Now do the same for your favorites. TCNNF appears to do well because margin compression has not hit FL. VRNOF has negative working capital. Yes, SHWZ had a quarter below expectations. Your other big MSO’s are faking it. Whenever a new state opens up for rec, all of them jump in there. Imagine how much profit margin erosion will happen in NY, NJ etc.
Dye is going all in in CO and NM. They are increasing their footprint one zipcode at a time. That’s the only way to increase margins in this semi legal business. That and having your own grow, distillate and slowly your own products.