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Episode Summary:
Canopy Gwth(NASDAQ: CGC) released their Q3 fiscal year 2022 earnings. They have about $111 million in revenue. This is down 8% YoY from Q3 2021. However, it is up 7% sequentially.
Clever Leaves Holdings(NASDAQ: CLVR) released preliminary Q4 earnings. Revenue is expected to increase 25% sequentially to $4.2 million. Full-year expectations to be around $15.5 million, which would be up 27% YoY.
Tilray(NASDAQ: TLRY) Sweetwater brewing brand expands its distribution across California.
- Silver Spike Inv(NASDAQ:SSIC)
- Irwin Naturals(OTCQB:IWINF)
- Clever Leaves Holdings(NASDAQ: CLVR)
- Trulieve Cannabis(OTCQX:TCNNF)
Elliot's Watchlist For The Day:
- Gage Growth(OTCQX:GAEGF)
- TerrAscend(OTCQX:TRSSF)
- Canopy Gwth(NASDAQ: CGC)
Hosted & Produced By:
Elliot Lane
Aaron Thomas
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The Information Contained on this Podcast is not intended as, and shall not be understood or construed as, financial advice
Unedited Transcript:
What is up everybody it's Elliot lane, bringing you your cannabis, insights and news. Every day. We record this, just give you a little awareness around 8 45, 9:00 AM. Eastern time comes to you all by around 10:00 AM. We're giving you some cool cannabis market insights and cool industry updates. We have all of the above today, actually for one.
Not a whole lot of legislative news today. I'm excited about it. No lie. We can just talk about the companies themselves today is there's actually quite a bit to discussLately, let's start with canopy.
They released their Q3 fiscal year 2022 earnings before the market opens today, have about $111 million in revenue. This is down 8% year over year from Q3 2021. However, it is up 7% sequentially their stock at the time of recording. This is around 6%. Up pre-market so investors are liking this and I think what they're liking is the success from brands such as bios.
And others showing record quarterly revenue and in, so doing bio steel, I think is reaching another, I think the news recently was 15,000 storefronts in the U S they've also increased CBD distribution for Martha Stewart. They've done quite a bit in Q3. Looking around at media sites. They're not taking this decline year over year as a good thing.
But I do think it's a mixed back. When you look at this earnings report for CGC, it looks like investors are liking. It looks like the market itself is hesitant. So overall, probably a watch list or today feel re T L R Y on the net. Recently Tilray medical was Tilray brands. They'll, Tilray something every new a week we go here, their Sweetwater brewing brand expands their distribution across California.
We know they're making a massive push for breweries and distribution of those sorts of products. And eventually this will lead to THC, a branded beverage. Leading in those distribution markets as well. Once it's federally illegal it's till Ray's not going to be in, in entering the THC market before it is federally illegal here in the U S.
However that does not mean they do not want to make money here. We see that with this expansion gage growth, or G a E G F on the OTC launches, pure beauty flower products in stores across Michigan. This is a partnership as pure beauty is a California marijuana flower brand that combines art and culture with sustainable and social justice practices.
So they really are. I think. Supporting a good partnership here, a good craft brand in California and bringing that to a pretty heavy state when it comes to marijuana consumption. And also when you think of gay jaw, you can't forget terrorists. And as they. Going to be one company eventually. So GA EGF and TRS SSF both interesting stocks to watch off this news.
S I C, this is silver spike investment corporation closes their IPO and over 6 million shares of $14 per proceeds came in around 83 million. I think. Overall, this is a decently successful IPO. A somewhat smaller one, but I think the more ancillary investment opportunities that investors see in the cannabis space right now, the better as that is what really helped cannabis move forward.
Last year, we had these REIT stocks like IPR, AFCG new lake capital joined in. I think they're in LCP. There, there are several that, that really were the ones leading the way in 2021. SSAC jumping in with the closing of their IPO. Ultimore Capitol a lot more BDC announces a proposed IPO as well. This is over six and a half million.
At 14, 50 per or more is a company I've known for a long time. Since I've been in this space, they've been very active. They have, they are a specialty finance company that invests primarily in loans to companies operating in the U S cannabis industry. This includes cultivators, processors, manufacturers, distributors, retailers, and potentially ancillary companies that serve the industry.
They've been around forever. I think they've done real estate. I think they've done several different types of. But I think following in the steps of SSI, SSCI, they're going to let individual investors get involved in this industry more as well. I like this a lot. I think I'm going to like more, a lot when they do hit the public markets, Irwin naturals.
I w I N F they've been around since 94 as herbal supplements on your shelves. You probably know them. They are a household name and they're diving into both the Canada. And the psychedelics industries they're coming in hard and fast y'all first target for them actually backing up here, they're beginning their process to roll up a number of ketamine clinics that they've already purchased.
And their first target is their current subsidiary, Midwest cat effusion, which is an Iowa city. So keep an eye on them. I think they. Massively set up to dive into the space as it stands now in Irwin, naturals will definitely be a player when it's all said and done in both industries, TC in and F on the OTC, which we all know is truly opens their 112th dispensary in Florida.
And several bits of news out of Latin America. Clever leaves announces Kyle Detweiler to step down as CEO and they will appoint Andreas Fargo to step in to his place. Kyle, I think has done a magnificent job at leading clever leaks to where they are today. He's an incredibly smart individual.
Andres has big shoes to fill and we'll definitely be keeping an eye on them. I believe they are NASDAQ listed C L V R. They also released preliminary Q4 earnings revenue expected to increase 25% sequentially to 4.2 million full year expectations to be around 15 and a half million, which would be up 27% year over year.
Thank you all so much for tuning in again to cannabis daily, share this with your friends rate and review us, let us know what you think, what you want to hear about. We will do this for you. This is thanks to Benzinga. Thanks to AaronThomas for always hosting this and produce. Looking forward to doing this two more times this week.
We'll talk to you then. Hey investors, thanks so much for tuning in to Benzinga. As cannabis daily stock picks and news podcast everyday pre-market. 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 channel.
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