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$MSOX: Pathway to Medical Cannabis: Prohibition to Prescription
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$MSOS: Pathway to Medical Cannabis: Prohibition to Prescription
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$MRMD: MariMed Inc. (Balance Sheet Summary)
Current Assets: Increased from $51,432,000 in 2023 to $53,054,000 in 2024, indicating a stronger short-term financial position.
Cash and Cash Equivalents: $10,192,000 (2024) compared to $14,645,000 (2023), a decrease but still maintaining significant liquidity.
Accounts Receivable, Net: Improved slightly from $7,199,000 to $7,744,000 suggesting better collection from customers.
Inventory: Increased from $25,306,000 to $31,139,000 indicating growth in production and product availability.
Non-Current Assets: Grew from $144,691,000 in 2023 to $155,480,000 in 2024, reflecting investment in long-term growth.
Property and Equipment, Net: Increased to $93,977,000 from $89,103,000 showing investment in physical assets.
Intangible Assets, Net: Increased from $17,012,000 to $20,404,000 reflecting growth in intangible value.
Goodwill: Increased from $11,993,000 to $15,812,000 indicating potential acquisitions or value addition.
Finance Lease Right-of-Use Assets: Increased from $3,295,000 to $4,151,000 suggesting expanded leasing activities.
Total Assets: Increased to $208,534,000 in 2024 from $196,123,000 in 2023, indicating overall growth.
1. Total Assets Growth: Significant increase in total assets from $196,123,000 to $208,534,000 reflecting overall growth.
2. Inventory Growth: Increase in inventory to $31,139,000 indicating higher production capacity.
3. Investment in Property and Equipment: Increase to $93,977,000 showing commitment to expanding physical infrastructure.
4. Intangible Assets and Goodwill: Growth in intangible assets and goodwill, suggesting value creation and potential acquisitions.
5. Increased Paid-In Capital: Increase in additional paid-in capital, reflecting investor confidence and additional equity financing.
These points indicate a positive trajectory with investments in assets and infrastructure that suggest growth and expansion potential.
Operations Summary
2024: six month
Revenue: $40,438,000
Cost of Revenue: $23,529,000
Gross Profit: $16,909,000
Gross Margin: 41.8%
Operating Expenses: $15,953,000
Income from Operations: $956,000
Six months ended June 30:
2024:
Revenue: $78,371,000
Cost of Revenue: $44,990,000
Gross Profit: $33,381,000
Gross Margin: 42.6%
Operating Expenses: $30,404,000
Income from Operations: $2,977,000
1. Revenue Growth:
Three months ended June 30: Revenue increased from $36,519,000 in 2023 to $40,438,000 in 2024.
Six months ended June 30: Revenue increased from $70,899,000 in 2023 to $78,371,000 in 2024.
2. Gross Profit Increase:
Six months ended June 30: Gross profit increased from $31,764,000 in 2023 to $33,381,000 in 2024.
3. Improvement in Operating Income:
Six months ended June 30: Income from operations was $2,977,000 in 2024, indicating effective cost management despite higher operating expenses.
4. Reduction in Interest Expense:
Six months ended June 30: Interest expense decreased from $5,145,000 in 2023 to $3,353,000 in 2024.
Cash Flows Summary
Cash Flows from Investing Activities:
2024:
Purchases of property and equipment: $8,336,000
Business acquisitions, net of cash acquired: $4,250,000
Purchases of cannabis licenses: $623,000
Proceeds from notes receivable: $13,000
Net cash used in investing activities: $13,809,000
2024:
Proceeds from Construction to Permanent
Commercial Real Estate Mortgage Loan: $2,948,000
Proceeds from mortgages: $1,163,000
Principal payments of finance leases: $676,000
Net cash provided by financing activities: $2,961,000
Positive Cash Flow from Operating Activities:
2024: $6,395,000 indicating the company is generating cash from its core operations.
Increased Cash Flow from Financing Activities:
2024: Positive net cash provided by financing activities ($2,961,000), showing successful financing strategies, including new mortgage loans and managing finance leases.
Investment in Growth:
Continued investment in property, equipment, and business acquisitions, reflecting the company's commitment to growth and expansion.
Positive Adjusted EBITDA:
Six months ended June 30, 2024: Adjusted EBITDA is $9,032, ,000 indicating strong operational performance.
Six months ended June 30, 2024: Non-GAAP Gross Margin increased to 43.3% from GAAP Gross Margin of 42.6%.
Supplemental Information
2024:
Product revenue - retail: $45,969,000
Product revenue - wholesale: $30,373,000
Total product revenue: $76,342,000
Other revenue: $2,029,000
Total revenue: $78,371,000
Strong Growth in Wholesale Revenue:
Six months ended June 30, 2024: Wholesale revenue grew substantially by 41.9% to $30,373,000 from $21,407,000 in 2023.
Overall Revenue Growth:
Six months ended June 30, 2024:
Total revenue increased by 10.5% to $78,371,000 from $70,899,000 in 2023.
Stable Retail Revenue:
Retail revenue remains a significant portion of the total revenue, contributing to a balanced revenue stream.
(Six months ended June 30, 2024:
Retail revenue was $45,969,000 compared to $47,519,000 in 2023, showing resilience)
Increase in Other Revenue:
Six months ended June 30, 2024: Other revenue increased slightly to $2,029,000 from $1,973,000 in 2023, demonstrating growth in additional revenue streams.
These points highlight robust performance in increasing wholesale and overall revenue growth, which are positive indicators of the company's expanding market presence and operational efficiency.
Strong Growth in Wholesale Revenue:
Six months ended June 30, 2024:
Wholesale revenue grew substantially by 41.9% to $30,373,000 from $21,407,000 in 2023.
Overall Revenue Growth:
Six months ended June 30, 2024:
Total revenue increased by 10.5% to $78,371,000 from $70,899,000 in 2023.
Stable Retail Revenue:
Retail revenue remains a significant portion of the total revenue, contributing to a balanced revenue stream.
(Six months ended June 30, 2024: Retail revenue was $45,969,000 compared to $47,519,000 in 2023, showing resilience)
Increase in Other Revenue:
Six months ended June 30, 2024:
Other revenue increased slightly to $2,029,000 from $1,973,000 in 2023, demonstrating growth in additional revenue streams.
These points highlight robust performance in increasing wholesale revenue and overall revenue growth, which are positive indicators of the company's expanding market presence and operational efficiency.
Financial Highlights
Balance Sheet Summary:
Total Assets increased from $196.1M to $208.5M, showing overall growth.
Current Assets grew to $53.1M from $51.4M, with significant liquidity in cash ($10.2M).
Non-Current Assets rose to $155.5M from $144.7M, driven by investments in property, equipment, and intangibles.
Total Liabilities increased to $120.9M from $107.2M, reflecting higher short-term and long-term obligations but manageable within the asset growth.
Stockholders’ Equity remains strong at $68.6M despite a slight decrease from $69.9M.
Positives:
1. Asset Growth: Significant increase to $208.5M.
2. Inventory Increase: Reflects higher production capacity.
3. Investment in Infrastructure: Increased property and equipment investment to $ 94M.
4. Intangible Assets Growth: Indicates value creation and potential acquisitions.
5. Stable Financing: Consistent mezzanine financing at $ 19M.
Statements of Operations Summary:
Revenue Growth:
Q2: Up from $36.5M (2023) to $40.4M (2024).
6 Months: Up from $70.9M (2023) to $78.4M (2024).
Gross Profit Increase:
Q2: Up from $16.4M to $16.9M
6 Months: Up from $31.8M to $33.4M
Operating Income:
Q2: Positive at $ 956K despite higher operating expenses.
6 Months: Positive at $ 3M
Interest Expense Reduction:
Q2: Down from $2.6M to $1.7M
6 Months: Down from $5.1M to $3.4M
Positives:
1. Revenue and Gross Profit Growth: Consistent increase in revenue and gross profit.
2. Positive Operating Income: Indicates effective cost management.
3. Reduced Interest Expenses: Lower financial costs improve net loss figures.
Statements of Cash Flows Summary:
Positive Cash Flow from Operations: $6.4M in 2024, showing strong core operations.
Investing in Growth: Continued investment in property, equipment, and business acquisitions.
Effective Financing: Positive net cash from financing activities at $ 3M.
Positives:
1. Operational Cash Generation: Strong positive cash flow from operations.
2. Strategic Investments: Significant investments in assets and growth initiatives.
3. Effective Financing Strategy: Positive financing activities support growth.
MariMed Inc. demonstrates robust growth in assets, revenue, and operational efficiency, with strategic investments and effective financing supporting its positive trajectory.
NEWS: Trump supports medical cannabis.
https://www.forbes.com/sites/ajherrington/2024/08/08/trump-suggests-he-supports-decriminalizing-marijuana/
Pathway to Medical Cannabis: Prohibition to Prescription
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$MRMD $VRNOF $CURLF $MSOS $MSOX $SPY $QQQ
NEWS: Trump supports medical cannabis.
https://www.forbes.com/sites/ajherrington/2024/08/08/trump-suggests-he-supports-decriminalizing-marijuana/
Pathway to Medical Cannabis: Prohibition to Prescription
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$MRMD $VRNOF $CURLF $MSOS $MSOX $SPY $QQQ
$MRMD: Earnings 8/7/2024
MRMD: MariMed Inc. (Balance Sheet Summary)
Current Assets: Increased from $51,432,000 in 2023 to $53,054,000 in 2024, indicating a stronger short-term financial position.
Cash and Cash Equivalents: $10,192,000 (2024) compared to $14,645,000 (2023), a decrease but still maintaining significant liquidity.
Accounts Receivable, Net: Improved slightly from $7,199,000 to $7,744,000 suggesting better collection from customers.
Inventory: Increased from $25,306,000 to $31,139,000 indicating growth in production and product availability.
Non-Current Assets: Grew from $144,691,000 in 2023 to $155,480,000 in 2024, reflecting investment in long-term growth.
Property and Equipment, Net: Increased to $93,977,000 from $89,103,000 showing investment in physical assets.
Intangible Assets, Net: Increased from $17,012,000 to $20,404,000 reflecting growth in intangible value.
Goodwill: Increased from $11,993,000 to $15,812,000 indicating potential acquisitions or value addition.
Finance Lease Right-of-Use Assets: Increased from $3,295,000 to $4,151,000 suggesting expanded leasing activities.
Total Assets: Increased to $208,534,000 in 2024 from $196,123,000 in 2023, indicating overall growth.
Accounts Payable: Increased from $9,001,000 to $11,854,000 showing more operational activity.
Non-Current Liabilities: Increased slightly from $76,347,000 to $80,272,000 indicating more long-term obligations but manageable.
Positives:
1. Total Assets Growth: Significant increase in total assets from $196,123,000 to $208,534,000 reflecting overall growth.
2. Inventory Growth: Increase in inventory to $31,139,000 indicating higher production capacity.
3. Investment in Property and Equipment: Increase to $93,977,000 showing commitment to expanding physical infrastructure.
4. Intangible Assets and Goodwill: Growth in intangible assets and goodwill, suggesting value creation and potential acquisitions.
5. Increased Paid-In Capital: Increase in additional paid-in capital, reflecting investor confidence and additional equity financing.
These points indicate a positive trajectory with investments in assets and infrastructure that suggest growth and expansion potential.
Six months ended June 30:
• 2024:
o Revenue: $78,371,000
o Cost of Revenue: $44,990,000
o Gross Profit: $33,381,000
o Gross Margin: 42.6%
o Operating Expenses: $30,404,000
o Income from Operations: $2,977,000
Positives:
Revenue Growth:
Three months ended June 30: Revenue increased from $36,519,000 in 2023 to $40,438,000 in 2024.
Six months ended June 30: Revenue increased from $70,899,000 in 2023 to $78,371,000 in 2024.
Gross Profit Increase:
Three months ended June 30: Gross profit increased from $16,376,000 in 2023 to $16,909,000 in 2024.
Six months ended June 30: Gross profit increased from $31,764,000 in 2023 to $33,381,000 in 2024.
Improvement in Operating Income:
Three months ended June 30: Despite an increase in operating expenses, the company maintained positive income from operations ($956,000 in 2024).
Six months ended June 30: Income from operations was $2,977,000 in 2024, indicating effective cost management despite higher operating expenses.
Reduction in Interest Expense:
Three months ended June 30: Interest expense decreased from $2,640,000 in 2023 to $1,724,000 in 2024.
Six months ended June 30: Interest expense decreased from $5,145,000 in 2023 to $3,353,000 in 2024.
Cash Flows from Investing Activities:
• 2024:
o Purchases of property and equipment: $8,336,000
o Business acquisitions, net of cash acquired: $4,250,000
o Purchases of cannabis licenses: $623,000
o Proceeds from notes receivable: $13,000
o Net cash used in investing activities: $13,809,000
Cash Flows from Financing Activities:
• 2024:
o Proceeds from Construction to Permanent Commercial Real Estate Mortgage Loan: $2,948,000
o Proceeds from mortgages: $1,163,000
o Principal payments of finance leases: $676,000
o Distributions: $83,000
o Net cash provided by financing activities: $2,961,000
Positives:
1. Positive Cash Flow from Operating Activities:
o 2024: $6,395,000 indicating the company is generating cash from its core operations.
2. Strong Depreciation and Amortization Contributions:
o Significant amounts for depreciation and amortization ($3,946,000 and $1,183,000 in 2024) demonstrate substantial investment in assets and intangible resources.
3. Increased Cash Flow from Financing Activities:
o 2024: Positive net cash provided by financing activities ($2,961,000), showing successful financing strategies, including new mortgage loans and managing finance leases.
4. Investment in Growth:
o Continued investment in property, equipment, and business acquisitions, reflecting the company's commitment to growth and expansion.
5. Reduction in Cash Outflows from Investing Activities:
o Despite significant outflows, the company is strategically investing in key areas such as property, equipment, and licenses.
These points indicate that MariMed Inc. is focusing on operational efficiency, strategic investments, and effective financing to support its growth trajectory.
Positives:
1. Positive Adjusted EBITDA:
o Three months ended June 30, 2024: Adjusted EBITDA is $4,371, ,000 showing positive earnings before interest, taxes, depreciation, and amortization adjustments.
o Six months ended June 30, 2024: Adjusted EBITDA is $9,032, ,000 indicating strong operational performance.
2. Improvement in Non-GAAP Gross Margin:
o Three months ended June 30, 2024: Non-GAAP Gross Margin improved to 42.9% from GAAP Gross Margin of 41.8%.
o Six months ended June 30, 2024: Non-GAAP Gross Margin increased to 43.3% from GAAP Gross Margin of 42.6%.
3. Reduced Non-GAAP Net Loss:
o Three months ended June 30, 2024: Non-GAAP Net Loss is significantly lower at $(232,000) compared to GAAP Net Loss of $(1,639,000).
o Six months ended June 30, 2024: Non-GAAP Net Loss is $(822,000), substantially less than GAAP Net Loss of $(2,931,000).
4. Consistent Adjustments for Amortization and Stock-Based Compensation:
o Adjustments for amortization of acquired intangible assets and stock-based compensation provide a clearer picture of the company's operational performance by excluding non-cash expenses.
5. Maintained Positive EBITDA Margins:
o Despite the lower GAAP income, MariMed has maintained positive Adjusted EBITDA margins (10.8% for the three months and 11.5% for the six months ended June 30, 2024), indicating operational efficiency.
These points highlight MariMed Inc.'s operational strengths, including strong Adjusted EBITDA, improved non-GAAP gross margins, and a significantly reduced non-GAAP net loss.
Six months ended June 30: 2024
o Product revenue - retail: $45,969,000
o Product revenue - wholesale: $30,373,000
o Total product revenue: $76,342,000
o Other revenue: $2,029,000
o Total revenue: $78,371,000
Positives:
1. Strong Growth in Wholesale Revenue:
o Six months ended June 30, 2024: Wholesale revenue grew substantially by 41.9% to $30,373,000 from $21,407,000 in 2023.
2. Overall Revenue Growth:
o Six months ended June 30, 2024: Total revenue increased by 10.5% to $78,371,000 from $70,899,000 in 2023.
3. Stable Retail Revenue:
o Despite a slight decrease, retail revenue remains a significant portion of the total revenue, contributing to a balanced revenue stream.
o Six months ended June 30, 2024: Retail revenue was $45,969,000 compared to $47,519,000 in 2023, showing resilience.
4. Increase in Other Revenue:
o Six months ended June 30, 2024: Other revenue increased slightly to $2,029,000 from $1,973,000 in 2023, demonstrating growth in additional revenue streams.
These points highlight MariMed Inc.'s robust performance in increasing wholesale revenue and overall revenue growth, which are positive indicators of the company's expanding market presence and operational efficiency.
Balance Sheet Summary:
• Total Assets increased from $196.1M to $208.5M, showing overall growth.
•Current Assets grew to $53.1M from $51.4M, with significant liquidity in cash ($10.2M).
•Non-Current Assets rose to $155.5M from $144.7M, driven by investments in property, equipment, and intangibles.
•Total Liabilities increased to $120.9M from $107.2M, reflecting higher short-term and long-term obligations but manageable within the asset growth.
Stockholders’ Equity remains strong at $68.6M despite a slight decrease from $69.9M.
Positives:
1. Asset Growth: Significant increase to $208.5M.
2. Inventory Increase: Reflects higher production capacity.
3. Investment in Infrastructure: Increased property and equipment investment to $94M.
4. Intangible Assets Growth: Indicates value creation and potential acquisitions.
5. Stable Financing: Consistent mezzanine financing at $19M.
Revenue Growth:
o Q2: Up from $36.5M (2023) to $40.4M (2024).
o 6 Months: Up from $70.9M (2023) to $78.4M (2024).
Gross Profit Increase:
o Q2: Up from $16.4M to $16.9M
o 6 Months: Up from $31.8M to $33.4M
Operating Income:
o Q2: Positive at $956K despite higher operating expenses.
o 6 Months: Positive at $3M
Interest Expense Reduction:
o Q2: Down from $2.6M to $1.7M
o 6 Months: Down from $5.1M to $3.4M
Positives:
1. Revenue and Gross Profit Growth: Consistent increase in revenue and gross profit.
2. Positive Operating Income: Indicates effective cost management.
3. Reduced Interest Expenses: Lower financial costs improve net loss figures.
Statements of Cash Flows Summary:
• Positive Cash Flow from Operations: $6.4M in 2024, showing strong core operations.
• Investing in Growth: Continued investment in property, equipment, and business acquisitions.
• Effective Financing: Positive net cash from financing activities at $3M.
Positives:
1. Operational Cash Generation: Strong positive cash flow from operations.
2. Strategic Investments: Significant investments in assets and growth initiatives.
3. Effective Financing Strategy: Positive financing activities support growth.
MariMed Inc. demonstrates robust growth in assets, revenue, and operational efficiency, with strategic investments and effective financing supporting its positive trajectory.
$MRMD: Earnings 8/7/2024
MRMD: MariMed Inc. (Balance Sheet Summary)
Current Assets: Increased from $51,432,000 in 2023 to $53,054,000 in 2024, indicating a stronger short-term financial position.
Cash and Cash Equivalents: $10,192,000 (2024) compared to $14,645,000 (2023), a decrease but still maintaining significant liquidity.
Accounts Receivable, Net: Improved slightly from $7,199,000 to $7,744,000 suggesting better collection from customers.
Inventory: Increased from $25,306,000 to $31,139,000 indicating growth in production and product availability.
Non-Current Assets: Grew from $144,691,000 in 2023 to $155,480,000 in 2024, reflecting investment in long-term growth.
Property and Equipment, Net: Increased to $93,977,000 from $89,103,000 showing investment in physical assets.
Intangible Assets, Net: Increased from $17,012,000 to $20,404,000 reflecting growth in intangible value.
Goodwill: Increased from $11,993,000 to $15,812,000 indicating potential acquisitions or value addition.
Finance Lease Right-of-Use Assets: Increased from $3,295,000 to $4,151,000 suggesting expanded leasing activities.
Total Assets: Increased to $208,534,000 in 2024 from $196,123,000 in 2023, indicating overall growth.
Accounts Payable: Increased from $9,001,000 to $11,854,000 showing more operational activity.
Non-Current Liabilities: Increased slightly from $76,347,000 to $80,272,000 indicating more long-term obligations but manageable.
Positives:
1. Total Assets Growth: Significant increase in total assets from $196,123,000 to $208,534,000 reflecting overall growth.
2. Inventory Growth: Increase in inventory to $31,139,000 indicating higher production capacity.
3. Investment in Property and Equipment: Increase to $93,977,000 showing commitment to expanding physical infrastructure.
4. Intangible Assets and Goodwill: Growth in intangible assets and goodwill, suggesting value creation and potential acquisitions.
5. Increased Paid-In Capital: Increase in additional paid-in capital, reflecting investor confidence and additional equity financing.
These points indicate a positive trajectory with investments in assets and infrastructure that suggest growth and expansion potential.
Six months ended June 30:
• 2024:
o Revenue: $78,371,000
o Cost of Revenue: $44,990,000
o Gross Profit: $33,381,000
o Gross Margin: 42.6%
o Operating Expenses: $30,404,000
o Income from Operations: $2,977,000
Positives:
Revenue Growth:
Three months ended June 30: Revenue increased from $36,519,000 in 2023 to $40,438,000 in 2024.
Six months ended June 30: Revenue increased from $70,899,000 in 2023 to $78,371,000 in 2024.
Gross Profit Increase:
Three months ended June 30: Gross profit increased from $16,376,000 in 2023 to $16,909,000 in 2024.
Six months ended June 30: Gross profit increased from $31,764,000 in 2023 to $33,381,000 in 2024.
Improvement in Operating Income:
Three months ended June 30: Despite an increase in operating expenses, the company maintained positive income from operations ($956,000 in 2024).
Six months ended June 30: Income from operations was $2,977,000 in 2024, indicating effective cost management despite higher operating expenses.
Reduction in Interest Expense:
Three months ended June 30: Interest expense decreased from $2,640,000 in 2023 to $1,724,000 in 2024.
Six months ended June 30: Interest expense decreased from $5,145,000 in 2023 to $3,353,000 in 2024.
Cash Flows from Investing Activities:
• 2024:
o Purchases of property and equipment: $8,336,000
o Business acquisitions, net of cash acquired: $4,250,000
o Purchases of cannabis licenses: $623,000
o Proceeds from notes receivable: $13,000
o Net cash used in investing activities: $13,809,000
Cash Flows from Financing Activities:
• 2024:
o Proceeds from Construction to Permanent Commercial Real Estate Mortgage Loan: $2,948,000
o Proceeds from mortgages: $1,163,000
o Principal payments of finance leases: $676,000
o Distributions: $83,000
o Net cash provided by financing activities: $2,961,000
Positives:
1. Positive Cash Flow from Operating Activities:
o 2024: $6,395,000 indicating the company is generating cash from its core operations.
2. Strong Depreciation and Amortization Contributions:
o Significant amounts for depreciation and amortization ($3,946,000 and $1,183,000 in 2024) demonstrate substantial investment in assets and intangible resources.
3. Increased Cash Flow from Financing Activities:
o 2024: Positive net cash provided by financing activities ($2,961,000), showing successful financing strategies, including new mortgage loans and managing finance leases.
4. Investment in Growth:
o Continued investment in property, equipment, and business acquisitions, reflecting the company's commitment to growth and expansion.
5. Reduction in Cash Outflows from Investing Activities:
o Despite significant outflows, the company is strategically investing in key areas such as property, equipment, and licenses.
These points indicate that MariMed Inc. is focusing on operational efficiency, strategic investments, and effective financing to support its growth trajectory.
Positives:
1. Positive Adjusted EBITDA:
o Three months ended June 30, 2024: Adjusted EBITDA is $4,371, ,000 showing positive earnings before interest, taxes, depreciation, and amortization adjustments.
o Six months ended June 30, 2024: Adjusted EBITDA is $9,032, ,000 indicating strong operational performance.
2. Improvement in Non-GAAP Gross Margin:
o Three months ended June 30, 2024: Non-GAAP Gross Margin improved to 42.9% from GAAP Gross Margin of 41.8%.
o Six months ended June 30, 2024: Non-GAAP Gross Margin increased to 43.3% from GAAP Gross Margin of 42.6%.
3. Reduced Non-GAAP Net Loss:
o Three months ended June 30, 2024: Non-GAAP Net Loss is significantly lower at $(232,000) compared to GAAP Net Loss of $(1,639,000).
o Six months ended June 30, 2024: Non-GAAP Net Loss is $(822,000), substantially less than GAAP Net Loss of $(2,931,000).
4. Consistent Adjustments for Amortization and Stock-Based Compensation:
o Adjustments for amortization of acquired intangible assets and stock-based compensation provide a clearer picture of the company's operational performance by excluding non-cash expenses.
5. Maintained Positive EBITDA Margins:
o Despite the lower GAAP income, MariMed has maintained positive Adjusted EBITDA margins (10.8% for the three months and 11.5% for the six months ended June 30, 2024), indicating operational efficiency.
These points highlight MariMed Inc.'s operational strengths, including strong Adjusted EBITDA, improved non-GAAP gross margins, and a significantly reduced non-GAAP net loss.
Six months ended June 30: 2024
o Product revenue - retail: $45,969,000
o Product revenue - wholesale: $30,373,000
o Total product revenue: $76,342,000
o Other revenue: $2,029,000
o Total revenue: $78,371,000
Positives:
1. Strong Growth in Wholesale Revenue:
o Six months ended June 30, 2024: Wholesale revenue grew substantially by 41.9% to $30,373,000 from $21,407,000 in 2023.
2. Overall Revenue Growth:
o Six months ended June 30, 2024: Total revenue increased by 10.5% to $78,371,000 from $70,899,000 in 2023.
3. Stable Retail Revenue:
o Despite a slight decrease, retail revenue remains a significant portion of the total revenue, contributing to a balanced revenue stream.
o Six months ended June 30, 2024: Retail revenue was $45,969,000 compared to $47,519,000 in 2023, showing resilience.
4. Increase in Other Revenue:
o Six months ended June 30, 2024: Other revenue increased slightly to $2,029,000 from $1,973,000 in 2023, demonstrating growth in additional revenue streams.
These points highlight MariMed Inc.'s robust performance in increasing wholesale revenue and overall revenue growth, which are positive indicators of the company's expanding market presence and operational efficiency.
Balance Sheet Summary:
• Total Assets increased from $196.1M to $208.5M, showing overall growth.
•Current Assets grew to $53.1M from $51.4M, with significant liquidity in cash ($10.2M).
•Non-Current Assets rose to $155.5M from $144.7M, driven by investments in property, equipment, and intangibles.
•Total Liabilities increased to $120.9M from $107.2M, reflecting higher short-term and long-term obligations but manageable within the asset growth.
Stockholders’ Equity remains strong at $68.6M despite a slight decrease from $69.9M.
Positives:
1. Asset Growth: Significant increase to $208.5M.
2. Inventory Increase: Reflects higher production capacity.
3. Investment in Infrastructure: Increased property and equipment investment to $94M.
4. Intangible Assets Growth: Indicates value creation and potential acquisitions.
5. Stable Financing: Consistent mezzanine financing at $19M.
Revenue Growth:
o Q2: Up from $36.5M (2023) to $40.4M (2024).
o 6 Months: Up from $70.9M (2023) to $78.4M (2024).
Gross Profit Increase:
o Q2: Up from $16.4M to $16.9M
o 6 Months: Up from $31.8M to $33.4M
Operating Income:
o Q2: Positive at $956K despite higher operating expenses.
o 6 Months: Positive at $3M
Interest Expense Reduction:
o Q2: Down from $2.6M to $1.7M
o 6 Months: Down from $5.1M to $3.4M
Positives:
1. Revenue and Gross Profit Growth: Consistent increase in revenue and gross profit.
2. Positive Operating Income: Indicates effective cost management.
3. Reduced Interest Expenses: Lower financial costs improve net loss figures.
Statements of Cash Flows Summary:
• Positive Cash Flow from Operations: $6.4M in 2024, showing strong core operations.
• Investing in Growth: Continued investment in property, equipment, and business acquisitions.
• Effective Financing: Positive net cash from financing activities at $3M.
Positives:
1. Operational Cash Generation: Strong positive cash flow from operations.
2. Strategic Investments: Significant investments in assets and growth initiatives.
3. Effective Financing Strategy: Positive financing activities support growth.
MariMed Inc. demonstrates robust growth in assets, revenue, and operational efficiency, with strategic investments and effective financing supporting its positive trajectory.
$MRMD: Earnings 8/7/2024
MRMD: MariMed Inc. (Balance Sheet Summary)
Current Assets: Increased from $51,432,000 in 2023 to $53,054,000 in 2024, indicating a stronger short-term financial position.
Cash and Cash Equivalents: $10,192,000 (2024) compared to $14,645,000 (2023), a decrease but still maintaining significant liquidity.
Accounts Receivable, Net: Improved slightly from $7,199,000 to $7,744,000 suggesting better collection from customers.
Inventory: Increased from $25,306,000 to $31,139,000 indicating growth in production and product availability.
Non-Current Assets: Grew from $144,691,000 in 2023 to $155,480,000 in 2024, reflecting investment in long-term growth.
Property and Equipment, Net: Increased to $93,977,000 from $89,103,000 showing investment in physical assets.
Intangible Assets, Net: Increased from $17,012,000 to $20,404,000 reflecting growth in intangible value.
Goodwill: Increased from $11,993,000 to $15,812,000 indicating potential acquisitions or value addition.
Finance Lease Right-of-Use Assets: Increased from $3,295,000 to $4,151,000 suggesting expanded leasing activities.
Total Assets: Increased to $208,534,000 in 2024 from $196,123,000 in 2023, indicating overall growth.
Liabilities:
Current Liabilities: Increased from $30,862,000 to $40,659,000 reflecting higher short-term obligations.
Accounts Payable: Increased from $9,001,000 to $11,854,000 showing more operational activity.
Non-Current Liabilities: Increased slightly from $76,347,000 to $80,272,000 indicating more long-term obligations but manageable.
Total Liabilities: Increased from $107,209,000 to $120,931,000 reflecting growth in financial obligations alongside asset growth.
Total Stockholders’ Equity: Decreased slightly from $69,914,000 to $68,603,000 but still strong, showing continued investment in the company.
Positives:
1. Total Assets Growth: Significant increase in total assets from $196,123,000 to $208,534,000 reflecting overall growth.
2. Inventory Growth: Increase in inventory to $31,139,000 indicating higher production capacity.
3. Investment in Property and Equipment: Increase to $93,977,000 showing commitment to expanding physical infrastructure.
4. Intangible Assets and Goodwill: Growth in intangible assets and goodwill, suggesting value creation and potential acquisitions.
5. Increased Paid-In Capital: Increase in additional paid-in capital, reflecting investor confidence and additional equity financing.
These points indicate a positive trajectory with investments in assets and infrastructure that suggest growth and expansion potential.
Six months ended June 30:
• 2024:
o Revenue: $78,371,000
o Cost of Revenue: $44,990,000
o Gross Profit: $33,381,000
o Gross Margin: 42.6%
o Operating Expenses: $30,404,000
o Income from Operations: $2,977,000
Positives:
Revenue Growth:
Three months ended June 30: Revenue increased from $36,519,000 in 2023 to $40,438,000 in 2024.
Six months ended June 30: Revenue increased from $70,899,000 in 2023 to $78,371,000 in 2024.
Gross Profit Increase:
Three months ended June 30: Gross profit increased from $16,376,000 in 2023 to $16,909,000 in 2024.
Six months ended June 30: Gross profit increased from $31,764,000 in 2023 to $33,381,000 in 2024.
Improvement in Operating Income:
Three months ended June 30: Despite an increase in operating expenses, the company maintained positive income from operations ($956,000 in 2024).
Six months ended June 30: Income from operations was $2,977,000 in 2024, indicating effective cost management despite higher operating expenses.
Reduction in Interest Expense:
Three months ended June 30: Interest expense decreased from $2,640,000 in 2023 to $1,724,000 in 2024.
Six months ended June 30: Interest expense decreased from $5,145,000 in 2023 to $3,353,000 in 2024.
Stable Net Loss Per Share:
Cash Flows from Investing Activities:
• 2024:
o Purchases of property and equipment: $8,336,000
o Business acquisitions, net of cash acquired: $4,250,000
o Purchases of cannabis licenses: $623,000
o Proceeds from notes receivable: $13,000
o Net cash used in investing activities: $13,809,000
Cash Flows from Financing Activities:
• 2024:
o Proceeds from Construction to Permanent Commercial Real Estate Mortgage Loan: $2,948,000
o Proceeds from mortgages: $1,163,000
o Principal payments of finance leases: $676,000
o Distributions: $83,000
o Net cash provided by financing activities: $2,961,000
Positives:
1. Positive Cash Flow from Operating Activities:
o 2024: $6,395,000 indicating the company is generating cash from its core operations.
2. Strong Depreciation and Amortization Contributions:
o Significant amounts for depreciation and amortization ($3,946,000 and $1,183,000 in 2024) demonstrate substantial investment in assets and intangible resources.
3. Increased Cash Flow from Financing Activities:
o 2024: Positive net cash provided by financing activities ($2,961,000), showing successful financing strategies, including new mortgage loans and managing finance leases.
4. Investment in Growth:
o Continued investment in property, equipment, and business acquisitions, reflecting the company's commitment to growth and expansion.
5. Reduction in Cash Outflows from Investing Activities:
o Despite significant outflows, the company is strategically investing in key areas such as property, equipment, and licenses.
These points indicate that MariMed Inc. is focusing on operational efficiency, strategic investments, and effective financing to support its growth trajectory.
Positives:
1. Positive Adjusted EBITDA:
o Three months ended June 30, 2024: Adjusted EBITDA is $4,371, ,000 showing positive earnings before interest, taxes, depreciation, and amortization adjustments.
o Six months ended June 30, 2024: Adjusted EBITDA is $9,032, ,000 indicating strong operational performance.
2. Improvement in Non-GAAP Gross Margin:
o Three months ended June 30, 2024: Non-GAAP Gross Margin improved to 42.9% from GAAP Gross Margin of 41.8%.
o Six months ended June 30, 2024: Non-GAAP Gross Margin increased to 43.3% from GAAP Gross Margin of 42.6%.
3. Reduced Non-GAAP Net Loss:
o Three months ended June 30, 2024: Non-GAAP Net Loss is significantly lower at $(232,000) compared to GAAP Net Loss of $(1,639,000).
o Six months ended June 30, 2024: Non-GAAP Net Loss is $(822,000), substantially less than GAAP Net Loss of $(2,931,000).
4. Consistent Adjustments for Amortization and Stock-Based Compensation:
o Adjustments for amortization of acquired intangible assets and stock-based compensation provide a clearer picture of the company's operational performance by excluding non-cash expenses.
5. Maintained Positive EBITDA Margins:
o Despite the lower GAAP income, MariMed has maintained positive Adjusted EBITDA margins (10.8% for the three months and 11.5% for the six months ended June 30, 2024), indicating operational efficiency.
These points highlight MariMed Inc.'s operational strengths, including strong Adjusted EBITDA, improved non-GAAP gross margins, and a significantly reduced non-GAAP net loss.
• 2024:
o Product revenue - retail: $23,623,000
o Product revenue - wholesale: $15,868,000
o Total product revenue: $39,491,000
o Other revenue: $947,000
o Total revenue: $40,438,000
Six months ended June 30:
• 2024:
o Product revenue - retail: $45,969,000
o Product revenue - wholesale: $30,373,000
o Total product revenue: $76,342,000
o Other revenue: $2,029,000
o Total revenue: $78,371,000
Positives:
1. Strong Growth in Wholesale Revenue:
o Six months ended June 30, 2024: Wholesale revenue grew substantially by 41.9% to $30,373,000 from $21,407,000 in 2023.
2. Overall Revenue Growth:
o Six months ended June 30, 2024: Total revenue increased by 10.5% to $78,371,000 from $70,899,000 in 2023.
3. Stable Retail Revenue:
o Despite a slight decrease, retail revenue remains a significant portion of the total revenue, contributing to a balanced revenue stream.
o Six months ended June 30, 2024: Retail revenue was $45,969,000 compared to $47,519,000 in 2023, showing resilience.
4. Increase in Other Revenue:
o Six months ended June 30, 2024: Other revenue increased slightly to $2,029,000 from $1,973,000 in 2023, demonstrating growth in additional revenue streams.
These points highlight MariMed Inc.'s robust performance in increasing wholesale revenue and overall revenue growth, which are positive indicators of the company's expanding market presence and operational efficiency.
Balance Sheet Summary:
• Total Assets increased from $196.1M to $208.5M, showing overall growth.
•Current Assets grew to $53.1M from $51.4M, with significant liquidity in cash ($10.2M).
•Non-Current Assets rose to $155.5M from $144.7M, driven by investments in property, equipment, and intangibles.
•Total Liabilities increased to $120.9M from $107.2M, reflecting higher short-term and long-term obligations but manageable within the asset growth.
Stockholders’ Equity remains strong at $68.6M despite a slight decrease from $69.9M.
Positives:
1. Asset Growth: Significant increase to $208.5M.
2. Inventory Increase: Reflects higher production capacity.
3. Investment in Infrastructure: Increased property and equipment investment to $94M.
4. Intangible Assets Growth: Indicates value creation and potential acquisitions.
5. Stable Financing: Consistent mezzanine financing at $19M.
• Revenue Growth:
o Q2: Up from $36.5M (2023) to $40.4M (2024).
o 6 Months: Up from $70.9M (2023) to $78.4M (2024).
• Gross Profit Increase:
o Q2: Up from $16.4M to $16.9M
o 6 Months: Up from $31.8M to $33.4M
• Operating Income:
o Q2: Positive at $956K despite higher operating expenses.
o 6 Months: Positive at $3M
• Interest Expense Reduction:
o Q2: Down from $2.6M to $1.7M
o 6 Months: Down from $5.1M to $3.4M
Positives:
1. Revenue and Gross Profit Growth: Consistent increase in revenue and gross profit.
2. Positive Operating Income: Indicates effective cost management.
3. Reduced Interest Expenses: Lower financial costs improve net loss figures.
Statements of Cash Flows Summary:
• Positive Cash Flow from Operations: $6.4M in 2024, showing strong core operations.
• Investing in Growth: Continued investment in property, equipment, and business acquisitions.
• Effective Financing: Positive net cash from financing activities at $3M.
Positives:
1. Operational Cash Generation: Strong positive cash flow from operations.
2. Strategic Investments: Significant investments in assets and growth initiatives.
3. Effective Financing Strategy: Positive financing activities support growth.
MariMed Inc. demonstrates robust growth in assets, revenue, and operational efficiency, with strategic investments and effective financing supporting its positive trajectory.
Marimed.inc
$V $AUR $MRMD
Pathway to Medical Cannabis: Prohibition to Prescription...
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$AXP $V $MRMD $SLDP $IONQ
Pathway to Medical Cannabis: Prohibition to Prescription...
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$SPY $RKLB $MRMD $GOOGL
$AXP $BAC $MRMD $PSLV $V $CCOEY
The DEA could remove cannabis from the list of schedule-1 drugs so that the FDA can study it for medical purposes and insurance companies can help patients by reducing the overall cost of medical cannabis through the use of a co-pay similar to picking up a prescription at a pharmacy.
Pathway to Medical Cannabis: Prohibition to Prescription
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
Sublingual Tincture: THC + CBD + Coconut Oil
Components:
• THC: Euphoric, pain relief, relaxation.
• CBD: Non-intoxicating, reduces anxiety, inflammation, breaks down tumors and cysts.
• Coconut Oil: Carrier oil, enhances absorption, contains monolaurin (antimicrobial, helps bypass the blood-brain barrier).
Extraction Process:
Decarboxylate:
1. Preheat oven to 220°F.
2. Bake ground cannabis for 30 minutes.
• This process converts THCa and CBDa into THC and CBD, making them absorbable through the digestive system. Unlike smoking, which heats cannabinoids and allows them to enter the bloodstream via the lung capillaries, baking prepares them for ingestion.
• This process is crucial for medical applications, such as creating pills or making the cannabinoids available for use in pharmacies and hospitals.
Infuse:
1. Combine decarboxylated cannabis with coconut oil.
2. Heat on low for 2-3 hours, stirring occasionally. Strain through cheesecloth.
Sublingual Administration:
1. Place drops under tongue, hold for 30-60 seconds. (Onset time is 15-45 minutes with effects lasting 4-6 hours)
Benefits: High bioavailability for fast absorption directly to the bloodstream. Controlled dosage that is easy to adjust.
Usage: Start with 1-2 drops and increase as needed. Store in a cool, dark place.
Summary: A simple, effective way to deliver cannabinoids with quick onset and controlled dosage. Perfect for those seeking therapeutic benefits without the delay of digestion.
$GOOGL $MRMD $BCS $GELYF $JEPI
Pathway to Medical Cannabis: Prohibition to Prescription...
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$MRMD $CXAI $SOFI $V $XOM
Pathway to Medical Cannabis: Prohibition to Prescription...
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$BTC $ETH $XRP $MRMD $XRM
$VZIO $MRMD $GOOGL $PARA
$VMEO $MRMD $BCS $GOOGL $YETI
Sublingual Tincture: THC + CBD + Coconut Oil
Components:
• THC: Euphoric, pain relief, relaxation.
• CBD: Non-intoxicating, reduces anxiety, inflammation, breaks down tumors and cysts.
• Coconut Oil: Carrier oil, enhances absorption, contains monolaurin (antimicrobial, helps bypass the blood-brain barrier).
Extraction Process:
Decarboxylate:
1. Preheat oven to 220°F.
2. Bake ground cannabis for 30 minutes.
(This process converts THCa and CBDa into THC and CBD, making them absorbable through the digestive system. Unlike smoking, which heats cannabinoids and allows them to enter the bloodstream via the lung capillaries, baking prepares them for ingestion. This process is crucial for medical applications, such as creating pills or making the cannabinoids available for use in pharmacies and hospitals).
Infuse:
1. Combine decarboxylated cannabis with coconut oil.
2. Heat on low for 2-3 hours, stirring occasionally. Strain through cheesecloth.
Sublingual Administration:
1.Place drops under tongue, hold for 30-60 seconds.
(Onset time is 15-45 minutes with effects lasting 4-6 hours)
Benefits: High bioavailability for fast absorption directly to the bloodstream. Controlled dosage that is easy to adjust.
Usage: Start with 1-2 drops and increase as needed. Store in a cool, dark place.
Summary: A simple, effective way to deliver cannabinoids with quick onset and controlled dosage. Perfect for those seeking therapeutic benefits without the delay of digestion.
Pathway to Medical Cannabis: Prohibition to Prescription...
1. DEA removes cannabis from Schedule 1.
2. FDA studies cannabis for medical use.
3. Hospitals and pharmacies administer medical cannabis.
4. Insurance companies cover co-pays for patients.
5. Licensed medical cannabis companies sell to hospitals and pharmacies.
6. Shareholders benefit from medical cannabis stocks.
7. Dividends are administered.
$MRMD:12,450 shares long.
The potential reclassification of cannabis by the DEA, removing it from the schedule-1 drugs list, could significantly impact both medical research and patient access. By allowing the FDA to thoroughly study cannabis for its medical applications, we could see more evidence-based treatments emerge. Additionally, this change could pave the way for insurance companies to include medical cannabis in their coverage, potentially reducing costs for patients through co-pay systems akin to those used for traditional prescription medications. This shift could make medical cannabis more accessible and affordable for those who need it.
The DEA might reclassify cannabis, removing it from the list of schedule-1 drugs. This would enable the FDA to conduct medical research, and allow insurance companies to assist patients by lowering the overall cost of medical cannabis. This could be achieved through a co-pay system similar to what is used for prescription medications at pharmacies.
The DEA could remove cannabis from the list of schedule-1 drugs so that the FDA can study it for medical purposes and insurance companies can help patients by reducing the overall cost of medical cannabis through the use of a co-pay similar to picking up a prescription at a pharmacy.
The DEA might reclassify cannabis, removing it from the list of schedule-1 drugs. This would enable the FDA to conduct medical research, and allow insurance companies to assist patients by lowering the overall cost of medical cannabis. This could be achieved through a co-pay system similar to what is used for prescription medications at pharmacies.
$MSOS $MRMD
If the DEA reclassifies cannabis and takes it off the schedule-1 drugs list, the FDA could study it for medical uses. This would also allow insurance companies to help patients reduce the cost of medical cannabis, using a co-pay system like the one for pharmacy prescriptions.
$MSOS $MRMD
The potential reclassification of cannabis by the DEA, removing it from the schedule-1 drugs list, could significantly impact both medical research and patient access. By allowing the FDA to thoroughly study cannabis for its medical applications, we could see more evidence-based treatments emerge. Additionally, this change could pave the way for insurance companies to include medical cannabis in their coverage, potentially reducing costs for patients through co-pay systems akin to those used for traditional prescription medications. This shift could make medical cannabis more accessible and affordable for those who need it.
$MSOS $MRMD
$MRMD The DEA could remove cannabis from the list of schedule-1 drugs so that the FDA can study it for medical purposes and insurance companies can help patients by reducing the overall cost of medical cannabis through the use of a co-pay similar to picking up a prescription at a pharmacy.
Medical Cannabis Ice-cream:
https://www.bettyseddies.com/categories/ice-cream
$MRMD: The DEA could remove cannabis from the list of schedule-1 drugs so that the FDA can study it for medical purposes and insurance companies can help patients by reducing the overall cost of medical cannabis through the use of a co-pay similar to picking up a prescription at a pharmacy.
$MRMD - Cannabis Icecream
https://www.bettyseddies.com/categories/ice-cream
https://www.youtube.com/shorts/KsYYrvMNybc
$MRMD - Cannabis Icecream
https://www.bettyseddies.com/categories/ice-cream
https://www.youtube.com/shorts/KsYYrvMNybc
$INTC $MRMD $GOOGL $V $MA $MSFT
$UNP $UPS $VRSK $WWD
$PG $MRMD $SYY $WBA $WMT
$PNC $MRMD $PGR $PLD $PSA
$NKE $MRMD $ORLY $ROST $SBUX
Bearish Implications:
Economic Outlook: The uncertainty in building reports and the flat retail sales growth points to potential weaknesses in the economy. This can result in cautious investor behavior and potential declines in market indices.
Market Sentiment: The unknown actual data for building reports adds to market uncertainty, potentially increasing volatility. The flat retail sales growth does not significantly boost sentiment.
Policy Implications: Policymakers might consider economic stimulus measures to address potential weaknesses and uncertainty in the construction sector and to boost consumer confidence.
https://tradingeconomics.com/calendar
"Yellow 6" caused adrenal tumors in animals, though that is disputed by industry and the FDA. It may be contaminated with cancer-causing chemicals and occasionally causes severe hypersensitivity reactions. Minute Maid lemonade by Coca-Cola in the US contains the artificial food dye Yellow 5.