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Hey Nerds: Blockchain

Nice comeback by MSOS....holding most of my calls overnight. TRUL and TER both +3% on the day. Cresco finished green (almost) so dip buying gets rewarded.
 
Preston said:
Out at 38.50.
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Bot back 37.80, also added Curaleaf at 18.40 in a fresh new position and took more nibbles on Thumb from 38.15-38.40.

Going home happy. I was pretty green today and couldn't figure out why since I'm still almost 100% on Thumb and they were down 2.65% (although I did take on more nibbles of them that I was green on today)... Turns out SHG was on roids. I really don't even hold much but 16% gains can help. The AYR flips helped a lot too as well as Curaleaf.
 
Preston said:
One thing I'll say... I'm not sure what happened to Cresco's gross margin% after the impressive Q3. OpEx went up substantially and they haven't really addressed why. Bullish on them but there's your negative.
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$9+ million costs for OH rebranding was the reason for the higher than expected cost of sales. Gross margins would have been at around 51% otherwise. Relatively in line with Q3. Would have liked to see the margins improved but that's more respectable.

Plus the settlement with the founder of the company was a drag on their expenses. $18m for another one time cost.
 
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MSOS continues to be a stick in the mud.....sold my calls for a decent profit but was hoping for more.

Rode QCOM up this am, now trying to ride CHWY down.

my day will be green....but I thought it had the makings of an epic Friday.
 
Hibernation till May earnings season. Until then we follow the broad market. I'll be back with potentially larger positions if we get more of a dump from here or if the broad market recovers heading into May. For now, I'm enjoying life by being less active.
 
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Preston said:
Hibernation till May earnings season. Until then we follow the broad market. I'll be back with potentially larger positions if we get more of a dump from here or if the broad market recovers heading into May. For now, I'm enjoying life by being less active.
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and being the senior correspondent for Coronavirus at F1.
 
them CHWY calls more than doubled....sold 40%

bottom fished DKNG at 62.75 for a trade
 
Out of remainder CHWY calls (worked well!) and out of DKNG calls at break even. Not holding anything short term right now but might get interested around 3PM
 
I like the NY legalization framework. Bullish for anyone currently operating in NY. Not very bullish for any major operator who plans on entering. Bullish for the small boys to enter and specialize in what they want (retail, distribution, etc) as well but the environment is there for the existing big boys to dominate.

Cresco, Thumb, Curaleaf, Columbia Care, Vireo are all positioned well. Seems like it's going to be quite some time for sales to get rocking. In fairness they barely have a medical program at the moment so it'll take a bit to get going, unlike Arizona or even Illinois who had a mature medical programs already. Think I read 18-24 months till adult use sales start there but it's something to look forward to. Big deal for New York to be legal. Dominos.

PA would be wise to come next. With a mature medical market there already they can pivot to adult use on a dime if they want.
 
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I'm looking at CERE -- basically trading at the $10 SPAC level...so no downside. Dead money at worst.
 
Yeah I'm eyeing them as well, particularly when they de-spac this summer. Not too interested in a weed spac during a dead sector where SPACs and any growth stock is getting destroyed. But eventually I think it'll pay. It's cheap.
 
The thing about SPACs is you can always get your $10 of cash back before they de-spac.

I was offered that with GRAM
 
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