Analysts Say This Cannabis Stock Is A Buy! $SMG $FLGC $CNPOF $OGI $TPB
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NewsTranscript
00:00 Good morning, good morning, my friends.
00:05 Happy Wednesday.
00:06 Hope everybody's having an absolutely stellar start to your hump day.
00:09 You've had a great week so far.
00:10 We have a good bit of public company news in the cannabis space.
00:14 It says Elliot Lane, host of Benzinga's Cannabis Daily, not too heavy on the legislative side
00:18 today or the non-public companies.
00:20 So thank you, public companies, for your press releases.
00:24 Really appreciate you giving me something to talk about today.
00:26 That being said, let's dive in.
00:27 Scott's Miracle-Gro delivers its Q2 earnings.
00:31 Sales decrease year over year 26%, as well as Hawthorne sales decrease, which is their
00:36 cannabis-centric hydroponic side.
00:39 They decreased 63%, but Hawthorne sales are up sequentially 67%.
00:47 So all in all, it does seem like they could be trending in the right direction.
00:52 TBD to next earnings for them.
00:54 Per New Cannabis Ventures, ancillary stocks are outpacing the rest of the cannabis sector.
00:59 Their ancillary stock index is up 1.7% in 2023.
01:05 This is contrasting against the American cannabis stock index, down 14.5% on the year, and their
01:12 global cannabis stock index down 70.4% in 2023.
01:17 So the ancillary stocks are for sure a place to look.
01:20 I'm thinking the SMGs, the AGFYs, the GRWGs.
01:25 There's several out there, but those for sure are on there.
01:29 Good morning, Sean Allen Nichols, my friend.
01:31 Always good to have you with us.
01:32 If you're in the chat, or if you're watching live, drop a WhatsApp in the chat.
01:35 If you're listening later, let us know what you think.
01:37 Flora Growth Corp, that's FLGC on the NASDAQ, enters into a partnership with Hulk Hogan
01:42 to distribute his products globally and his hidden products nationwide.
01:46 Fun partnership there.
01:48 Etain, that is a subsidiary of Riv Capital, C-N-P-O-F on the OTC, will open their Buffalo
01:57 dispensary after getting regulatory approval.
02:01 We hear a lot about the Buffalo market.
02:03 I'd be interested to hear how this dispensary does and keep an eye on this, but definitely
02:06 a populated area and definitely a place that some operators can go in and take advantage
02:11 of.
02:12 Good morning, Max Pierre-Louis.
02:13 Thank you very much for tuning in.
02:15 Buenos dias.
02:17 The brand Cushy Punch will now expand from California and Michigan and add a third state
02:22 of New York as it will show up on shelves in the Union Square Travel Agency.
02:27 Organigram, OGI on the NASDAQ, launches a new 0.4 gram tube style pre-roll to take advantage
02:35 of the 113% surge of that specific product style over the last year in Canada.
02:42 They are saying in their press release that they have specific equipment that is capable
02:46 of delivering this like no other in the country.
02:50 Nicely listed Turning Point brands, TPB announces their second quarter earnings.
02:55 Zigzag products up 1.1% year over year.
02:58 Total consolidated net sales are over 105 million, which is up 2.6% year over year.
03:05 Last but not least, Owen Bennett of Jefferies saying Tilray, TLRY on the NASDAQ, is likely
03:10 starting to hit its stride.
03:12 That's good news.
03:13 It is good news to hear that from an analyst.
03:16 Rates it a buy with a price target of $3.90.
03:21 Says Tilray's operational delivery has been best among its Canadian peers the past couple
03:26 of years.
03:28 The one negative there, it's been slightly inconsistent, but hey, it's cannabis.
03:33 We've all been inconsistent.
03:34 Thank you, Tony, for tuning in, my friend.
03:36 Really appreciate you as always.
03:38 Can't wait to see you specifically, Tony and Sean in Chicago.
03:42 BZcannabis.com if you want to join the two coolest guys around Tony and Sean.
03:48 Hit it Elliott20, E-L-L-I-O-T 2-0 for a discount on your ticket.
03:53 Or head to Tony's LinkedIn.
03:54 He'll get you a discount as well.
03:57 All that said, really appreciate you all.
03:59 We will see you again tomorrow.
04:00 Lots of stocks to watch today.
04:02 Make sure to get our Cannabis Daily newsletter.
04:04 You get even more news, benzing.com/cannabis as well for all your news throughout the day.
04:08 Until tomorrow, you all have a great one.
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