U.S. Cannabis Stocks Big Week Ahead: Reporting Season Arrives

Benjamin A. Smith

Several U.S. cannabis stocks will be influenced by quarterly numbers next week, as America’s unofficial cannabis reporting season arrives. Unlike their Canadian counterparts, U.S. cannabis companies don’t face the severe supply chain impediments dampening revenue expectations north of the border.

First up is Curaleaf Holdings Inc. a vertically integrated cannabis operator with operations in 12 states. The company will report its financial results for the Q3 ended September 30, 2018 after the market close on November 26th. Year-over-year retail & wholesale revenue soared ↑522.36% for the three months ended June 30, 2018—besting a comprehensive net loss which rose ↑156.37% during the same period.

Curaleaf Holdings CEO Joseph Lusardi talks about the company’s record-setting, $400 million USD equity raise and recent listing on the CSE

KushCo Holdings Inc., a well-followed wholesale distributor of packaging supplies and customized branding solutions for the cannabis industry, will report Monday as well.

On November 27th, two more U.S. cannabis giants come out with earnings. Charlotte’s Web Holdings Inc.—whose after-tax net income grew ↑162.12% YoY for the three months ended June 30, 2018—will report. So too will Green Thumb Industries Inc., which presented a ↑391.44% increase in sequential YoY revenue growing during a similar period.

Between November 28-29, no less than six major U.S. cannabis companies are slated to report. Kicking off the festivities is 1933 Industries Inc., Sunniva Inc. and Origin House on Wednesday, followed by MPX Bioceutical Corp., iAnthus Capital Holdings Inc. and MedMen Enterprises Inc. on Thursday. Canadian licensed producer Wayland Group Inc. reports financials the same day.

Rounding on the week is Organigram Holdings Inc. which issued stellar numbers back on July 30thRecord net sales for both the three-months and nine-months ended May 31, 2018 were recorded, jumping ↑94.73% and ↑280.55%, respectively. Registered patients also jumped 18% QoQ, while all-in cultivation costs of dried flower harvested declined to a near-industry best $0.80/g. On the session, OrganiGram stock rose ↑6.88% versus a ↓1.00% decline in sector proxy Horizons Marijuana Life Sciences Index ETF (TSE:HMMJ).

Midas Letter will have additional coverage on individual cannabis stocks as warranted.

Benjamin A. Smith

Benjamin A. Smith

Ben is a research analyst and capital markets professional with nearly 20 years of experience. His areas of expertise are broad-based, and include extensive knowledge of macro economics, stock/derivative trading, commodity complexes, cryptocurrencies and technical/quant analysis. He also maintains an particular affinity for U.S. politics and the macro-regulatory environment facing...
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