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Cannabis Stocks: How Everything Just Changed this Week (GRWG, TLRY, NUGS, SNDL, CURLF, CGC, CRON, MSOS)

No one really argues against cannabis stocks on the basis of “perfect world” fundamentals. The forward demand curve is exceptional, and the legislative momentum is on their side. But there are hurdles – uncertainties.  One of the most important…

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2 years ago

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No one really argues against cannabis stocks on the basis of “perfect world” fundamentals. The forward demand curve is exceptional, and the legislative momentum is on their side. But there are hurdles – uncertainties. 

One of the most important such hurdles is the inability for banks to safely provide basic financial services to companies involved in cannabis-related commerce. This has been a major factor holding back cannabis sales for years. Advocates and activists have tried for all that time to get some sort of legislation on track to finally provide some pathway for standard banking services to ramp up for the sector, but to no avail.

That may be changing as we speak.

The first step toward this change actually happened in April of this year when the House of Representatives passed the Secure and Fair Enforcement Banking Act of 2021 (the “SAFE Banking Act”), which prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business. In other words, it allows banks to provide financial services to cannabis companies without needing to have cannabis legalized at the federal level first.

But supporters have had little luck in trying to find a way to get it through Congress. Until this week.

The big shift, as covered by MarijuanaMoment.net, was the successful move to add the SAFE Banking Act as an amendment to the National Defense Authorization Act (NDAA) for fiscal year 2022, clearing it for floor consideration, which is expected later this week. 

Even if it runs into another hurdle along the way as it gets scrutinized as an amendment by the Senate, the big shift this week is that we are finding out firsthand that the Act has a lot of bipartisan support. In other words, the big news isn’t so much the nifty trick being used to force the key Act onto the floor on Capitol Hill. It’s the revelation that the process is making clear that something like this is going to pass before long through one mechanism or another. It has plenty of support in principle.

With that in mind, we take a look at some of the interesting stocks in the space with recent company catalysts.

GrowGeneration Corp (NASDAQ:GRWG) has shown bouts of leadership in the cannabis space over the past year as a pick-and-shovel retail play targeting growers in the cannabis space. The company owns and operates 62 specialty retail hydroponic and organic gardening stores.

GrowGen also operates an online superstore for cultivators at growgeneration.com and B2B e-commerce platform, agron.io. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers.

GrowGeneration Corp (NASDAQ:GRWG) recently announced the opening of two new hydroponic garden centers to serve the largest hydroponic market in the country, Los Angeles County, California. These locations become the 11th and 12th locations in Southern California. Both locations will be opened for business on September 24, 2021.

A person affiliated with the company was quoted in the release as saying, “These two stores, the largest hydroponic garden centers in Southern California, position GrowGen to sell to the highest concentration of commercial indoor cannabis growers in California.”

It will be interesting to see if the stock can break out of its recent sideways action. Over the past week, the stock is net flat, and looking for something new to spark things. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -18%. 

GrowGeneration Corp (NASDAQ:GRWG) managed to rope in revenues totaling $125.9M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 189.7%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($124.5M against $59.8M).

Cannabis Strategic Ventures (OTC US:NUGS) is a more speculative name in this group. But recent events suggest it’s worth a closer look. The company is pursuing a vertical farm-to-sale model in the California cannabis marketplace, and it appears to be actively making strides toward that vision.

For example, the company just this morning announced the long-awaited completion of the transfer of cannabis licenses related to strategic activity from 2019 by the State of California and the City of Los Angeles.

Cannabis Strategic Ventures (OTC US:NUGS) noted in its release that, on June 9, 2019, it entered into a material definitive agreement with LW Ventures, Inc. (“LW”) the terms and conditions of which required the Company to restructure its preferred equity and issue common shares to exchange for shares of LW. In turn, LW agreed to fund Company operations up to $8 million and to provide the Company with four cannabis licenses issued by the City of Los Angeles and the State of California for the Retail Sale, Cultivation, Distribution, and Manufacturing of cannabis products.

However, acquiring and transferring the licenses was contingent upon approval of the change of ownership of the licenses by the City of Los Angeles and State of California, and such approval was delayed due to the Covid-19 pandemic. But now, according to its release, that delay is over, and the licenses have now been transferred.

As stated in the company’s release, now that the license transfer process has been completed, the Company can work to complete its transition plan to take over control of related operations, a process that should be completed during the fall of this year.

Cannabis Strategic Ventures (OTC US:NUGS) CEO, Simon Yu, noted in the release, “We are thrilled to finally get past these delays. These four licenses provide the regulatory backing for a series of major next steps critical to realizing our vision of becoming a top-tier farm-to-door vertically integrated premium cannabis company with dominant positioning in the thriving California cannabis marketplace. And I look forward to presenting a more detailed view of those next steps very soon.”

Curaleaf Holdings Inc (OTC US:CURLF) bills itself as a holding company with interest in medical and wellness cannabis operations. It operates through the Cannabis Operations and Non-Cannabis Operations segments.

The Cannabis Operations segment includes the production and sale of cannabis via retail and wholesale channels. The Non-Cannabis Operations segment provides professional services including cultivation, processing and retail know-how and back-office administration, intellectual property licensing, real estate leasing services and lending facilities to medical and adult-use cannabis licensees under management service agreements.

Curaleaf Holdings Inc (OTC US:CURLF) recently announced the opening of Curaleaf Bordentown, the company’s 109th dispensary nationwide. The Company also announced the launch of its Select brand in New Jersey, expanding the brand’s reach to 19 states. Select Bites, which feature the brand’s award-winning, concentrated broad-spectrum oil and science-based formulations that offer precise, consistent cannabis experiences for any occasion, are now available at all Curaleaf New Jersey locations.

“It has been a privilege to serve New Jersey’s medical community over the past six years, and we look forward to forging new patient connections in Bordentown, generating new economic opportunities and delivering exceptional retail experiences as this market continues to mature,” said Patrik Jonsson, Curaleaf Regional President, Northeast. “We are also excited to expand our Select retail footprint and introduce Select Bites to new patient and consumer audiences.”

The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 7% in that timeframe. Shares of the stock have powered higher over the past month, rallying roughly 3% in that time on strong overall action. 

Curaleaf Holdings Inc (OTC US:CURLF) managed to rope in revenues totaling $383.3M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 135.5%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($413.3M against $266.7M).

Other stocks in the cannabis space that may see interest include Tilray Inc (NASDAQ:TLRY), Sundial Growers Inc (NASDAQ:SNDL), Canopy Growth Corp (NASDAQ:CGC), Cronos Group Inc (NASDAQ:CRON), and AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS).

Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer. We may be compensated for posting this content on our website by EDM Media LLC. For questions, comments or suggestions please contact ir@edm.media.

The post Cannabis Stocks: How Everything Just Changed this Week (GRWG, TLRY, NUGS, SNDL, CURLF, CGC, CRON, MSOS) appeared first on Wall Street PR.

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate…

Published

8 hours ago

on

March 9, 2024

By

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate iron levels in their blood due to a COVID-19 infection could be at greater risk of long COVID.

(Shutterstock)

A new study indicates that problems with iron levels in the bloodstream likely trigger chronic inflammation and other conditions associated with the post-COVID phenomenon. The findings, published on March 1 in Nature Immunology, could offer new ways to treat or prevent the condition.

Long COVID Patients Have Low Iron Levels

Researchers at the University of Cambridge pinpointed low iron as a potential link to long-COVID symptoms thanks to a study they initiated shortly after the start of the pandemic. They recruited people who tested positive for the virus to provide blood samples for analysis over a year, which allowed the researchers to look for post-infection changes in the blood. The researchers looked at 214 samples and found that 45 percent of patients reported symptoms of long COVID that lasted between three and 10 months.

In analyzing the blood samples, the research team noticed that people experiencing long COVID had low iron levels, contributing to anemia and low red blood cell production, just two weeks after they were diagnosed with COVID-19. This was true for patients regardless of age, sex, or the initial severity of their infection.

According to one of the study co-authors, the removal of iron from the bloodstream is a natural process and defense mechanism of the body.

But it can jeopardize a person’s recovery.

“When the body has an infection, it responds by removing iron from the bloodstream. This protects us from potentially lethal bacteria that capture the iron in the bloodstream and grow rapidly. It’s an evolutionary response that redistributes iron in the body, and the blood plasma becomes an iron desert,” University of Oxford professor Hal Drakesmith said in a press release. “However, if this goes on for a long time, there is less iron for red blood cells, so oxygen is transported less efficiently affecting metabolism and energy production, and for white blood cells, which need iron to work properly. The protective mechanism ends up becoming a problem.”

The research team believes that consistently low iron levels could explain why individuals with long COVID continue to experience fatigue and difficulty exercising. As such, the researchers suggested iron supplementation to help regulate and prevent the often debilitating symptoms associated with long COVID.

“It isn’t necessarily the case that individuals don’t have enough iron in their body, it’s just that it’s trapped in the wrong place,” Aimee Hanson, a postdoctoral researcher at the University of Cambridge who worked on the study, said in the press release. “What we need is a way to remobilize the iron and pull it back into the bloodstream, where it becomes more useful to the red blood cells.”

The research team pointed out that iron supplementation isn’t always straightforward. Achieving the right level of iron varies from person to person. Too much iron can cause stomach issues, ranging from constipation, nausea, and abdominal pain to gastritis and gastric lesions.

1 in 5 Still Affected by Long COVID

COVID-19 has affected nearly 40 percent of Americans, with one in five of those still suffering from symptoms of long COVID, according to the U.S. Centers for Disease Control and Prevention (CDC). Long COVID is marked by health issues that continue at least four weeks after an individual was initially diagnosed with COVID-19. Symptoms can last for days, weeks, months, or years and may include fatigue, cough or chest pain, headache, brain fog, depression or anxiety, digestive issues, and joint or muscle pain.

Tyler Durden Sat, 03/09/2024 - 12:50

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Walmart joins Costco in sharing key pricing news

The massive retailers have both shared information that some retailers keep very close to the vest.

Published

10 hours ago

on

March 9, 2024

By

As we head toward a presidential election, the presumed candidates for both parties will look for issues that rally undecided voters. 

The economy will be a key issue, with Democrats pointing to job creation and lowering prices while Republicans will cite the layoffs at Big Tech companies, high housing prices, and of course, sticky inflation.

The covid pandemic created a perfect storm for inflation and higher prices. It became harder to get many items because people getting sick slowed down, or even stopped, production at some factories.

Related: Popular mall retailer shuts down abruptly after bankruptcy filing

It was also a period where demand increased while shipping, trucking and delivery systems were all strained or thrown out of whack. The combination led to product shortages and higher prices.

You might have gone to the grocery store and not been able to buy your favorite paper towel brand or find toilet paper at all. That happened partly because of the supply chain and partly due to increased demand, but at the end of the day, it led to higher prices, which some consumers blamed on President Joe Biden's administration.

Biden, of course, was blamed for the price increases, but as inflation has dropped and grocery prices have fallen, few companies have been up front about it. That's probably not a political choice in most cases. Instead, some companies have chosen to lower prices more slowly than they raised them.

However, two major retailers, Walmart (WMT) and Costco, have been very honest about inflation. Walmart Chief Executive Doug McMillon's most recent comments validate what Biden's administration has been saying about the state of the economy. And they contrast with the economic picture being painted by Republicans who support their presumptive nominee, Donald Trump.

Walmart has seen inflation drop in many key areas.

Image source: Joe Raedle/Getty Images

Walmart sees lower prices

McMillon does not talk about lower prices to make a political statement. He's communicating with customers and potential customers through the analysts who cover the company's quarterly-earnings calls.

During Walmart's fiscal-fourth-quarter-earnings call, McMillon was clear that prices are going down.

"I'm excited about the omnichannel net promoter score trends the team is driving. Across countries, we continue to see a customer that's resilient but looking for value. As always, we're working hard to deliver that for them, including through our rollbacks on food pricing in Walmart U.S. Those were up significantly in Q4 versus last year, following a big increase in Q3," he said.

He was specific about where the chain has seen prices go down.

"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."

McMillon said that in other areas prices were still up but have been falling.

"Dry grocery and consumables categories like paper goods and cleaning supplies are up mid-single digits versus last year and high teens versus two years ago. Private-brand penetration is up in many of the countries where we operate, including the United States," he said.

Costco sees almost no inflation impact

McMillon avoided the word inflation in his comments. Costco  (COST)  Chief Financial Officer Richard Galanti, who steps down on March 15, has been very transparent on the topic.

The CFO commented on inflation during his company's fiscal-first-quarter-earnings call.

"Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range," he said.

Galanti made clear that inflation (and even deflation) varied by category.

"A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related," he added.

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Walmart has really good news for shoppers (and Joe Biden)

The giant retailer joins Costco in making a statement that has political overtones, even if that’s not the intent.

Published

11 hours ago

on

March 9, 2024

By

As we head toward a presidential election, the presumed candidates for both parties will look for issues that rally undecided voters. 

The economy will be a key issue, with Democrats pointing to job creation and lowering prices while Republicans will cite the layoffs at Big Tech companies, high housing prices, and of course, sticky inflation.

The covid pandemic created a perfect storm for inflation and higher prices. It became harder to get many items because people getting sick slowed down, or even stopped, production at some factories.

Related: Popular mall retailer shuts down abruptly after bankruptcy filing

It was also a period where demand increased while shipping, trucking and delivery systems were all strained or thrown out of whack. The combination led to product shortages and higher prices.

You might have gone to the grocery store and not been able to buy your favorite paper towel brand or find toilet paper at all. That happened partly because of the supply chain and partly due to increased demand, but at the end of the day, it led to higher prices, which some consumers blamed on President Joe Biden's administration.

Biden, of course, was blamed for the price increases, but as inflation has dropped and grocery prices have fallen, few companies have been up front about it. That's probably not a political choice in most cases. Instead, some companies have chosen to lower prices more slowly than they raised them.

However, two major retailers, Walmart (WMT) and Costco, have been very honest about inflation. Walmart Chief Executive Doug McMillon's most recent comments validate what Biden's administration has been saying about the state of the economy. And they contrast with the economic picture being painted by Republicans who support their presumptive nominee, Donald Trump.

Walmart has seen inflation drop in many key areas.

Image source: Joe Raedle/Getty Images

Walmart sees lower prices

McMillon does not talk about lower prices to make a political statement. He's communicating with customers and potential customers through the analysts who cover the company's quarterly-earnings calls.

During Walmart's fiscal-fourth-quarter-earnings call, McMillon was clear that prices are going down.

"I'm excited about the omnichannel net promoter score trends the team is driving. Across countries, we continue to see a customer that's resilient but looking for value. As always, we're working hard to deliver that for them, including through our rollbacks on food pricing in Walmart U.S. Those were up significantly in Q4 versus last year, following a big increase in Q3," he said.

He was specific about where the chain has seen prices go down.

"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."

McMillon said that in other areas prices were still up but have been falling.

"Dry grocery and consumables categories like paper goods and cleaning supplies are up mid-single digits versus last year and high teens versus two years ago. Private-brand penetration is up in many of the countries where we operate, including the United States," he said.

Costco sees almost no inflation impact

McMillon avoided the word inflation in his comments. Costco  (COST)  Chief Financial Officer Richard Galanti, who steps down on March 15, has been very transparent on the topic.

The CFO commented on inflation during his company's fiscal-first-quarter-earnings call.

"Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range," he said.

Galanti made clear that inflation (and even deflation) varied by category.

"A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related," he added.

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