Category: Dispensaries
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Shell Game: How Wayland Group (WAYL.C) built a paper empire and the loan that may drag it under
PROLOGUE: Cannabis companies, as we know them in our minds, rarely exist. Oh sure, some have buildings and staff, some grow things and others might even have a license. But even those with big buildouts and massive market caps are, for the most part, a promise of what’s to come, maybe, some time, kinda. But…
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![MedMen (MMEN.C) Q3, 2019 revenues and a devastating Rolling Stone article]()
MedMen (MMEN.C) Q3, 2019 revenues and a devastating Rolling Stone article
It’s true: we do enjoy kicking MedMen (MMEN.C) around. Why do we dislike this grotesquely unprofitable company so intensely? Because Adam Bierman (CEO) and Andrew Modlin (President) are greedy. Not – “I-fly-1st-class-and-pay-my-workers-minimum-wage” greedy. Not – “I-cheat-on-my-taxes” greedy. Not – “I’m-unloading-cheap-paper-through-a-numbered-company” greedy. Crazy, almost psychopathically greedy. We dislike them for the same reason we dislike Namaste’s…
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Wildflower Brands (SUN.C) fires stock out of a cannon to be first movers in BC dispensary scene
You’ve got to hand it to Wildflower Brands (SUN.C) boss William Maclean, he’s a sucker for an opportunity. Back in the day, Wildflower’s origin story was they were going to grow weed on Vancouver Island. But the residents went all NIMBY, so he looked to Washington State. Then he locked in on vapes, then CBDs,…
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Cresco Labs’ (CL.C) no-premium acquisition offer of Origin House (OH.C) is… alright
This morning, Chicago-based Cresco Labs (CL.C) announced it would be acquiring Origin House (OH.C) (formerly CannaRoyalty) in an all-stock deal worth CAN$1.1 billion. The offer comes in at CAN$12.68 per Origin House share. Origin House closed Friday at $12.05, which leaves the premium on the deal being less than amazing. In fact, the stock has…
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Cannabis Life Sciences (CSE:CLSH.U): The US multi state operator value pick
I love it when the market is busy fighting over inflated market caps, because I’m a Moneyball guy. I like value, and while a lot of money has moved toward Canadian cannabis operators in recent years, the size of the market down south is only now starting to become clear. There’s still some value floating…
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![Westleaf (WL.V) cannabis concept is music to the ears]()
Westleaf (WL.V) cannabis concept is music to the ears
In his influential 1949 book: The Organization of Behavior, Canadian psychologist Donald Hebb theorized that “one thought is more likely to trigger another thought” if those two thoughts are linked together multiple times in the past. This concept has been employed to good effect in the world of branding. When a Bronx, NY ice-cream manufacturer…
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iAnthus (IAN.C) in pole position as New Jersey green-lights legal rec weed
On March 12, 2019 New Jersey legislators joined Democratic Governor Phil Murphy to announce a bill legalising adult-use marijuana in the Garden State. Murphy spent 23 years clawing his way up the corporate ladder at Goldman Sachs (GS.NYSE), eventually becoming global co-head of the $370 billion Investment Management Division. The legislation permits municipalities to collect…
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![Westleaf (WL.V) brings prairie focus, first nations connections, novel ideas]()
Westleaf (WL.V) brings prairie focus, first nations connections, novel ideas
I first heard about the Prairie Records cannabis retail business model mid last year. And my first thought upon seeing it was, this will never be allowed. Basically, instead of keeping everything behind glass and having consumers guess as to what weed they’re looking at and what it will do, Westleaf’s retail model is to…
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Dispensing dispensary wisdom: Solo Growth (SOLO.V) plays the long game
In early 2018, Aurora Cannabis (ACB.T) made one of their most interesting asset acquisitions to date, when it bought into the Liquor Stores N.A. chain, snaring 19.9% for $103.5 million. It was the sort of balls out deal Aurora is famous – or infamous, depending on your viewpoint – for, bursting out into a new…
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SLANG Worldwide (SLNG.C): I have seen the future of cannabis, and this is it
That’s a pretty salesy headline, huh? I mean, I couldn’t have given a higher five to a company in an ultra competitive space with billions in valuations flying around the world than to say, ‘this is the future.’ What I’m suggesting is, one company is on the ultra right path, and not many others are.…
