. Just going have to wait to be discovered" I guess.
https://finance.yahoo.com/news/big-under-radar-marijuana-stock-153800248.html
""I think that Cresco Labs could represent one of the best ways to profit from growth in the U.S. cannabis market -- and that growth should be significant."
Undervalued? Glad someone noticed!
https://seekingalpha.com/article/4253811-merger-cresco-labs-origin-house-massive-undervaluation
Upgrade for Cresco - Alpha:
https://seekingalpha.com/article/4253442-cresco-labs-2-big-acquisitions-racing-dominance
The supposed reason for the sell-off today?
https://www.marketwatch.com/story/cannabis-stocks-lower-as-investors-await-the-fate-of-the-states-act-2019-04-08?siteid=yhoof2&yptr=yahoo
Not a good day for the sector. Of the 8 weed stocks I follow besides these 2 all were down. I tried to juggle things and it didn't work out so well. I now have 3k clrbf and 2940 ORHOF. If the conversion happen today I'd have 295 fewer shares CLRBF. Hoping Cresco goes up faster from here. Bought the 3k @$12.18 USD.
Don't know if this is old news or not.
https://www.newkerala.com/news/read/124532/origin-house-california-subsidiaries-kaya-and-floracal-awarded-annual-cannabis-licenses.html
They should make a disposable plastic shopping bag made from hemp (biodegradable of course)that replaces the plastic bags that are now illegal in Seattle and fill up the landfills and whale's stomachs.
Cool! We made Forbes: https://www.forbes.com/sites/alanjbrochstein/2019/04/07/mergers-and-acquisitions-light-up-the-cannabis-sector/#3aa3ac55887e
"If one takes the closing price of Cresco Labs on Friday of C$16.55, then Origin House, upon consummation of the transaction, would trade at C$13.95, yet it closed at C$12.57. For anyone who wants to invest in Cresco Labs and who expects the deal to go through, paying C$12.57 for Origin House is ultimately a cheaper way to do so, as it represents a discount of 10%. Again, this bargain works only if the deal closes, and, of course, there is no assurance that Cresco Labs won't decline in price, so there is no free lunch unless one sells Cresco Labs to buy Origin House (and the deal closes on the proposed terms)."
Motley Fool https://www.fool.com/investing/2019/04/07/the-5-largest-marijuana-deals-in-history.aspx
5. Cresco Labs acquires Origin House: $823 million
Last, but certainly not least, earlier this week we received word that vertically integrated multistate operator Cresco Labs (NASDAQOTH:CRLBF) would be purchasing Origin House (NASDAQOTH:ORHOF) for CA$1.1 billion, or about $823 million. As with pretty much all deals of this magnitude, Origin House shareholders are set to receive shares of Cresco Labs, meaning the final value of this transaction could change significantly, depending on how Cresco Labs' stock performs in the weeks and months ahead.
Although Cresco Labs is primarily focused on selling, growing, and processing cannabis in the U.S., the acquisition of Origin House will give it something unique: distribution power. Origin House has been busy acquiring marijuana distributors in California in an effort to secure its place as a vital industry middleman. Only a handful of distribution licenses will be handed out in the Golden State, which makes distribution an especially lucrative niche in the largest legal market in the world.
Assuming completion of the deal, Cresco Labs will have a presence in 11 states, sport more than 1.5 million square feet of cultivation space, and have licenses to operate up to 51 retail locations. But what's most important is that Origin House's distribution partnerships will allow it to get its branded products into more than 500 California dispensaries, and over 725 dispensaries across the country.
It's unclear whether Origin House shareholders will vote for the combination, but for the time being, it would slot in at the fifth-largest deal ever announced, and the largest in the U.S. among two publicly traded companies
The video following the one with Marc is "Fireside Chat with Charlie Bachtell, CEO, Cresco Labs" from March 1. He talks about acquisitions just a little over 9 minutes in. Obvious why the want Origin.
04/02/2019 Midas letter on the buyout:
And yet, as hard as it is for me to believe, even I am relatively early in buying Origin. I've been in and out of a number of pot stocks, and had come across the good things people were saying about it, yet it didn't really register with me. As you can see from the different boards there is hardly any discussion going on about this merger. Alpha articles and a few analysts sure, but the vol. traded is still under 500k for both stocks. we'll know when people are paying attention when we start getting 1M shares traded a day.
"Termination fee payable to Cresco in the amount of $45 million if the transaction is terminated under certain circumstances." Yeah, what does"certain circumstances" mean anyway?
I'm a little torn on the idea of a new bidder. For the sake of the future company the deal should cost as little as possible. On the other hand it does seem like they're getting Origin too cheap. And on a third hand there looks to be a lot of good synergies between these 2 companies and if there is a hostile takeover would it screw-up potential growth?
Well, if anyone else was to put in a bid it says this in the Powerpoint:
“Cresco has a right to match provision”
It wouldn't bother me at all if there was another bidder.
Wow, that was a trip. Finally finished reading all the posts on the board while watching Dune. (BTW, I haven't smoked weed since 1982). Nice to see who has stuck around through thick & thin. Also I can see where there might be a tad bit of resentment on some people's part because Origin was doing fine on it's own. Still, I think this is going to be one heck of a company when the dust settles. I was lucky enough to get all my shares under $9 the day after the announcement so no day trading on this one. One minor regret is I sold my SNNVF at a loss to get into Origin and of course it went back up today to just over what my basis had been. I'm still ahead by being here though. Watch the stocks all day (I'm retired) it looks like the arbs have had control of Cresco the last 2 days. A lot of sells below the bid. Wish they'd let CRLBF run a little so we'd get a better buyout price. Has anyone seen estimates for PPS AFTER they've merged?
Submitted this on Twitter to @HalftimeReport to see if they'll talk about it on CNBC: "Origin House(formerly CannaRoyalty) is being bought in an all stock deal (1 share converts to .8428 of a share of Cresco Labs) CRLBF to close in June. This will make them a major MSO in the MJ space especially in California. Is this a good deal at these prices?"
I can't believe how quiet it is. No buzz at all. I find it a little hard to believe, but we might be a little early to the party. Doesn't matter this is in no way a day trade; it's a keeper. Also, I think the arbs put a stake through trading, but it's probably me being a little paranoid.
I do think "They" (whoever they are) held Cresco down today. They killed the morning rally and it took a determined effort to do it. Their were many many trades below the bid and the very last trade of the day was 10k@$12.60 which painted the tape $.18 below what it should have been. We'll make out ok in spite of them.
I think it would be very unwise to short Cresco. Normally it might work, but I think this is an exception to the rule due to the strength of the company. In the article he also say you can just buy Origin, or lastly do nothing. I went for buying Origin. And, the more Cresco goes up the more Origin HAS to go up.
Everybody likes this deal.
https://www.potnetwork.com/news/cresco-labs-why-you-gotta-love-origin-deal
"A classic deal arbitrage strategy calls for investors to buy shares of Origin and sell short the equivalent amount of Cresco Labs. At the current Cresco price of approximately $12.31, the deal value for Origin is $10.00. However, the current Origin stock price is down around $9, or about 11 percent below the final value.
The key here is that investors will earn all of this in just about three months. That works out to an annualized return of 44 percent. Considering all things, where can you expect to earn 44 percent? Certainly not in the average stock or even in the sizzling hot market for cannabis stocks."