High hopes, low expectations, booze but no fleur for you

4 mins read

🇺🇸 HIGH HOPES 

Wall Street has high hopes for these 5 cannabis stocks

Despite the lack of federal cannabis reform in the US and a long list of other challenges facing the industry, analysts see long-term potential in cannabis stocks, reports Insider

These are the five companies analysts are eyeing for 2022 and beyond:

  • Trulieve
  • Green Thumb Industries
  • Cresco Labs
  • Ayr Wellness
  • Weedmaps

The takeaway

“At the end of the day, all these companies have huge growth opportunities and huge market expansion opportunities in the coming year,” said Viridian Capital Advisors analyst Jon Decourcey. 


Enjoy Cannabis Daily each morning at 7 a.m.

🇨🇦 MUCH LOWER HOPES

Hundreds of millions cut from sales forecasts for Canada’s big LPs

Forecasts are less optimistic north of the border, where analysts have lowered their expectations for Tilray, Canopy Growth and Aurora by hundreds of millions due to decreased market share, reports MJBizDaily.

According to HiFyre (reported by Cantor Fitzgerald), estimated market share for Oct – Dec was:

  • 11.7% for Tilray, down from about 15% in the previous quarter and 18% in April 2021
  • 8.6% for Canopy, down from 10% in the third quarter, which was down from 15% in April 2021
  • 2.8% for Aurora, down from 3.7% in the previous quarter and 6% in April 2021

So who’s winning market share?

“Craft producers and large cultivators such as Organigram and Auxly appear to be gaining at their competitors’ expense,” writes MJBiz.

Check out a recent BofC Live conversation with Beena Goldenberg, CEO of Organigram – and a much older conversation with Auxly CEO Hugo Alves. (And a much, much older conversation with Alves from 2017…)


BOOZE > PATIENTS

Bourbon-selling senator opposes medical cannabis

Republication Kentucky Senate Majority Floor Leader Damon Thayer says he knows there is broad support for medical cannabis legalization in his state. Even still, he says he’s “just not for it,” reports Marijuana Moment

But… why?

Thayer said he’s concerned that it’s “a slippery slope for recreational marijuana” — an interesting reason, since he owns a bourbon distillery, notes MM. 

Government paternalism is similarly frustrating in Mississippi for medical cannabis advocates, reports WLBT. Despite the pleas of parents of sick children who could benefit from access, Gov. Tate Reeves has said he will veto medical cannabis legislation unless purchase limits are reduced. 

The takeaway

“I’m begging you Governor Reeves to show love and compassion to the patients, your constituents, who are suffering with debilitating medical conditions by signing this bill into law as it’s presented to you,” said Angie Calhoun, founder and CEO of the Mississippi Cannabis Patients Alliance at a Jan. 4 press conference. “The patients have suffered long enough.”


NO FLEUR FOR YOU

France’s CBD industry preps for fight for flower

The French government warns they will ban CBD flower products, which account for over half of sales in a market valued at €180m, reports BusinessCann. Because flower is often smoked, regulators are concerned about the carcinogens in joints, particularly those combined with tobacco.

The business community has already responded with an application to suspend the ban.

The takeaway

“Flowers represent 70% of the turnover of our stores,” said Charles Moral, president of the Union des Professionals du CBD. “So we can fear layoffs, closures … all this, in addition to the criminal risk for traders, and the stock that they can no longer sell.”

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