• Moderators, please send me a PM if you are unable to access mod permissions. Thanks, Habsy.

Hey Nerds: Blockchain

Pretty brisk volume in AGFY in the premarket (120K) +6%

Strong inflation numbers out in the US this am (Consumer prices surge). Now or never for Gold.

/positions GLD calls, NEM calls
 
VANCOUVER, BC, Nov. 10, 2021 /CNW/ - The following issues have been halted by IIROC:

Company: Verano Holdings Corp.

CSE Symbol: VRNO

All Issues: Yes

Reason: At the request of the Company Pending News



I mean, I would think they made an acquisition, maybe in NY or filling gaps in another state but.. They usually don't halt for that reason unless it's a big one. And they have no reason for a bought deal. Wonder what's up.
 
Preston said:
They're all dropping (we knew this would happen) but I think for Curaleaf Florida was a big part of that. @Habsy could probably attest to it.. They're all basically giving away weed there. Huge pricing wars. Except Verano.. They fancy themselves as premium weed guys and haven't adjusted their pricing yet and their sales I believe grew a bit this quarter with expansion.. I believe their opex is higher than all MSOs this year and some of their expansion is coming online soon (or has already). With Thumb barely in Florida hopefully their margin hit won't be as pronounced. NJ/NY will get those margins up again (or at least balance out the dropping margins elsewhere).
Click to expand...
If you just want to check the Florida retail market click on

buddocs.org

Florida Dispensary Flash Deals

Here you can stay up to date with the latest Florida Medical Marijuana Dispensaries Sales, Flash sales, and all promotions.
buddocs.org buddocs.org

The sales here are ridiculous, I've been picking up full ounces for $130... Prerolled. There's a price war going on here for sure for quite some time now so profit margins will be lowered here.

Sunnyside (formerly one plant) has been trying aggressively to keep up lately too.
 
Preston said:
VANCOUVER, BC, Nov. 10, 2021 /CNW/ - The following issues have been halted by IIROC:

Company: Verano Holdings Corp.

CSE Symbol: VRNO

All Issues: Yes

Reason: At the request of the Company Pending News



I mean, I would think they made an acquisition, maybe in NY or filling gaps in another state but.. They usually don't halt for that reason unless it's a big one. And they have no reason for a bought deal. Wonder what's up.
Click to expand...

I hope they are buying VEXT...CXXI also works for me
 
Preston said:
VANCOUVER, BC, Nov. 10, 2021 /CNW/ - The following issues have been halted by IIROC:

Company: Verano Holdings Corp.

CSE Symbol: VRNO

All Issues: Yes

Reason: At the request of the Company Pending News



I mean, I would think they made an acquisition, maybe in NY or filling gaps in another state but.. They usually don't halt for that reason unless it's a big one. And they have no reason for a bought deal. Wonder what's up.
Click to expand...
They have entered Connecticut.

mjstocktrader.com

Verano Enters Connecticut Cannabis Market with Vertical Integration Ahead of Adult-Use Transition

Verano consummated the acquisition of Willow Brook Wellness, LLC, which holds an active dispensary in Meriden, Connecticut.Additionally, Verano has entered into definitive agreements to acquire both Caring Nature, LLC, which holds an active dispensary in Waterbury, Connecticut, and Connecticut Pharm
mjstocktrader.com
 
They're going live in the first half of 2022. Green Thumb, Curaleaf, Trulieve (to a smaller extent) and now Verano will own the state. Small population but in the early days these companies will dominate. Wasn't a cheap purchase but it should be accretive.

Next up is NY for them.
 
fergy57 said:
So I sold my Verano yesterday to take some profits. Is this news worthy of jumping back in?
Click to expand...
No. The thing with a deal like this is that we have no idea if it was a good deal or a shit deal because CT does not sell recreational legal weed yet. So we have no idea what kind of numbers this acquisition will produce for them. I don't think the market will care much for it. They rarely do care for these things.

The bigger thing to watch is whether the sector gets a trend change or not.
 
Another thing to keep in mind about Verano. It is severely under-represented in the MSOS ETF. MSOS has a lot of dry powder. MSOS propped it up yesterday and they have even more dry powder this morning. It can very easily prop it up again today. And tomorrow. And the day after that. It will eventually be a top 3 or 4 holding and it has a ways to go before it gets there. So ETF buying will help its price action in the short-term. I just worry what happens when that support goes away (if the sector takes a tumble again). Risk management is all.
 
Lqwd announced a strategic partnership with Breez wallet today. A nice bump in their price.

They also are sitting on 139 BTC at an average purchase price of $60k (assuming CAD, since they are a Canadian company).

Bitcoin and Eth pumping on inflation news. Good day so far for the cryptos.
 
That was a generational profit taking opportunity on pot stocks. Broad market blowing over, supports lost, fib retracement levels too far gone.


We'll see if Thumb gets a beat but I'm doubtful it changes much. The momentum is gone. I'm coming out far lighter after selling Verano in multiple batches near their recent highs (and one last time a little lower before it reacted to Thumb and the other names tanking), but it's still gonna hurt.
 
Been riding SPXS down though from a few days ago which makes up for a lot of the shit I'm taking right now. Nailed that one and will keep riding as long as the momentum is with the bears.
 
I covered my SPX short down here (4630 ES)

Elon did a great job of calling the near term top....and for that I thank him
 
Analysts nailed the Thumb earnings for once. These guys just don't disappoint.

Kept their margins steady at 55% too. Such impressive operators and they deserve that premium that they trade at.
 
You must log in or register to reply here.
Back
Top