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green
politics phew....
I got a feeling your "never know" will become real
Senators on both sides of the aisle are throwing support behind a proposal to tuck key marijuana banking legislation into a larger package aimed at boosting U.S. competitiveness, increasing the odds that a significant cannabis bill gets through the upper chamber this year.
Sen. Patty Murray (Wash.), the No. 3 Senate Democrat, is leading a push to pass the SAFE Banking Act, which would enable cannabis firms to use banking services, as part of a sweeping package lawmakers are hashing out in both chambers that is intended to bolster the country’s supply chains and manufacturing.
........
Sen. Steve Daines (Mont.), one of nine Senate Republican co-sponsors of the bill, told The Hill that he thinks other Republicans could get behind the idea.
“We’ve got nine Republican co-sponsors officially on it, close to 50 Democrats,” Daines said. “There are some other Republicans that I’m confident, if we had a vote, would vote for it. So, we’ve got the votes to pass the SAFE Banking Act as a standalone, if we’d like to.”
Green
Thanks, Hunch...
Lovely to wake up to some good news in this troubled world:
Canadian cannabis company Organigram Holdings (NASDAQ:OGI) saw its fiscal Q1 2022 net loss narrow 94% year-over-year thanks to a 117% increase in net revenue.
Shares are up 10%.
In fiscal Q1 2021, net loss was ~$66.4M. In FQ1 2022, that dropped to a loss of ~$4M.
Net revenue in FQ1 was ~31.8M.
The company also noted that it achieved an 8.2% market share in February, making it the No. 3 among Canadian licensed producers.
Organigram (OGI) ended FQ1 (ended Feb. 28, 2022) with $150.7M in cash.
Profitable Quarter Includes Net Income of $52.5 Million and Adjusted EBITDA of $10.1 Million; 12th Consecutive Quarter of Positive Adjusted EBITDA
Net Revenue Increased 23% to $152 Million; Gross Profit Increased 31% to $39.8 Million from the Prior Year Quarter
Medical Market Share Leader in Europe and #1 Leadership Position in Germany with Revenue Growth of Over 4,000%
Maintained #1 Leading Marketing Share in Canada
Achieved $76 Million in Cost Synergies to Date; On-Track to Exceed Original Plan of $80 Million Ahead of Schedule and to Generate Additional $20 Million of Synergies in Fiscal 2023
https://finance.yahoo.com/news/tilray-brands-inc-reports-third-110000041.html
Financial Times today (Apr 6) Share price forecast:
The 17 analysts offering 12 month price targets for Tilray Inc have a median target of 8.00, with a high estimate of 23.00 and a low estimate of 0.82. The median estimate represents a 13.80% increase from the last price of 7.03.
Tilray Stock Rises as Earnings Top Estimates and It Reaffirms View for $4 Billion of Revenue in Fiscal 2024
Published: April 6, 2022 at 7:32 a.m. ET
https://www.marketwatch.com/articles/tilray-stock-rises-as-earnings-top-estimates-and-it-reaffirms-view-for-4-billion-of-revenue-in-fiscal-2024-51649244764?mod=newsviewer_click
Shares of Tilray traded higher in premarket trading Wednesday after the Canadian cannabis company posted earnings that beat expectations but revenue that missed forecasts.
Tilray (ticker: TLRY ) posted third-quarter adjusted earnings of 9 cents a share, topping expectations for a loss of 8 cents a share. Net revenue increased 23% to $152 million, driven by 32% growth in cannabis revenue and 64% growth in beverage alcohol revenue. Analysts surveyed by FactSet were expecting $156.2 million in revenue.
Still, investors may have been buoyed by Tilray’s sneak peek at guidance. The company reaffirmed that it was on track to achieve $4 billion in revenue by the end of fiscal 2024, said CEO Irwin Simon.
International cannabis revenue in the third quarter rose 4,000% over the prior-year quarter, the company said, and it maintained leading market share in Canada, amassing 10.2% of the share. EMEA revenue increased by 37%, the company said, while U.S. operations became profitable, the company said.
“In the U.S., our SweetWater Brewing, Breckenridge Distillery, and Manitoba Harvest businesses are profitable, growing and emerging as nationwide, iconic brands with loyal followings that will be home to THC-based products upon U.S. federal legalization,” Simon said.
Last week, the House of Representatives passed a bill to decriminalize marijuana at the federal level. While the bill’s prospects in the Senate look bleak, it has renewed hope that the push to legalization is one step closer.
Tilray stock was up 1.9% to $7.16 in premarket trading on Wednesday.
Irwin D. Simon, Tilray’s Chairman and Chief Executive Officer, stated:
Tilray Medical has a near 20% share in Germany, providing clear benefits in its own right as well as a first-mover advantage that we will leverage as Germany and the EU move towards broader adult-use and medical use legalization....
Medical Market Share Leader in Europe and #1 Leadership Position in Germany with Revenue Growth of Over 4,000%
link is in post....
House PASSES bill to legalize marijuana:
Three Republicans join Democrats to move bill to the Senate despite GOP saying a crackdown on fentanyl, Ukraine and gas prices should be the priority
The House of Representatives passed the Marijuana Opportunity Reinvestment and Expungement act Friday with a vote of 220-204, mostly along party lines
Three Republicans voted alongside the Democratic majority, while two Democrats voted no with the GOP
It marked the second time the Democrat-led House passed a bill to legalize pot, the first happening in December 2020
https://www.dailymail.co.uk/news/article-10677075/House-PASSES-bill-legalize-marijuana.html
thanks,
The Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act is scheduled for a vote on the floor of the House of Representatives tomorrow... last I heard...
U.S. Senate Unanimously Approves Marijuana Reform Bill On Same Day That House Schedules Legalization Vote
https://www.marijuanamoment.net/u-s-senate-unanimously-approves-marijuana-reform-bill-on-same-day-that-house-schedules-legalization-vote/
U.S. Senate Unanimously Approves Marijuana Reform Bill On Same Day That House Schedules Legalization Vote
https://www.marijuanamoment.net/u-s-senate-unanimously-approves-marijuana-reform-bill-on-same-day-that-house-schedules-legalization-vote/
you are back.... people were missing your 300....
enjoy your quality time... you make such jolly and accurate comments... you'll be missed here...
can no one rid us of this Putin pestilence ...
correct....
correct
correct...
correct....
Malta is the size of a postage stamp... I lived there for awhile... strong people... the canna market is tiny; the Italian mafia fills the black market... mind you, it is another legal market in Europe's opening, while we wait for German legislation, and possible French legalisation... If that happens, Europe will be a bigger market than the USA in 18 - 24 months, and Tilray will be a giant...
canbeer... cheers...
lol...
cannafirewater... cheers...
correct...
get SOMETHING thru this year ! ....you are correct.... that is vital... and this year... preferably this half of this year...
interesting green topography ... a much needed change... will sp perform ever again like the '20 / '21 run...?
House Marijuana Banking Bill Sponsor Is ‘Confident’ It Will Advance Through Senate Despite Obstacles
February 11, 2022
The fight continues to get the Senate to pass a marijuana banking reform bill, and the measure’s House sponsor says he’s “confident” that the opposite chamber will finally take it up.
Rep. Ed Perlmutter (D-CO) has been trying to get the Secure and Fair Enforcement (SAFE) Banking Act across the finish line for several years now, and his latest attempt is to pass it as part of a large-scale manufacturing and innovation bill to which the cannabis language was recently attached in the House.
In an interview with Yahoo Finance on Friday, the congressman discussed the prospects of his proposal, which has cleared the House six times in some form now. He said that while Senate leadership has insisted on passing comprehensive legalization first, he still sees opportunities to advance his bipartisan incremental reform.
https://www.marijuanamoment.net/house-marijuana-banking-bill-sponsor-is-confident-it-will-advance-through-senate-despite-obstacles
House Marijuana Banking Bill Sponsor Is ‘Confident’ It Will Advance Through Senate Despite Obstacles
February 11, 2022
The fight continues to get the Senate to pass a marijuana banking reform bill, and the measure’s House sponsor says he’s “confident” that the opposite chamber will finally take it up.
Rep. Ed Perlmutter (D-CO) has been trying to get the Secure and Fair Enforcement (SAFE) Banking Act across the finish line for several years now, and his latest attempt is to pass it as part of a large-scale manufacturing and innovation bill to which the cannabis language was recently attached in the House.
In an interview with Yahoo Finance on Friday, the congressman discussed the prospects of his proposal, which has cleared the House six times in some form now. He said that while Senate leadership has insisted on passing comprehensive legalization first, he still sees opportunities to advance his bipartisan incremental reform.
“Every [House] Democrat and at least half the Republicans have supported SAFE Banking, and I am confident that the Senate will take it up,” he said. He recognized that Senate Majority Leader Chuck Schumer (D-NY) and colleagues are prioritizing broad legalization legislation that they plan to formally file in April, but he said that he’s “questioned whether they have the votes to get something of that magnitude through the Senate, which has not even had a hearing really on marijuana in 50 plus years.”
https://www.marijuanamoment.net/house-marijuana-banking-bill-sponsor-is-confident-it-will-advance-through-senate-despite-obstacles
House Marijuana Banking Bill Sponsor Is ‘Confident’ It Will Advance Through Senate Despite Obstacles
February 11, 2022
The fight continues to get the Senate to pass a marijuana banking reform bill, and the measure’s House sponsor says he’s “confident” that the opposite chamber will finally take it up.
Rep. Ed Perlmutter (D-CO) has been trying to get the Secure and Fair Enforcement (SAFE) Banking Act across the finish line for several years now, and his latest attempt is to pass it as part of a large-scale manufacturing and innovation bill to which the cannabis language was recently attached in the House.
In an interview with Yahoo Finance on Friday, the congressman discussed the prospects of his proposal, which has cleared the House six times in some form now. He said that while Senate leadership has insisted on passing comprehensive legalization first, he still sees opportunities to advance his bipartisan incremental reform.
“Every [House] Democrat and at least half the Republicans have supported SAFE Banking, and I am confident that the Senate will take it up,” he said. He recognized that Senate Majority Leader Chuck Schumer (D-NY) and colleagues are prioritizing broad legalization legislation that they plan to formally file in April, but he said that he’s “questioned whether they have the votes to get something of that magnitude through the Senate, which has not even had a hearing really on marijuana in 50 plus years.”
https://www.marijuanamoment.net/house-marijuana-banking-bill-sponsor-is-confident-it-will-advance-through-senate-despite-obstacles
wow westward ho... thanks for the tasty news on a green morning...
Canopy Growth GAAP EPS of -C$0.28 beats by C$0.04, revenue of C$141M beats by C$5.21M
Feb. 09, 2022 7:02 AM ET
Canopy Growth press release (NASDAQ:CGC): Q3 GAAP EPS of -C$0.28 beats by C$0.04.
Revenue of C$141M (-7.5% Y/Y) beats by $5.21M.
Encouraging Q3 FY2022 performance drove sequential revenue growth and record quarterly revenue for BioSteel and Storz & Bickel businesses.
Adjusted EBITDA loss in Q3 FY2022 was $67 million, a $1 million improvement versus Q3 FY2021 primarily driven by the reduction in our total SG&A expenses, mostly offset by lower sales and a decline in gross margins.
https://seekingalpha.com/news/3797702-canopy-growth-gaap-eps-of-c028-beats-by-c004-revenue-of-c141m-beats-by-c521m
SMITHS FALLS, ON, February 9, 2022 – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) today announces its financial results for the third quarter fiscal 2022 ended December 31, 2021. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.
Encouraging Q3 FY2022 performance drove sequential revenue growth and record quarterly revenue for BioSteel and Storz & Bickel businesses
“In the third quarter we actioned to win where it matters – driving record performance in our CPG business from both BioSteel and Storz & Bickel, while beginning to stabilize our Canadian business including maintaining the #1 position in premium flower. Our continued discipline and focus are expected to fortify Canopy’s competitive positioning in Canada as we ambitiously build our U.S. CPG, CBD, and THC strategies.”
David Klein, Chief Executive Officer
“Throughout fiscal 2022, we continued to reduce our operating expenses and capital investments. With a renewed sense of urgency, we are focused on achieving profitability in Canada by taking additional steps to simplify our business and optimize our expenses, while making strategic investments in key growth areas.”
Judy Hong, Interim Chief Financial Officer
Highlights
Net revenue increased 7% versus Q2 FY2022. Net revenue decreased by 8% during Q3 FY2022 versus Q3 FY2021, as strong growth in consumer products revenue was offset by the decline in Canadian cannabis sales.
BioSteel and Storz & Bickel (“S&B”) achieved record quarterly revenue during Q3 FY2022 driven by expanded distribution of BioSteel and new products launches for S&B.
S. CBD distribution drive increased Martha Stewart CBD and Quatreau door count in Q3 FY2022 by 21% and 225%, respectively from Q2 FY2022.
Actions well underway to drive improved execution in the Canadian cannabis market, with DOJA, 7Acres and Tweed innovation supporting flower strategy and hero brand, Deep Space, line extension.
S. MSO ecosystem strengthens with acquisition of an option to purchase Wana Brands upon federal permissibility of THC in the U.S., along with continued growth of Acreage’s footprint with its recent acquisition of operations in Ohio, establishing a market-leadership position in the state.
Established cross-functional team to execute North America THC strategy, leveraging early advantages of strong balance sheet, scalable THC brands, established national distribution channels and MSO relationships to expedite entry into the U.S. upon federal permissibility of THC.
Released inaugural Environmental, Social and Governance report, demonstrating the Company’s commitment towards responsible and sustainable growth.
This McConnell seems to have more power than Trump or Biden...
Financial Times
8-Feb-2022
Share price forecast
The 4 analysts offering 12 month price targets for Canopy Growth Corp have a median target of 11.08, with a high estimate of 20.10 and a low estimate of 7.00. The median estimate represents a 41.09% increase from the last price of 7.85.
High
156.0% 20.10
Med
41.1% 11.08
Low
-10.8% 7.00
Earnings history & estimates
On Nov 05, 2021, Canopy Growth Corp reported 2nd quarter 2022 losses of -0.03 per share. This result exceeded the -0.21 consensus loss of the 9 analysts covering the company and exceeded last year's 2nd quarter results by 66.67%.
The next earnings announcement is expected on Feb 09, 2022.
Revenue history & estimates
Canopy Growth Corp reported annual 2021 losses of -4.69 per share on Jun 01, 2021.
2nd quarter 2022 revenues of 131.37m. This missed the 141.89m consensus estimate of the 13 analysts following the company. This was 18.98% above the prior year's 2nd quarter results.
Canopy Growth Corp
CGC:NSQ
PRICE (USD)
7.85
0.00 / 0.00%
SHARES TRADED
215.00
1 YEAR CHANGE
-81.71%
https://markets.ft.com/data/equities/tearsheet/forecasts?s=CGC:NSQ
Financial Times today: 8-feb-2022
Share Price Forecast:
The 17 analysts offering 12 month price targets for Tilray Inc have a median target of 8.00, with a high estimate of 23.00 and a low estimate of 0.82. The median estimate represents a 32.67% increase from the last price of 6.03.
High
281.4% 23.00
Med
32.7% 8.00
Tilray Brands Inc
TLRY:NSQ
PRICE (USD)
6.03
TODAY'S CHANGE
0.08 / 1.34%
SHARES TRADED
4.44k
1 YEAR CHANGE
-76.56%
BETA
2.3908
Earnings history & estimates
On Jan 10, 2022, Tilray Inc reported 2nd quarter 2022 earnings of 0.01 per share.
https://markets.ft.com/data/equities/tearsheet/forecasts?s=TLRY:NSQ
Marijuana Banking Sponsor Says He’s In Amendment Talks With Senate Leader As House Passes Reform For Sixth Time
The House sponsor of a bipartisan marijuana banking bill revealed on Friday that conversations have been happening behind the scenes with Senate leadership about amending his legislation in a way that more specifically addresses equity issues to win their support. Rep. Ed Perlmutter (D-CO) made the comments to Marijuana Moment just hours before the House passed the Secure and Fair Enforcement (SAFE) Banking Act for the sixth time as part of a large-scale bill.......
https://www.marijuanamoment.net/marijuana-banking-sponsor-says-hes-in-amendment-talks-with-senate-leader-as-house-passes-reform-for-sixth-time