Hey Nerds: Blockchain
- Thread starter zeke
- Start date
CH1
The Artist Formerly Known as chiggins.
Preston
MBow30 alt account
And as usual the news was leaked like three days before the rumours hit.
I ain't complaining. I played CRON on day one which was probably the worst choice but I'm still up a hilarious amount.
Preston
MBow30 alt account
But the news is a legit game changer. One of the biggest reasons for the fucking catastrophe was the Ontario so if that's fixed... They're back to trying out this whole legalization thing again. Because up until now this wasn't legalization. Biggest province basically closing its doors? Was the main reason I didn't play LPs at all over the past few months (thank fuck for that).
Game changer.
Game changer.
Preston
MBow30 alt account
Seems that people are reminded of how much more efficient they are than the other MSOs every time they release earnings. Last time it resulted in a nice move to ~14.50 CAD that topped out about a month after earnings (from about 10.50). This time it was already extremely overextended yesterday, is now consolidating to reach that elusive higher low. And next stop? Ideally.. a weekly uptrend. Closest MJ name to a weekly uptrend other than TRUL (who have had one for a while). Kinda felt like it wanted to move today but it's not easy when Canopy is -10%. Everyone setting higher lows and there's a lot of room to be pushed down. Hopefully bulls come back sooner rather than later to confirm a bottom.
But regardless, Green Thumb is becoming a sector darling, much like Trulieve in a time where efficiency and profitability is valued more than anything else. A name I will comfortably hold as long as my price targets are reached... Unless there are red flags of course. In which case, I bail. Not loyal to any of these mother fuckers.
Preston
MBow30 alt account
Unlock season on MSOs might limit them.
Cresco's was today, coupled with brutal news.
GTII Thursday. Not too many shares, but shorts have been feasting on that in the lead-up to the unlock.
Curaleaf Dec. 31st.
Fun times ahead.
But Illinois is legalizing in January and that's no small thing - over 35% of the population of Canada. Legitimately huge for GTI and Cresco (although there's always a risk in GTI doing what Cresco did today at some point). So doing some napkin math... their growth this quarter might slow a BIT, just because they are working from a larger revenue base now and includes a lot of Essence revenue in a mature Nevada which will definitely slow the overall growth rate. But at the same time, most of their growth in general does come from increases in same-store-sales. Almost all of their primary underlying markets (IL, PA, Mass, Connecticut, Maryland, Ohio) are growing 15-25% per quarter and GTIs retail/wholesale sales will reflect that growth. I think they do a conservative $80m next quarter - puts them at $220 million for fiscal year 2019 after $62.5 million in 2018.
And that little thing called Illinois legalization should give them a decent boost the quarter after that to start 2020. Even assuming a modest 20% qoq growth for 2020 has them smashing $500 million US in revenues for 2020 (a very conservative estimate) and I can't foresee a circumstance where they aren't profitable by year end. Current market cap is 1.7 billion. As long as the growth keeps coming consistently (I'd like to see 20%+ per quarter.. I understand they won't be able to do 40-50% since acquisitions may slow a bit during a time where cash is king, but organic growth is a good kind of growth and from what we've seen, entirely realistic) and they have the cashflow to continue operations (decent cash position right now and should be inching towards profitability in the coming quarters, which helps a shit ton), I don't mind holding a core long on them.
But I'm running out of US names to trust. I thought Cresco was for real. Was waiting for the unlock stuff to fade to buy them, but now I'm not so sure. They should do well next year but starting to see some red flags and I don't do red flags. Curaleaf has some sketchy dealings but they're just so big and I don't mind having a piece of them... Trulieve and GTI are the only two left that I have not seen any red flags out of and are pretty much a well-oiled machine (other than TRULs husbands criminal stuff). Cresco and HARV had potential but unfortunately both ran out of cash at a time where running low on cash is downright deadly. And Cresco just acquired the cash burning king, OH in a market that has insane potential but it will be rocky in the short-term.
2018/2019 was a race to build out as much as possible. 2020 will stress the importance of preserving cash, while sustaining strong organic growth and inching towards profitability. At least until SAFE passes...
Anyway the risk for GTI is dilution and/or predatory raises. It's a real risk, despite their strong cash position. But otherwise, until I see red flags pop up, I'm in for the ride. As far as cannabis companies go, outside of TRUL, they're about as well-oiled of a machine as it gets. Consistently executing on every level while maintaining strong, but controlled/strategic growth.
New ticker that just came out. HOLL on www.thecse.ca .15 cents canadian. Its a MJ operation in California. Some of the wealthiest guys in Canada behind this Going to pound the table on this one. I think it could do 500% in next two months. Guys behind it, their last ticker went from .82 cents to 7.90 in five months. www.hollistercannabisco.com Read that website. Incredibly bold stuff said in a few spots. If true, and I believe it to be, this could be a real big one over a larger time frame.
MindzEye
Wayward Ditch Pig
What was their last ticker? Not going to lie, 300K ear marked for "Investor Relations" out of their first 1.8 million chunk of capital sounds...kind of pumpy.
Last ticker was tcan back in january. I have made 7 figures with this group. And I believe a lot more than 300k will be earmarked for I.; R.
What I like about them is they get very good companies and market the shit out of them. Many ten baggers they have had. But I had lost touch with them for years, but heard whispers about what they were doing.
They have tremendous European following and I.R.
And believe you me, some of the tickers I have seen you guys mention on here, good tickers too, have had huge pump behind them. And shareholders should be grateful for that.
What I like about them is they get very good companies and market the shit out of them. Many ten baggers they have had. But I had lost touch with them for years, but heard whispers about what they were doing.
They have tremendous European following and I.R.
And believe you me, some of the tickers I have seen you guys mention on here, good tickers too, have had huge pump behind them. And shareholders should be grateful for that.
Wise comment. Very wise, but what else do i expect from you? Good, to very good product accompanied with strong pumpy? And before the pumpy? The best brother And this is where this is at. Or I will never post another ticker on this thread again.
CH1
The Artist Formerly Known as chiggins.
Curious. What's your trading platform.