E29 - It’s Earnings Season for Q321, big picture trends, the economy’s effects on cannabis, and ‘dank at scale’.
11/13/21 • 57 min
Do we have an exciting episode of the High-Rise in store for you this week!
We are honored to have Matt McGinley join us as a guest host. Matt is the Managing Director at Needham & Company and his experience in covering the markets is quite extensive. Before he started focusing solely on the cannabis industry, Matt worked at Evercore ISI and Morgan Stanley. Prior to that, he worked in brand management at Kraft Foods in the beverage category, and was an Infantry Officer in the U.S. Army before leaving the military in 2004 at the rank of Captain. He holds an M.B.A. from New York University and graduated magna cum laude from the University of Pittsburgh.
Our hosts cover earnings season for Q321 and because of our special guest, were able to really dig into some detail of how earnings looked for cannabis and it’s major players in the industry this season. First they talk a bit about big picture trends and how our current economy has been effecting the cannabis markets — global inflation and supply chain issues did have some impacts. Next our hosts dive into the earnings performance for a few of the major MSOs such as Curaleaf, GTI, Cresco, and Columbia Care to name a few. Stay tuned to learn about who had a ‘hot mess of a quarter’ and who are positioned have better EBITDA rates and other key metrics going into the next quarter and beyond. Let us know what you think of our earnings season coverage and leave a review, and also remember to subscribe to this podcast wherever you stream from.
Do we have an exciting episode of the High-Rise in store for you this week!
We are honored to have Matt McGinley join us as a guest host. Matt is the Managing Director at Needham & Company and his experience in covering the markets is quite extensive. Before he started focusing solely on the cannabis industry, Matt worked at Evercore ISI and Morgan Stanley. Prior to that, he worked in brand management at Kraft Foods in the beverage category, and was an Infantry Officer in the U.S. Army before leaving the military in 2004 at the rank of Captain. He holds an M.B.A. from New York University and graduated magna cum laude from the University of Pittsburgh.
Our hosts cover earnings season for Q321 and because of our special guest, were able to really dig into some detail of how earnings looked for cannabis and it’s major players in the industry this season. First they talk a bit about big picture trends and how our current economy has been effecting the cannabis markets — global inflation and supply chain issues did have some impacts. Next our hosts dive into the earnings performance for a few of the major MSOs such as Curaleaf, GTI, Cresco, and Columbia Care to name a few. Stay tuned to learn about who had a ‘hot mess of a quarter’ and who are positioned have better EBITDA rates and other key metrics going into the next quarter and beyond. Let us know what you think of our earnings season coverage and leave a review, and also remember to subscribe to this podcast wherever you stream from.
Previous Episode
E28 - MJBiz article misrepresents data, down 5% is the new flat, and does recent USA election losses affect legalization?
The cannabis industry just had itself another interesting week and our hosts of the High-Rise are here to tell you all about it.
For this episode we are honored to have a special guest host W. Andrew Cater Vice President at Stifel to join us in the conversation. To start off, it was discovered that MJBizDaily published an article which misinterpreted data provided by Headset. As a result the article mistakenly showed cannabis sales plummeting from last summer.
Next, our hosts talk about how the cannabis market had a pretty rough week in terms of stock performance, plus also
discuss the latest news about JP Morgan not allowing the buying of cannabis stocks for their clients — does this mean more banks could follow suit?
After that Cy, Emily, and Andrew talk about legalization and the recent USA elections, where it seems Democrats took some serious losses. Does this mean efforts towards closing the loop on full legalization could be at risk? Will Republicans step up and ‘out progressive’ the Democrats on cannabis?
Finally we cover the Canadian market where we get a really great earnings primer from W. Andrew Carter and Stifel’s outlook on the LPs up north. This was quite a week with so much to cover, glad we could distill it down in the span of another great episode of the High-Rise for you! Please remember to subscribe and share this podcast often.
https://mjbizdaily.com/adult-use-cannabis-sales-slip-from-2020-pace-after-lackluster-summer/
https://www.businessinsider.com/why-cannabis-companies-pursue-reverse-takeovers-2018-11
Next Episode
E30 - All about the States Reform Act: will this finally be the end federal prohibition?
We say this often, but this week we have a very special episode of the High-Rise. Our hosts Cy and Emily along with a returning guest host — the founder of One Plant, recovering lawyer, and cannabis insider Brady Cobb.
The conversation stays focused on a single topic this week which is the States Reform Act. What does this mean for the cannabis industry? In essence this legislation would federally decriminalize cannabis and fully defer to state powers over prohibition and commercial regulation. The bill was written by Nancy Mace a Republican Representative from South Carolina. The framework for this bill differs from the Cannabis Administration and Opportunity Act written by Democratic Senate Majority Leader Chuck Schumer in a few distinct ways but also stays true to the spirit behind Schumer’s bill as well. We let Brady take the floor and give us a bit of an inside scoop on all the details around this new legislation and how this could finally be what brings the US cannabis industry out of prohibition forever.
As always we hope you enjoy this week’s discussion, please do leave us a review and subscribe for all future High-Rise episodes wherever you stream your podcasts!
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