Mike Tyson will be joining our lineup in our Cannabis Event. Use the LANE30 code to get your 30% off of tickets discount today!
Happy St.Patrick's Day!
Welcome to Cannabis Daily - Your daily guide to cannabis news, industry trends, and trade ideas in under 5 mins.
Episode Summary:
Jushi Holdings (OTCQX: JUSHF) completes an acquisition of a Las Vegas dispensary. This establishes their fourth state with vertical integration.obviously a ton of room for growth, a ton of potential
Valens Co(NASDAQ: VLNS) reports 3.1% total market share in the Canadian cannabis market. Valens, I think starting to get some positive momentum here
OrganiGram Holdings(NASDAQ: OGI) pledges 1% of their employees' time to local volunteer programs.
Ayr Wellness(OTCQX: AYRWF) announces Q4 and fiscal year 2021 results. Their Q4 revenue was $111.8 million. That is up 16% sequentially from Q3. Q4 adjusted EBITDA was 26.1 million. For the entire year of 2021, They brought in $357.5 million dollars in revenue, $98 million in adjusted EBITDA. They added 62 dispensaries, 8 cultivation facilities, and 1600 employees in the year 2021.
Item 9 Labs(OTCQX: INLB) to acquire the Herbal Cure in Denver, Colorado.
Verano Holdings (OTCQX: VRNOF) is opening its first West Virginia Zen Leaf dispensary.
Piper Sandler remains neutral on Tilray Brands(NASDAQ: TLRY) but did lower their price target to $6. Another note coming today's saying Tilray is not a buy until they can prove sustainability
Cantor Fitzgerald keeps a buy rating with Innovative Industrial (NYSE: IIPR) and maintains an overweight rating on TerrAscend(OTCQX: TRSSF) and raises the price target on it to $7.90.TerrAscend continues to have a very bullish week.
My Winners For The Day:
- Jushi Holdings (OTCQX: JUSHF)
- Ayr Wellness(OTCQX: AYRWF)
- Valens Co(NASDAQ: VLNS)
- TerrAscend(OTCQX: TRSSF)
- NewLake Capital Partners (OTCQX: NLCP)
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Elliot Lane
Aaron Thomas
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NOT FINANCIAL ADVICE
Good morning, my friends welcome to another episode of cannabis daily. This is your host Elliot lane with Aaron Thomas running the show behind the scenes as he always does.
And Asli for making this happen on all of our podcasting platforms, apple, Spotify. Benzinga.com/podcasts, wherever you want to find us. This is your daily dose of cannabis, news, and insights on what's going on and where you can put your money to hopefully make some more money. All right. Let's dive right in tons of news today.
We haven't really seen much news this week and then all of a sudden, everybody goes, yeah. Thursday St. Patrick's day let's drop it. Also happy St. Patrick's day. Everybody hope you're wearing green today. Jewishy J U S H F on the OTC completes an acquisition of loss of a Las Vegas dispensary. This establishes their fourth state with vertical integration.
They also have another Nevada based acquisition of NewLeaf, which is expected to close in early. Uh, in the early parts of the second quarter of this year, as it continued to grow strategically in the state juicy one of the fastest growing MSOE steer, still I think a, a solid tier two, um, option there, but obviously a ton of room for growth, a ton of potential.
And I love their executive team. So keep an eye on J U S. AF valance V L N S reports 3.1% total market share in the Canadian cannabis market. I don't care what market you're in. 3.1% is respectable. November, 2021 market share. It was two and a half percent. So obviously moving in the right direction there.
Um, some more product centric rankings they're ranked fourth in the beverage market with 11.2% very strong there they ranked ninth in flour with three and a half percent. Eighth in edibles with 3.2%. So Valens, I think starting to get some positive momentum here, uh, very excited for the direction they are taking organic gram OGI on the NASDAQ, joins the pledge 1% movement.
Organic gram will be pledging 1% of their employees, time to local volunteer programs, part of the overall organic gram operating for good social impact strategy. I love the focus on giving back to the community, I think incredibly necessary. And I think younger investors especially want to see ESG and social impact initiatives.
From companies nowadays, it is interesting to me, I'm curious if the employees are being paid for this 1% or, or what's going on, but overall, those are minor details, I think to what is a positive, uh, Air wellness, Ayr, WF announces Q4 and fiscal year 2021 results. Uh, their fourth quarter revenue was $111.8 million.
That's in three months, which is up 16% sequentially from Q3. Q4 adjusted EBITDA was 26.1 million. And for the entire year of 2021, They brought in 357 and a half million dollars in revenue, 98 million in adjusted EBITDA. This is where it gets interesting for me. They added 62 dispensary's eight cultivation facilities and 1600 employees in the year of 2021.
They were massively aggressive in their roll-up strategy. I think very different from a lot of other MSOC. Um, but I think they are. Absolutely competitive and they have 2022 initiatives that should start bringing in more revenue and increasing their run rate. So overall, I think this is a ma a very positive release from.
Um, we will also be speaking to John Sandeman CEO of air wellness today at four o'clock Eastern time on cannabis insider about their positive earnings report per marijuana moment. Marijuana legalization has not led to more youth consumption. This report comes from alcohol and tobacco back, uh, group.
Cresco labs, C R L B. LBF expands their brand portfolio to Florida. They are the number one wholesaler of cannabis in the U S they are also launching a Florida specific edibles brand. I am so happy to see Cresco labs here. Y'all we do not talk about them nearly enough. They are a tier one operator, and I feel like they give me a little bit of news once a quarter.
So with that being said, happy to see Cresco labs, making some moves here. They're obviously big in the B2B space. Um, but we do want to see, uh, I think more news flow as a whole, um, as they continue to compete in a very, what is currently a saturated market item, nine labs, I N L B on the OTC acquiring the herbal cure in Denver, Colorado.
This includes a cultivation license and it fuels market expansion for their unity. Cannabis brand. We talked about franchising a little bit. I think earlier this week, they are a big one in that space. Verano V R N O F on the OTC and other tier one multi-state operator is opening their first West Virginia Zen leaf dispensary.
Tilray T L R Y on the NASDAQ. I'm sure you guys know that by now, Piper Stanler remains neutral on this. Um, but did lower their price target to $6. Another note coming today's saying Tilray is not a buy until they can prove sustainability. I, I P R BTIG keeps a buy rating and Cantor Fitzgerald maintains an overweight rating on T R S S F and raises the price target on Jason Wilde's company to $7 and 90 cents.
Last, but not least on company news, new, late capital partners in LCP on the OTC. A great real estate investment trust in the cannabis space. Announces $9 million of revenue for Q4 up 12% sequentially and a hundred and twenty twenty two. 122%, uh, from 2020, uh, their fiscal year of 2021 brought in $28.2 million in revenue, which is at 142%.
You're over a year last but not least. We are announcing two major speakers. Uh, in addition to the already amazing agenda we had in Miami, April 20th and 20 [email protected]. Mike Tyson will be joining our lineup. You gotta be there. Y'all use the code Elliott. I'm sorry, lane. I forgot which part of my name was in the code.
L a N E three zero. Use the code lane 30. You'll get 30% off your tickets. If you're listening to this. Uh, come hang out with us. We're also going to be featuring Ricky Sandler, the head honcho of a $9 billion hedge fund eminence capital. Really, really excited for this event. Um, the buzz is out y'all let's go, come hang out with Benzinga on Miami beach.
On a, in April, April 20th and 21st. Thanks. Y'all so much for tuning in rate and review us, let us know what you think. Uh, and we hope to see you very soon. We'll do this one more time tomorrow. Investors. Thanks so much for tuning in to Benzing. As cannabis daily stock picks and news podcast everyday pre-market.
Uh, once again, this is not financial advice. Please do your own research. We hope we bring you the best and most efficient news for your investing. Continue to find us on benzinga.com/cannabis, spending a.com/podcasts or on YouTube on Benzinga.
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