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Episode Summary:
Neptune Wellness Solns (NASDAQ: NEPT) was granted a 180 day extension to meet NASDAQ's minimum bid requirement of $1 per share. The deadline for this requirement is August 29th, 2022. Neptune's new partnership with Walmart and Cocomelon is super promising it could be a great one to put on your watch list.
Wells Fargo maintains an equal weight rating on GrowGeneration (NASDAQ: GRWG), but does a lower the price target from $9. Two $8.
Harborside(OTCQX: HBORF) Completes Acquisition of Urbn Leaf.
Audacious (OTCQB:AUSAF) reports Q3, 2022 earnings.Their total revenue was around 2.37 million. It is up 2623% YoY.
Former President Bill Clinton speaks at Impact Forum in Orlando, Florida, yesterday in massive support of CBD.
Elliot's Stocks To Watch Today
Verano Holdings(OTCQX:VRNOF)
Harborside(OTCQX:HBORF)
Audacious (OTCQB:AUSAF)
Hosted & Produced By:
Elliot Lane
Aaron Thomas
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Unedited Transcript:
This is cannabis daily. This is your host Elliot lane. Thanks to Aaron Thomas and Asli for helping us make this happen. And Benzinga for the platform. This show brings you your daily cannabis insights and news on the cannabis industry and markets. We're going to talk, we're going to start off the day with politics said nobody that ever wanted to have a good day ever.
But we're going to start there anyway. So last night there was a pretty important annual happening called the state of the union address. I'm sure you know about it, president. Did not mention cannabis in the state of the use and surprise. Not really. I know a lot of people are upset about it this morning.
I'm not going to lie. Did not think he would mention anything about it. Anyway, there was a lot of discussion about mental health though, and fighting the opioid crisis. And I think it is important for us to remember how cannabis can help that fight. But hopefully this administration will verbally discuss that in the near future.
Next up, we're staying on the political sidelines here with bill Clinton comes out at impact forum in Orlando, Florida, yesterday in massive support of CBD. He did mention with a small amount of THC saying he probably gets more calls about CBD than anybody else alive. I somehow feel like that was an exaggeration, but that being said, it's good to see.
Former mainstream politicians come out and support of the. Neptune wellness solutions in EPT on the NASDAQ was granted a 180 day extension to meet NASDAQ's minimum bid requirement of $1 per share the new. For them to meet this requirement is August 29th, 2022. I do believe in Neptune. I think they are a fantastic company.
They're a new partnership with Walmart and Koka Mellon is super promising. But with that being said, of course there's a lot of work to do so let's keep an eye on them. However, if they are successful in getting it up, this could be a great one to put on your watch list. Now audacious brands, a U S a reporting, some promising numbers in their Q3, 2022 earnings.
Their total revenue was around 2.37 million. It is up 2623% year over year. I believe it was around 90,000 at this same period. Last year, their gross profit was around 1.8, 4 million. From a loss of 166,000 in the same period last year, prox to that team. That's Terry Booth led Terry Booth. Of course, one of the founders of Aurora cannabis.
Now leading the audacious team. This is turning into a very promising company. Internationally Wells Fargo maintains an equal weight rating on grow generation, but does a lower the price target from $9. Two $8. Hexo H E X O on the NASDAQ, seeing an up and down free market. They were up at one point around 8.7%.
I believe now it's around 1% increase pre markets at the time of recording. Needham does maintain a buy rating on green thumb industries. That's GTB I F on the OTC. I believe the price target is around $33. Tomb C H O F is a pretty well-respected Canadian retail company. Think of them as somewhat of a competitor to high tide fire and flower Nova cannabis.
They announced their Q2 highlights revenue was 4.2, 1 million down from four points. 4 million from the last quarter, however, their expenses were down and their gross margin did increase. So moving in a few different directions there, I think that's a watchlist or at most right now, but that being said, I like them increasing their margin Juva life.
That is J U V a F on the OTC. This is a cool piece of news which I think I might check out today. They are offering a journaling app for personal health and wellness tracking this app. We'll assist new consumers and just probably current consumers with insights into how cannabis products affect their health and wellness.
Super cool. I'm going to try this out. I will report back what I think, but that being said, perhaps check it out. That's Juva life Harbor side, HBO RF completes their urban leaf acquisition and appoints ed Smoltz as CEO of the combined. Company, this massively supports Harbor side's footprint in Southern California for them to be one of the main players in the state, they'll be fighting the likes of glass house, riding the lights of the parent company.
But I think Harborside, this is an important acquisition for them. And ed I think is a very cool. Addition to their C-suite team, former CEO of FAO shorts and wild things. Also the former COO of Patagonia. He also led the cannabis company Calex peak I believe for a few years. And was a part of JP Morgan or no, I'm sorry.
Goldman Sachs investment banking. So he has a long history. Of working in finance of leading companies, I think Harborside is going to see a nice aggressive push here. Sugar bud SBU, DD announces their preliminary Q4 2021 earnings. They are predicting record revenue of 750 to 850,000 for the quarter and around two and a half million.
For the year of 2021, a couple more here, Verano holdings draws an additional $100 million from an existing credit agreement to fund further expansion and growth initiatives. This to me is pretty obvious that they're preparing for some more M and a on the horizon. They did just acquire goodness growth.
That's Judy NSF on the OT. What's reported the best increase in terms of stock performance in February. So perhaps Verano is about to do it again. They did just join us on cannabis insider yesterday, check out Benzing as YouTube for that video, talking about their MNA strategy and what we can expect.
And. For from them and from cannabis in 2022, we talked to their chief investment officer. Aaron Miles, definitely check that video out last but not least. We can't get through the day without talking about tilt holdings, T L T F loved this company. Love what Gary Santo and team is doing over here. They sign an exclusive partnership with timeless refinery for manufacturing and distribution for the brand in Ohio.
Timeless is a vaporized. Maker in Arizona, Oklahoma, Missouri, California. And of course now Ohio via tilt. Another bit of news for tilt. They did just sign Lynn Ricci who led I R for true leave up until recently. And I believe, of course, whenever you have mergers and acquisitions, some shuffling will happen.
I think this is a massive For investor relations for holdings. And I think that's something to keep an eye on for a company that is fighting for tier two. And I think eventually tier one levels in this market that being said, if I'm looking at winners today, all you got to talk about Harbor side, you gotta talk about, I'm definitely keeping Verano on my watch list.
That's a must. And I think it's worth mentioning audacious for sure. They really over-performed, in my opinion, that being said, this is Elliot lane. Thanks so much BZ cannabis.com. We want you in Miami. Come see us then. Thanks so much. I'll see you tomorrow. Investors. Thanks so much for tuning in to Benzing.
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