STEM Holdings – Structure & Current State Q2F2019

I’d never heard of this outfit before until someone on Twitter suggested we have a look at it. While I usually don’t take tips (or anything other than laughing at memes) from Twitter, Blue’s got me searching high and low for some portfolio prospects in the MSOs down south. At first blush, I don't think I need to look very high. This company has announced a fundamental change in strategy, and some have even suggested it could be a Trulieve or Cura in early genesis (yeah, that’s Twitter). Their stock has gone from $7.50 to its current level of $1.20 over the past 13…

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US MSO Peer Comparison – SGA & SBC as % of Sales

With most of the US MSO's with a stand alone Q reported... we begin to drill down into the operating results of US MSOs. Given not all MSO's report Selling Expenses, i would suggest the reader focus on Aggregate SGA for comparison purposes. Individual Trend Analysis graphs will follow.

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Inner Spirit Holdings – Structure & Current State Q1F2020

We continue looking into the retail piece of the value chain, this time with Inner Spirit (ISH), which operates under the ‘Spirit Leaf’ name. TheCannalysts visited one of their stores in Edmonton - and it was somewhat unique among the shops we went through. That store was positioned towards what those in the industry might call ‘upscale’.  It was located in an upscale outdoor mall in an upscale neighbourhood, perhaps they were simply trying to blend in…. maybe it’s their core platform. There is retail history and experience in the outfit. The CEO comes from creating and operating a watch/sunglass chain with 12 locations…

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Consolidation Is Inevitable. Or is it?

Business is filled with buzzwords and catch-phrases. Statements that intend to define a business situation or condition. Perhaps to enforce an action item….or sometimes to summarize feelings….the ‘zeitgeist’ as it were. Perhaps simply put out there as a way to phrase a problem for common understanding. While not always original, they can be catchy for awhile. They enter our lexicon and loiter for awhile, only to get either used until they become stale, or eventually become meaningless. ‘Traditional thinking yields traditional results’. ‘It is what it is’. ‘We’ll pivot to lever our synergies’ <snort>. Speaking of traditional thinking, here’s an often used Commandment about…

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