There was a run up in the weeks leading up to legalization for most of the MJ companies, but unfortunately that is not what I am talking about, I am talking about what the prices were like a year ago.
On the TSX, a year ago:
CRON was trading between $9 and $13 CAD...it is now trading between $27 and $30 CAD (Up)
CGC was trading between $35 and $40 CAD...it is now trading around $60 CAD (Up)
HEXO was trading between $3.50 and $4.00 CAD...it is now trading around $7.50 CAD (Up)
ACB was trading between $12 - $15 CAD...it is now trading trading between $8 - $10 CAD (DOWN BIG TIME). Nice going ACB!
I am talking about a year ago here, but most of these companies (except for ACB) have returned to close to their highs (or better).
I find it highly unlikely that ACB will be profitable next quarter. For the latest quarter, they had $54 million in net revenue (sales). And they posted a $240 million loss, of which $190 million was attributed to write-downs (which i expect to see in the future as well). So excluding the write down, they posted a $50 million dollar loss on $54 million in revenue. That's a pretty big hole they are going to have to climb out of to be profitable.
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