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$GNCA UP PREMARKET ON POSITIVE CANCER VACCINE DATA
****COULD BE A GREAT MOVE IN THE DAYS TO SOME, AFTER VERY POSITIVE DATA FOR THEIR GEN-009 CANCER VACCINE******
Joseph Pantginis also upgraded the stock to $42 today, he states,
“Valuation and risks to price target achievement. We reiterate our Buy rating and are increasing our price target to $42 from $5.75. The factors impacting our target change include: (1) adjustment to base year; and (2) adjustment to fully diluted share count subsequent to the 8 reverse split.”
$GNCA UP PREMARKET ON POSITIVE CANCER VACCINE DATA
****COULD BE A GREAT MOVE IN THE DAYS TO SOME, AFTER VERY POSITIVE DATA FOR THEIR GEN-009 CANCER VACCINE******
Joseph Pantginis also upgraded the stock to $42 today, he states,
“Valuation and risks to price target achievement. We reiterate our Buy rating and are increasing our price target to $42 from $5.75. The factors impacting our target change include: (1) adjustment to base year; and (2) adjustment to fully diluted share count subsequent to the 8 reverse split.”
$GOOGL Investors very frustrated with stock and company.
Since the last earnings report NASDAQ:GOOGL is now down over 17% and the selling shows no signs of halting. All major support levels have been broken and it looks very likely that the D December lows are within reach. Despite analysts upgrades recently the stock has continually sold off any small rallies and is now in oversold territory and the momentum indicator signal more pain ahead. In premarket the .7fib level is currently holding the price but unless the market turns more positive, google is in trouble. What is very frustrating is the seemingly entire disregard for investors within the hierarchy of the company, arrogance is a good description of their attitude.
$GOOGL Investors very frustrated with stock and company.
Since the last earnings report NASDAQ:GOOGL is now down over 17% and the selling shows no signs of halting. All major support levels have been broken and it looks very likely that the D December lows are within reach. Despite analysts upgrades recently the stock has continually sold off any small rallies and is now in oversold territory and the momentum indicator signal more pain ahead. In premarket the .7fib level is currently holding the price but unless the market turns more positive, google is in trouble. What is very frustrating is the seemingly entire disregard for investors within the hierarchy of the company, arrogance is a good description of their attitude.
$CLDX PRE MARKET MOVER ON POSITIVE DATA
********CLDX PRESENTED ENCOURAGING DADA AT THE ASCO ANNUAL MEETING ON JUNE 1st, WHICH HAS GOT THE ATTENTION OF INVESTORS PREMARKET, WITH A 15% POP, SPECULATIVE BUT POSSIBLY VERY REWARDING************
“We have observed intriguing clinical activity across a number of patients with similar gene mutation patterns in a disease that has extremely limited treatment options and a particularly poor prognosis,” said Dr . Bauman. “While the data are early, they are provocative and suggest the potential for a biomarker enrichment strategy that could change the standard of care for these patients. I look forward to the opportunity to obtain additional data on CDX-3379 in biomarker selected patient populations.”
AVERAGE ANALYSTS PRICE TARGET $19
AVERAGE ANALYSTS RECOMMENDATION BUY
CELLDEX THERAPEUTICS INC.
Celldex Therapeutics, Inc. engages in the research, development, and commercialization of immunotherapies and other targeted biologics. Its drug candidates have the ability to engage the human immune system and directly inhibit tumors to treat specific types of cancer and other diseases. Its pipeline includes Varlilumab, CDX-1140, and CDX-301, and CDX-3379.
$CLDX PRE MARKET MOVER ON POSITIVE DATA
********CLDX PRESENTED ENCOURAGING DADA AT THE ASCO ANNUAL MEETING ON JUNE 1st, WHICH HAS GOT THE ATTENTION OF INVESTORS PREMARKET, WITH A 15% POP, SPECULATIVE BUT POSSIBLY VERY REWARDING************
“We have observed intriguing clinical activity across a number of patients with similar gene mutation patterns in a disease that has extremely limited treatment options and a particularly poor prognosis,” said Dr . Bauman. “While the data are early, they are provocative and suggest the potential for a biomarker enrichment strategy that could change the standard of care for these patients. I look forward to the opportunity to obtain additional data on CDX-3379 in biomarker selected patient populations.”
AVERAGE ANALYSTS PRICE TARGET $19
AVERAGE ANALYSTS RECOMMENDATION BUY
CELLDEX THERAPEUTICS INC.
Celldex Therapeutics, Inc. engages in the research, development, and commercialization of immunotherapies and other targeted biologics. Its drug candidates have the ability to engage the human immune system and directly inhibit tumors to treat specific types of cancer and other diseases. Its pipeline includes Varlilumab, CDX-1140, and CDX-301, and CDX-3379.
$MDGS RALLY ON CHINA DEAL UP 20% PREMARKET
********Major deal for NASDAQ:MDGS as it signs a licensing and sale agreement in greater China for $3million, Huge deal for a company with a $9 million market cap**************
COMPANY PROFILE
medigus Ltd. is a medical device company, which engages in the research and development, manufacture, and sale of endosurgical tools and instruments. It specializes in the area of Gastroesophageal reflux disease. Its product MUSE System offers minimal invasive endoscopic devices and procedures for gastric surgery.
$MDGS RALLY ON CHINA DEAL UP 20% PREMARKET
********Major deal for NASDAQ:MDGS as it signs a licensing and sale agreement in greater China for $3million, Huge deal for a company with a $9 million market cap**************
COMPANY PROFILE
medigus Ltd. is a medical device company, which engages in the research and development, manufacture, and sale of endosurgical tools and instruments. It specializes in the area of Gastroesophageal reflux disease. Its product MUSE System offers minimal invasive endoscopic devices and procedures for gastric surgery.
$OKTA COULD DOUBLE IN 2 YEARS, LONG TERM HOLD
Thursday's earnings report by NASDAQ:OKTA was a blow out and the guidance was outstanding. Due to the market weakness on Friday the stock did not rally as much as it should have, within the coming days investors may get a better entry point into the stock, but if you are a long term investor and willing to hold this stock for 4/5 years , just buy it asap and you will be well rewarded. The company is aggressively tapping new markets and going after the biggest companies in the world as clients. Educational institution are to the forefront of the strategy also and is a huge market worldwide. One major strength is that their technology is so unique, they are sought to provide their service,trade disputes and political unrest does not hamper their growth or reduce the target market.
EARNINGS CALL HIGHLIGHTS
We kicked off fiscal year '20 with another strong quarter; total revenue grew 50%; subscription revenue grew 52%; calculated billings grew 53%; and we generated positive free cash flow of $13 million. We added 450 new customers in the quarter, bringing our total customer count to over 6,550. Once again, we made broad additions across our enterprise customer base with 53% growth in customers with annual contract value greater than $100,000.
For the second quarter, we expect total revenue of $130 million to $131 million, representing a growth rate of 37% to 38%; non-GAAP operating loss of $14.9 million to $13.9 million; non-GAAP net loss per share of $0.11 to $0.10, assuming shares outstanding of approximately 115 million.
For the full fiscal '20; we are raising our guidance and now expect total revenue of $543 million to $548 million, representing a growth rate of 36% to 37%; non-GAAP operation loss of $667 million to $62 million; non-GAAP net loss per share of $0.49 to $0.45, assuming shares outstanding of approximately $116 million.
AVERAGE ANALYSTS ESTIMATE $112
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
COMPANY PROFILE
Okta , Inc. provides an enterprise-grade identity management services. Its products include single sign-on, multi factor authentication, API access management, API products and integration network services.
$OKTA COULD DOUBLE IN 2 YEARS, LONG TERM HOLD
Thursday's earnings report by NASDAQ:OKTA was a blow out and the guidance was outstanding. Due to the market weakness on Friday the stock did not rally as much as it should have, within the coming days investors may get a better entry point into the stock, but if you are a long term investor and willing to hold this stock for 4/5 years , just buy it asap and you will be well rewarded. The company is aggressively tapping new markets and going after the biggest companies in the world as clients. Educational institution are to the forefront of the strategy also and is a huge market worldwide. One major strength is that their technology is so unique, they are sought to provide their service,trade disputes and political unrest does not hamper their growth or reduce the target market.
EARNINGS CALL HIGHLIGHTS
We kicked off fiscal year '20 with another strong quarter; total revenue grew 50%; subscription revenue grew 52%; calculated billings grew 53%; and we generated positive free cash flow of $13 million. We added 450 new customers in the quarter, bringing our total customer count to over 6,550. Once again, we made broad additions across our enterprise customer base with 53% growth in customers with annual contract value greater than $100,000.
For the second quarter, we expect total revenue of $130 million to $131 million, representing a growth rate of 37% to 38%; non-GAAP operating loss of $14.9 million to $13.9 million; non-GAAP net loss per share of $0.11 to $0.10, assuming shares outstanding of approximately 115 million.
For the full fiscal '20; we are raising our guidance and now expect total revenue of $543 million to $548 million, representing a growth rate of 36% to 37%; non-GAAP operation loss of $667 million to $62 million; non-GAAP net loss per share of $0.49 to $0.45, assuming shares outstanding of approximately $116 million.
AVERAGE ANALYSTS ESTIMATE $112
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
COMPANY PROFILE
Okta , Inc. provides an enterprise-grade identity management services. Its products include single sign-on, multi factor authentication, API access management, API products and integration network services.
$MU Options action alert, $37 June strike Huge Volume
These high volume options as listed on the chart are really unusual as the price action is so poor in NASDAQ:MU and sentiment within the SMH and the Tech sectors are terrible. The June G20 summit is really seen as the last chance for any change in tone towards trade with China, so investors in TECH are wishing June was over asap . On the flip side the sector is in oversold conditions and MU have earnings on June 25th.
$MU Options action alert, $37 June strike Huge Volume
These high volume options as listed on the chart are really unusual as the price action is so poor in NASDAQ:MU and sentiment within the SMH and the Tech sectors are terrible. The June G20 summit is really seen as the last chance for any change in tone towards trade with China, so investors in TECH are wishing June was over asap . On the flip side the sector is in oversold conditions and MU have earnings on June 25th.
$ TTWO options action alert. $130 July 19 strike 20% upside
From the charting perspective it is clear that momentum is back with the bulls and the options market indicated that will continue, option traders are signalling a 20% upside move to the $130 area by July 19. Our previous wave count remains intact and the next hurdle is crossing above the 200ma, which should engage more new investors.
$ TTWO options action alert. $130 July 19 strike 20% upside
From the charting perspective it is clear that momentum is back with the bulls and the options market indicated that will continue, option traders are signalling a 20% upside move to the $130 area by July 19. Our previous wave count remains intact and the next hurdle is crossing above the 200ma, which should engage more new investors.
$STZ Reversal or Short next week depending on Mr Trump.
One tweet and investors in NYSE:STZ wake up to a 9% loss on a issue completely from left field. No one expected this to happen and in reality it should never happen, picking fights with your friends does not damage your enemies. The trade dispute with mexico, announced by a tweet just shows what a sitcom politics have become in the USA, his own trade advisors were not even informed about it, nore his economic advisors. It is pretty safe to say that politicians and lobbyists will not get much sleep this weekend, business owners, trade councils, Unions, Human rights activists and political benefactors will be battering at the door of their local representatives, to get answers fast. The entire political system must be called into question when a TWEET can affect so many lives and businesses, should the POTUS be able to carry such power.?
Despite the rant , next week could prove pivotal in this stock, having such a high dependance on cross border trade, if the rhetoric was to change this could provide a great long reversal trading opportunity.
$STZ Reversal or Short next week depending on Mr Trump.
One tweet and investors in NYSE:STZ wake up to a 9% loss on a issue completely from left field. No one expected this to happen and in reality it should never happen, picking fights with your friends does not damage your enemies. The trade dispute with mexico, announced by a tweet just shows what a sitcom politics have become in the USA, his own trade advisors were not even informed about it, nore his economic advisors. It is pretty safe to say that politicians and lobbyists will not get much sleep this weekend, business owners, trade councils, Unions, Human rights activists and political benefactors will be battering at the door of their local representatives, to get answers fast. The entire political system must be called into question when a TWEET can affect so many lives and businesses, should the POTUS be able to carry such power.?
Despite the rant , next week could prove pivotal in this stock, having such a high dependance on cross border trade, if the rhetoric was to change this could provide a great long reversal trading opportunity.
$ALGN OPTIONS ACTIVITY ALERT 50% UPSIDE TARGET
****** OPTIONS ACTION CAN BE A GREAT INDICATOR OF FUTURE ANNOUNCEMENTS OR A EARNINGS SURPRISE, FRIDAYS OPTIONS ACTIVITY IN NASDAQ:ALGN IS HIGHLY UNUSUAL GIVEN THE UPSIDE TARGET OF $430 TRADED WHICH IS 50% HIGHER THAN THE CURRENT PRICE, THE EXPIRY IS 2020 BUT IT WOULD STILL BE A DRASTIC MOVE. ALGN HAS FALLEN OUT OF FAVOUR AND HAS QUITE A HIGH VALUATION BUT IT IS STILL IN A FANTASTIC GROWTH MARKET.
$ALGN OPTIONS ACTIVITY ALERT 50% UPSIDE TARGET
****** OPTIONS ACTION CAN BE A GREAT INDICATOR OF FUTURE ANNOUNCEMENTS OR A EARNINGS SURPRISE, FRIDAYS OPTIONS ACTIVITY IN NASDAQ:ALGN IS HIGHLY UNUSUAL GIVEN THE UPSIDE TARGET OF $430 TRADED WHICH IS 50% HIGHER THAN THE CURRENT PRICE, THE EXPIRY IS 2020 BUT IT WOULD STILL BE A DRASTIC MOVE. ALGN HAS FALLEN OUT OF FAVOUR AND HAS QUITE A HIGH VALUATION BUT IT IS STILL IN A FANTASTIC GROWTH MARKET.
Please visit our IHUB message board for updates! ;)
Please visit our IHUB message board for updates! ;)
$MSFT Options traders go against the grain. Bullish action $134
May has been a horrendous month for the Tech sector, they majority of the Giants are sitting on the precipice of major corrections. The indexes are starting to lose all major supports, so the activity in the options market is extremely unusual when Traders are betting on such a bullish move to $134 by June 21st. There is no stimulus on the cards apart from possibly earnings from Salesforce next week, that could help change sentiment.
$MSFT Options traders go against the grain. Bullish action $134
May has been a horrendous month for the Tech sector, they majority of the Giants are sitting on the precipice of major corrections. The indexes are starting to lose all major supports, so the activity in the options market is extremely unusual when Traders are betting on such a bullish move to $134 by June 21st. There is no stimulus on the cards apart from possibly earnings from Salesforce next week, that could help change sentiment.
$LYB Unusual options activity,Share repurchase, Dividend Hike
Quite an eventful week for NYSE:LYB with some notable changes for investors to stew over. The CFO has announced his retirement, a dividend hike is implemented and a share repurchase programme of up to 10% of the company's shares. The company like all among the sector has really struggled of late to find any positive price action with the global trade issues and the correlation to oil's tumble. The options market however indicates a sizeable positive move in the stock. The stock is trading at a ridiculous 6.8 P/E but wait for the selling to abate and indicators to turn positive
$LYB Unusual options activity,Share repurchase, Dividend Hike
Quite an eventful week for NYSE:LYB with some notable changes for investors to stew over. The CFO has announced his retirement, a dividend hike is implemented and a share repurchase programme of up to 10% of the company's shares. The company like all among the sector has really struggled of late to find any positive price action with the global trade issues and the correlation to oil's tumble. The options market however indicates a sizeable positive move in the stock. The stock is trading at a ridiculous 6.8 P/E but wait for the selling to abate and indicators to turn positive
$LTCUSD STILL ON COURSE FOR $130 5TH WAVE TARGET.
Needless to say, things got a little nervy yesterday, but it actually built confidence in our LTC position with the manner in which support held so strong. We have described on the chart how we have altered out trade setup, and will update if that changes, possibly moving our 5th wave target higher but will stick with $130 for now. Happy and safe trading folks.
$LTCUSD STILL ON COURSE FOR $130 5TH WAVE TARGET.
Needless to say, things got a little nervy yesterday, but it actually built confidence in our LTC position with the manner in which support held so strong. We have described on the chart how we have altered out trade setup, and will update if that changes, possibly moving our 5th wave target higher but will stick with $130 for now. Happy and safe trading folks.
$EOSUSD Banked profits in fear of sell the news.
Having built some nice profits in EOS we have decided to bank the profit and await for a further pullback, or a break above the $9 region to accumulate once again. There is quite a lot of fomo money in EOS in anticipation of news today, so we adopt the "Buy the rumor Sell the news approach", much rather miss another- 5%-10% gain than loss hard earned profits.
$EOSUSD Banked profits in fear of sell the news.
Having built some nice profits in EOS we have decided to bank the profit and await for a further pullback, or a break above the $9 region to accumulate once again. There is quite a lot of fomo money in EOS in anticipation of news today, so we adopt the "Buy the rumor Sell the news approach", much rather miss another- 5%-10% gain than loss hard earned profits.
$BTCUSD $9900 - $10000 5th wave target remains
Yesterday's price action was a bit of a wrecker with such spikes and wicks hunting stop losses to shake you out of the market. Despite the sudden bearish sentiment our 5th wave target remains in the high $9900 region. Atls suffered much higher volatility and losses that BTC yesterday, so BTC will probably benefit from a transfer of investments from those to the dominant BTC .
$BTCUSD $9900 - $10000 5th wave target remains
Yesterday's price action was a bit of a wrecker with such spikes and wicks hunting stop losses to shake you out of the market. Despite the sudden bearish sentiment our 5th wave target remains in the high $9900 region. Atls suffered much higher volatility and losses that BTC yesterday, so BTC will probably benefit from a transfer of investments from those to the dominant BTC .
$CL Struggling to find any support for commodities.
There just does not seem to be any reason or data to bring any relief to the commodities market. Global slowdown looks a increasing risk as Mr Trump wages trade wars with half the world. The supply chain continues to grow while demand decreases, even tensions in the Persian gulf has not helped stabilise the markets. In our opinion it is a no go zone for inexperienced investors/traders to be trying to catch the bottom, one tweet could liquidate you.
$CL Struggling to find any support for commodities.
There just does not seem to be any reason or data to bring any relief to the commodities market. Global slowdown looks a increasing risk as Mr Trump wages trade wars with half the world. The supply chain continues to grow while demand decreases, even tensions in the Persian gulf has not helped stabilise the markets. In our opinion it is a no go zone for inexperienced investors/traders to be trying to catch the bottom, one tweet could liquidate you.
$JNJ Looks a certain short from here. $120 NEXT STOP
*****INVESTORS IN NYSE:JNJ CAN'T WAIT FOR MAY TO BE OVER, ALREADY DOWN 7% AND 5% IN ONE DAY , NEXT SUPPORT IS ANOTHER 6% AWAY AND IT LOOKS VERY MUCH LIKE THAT IS WHERE THE PRICE IS GOING. OPIOID LITIGATIONS CONTINUE TO BE A DRAG ON SENTIMENT AND THAT ISSUE WILL INTENSIFY AS THE CRISIS INTENSIFIES.
$JNJ Looks a certain short from here. $120 NEXT STOP
*****INVESTORS IN NYSE:JNJ CAN'T WAIT FOR MAY TO BE OVER, ALREADY DOWN 7% AND 5% IN ONE DAY , NEXT SUPPORT IS ANOTHER 6% AWAY AND IT LOOKS VERY MUCH LIKE THAT IS WHERE THE PRICE IS GOING. OPIOID LITIGATIONS CONTINUE TO BE A DRAG ON SENTIMENT AND THAT ISSUE WILL INTENSIFY AS THE CRISIS INTENSIFIES.
$VMW Running out of steam in May, can earnings help?
It has been a fantastic year so far for NYSE:VMW as the cloud kings have been the focus of investors money, but just how strong are investors resolve if things turn south for Vmware?. there is no doubt the company has a unrivalled client list with MSFT , AMZN ,DELL, IBM & BABA among its cloud integration customers. Furthur new products will have likely increased their customer base in the quarter, thus earnings are going to be good, but this is not time to be entering into a long position , in a weak market. Better entries will be available as the stock needs a pullback.
If the stock breaks out $207-$208 is a good alert level.
AVERAGE ANALYSTS PRICE TARGET $193.75
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 33
COMPANY PROFILE
VMware , Inc. engages in the provision of cloud infrastructure and business mobility. Its products include Software-Defined Data Center, Hybrid Cloud Computing, and End-User Computing. It supports modernizing data centers, integrating public clouds, empowering digital workspaces and transforming security.
chart]investorshub.advfn.com/uimage/uploads/2019/6/3/vghxxvmw-6-3-19.gif[/chart]
$VMW Running out of steam in May, can earnings help?
It has been a fantastic year so far for NYSE:VMW as the cloud kings have been the focus of investors money, but just how strong are investors resolve if things turn south for Vmware?. there is no doubt the company has a unrivalled client list with MSFT , AMZN ,DELL, IBM & BABA among its cloud integration customers. Furthur new products will have likely increased their customer base in the quarter, thus earnings are going to be good, but this is not time to be entering into a long position , in a weak market. Better entries will be available as the stock needs a pullback.
If the stock breaks out $207-$208 is a good alert level.
AVERAGE ANALYSTS PRICE TARGET $193.75
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 33
COMPANY PROFILE
VMware , Inc. engages in the provision of cloud infrastructure and business mobility. Its products include Software-Defined Data Center, Hybrid Cloud Computing, and End-User Computing. It supports modernizing data centers, integrating public clouds, empowering digital workspaces and transforming security.
chart]investorshub.advfn.com/uimage/uploads/2019/6/3/vghxxvmw-6-3-19.gif[/chart]
$COST Everyone loves Costco, but not at $240 & 30 P/E
Its is not uncommon for NASDAQ:COST to fall on a good earnings report and it always bounces back within a few months, longs are probably a bit apprehensive going into earnings as selling has been quite intense this week. When consulting they technicals the stock has actually been showing bearish divergences since early May, as the price climbed the RSI , MACD and CMF have all steadily dropped.
Sentiment in the market is poor, but Costco is one of those companies immune to certain economics that affect others, consumers always want good value and Costco offers that, in good and bad times. The subscription model also provides recurring guaranteed income, which investors love but at a 30 P/E ratio it getting a little expensive
The best policy is to wait and see on this, because if the breakout fails and support breaks a drop to $220 is very possible to fill that gap
$COST Everyone loves Costco, but not at $240 & 30 P/E
Its is not uncommon for NASDAQ:COST to fall on a good earnings report and it always bounces back within a few months, longs are probably a bit apprehensive going into earnings as selling has been quite intense this week. When consulting they technicals the stock has actually been showing bearish divergences since early May, as the price climbed the RSI , MACD and CMF have all steadily dropped.
Sentiment in the market is poor, but Costco is one of those companies immune to certain economics that affect others, consumers always want good value and Costco offers that, in good and bad times. The subscription model also provides recurring guaranteed income, which investors love but at a 30 P/E ratio it getting a little expensive
The best policy is to wait and see on this, because if the breakout fails and support breaks a drop to $220 is very possible to fill that gap
$crlbf Cresco labs 313% revenue growth in cannabis & no debt
From what we can see the company is doing things right and they acquisitions seem to be a great strategy in getting a larger footprint in the states that hold the greatest value.
To best analyse the company, we have attached a small section of the transcript from the most recent earnings report.
EARNINGS TRANSCRIPT
"In the first quarter, we generated revenue of $21.1 million, a 313% year-over-year increase, compared to Q1 of 2018 and a 24% sequential increase quarter-over-quarter. Q1’s proforma revenue was equal to $33.9 million, and importantly, we delivered another quarter of positive adjusted EBITDA. We couldn’t be happier with what we’ve been able to accomplish so far this year.Cresco generated Q1 gross profit of $9.4 million or 44.6% of revenue, compared to gross profit at $2.2 million or 43.6% of revenues for the comparable prior year period.We expect our gross profit margins to continue to improve over time as we leverage the infrastructure associated with scaling the business and expanding our production capabilities in several markets.Turning to the balance sheet and liquidity measures, Cresco is low capitalized to execute on its strategic initiatives in the coming year. As of March 31, 2019, Cresco had total assets of over 364 million, including cash and cash equivalents of $106.1 million. The company has a working capital position of approximately $146 million with no debt on the balance sheet ."
We would suggest you make the effort to read the entire transcript as it paints a very positive future for the company.
chart]investorshub.advfn.com/uimage/uploads/2019/6/3/bhfxxgteh-6-3-19.gif[/chart]
$crlbf Cresco labs 313% revenue growth in cannabis & no debt
From what we can see the company is doing things right and they acquisitions seem to be a great strategy in getting a larger footprint in the states that hold the greatest value.
To best analyse the company, we have attached a small section of the transcript from the most recent earnings report.
EARNINGS TRANSCRIPT
"In the first quarter, we generated revenue of $21.1 million, a 313% year-over-year increase, compared to Q1 of 2018 and a 24% sequential increase quarter-over-quarter. Q1’s proforma revenue was equal to $33.9 million, and importantly, we delivered another quarter of positive adjusted EBITDA. We couldn’t be happier with what we’ve been able to accomplish so far this year.Cresco generated Q1 gross profit of $9.4 million or 44.6% of revenue, compared to gross profit at $2.2 million or 43.6% of revenues for the comparable prior year period.We expect our gross profit margins to continue to improve over time as we leverage the infrastructure associated with scaling the business and expanding our production capabilities in several markets.Turning to the balance sheet and liquidity measures, Cresco is low capitalized to execute on its strategic initiatives in the coming year. As of March 31, 2019, Cresco had total assets of over 364 million, including cash and cash equivalents of $106.1 million. The company has a working capital position of approximately $146 million with no debt on the balance sheet ."
We would suggest you make the effort to read the entire transcript as it paints a very positive future for the company.
chart]investorshub.advfn.com/uimage/uploads/2019/6/3/bhfxxgteh-6-3-19.gif[/chart]