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Also USDA and EPA were there with some fascinating stats and facts about hemp as a commercial crop from their perspectives.
Well we knew FDA was cautious and there was lot of talk about 2020 for regulations. @kristenwnichols from Hemp Industry Daily on Twitter has a great and concise thread from today. Makes me hope for interim rules soon and revisions when the full slate of review is ready.
The FDA hearing in Senate sounded like dragging guidelines out for longer than we would like. Curious to see how this affects us vs upcoming catalysts.
I may be quite happy with the 8.90s range shares I got this week. Go TRUL
Agreed. No CEO is putting pressure on us as well. No vision, leadership, confidence. I’m glad they are executing and hope the numbers show that. That should attract a top CEO - or sale. $3/share would be nice.
Agreed - I think Safe Banking Act is the key to NASD
I think SAFE banking hearing today will be a help to the whole industry. And more legislation moving through on broad decriminalization of all MJ. Plus aggressive work towards getting CBD legal. This train is picking up speed but you have to look down the track a bit to see the power of what’s happening.
I was thinking about the CW letter as well. I hope the hearings this afternoon and this week on MJ and Safe Banking make for a snap back in the sector and make me happy for buying some more $3.94s :)
Dietary supplement section in Curaleaf letter is important. I think this the current FDA (is CBD is a drug not dietary supplement) stance because of Epidolex. But we are waiting on the FDA (possible / probable?) change of rules after public input and/or waiting on legislative changes to force them to change. In the mean time I think we could see other letters like this.
Or maybe they are just going after the health claims on cancer and feel like they have to include their current statement in dietary as well for now. I hope this is the case.
In US News article Spatafora cites July 25 as unlock day and to buy after that. His comment of $200 mil worth of shares would imply 20mil shares coming to the market. Could be the downward pressure this week. Our avg volume the last 10 is 171k and around 200k for 2019.
With these financials it ‘feels’ like time to get TRUL at a discount - Snaps nice financial estimates have been using all shares not just the float.
Lets make it 18.6. Is that free?
Patent is great news - thanks for posting SL
SpaceLady - thanks for this. 18.3 mil for me.
Old lawsuit dismissed - nice. Now get rid of the recent one!
Fantastic move. This was under 11 a few days ago. then again, it was over 24 three months ago. Lets get back there...
I think SAFE banking Act may also be important in allowing CBD pure plays and maybe medical MJ MSOs to uplift in US.
Wolf - we had many lengthy discussions re NASD requirements in August and Sept on this board. Check those out.
No It’s not true. I read it as well and doesn’t make sense. Maybe soon. Who knows.
I saw the note on Yahoo and amplified on the CVSI FB page. I also remember a side comment from Fast Money CNBC Tim Seymour who said “a few CBD companies would be uplifting this summer.” I will remain patient since I have been waiting for 10 months now. I don’t believe it but would be happy with a release from NASD on Monday giving our symbol and trading date. Would be my favorite fireworks next week.
I would love for Trulieve to buy CVSI - both profitable companies. Top CBD brand in sales by SPINS data.
what a difference a week makes... We need some legislation to pass to start to turn the sentiment here and fade FDA.
Thanks AP - I guess a month for review and ruling may be sufficient?
Latest on the Lawsuit? Shouldn't we dismiss and ignite soon?
What will confirm that the SP has broken free of this resistance in the 15s? Over 15.50 now. In the midst of this downdraft this moved to trade on TSX as well - might that give some added volume/mo in this direction?
Is anyone able to attend? I would love to but am in the northeast.
Agreed - getting past the drop after the offering seems very significant. Will be interesting to see if the path from here to 16s... Would love to see it roll past that, but I don't see it before more news from FDA or Congress late summer.
def bkk again. what a joke.
I'm hoping it climbs to $15, but that drop after the offering (around $15, high $14's? ) will be tough to overcome. Will be exciting when it breaks through that this summer.
Yes, but: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5608708/ CBD helping liver function in this. So there is a lot to discover here.
thinking of jumping in early if down to play disappointment and confusion from Fed today. Thoughts?
This was great to see. Who else is doing this kind of proactive research (including our GRAS study) and publishing it in the CBD space? Well done. Bodes well for 007...
Rough day for CURLF - may get back to CVS gap in 6.80s
Anyone with thoughts on if VREOF can make through the big decline in MJ MSOs? Do they have enough cash to keep expanding, increase revenue, or will they have to make an offering that will dilute down from here? Does this have takeout potential?
I think this offering will be used well and beneficial in the end, esp with the profitability track TCNNF is on. (FWIW I am in CWBHF and they recently had a bigger offering at $14 when the price was in $18 and it crushed confidence at the worst time. Now ready to break down through $12 over there.) I am certainly buying in the 9's here if TCNNF gets there.
Super: clearly the PR will not hold up any CBD SP for now, esp in the downdraft of the whole sector. But its a great indicator of the upward rate of change when we see 3mos, 6mos from now in the next few quarterly and then 19 annual numbers. I'm looking forward to that. Now let's see Target share PR on CBD too...
The gap was the CVS distribution announcement. Curious with Kroger announcing CBD with CVSI yesterday, will be interesting to see if CURLF is there and PRs it as well.
Agreed - first major chain announcement after he FDA hearings; that's good change in tone after last two weeks of sleepy declines.
pardon my french, but this is a nice f*in pop. Yay CVSI longs!
Wow thanks Sleuth. That is a powerful statement.