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Green Giants March 2022 Newsletter

Jesse Redmond profile picture
Jesse Redmond


  • March was a mixed month for cannabis stocks.
  • Cresco's deal to acquire Columbia Care provides an increasingly important scale and is expected to create the largest MSO based on pro-forma revenue.
  • The market is pricing in zero political progress, endless state setbacks, and ignoring the normalization of cannabis.

Ditch Weed

Annie Otzen/DigitalVision via Getty Images

March was a mixed month for cannabis stocks. We have a handful of bets in the portfolio: no ancillary stocks, no Canadian LPs, and overweight MSOs with exposure to expanding East-Coast markets. Last month, all three worked against us and we

This article was written by

Jesse Redmond profile picture
Former hedge-fund manager and dispensary operator now building cannabis portfolios. I write about cannabis stocks on greengiants.net, run an investment-consulting business called Higher Calling, and am the co-host of CEO Interviews on Seeking Alpha.

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Comments (9)

Cresco doesn't have to divest it's assets, just sell the excess license and re-brand dispensaries.
When Trulieve bought Harvest they sold Harvest's license and re-branded Harvest dispensaries to Trulieve.
Selling the excess licenses, especially NY's will garner possibly $500 Million for Cresco
breez profile picture
Great article... I believe this is opinions only and they reflect my opinions also... I have dumped 4 of my positions yesterday and will wait on the sidelines until conditions improve... My only position now is cresco labs and I'm thinking of adding Columbia Care before the new deal closes in the next few quarters... GLTA... And everyone has an opinion be it good or bad... Don't hate...
Jesse Redmond profile picture
@breez Thanks for the constructive comment. Since you are interested in the merger, here's a helpful post on the subject: twitter.com/...
RangerPeteVN profile picture
Actually this is an excellent time to pick up some of the downtrodden at ridiculously low PPS. Like Jushi, GTI, or even Trulieve. When the Feds finally get their collective stupidity out of the way, these stocks will explode.
Several false assumptions in here.
1."The market is pricing in zero political progress, endless state setbacks, and ignoring the normalization of cannabis." No the market is still pricing that political change in imminent which is why they rallied 15% over the last few weeks, although they will come back down in the coming weeks as hope fades again.
2. "Finally, sentiment is at an all-time low." nope, most MSOs have another 50-60% drop coming before sentiment would bottom. Just read the comments on any of the MSO posts, investors are ever increasingly enthusiastic do dump their money down the drain in hopes of the easy money that all the analyst make them out to be.
Jesse Redmond profile picture
@Randol33 Thanks for the comment. Not sure about false assumptions; perhaps opinions with which you disagree. Which particular piece of legislation do you feel investors are expecting to pass? MSOS was still down almost 4% in March despite the "rally" last month.

Relative to sentiment, that is subjective, but it is the worst I have seen. I see people throwing in the towel daily on Twitter and Reddit. Perhaps the SA audience is more optimistic.
@Jesse Redmond once all the MSOs starting setting fresh 52 week lows then the sentiment will really begin to fall.
Jesse Redmond profile picture
@Randol33 That would certainly make things worse! I recommend cannabis stocks for investors with a 3-5 year time horizon and a high risk tolerance. It also needs to be sized appropriately relative to one's total portfolio. I appreciate you taking the time to read my article and all the best on your journey.
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Related Stocks

SymbolLast Price% Chg
The Cannabist Company Holdings Inc.
Cresco Labs Inc.
AdvisorShares Pure US Cannabis ETF
Tilray Brands, Inc.
ETFMG Alternative Harvest ETF

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