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Did you see ITHUF announced it's exploring and open to a sell of the company? Buzzards have been circling them for a while, would SHWZ be one of them potentially looking down from above?
There needs to be an online betting market established for the US congress, that way we could at least make some money on sure bets like SAFE banking not being enacted. Would make watching congress fun if not profitable for once.
SAFE was always better for the sector as a whole than SHWZ in particular, though SHWZ would have benefitted from any positive moves in the MJ space collaterally. Now it's a sector of attrition and separating wheat from the chaff over the next year, since there's no way SAFE will be a priority by the republicans at the start of the year. SHWZ is in a good spot in a flailing sector and it will take some time for them to be rewarded the way they should as big money stays out and even retail investors look elsewhere, especially when the news in 2023 will focus on pot companies closing doors. That negative sentiment will be a lead balloon while SHWZ keeps working the plan. I'm resigned to again sitting and waiting another year.
not to mention make money, rather than watch it grow and wither on a regular basis
I was figuring the continued downslide to the most tracked msos would continue to poison the well in the sector into end of year. in 2023 I am giving up on hoping and will move more into trading in mj including some of my holdings with shwz more regularly. Seems we may have a year of that in the future at this rate.
Back to the island of misfit toys for another year, hoping to be rescued next year. And to add insult to injury at the end of the year to add to the selling:
https://eresearch.fidelity.com/eresearch/goto/evaluate/news/basicNewsStory.jhtml?symbols=TLRY&storyid=202212131233BENZINGANEWSWIRE30061659
This is the actual inverse of what I thought would happen all those years ago when Canada legalized. I thought countries would be lining up to get a piece of the profits from the magic pie. Instead, inaction, at best stumbling forward since then, except at the various states. Profoundly disappointing.
agreed. this is a bi-partisan no brainer. the only thing that works is shame once these sort of clamp downs on progress occur. Dems should have been going on TV talking about MJ business owners in states with senators likely not to pass this - saying people may see this as a dems vs repubs game, but here's X person who has y business and is struggling without SAFE. Don't the reps owe these constuents support for their legal businesses? Literally, that easy. Why no spines and messaging from the dem side - just committee based BS.
The only way to undercut Mitch is to raise questions about other Republicans where MJ is legal in their state and they aren't supporting the bill or are threatening not too. Ask them why they aren't working for the businesses and people in their home state, and ask what they expect to gain by bending over for Mltch.
they have the initiative going to finally study cannabis more directly in terms of health benefits, but I agree. MJ was damned first without evidence, now there's this need to have evidence of efficacy to un-damn it.
That's a very solid assumption. I do like the growing chorus of voices urging it forward, the recent polls supporting it, the linking of SAFE to preventing crime (that enables the democrats who have a soft spot politically on that issue to crow about a win on crime as well as MJ), and hearing the big issues are resolved in the bill. It's a no brainer, but I still don't underestimate the capacity of the no-brainers in congress to muck up a good thing by doing nothing at all.
Fingers crossed. Forgot to add that for me the big worry is competing pressures, funding the govt, averting the rail strike - a lot on the table to get done and little time to do it.
Exactly - saw it on my Fidelity site.
was scrolling through this MJ businesses for sale site - found this one in NM - 10 million price (which seems high to me):
https://www.bizbuysell.com/Business-Opportunity/new-mexico-operating-cannabis-legacy-grower-retailer-and-processor/2003017/?d=L25ldy1tZXhpY28vY2FubmFiaXMtYnVzaW5lc3Nlcy1mb3Itc2FsZS8=
This is sample about what I'm thinking size-wise or larger may be in the offing. Only 3 dispensaries now in this one but mention of expansion along TX Border in the works and grow and manufacturing facilities. Plus the legacy licenses. If SHWZ wants to corner the region it needs to move in directions like this. I'd expect them though to be focusing more on the dispensary expansion than grows to capture more of the market recreationally.
I gave this a little more thought last night. When SHWZ acquired Greenleaf they effectively doubled the size of the company. Let's assume their next major move follows that pattern - by either doubling their current CO or NM footprint by acquiring a top competitor in both markets. No one brings on someone at this salary to have them figure out what that target(s) is (are) - they've said all along they have a pipeline of potential candidates. I think IPS is right that this hiring is a priority since SHWZ assessed that at their current size and duties in managing the business they need this additional hand for their next big move. So my guess is we see a fairly quick announcement as to who has been hired and then the announcement shortly after of the M&A target(s). It would not surprise me if both of these announcements occur before end of January.
In that case, let's hope he buys up all the remaining outstanding shares! Something is afoot, it's now a matter of when we hear what that is.
In some ways it's surprising they've come this far without someone on point for M&A. I have to assume Dye has been doing that heavy lifting up until now, with assistance probably from Todd Williams, and Collin Lodge perhaps -plus others crunching the financial numbers of any potential acquisitions. Certainly hiring a leader to focus on M&A will spur that along, and I bet they already have someone in mind ready to step in. Dye's got too many connections and too clear a plan not to have a few names at the ready to fill this role.
Nice find - will be even nicer to see who they get. And I bet it gets filled quickly.
Agree on the long term. And I haven't sold because it is very difficult to time getting in and out due to how quickly it can move. Unless Dye keeps buying I expect we'll trend down through end of year, unless congress surprises us or Dye does with a more significant purchase announcement of another company.
My bigger worry is that this lame duck session will signal again a struggle to pass SAFE, more than likely due to focusing on ensuring funding the government occurs, and a slide hits all MJ stocks making all this progress moot.
As others have been noting, a lot of the big players in MJ have some poorly managed operations. And SHWZ with its 54 million shares is a far cry from Curaleaf's 600 million, Columbia Care 390m etc. Beyond tax selling at end of year we could see a lot of serious re-positioning in the MJ space toward SHWZ, and that's a lot of money that could shift our way over the end of the year into early next year.
Great location near El Paso, the race track and casino, and it will be interesting to see how Everest Cannabis does nearby after this dispensary opens.
Nice post and I agree. They should though also recognize that legalizing MJ also will get MJ more regulated, and if done properly, reduce the black market product on the street like formerly occurred with alcohol. It's a balance of price / taxes etc that needs walked.
Keeping rec pot illegal, making it harder to do banking and therefore increasing costs for the pot company and the secondary effect on pot prices by default, helps fuel the black market and place people at more risk with unregulated product.
Fears around kids are used all the time for censorship, putting controls on content, and a host of other "perceived ills" that when looked at more closely are problems that aren't often even occurring or occur in such small numbers of instances that all the hubbub isn't worth it, unless the real aim is as you note, reducing the freedom of others, chopping businesses off at the knees for some irrational moralistic reason.
Sorry can't post the link from twitter but an anti-legalization group called Smart Approaches to Marijuana is also pushing for SAFE not be enacted. One more negative nelly out there. The good news is Congress doesn't listen to anyone so hopefully it won't matter what they say
I would actually prefer another member of the leadership team stepping up and buying a boatload of shares - that might even send a bigger message at this point. But beggars can't be choosers... Love the rebound today, it was lovely.
Regardless of quality of some of these sites, more positive messaging being put out regarding SHWZ
https://www.investorsobserver.com/news/stock-update/this-cannabis-stock-is-rated-at-the-top-of-the-drug-manufacturers-specialty-generic-industry-should-you-sell-medicine-man-technologies-inc-shwz-thursday
Only if they sell for $20 a share to an outfit like CRON would I be okay with it...
The infamous Benzinga has this out:
https://www.benzinga.com/news/22/11/29768444/672k-reasons-to-be-bullish-on-medicine-man-technologies-stock
So I get a news feed on my Fidelity account from Benzinga noting winners and losers in MJ yesterday. SHWZ not on the list... We still have a ways to go before SHWZ is considered worth discussing apparently...
Yes, it could be SHWZ news is pending, or it could be the world is just catching up, make the idea of SHWZ news pending as possibility 3, and I'm still happy to get 1 out of 3 in my list. But as we know, good SHWZ news never moved the stock before, at least not greatly. So this volume indicator is really quite intriguing this time. I'm thinking finally we may be getting to a sea change in the view of SHWZ by investors.
That's some nice volume. More so than many other pot stocks ticking up today. I'm not going to get too optimistic, but it could be
a) SHWZ's consistently solid ERs and execution are finally getting some notice
b) Yeah, maybe some banking compromise may occur between the R's and D's,
I'd be happy if even one of the above statements proves to be true...
I thought it was a solid ER, happy with the way SHWZ is executing. But of course, watching it drop over 6% after the ER is profoundly frustrating, especially in more than double the recent 90 day volume average. Seeing headlines stating SHWZ missed expectations on eps by .02 of course doesn't help, since that masks how well SHWZ is doing vs peers. Yes, a miss is a miss, but God only knows how much we would have fallen if we had a far worse ER.
I saw that yesterday, saw it was yet another hearing with no commitment for action, yawned and went back to bed... Disappointed the conservative states didn't approve rec MJ yesterday, since that would have given conservatives a bit of cover to move forward with MJ legislation. Basically, yesterday solidified the idea that the tribal battles remain in Congress, Americans as a whole lose again.
people shifting more than likely from being medical mj card holders to recreation. So yes, without another impetus to increase rec sales (marketing and branding, opening in under-served areas) the numbers will stabilize soon.
I only want to see safe banking has passed. Not this inching closer in xeroxes paradox fashion. https://seekingalpha.com/news/3897904-schumer-says-getting-very-close-to-passing-marijuana-banking-bill-in-senate?mailingid=29546610&messageid=2900&serial=29546610.24647&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha&utm_term=29546610.24647
The scheduling system itself is a problem. For example, alcohol is both harmful and has no medical benefits, and because it has no medical benefits, does not need to fall under the controlled substances act's five levels though an argument could surely be made for its strong addiction characteristics to get it scheduled. MJ is less harmful than alcohol and far less addictive but it does have the potential for medical use, unlike alcohol. But MJ is listed as a schedule one even though for the FDA that medical use is not sufficiently determined or its harmful addictive characteristics. None of that makes any sense at all.
In reality, I would think that MJ should be regulated like alcohol, and only deemed a "controlled" substance when sufficient peer reviewed studies demonstrate to the FDA's satisfaction that MJ is indeed medically useful, and based on MJ's then proven medicinal effects on the body that there is a need then to regulate that medical use. And at that stage, Level 3 or lower would make sense.
MJ is caught between a rock and a hard place because of historical misperceptions, the lack of definition of its medical properties, lack of study, but yet the hysteria of the past against all reason got it listed as schedule 1 without any scientific basis for that classification. Now to get it off, there needs to be that scientific basis, which in and of itself is silly since it wasn't needed to get it on the scheduled list.
But maybe something will shake things up this time. We sit and wait.
Maybe I should post more negative views of the federal government if right after posting them they prove me wrong... So glad to be wrong if that proves to be the case.
We already have a majority of states in the US pro MJ, a majority of the population pro MJ. A few more won't move the needle much until nearly ALL states are legal. Then the feds will do something at the federal level since at that point there's no political fallout possible. That's how the cowards in congress act, they follow, and act only when there's no other option possible. Not a leader among them.
Video Discussion for Shwz. October 11
https://ir.schwazze.com/news-releases/news-release-details/schwazze-announces-virtual-town-hall-meeting-0
I don't expect a sector rally until next year. I just don't see anything short term that will drive interest at this time. Midterms will consume much of the remaining year, perhaps there's a return to legislation at the start of 2023.
Customer appreciation in Starbuds, Longmont -
https://finance.yahoo.com/news/star-buds-dispensary-announces-longmont-130000468.html