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Hey Nerds: Blockchain



Crazy.

Anyway Ben mentioned he expects capex to increase in 2021 naturally. Expanding in NJ and waiting on NY to determine how aggressive they expand there.

Said California is a cautious pilot project which is what I mentioned. Said it's not easy to make money there but it's worth exploring.

And finally they may start expanding in Florida finally. They do really well there per store but they haven't put much effort in that state as of yet.

Based on the increase in expected capex they may need some cash at some point this year. They have around $230m on the books which is a good spot to be in but they may need more. As I said earlier I think 2021 will be the year of the massive buildouts for all big MSOs.
 
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One more key pivot that we're seeing from all of them:

31% wholesale growth, 8% retail growth over last quarter. We're getting to the point where it's all about building those brands. Cresco pivoted to highly wholesale based earlier and more aggressively than the others so I'm curious to see how they do this quarter.

Also Illinois just approved several more stores which is great for the thumbs and Crescos who have huge cultivation capacity there. Build those brands and get more product on shelves.
 
QQQ was green and looking good on the futes until out of nowhere the 10 year bond deal blast 5%. That tanked QQQ 1% immediately.

The struggles continue until that shit stops rising it seems. Oh well. Still feeling good about weed in the short-term at least. But it coulda been way better.
 

Cresco Labs to Gain Leadership Position in Massachusetts Through Acquisition of Cultivate

Upon completion of planned expansions, combined operations will include 100,000 sq. ft. of active canopy, 3 adult-use dispensaries and 3 medical dispensaries, the maximum allowed for cultivation and retail within the state Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), one...
investors.crescolabs.com investors.crescolabs.com


This is a great market to be in. Minimal competition, supply constrained, in a $1+ billion growing market. Kim is expanding there too but she's had to jump through a lot of hoops to do it. Lotta red tape there. Ayr is huge there already and mentioned they have huge expansion projects there but have yet to get approval. Seemed frustrated. So anyone in the state has a huge ass first mover advantage.
 
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Market seems to like Cresco's move here. Or maybe they are starting to price in a Cresco beat as they have mucho overlap and Cresco is even more dependent on the higher growth wholesale model. I said it before: it would not surprise me if Cresco takes over 2nd place in cannabis revenue this quarter.
 
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shorted ES 3945...stop 3949. Goal is 3925. So risking 4 points to make 20.
 
Kim is so so so so sooo close to all-time highs! A QQQ ripper would get us there. Maybe not even need that! Let's go!
 
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