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👊 Shake and Bake 👊
William McNarland & Anthony Varrell
June 06, 2024
GM Everyone,
In every great movie, there is a revelation of the antagonist or sinister force that disrupts the protagonist from achieving their goals. That, ladies and gentlemen, has materialized as the hemp industry and its GOP backers. The deeper we go down the rabbit hole, the more we continue to connect the dots between the two, and these connections have been there since the beginning.
The light will prevail!
Today’s letter can be read in 7 minutes and 23 seconds.
What's Driving the Market Today?
Stock futures are flat after yesterday’s new record highs. Here is what is moving the market:
Nvidia overtakes Apple as 2nd most valuable company.
ECB expected to cut interest rates by 25 basis points.
Federal Reserve likely to cut rates twice in 2024.
U.S. labor market data points to economic cooling.
Tech stocks drive S&P 500 and Nasdaq to new highs.
Cannabis News for the Last 24 Hours
Aurora Unveils Premium Resin Cartridges in Australia
Aurora Cannabis Inc. (TSX: ACB, NASDAQ: ACB) announced the launch of their new premium resin cartridges in Australia. This move aims to expand their product offerings in the rapidly growing Australian cannabis market.
Grown Rogue Receives Licensing Approval in New Jersey
Grown Rogue International Inc.(CSE: GRIN, OTC: GRUSF) has received licensing approval in New Jersey, marking a significant milestone in its expansion plans. Additionally, they closed Option 1 to acquire a 44% stake, further solidifying their market presence.
Safe Harbor Financial Introduces Small Business Line of Credit Program
Safe Harbor Financial (NASDAQ: SHFS) has announced a new small business line of credit program to support cannabis entrepreneurs. The program aims to provide much-needed financial resources to help small businesses thrive in the competitive cannabis industry.
Acreage Holdings Addresses Debt Issues
Facts that matter:
Acreage raises capital and addresses debt issues.
Acreage extinguishes $70 million debt with Canopy Growth’s support.
Acreage is well position for future growth in Ohio and Pennsylvania.
Quick Hit: Canopy Growth Corp (TSX: WEED, NASDAQ: CGC) announced the exercise of Acreage Holdings’ (CSE: ACRG.A.U, ACRG.B.U, OTC: ACRHF, ACRDF) options, and Acreage to be acquired by Canopy USA. The transaction significantly changes Acreage’s financial condition, primarily by addressing and resolving its substantial short-term debt issues. This strategic step, supported by Canopy USA, positions Acreage for future growth, particularly in key markets like Ohio and Pennsylvania.
Coverage Initiated: New Lake Capital Partners
NewLake Capital stands out in the small-cap stock market for its strong financials and its unique position in the cannabis sector. The company’s business model operates on a simple yet efficient premise where it serves as a landlord to cannabis operations, offering real estate solutions that are both strategic and lucrative.They take in the money from the cannabis companies and manage it. The company takes a narrow, thin charge for doing that.
Leafly Holdings: An In-Depth Analysis of a Micro-Cap Stock
Facts that matter:
Leafly Holding’s gross margin stands at an impressive 89%
Leafly’s stock has plummeted 99.2% over the last five years.
Leafly’s digital footprint is a notable asset, the website attracts approximately 5.3 million organic visitors monthly.
Quick Hit: Leafly’s $40 million revenue in the last year highlights its operational ability in a competitive market. However, this figure represents a 15% decline from the previous year, indicating challenges in maintaining growth. The company’s gross margin stands at an impressive 89%, showcasing its efficiency and profitability in its niche. Despite these strengths, Leafly’s stock has plummeted 99.2% over the last five years. This stark decline raises questions about the underlying issues and whether the stock is a gem or a financial pitfall.
Lykos MDMA FDA Challenges + Cannabis Stock News
What we covered:
✅ California legal cannabis declining sales
✅Canopy USA closing the Acreage purchase
✅Hemp market nuclear bomb