Cannabis Politics Effects on Stock Picks | Cannabis Daily September 23, 2021

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Episode Summary

Canadian cannabis sales increased 46% in July to a record USD 339 million. Aurora cannabis closing their Edmonton facility. We touched yesterday.

New Jersey, governor announces, he expects record sales to begin through medical cannabis channels in quarter one or Q2 of 2022, North Carolina Senate president indicated a medical cannabis bill, may not get a vote until next year

Public companies talked about on the podcast:

• Aurora Cannabis (NASDAQ: ACB)
• High Tide Inc (NASDAQ: HITI)
• Indiva Ltd (OTCMKTS: NDVAF)
• Trulieve Cannabis TCNNF (OTCMKTS)

Hosted & Produced By:

Elliot Lane

Aaron Thomas

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Unedited Transcript:

Investors it's Thursday. What is up? This is Elliot lane with cannabis daily here at Benzinga as always a big thank you to my producer. Aaron Thomas hope y'all have had a better couple of days, uh, than the week started. I know we were in the red for one. Uh, hopefully we'll start to see some of this come back up, but we all know cannabis doesn't trade, like anything else.

So let's get to it. First and foremost, Canadian cannabis sales increased 46% in July to a record 339 million. I like seeing a new record for Canada. A lot of people bearish on that market and comparison, but I still think there are some fantastic companies there with a lot of international prospects. So keep an eye on that.

Uh, as it grows, as it continues to grow, we'll touch on a few of the Canadian companies here in a second. A couple of things I do want to touch on politically Booker that's. Senator Cory Booker. Uh, as opposed to the safe act and the national defense act, um, not overly surprising is everybody wants a win, I guess, but Chuck Schumer and Corey Booker will continue to push for their, a COA bill or what will be a bill, uh, that they proposed a few months ago.

Uh, the industry generally just believes is too broad to get anywhere. Uh, the industry wants safe banking and right now, uh, the Democrats, uh, are the ones in power and standing in front of it as the Republicans have done in the past, but politics being politics. Uh, hopefully we can get this through and this does not, um, get halted for the fifth time.

Aurora cannabis closing their Edmonton facility. We touched yesterday. Uh, on some happenings there, uh, this impacts 8% of their workforce. There's a $50 million cost associated with the facility. They're closing down, which I believe is the Aurora Polaris facility. Um, along with a cost, it is somewhat close to another Edmonton facility for Aurora.

Overall analysts are incredibly bearish on the figures of the company will report next week. Uh, in diva in D V a F announces a warrant incentive program, each unit will consist of one common share and one warrant gross proceeds to the company. If all warrants are exercise would be over 6 million, $800,000 Canadian, uh, in diva, kind of on a terror.

They are they PR they reported fantastic Q2 earnings. Uh, I think this is another initiative for them, uh, moving forward along with continuing to strengthen their brand portfolio and that investment from century bank Corp, uh, which is attached to sundial lesson DL, high tide NASDAQ listed H I T I opens to more retail cannabis stores in Ontario bringing their Canadian total to 97 97.

Dispensary's in Canada, 26 and Ontario. My thoughts on high tide is it's a fantastic brand. Um, you know, they, they don't do much, uh, publicity, we'll say they, they do it all in their operations, all in, uh, you know, what they're doing as a company. But to me that I wish they were a little bit more out in the public.

Uh, because right now it seems to me like they might be a massive M and H. Either way, H I T I is a wonderful, wonderful company that continues to grow at massive scale. Uh, every time we talk about them, New Jersey, governor announces, he expects rec sales to begin through medical cannabis channels in quarter one or Q2 of 2022, North Carolina Senate president indicated a medical cannabis bill, uh, may not get a vote until next year, uh, and last but not least.

Pablo's wattage of Cantor Fitzgerald raises the price target of true leave to $81. A share, keeping an overweight rating, maintaining a rank as one of his top cannabis. Pixie, although he does not put picks in, he puts the value of the stocks truly is definitely one of his favorites. Uh, having built such a massive footprint across this country.

This is Elliot lane with cannabis daily. I hope this has been helpful. We'll be back again tomorrow to wrap up the week, uh, until then you all make some money happy trading. We'll see that.

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