Key Takeaways; Cannabis Sector

• Green Thumb will have a conference call to discuss its Q4 and full 2022 earnings on February 28, 2023.
• High Tide Q4 revenue rose 14% to C$108 million.
• SNDL completed the acquisition of The Valens Company.
• Columbia Care opened new Cannabist dispensary in Hampton, Virginia.

Key Takeaways; Psychedelic Sector

• Awakn’s lead clinical psychologist joined a podcast to discuss the revolutionary addiction treatments being developed by Awakn.

The stock market had a robust month in January 2023, with all of the major indices posting significant gains. This indicates that despite the Federal Reserve raising interest rates by 0.25% on Wednesday to fight inflation and ward off the possibility of a recession, investors have grown more optimistic about the outlook for the economy and are making significant stock investments.

In the cannabis sectors, stocks had a strong January and are now rising to new highs in February. The Cannabis Stock Index has increased by 14.1% in 2023, which is well ahead of the S&P 500’s gain of 7.7%. The psychedelic stocks are also up significantly this year, and things just got better last week when Australia became the first nation in the world to recognize psychedelics as medicines after the Therapeutic Goods Administration (TGA) approved psychedelic substances used in MDMA and magic mushrooms.

Below is a review of the companies that dominated the news in the cannabis and psychedelic industries during the first month of the year.

Top Marijuana Companies for Week

#1: Green Thumb

The stock price of Green Thumb Industries (OTC: GTBIF) has increased by more than 15% in February 2023, marking a solid start to the year. This substantial rise followed the company’s announcement that its fourth quarter and full year 2022 results conference call will be held on February 28, 2023. The company is anticipated to give an update on its operations, financial performance, and outlook for the future during this call.

Analysts are expecting Green Thumb to report strong earnings growth for the quarter and full year, driven by continued strong demand for its products and services. They are forecasting the company to report fourth quarter revenue of $263 million, up from $202 million in the same period last year. This would represent an over 24% year-over-year increase in revenue. In addition, analysts are expecting Green Thumb to report full year 2022 revenue of $1.1 billion, up from $845 million in 2021. This would represent a 30% year-over-year increase in revenue.

On the bottom line, analysts are expecting Green Thumb to report fourth quarter earnings per share (EPS) of $0.02, down from $0.11 in the same period last year. And for the full year 2022, analysts are expecting the company to report EPS of $0.36, up from $0.34 in 2021. This would represent almost 6% year-over-year increase in EPS.

Overall, analysts are expecting Green Thumb to report strong fourth quarter and full year 2022 earnings, driven by continued strong demand for its products and services.

#2: High Tide

High Tide Inc. (NASDAQ: HITI), an Alberta-based, retail-focused cannabis corporation, reported its fourth quarter and full year 2022 earnings results on Tuesday, January 30, 2023. The company reported a record fourth quarter revenue of $108.2 million and record adjusted EBITDA of $5.0 million. As for the full year, ended October 31, 2022, the company reported revenue of $356.9 million, which represented an increase of 97% year-over-year. According to the company, this record revenue was driven by strong performance in both the retail and wholesale divisions of the Company.

High Tide also achieved record Adjusted EBITDA of $5.0 million in the fourth quarter of 2022, an increase of $2.2 million or 77% over the prior year quarter. For the year ended December 31, 2022, the Company reported record Adjusted EBITDA of $14.8 million, an increase of $7.3 million or 97% over the prior year.

“High Tide’s record fourth quarter and full year 2022 financial results demonstrate the strength of our business model and the success of our strategic initiatives,” said Raj Grover, President and Chief Executive Officer of High Tide. “We are proud of our accomplishments in the past year, and we are well positioned to continue to deliver strong financial performance in the future.”

Looking ahead, High Tide Inc. expects to continue to benefit from its strong growth in the retail and wholesale segments. The company also plans to continue to invest in its e-commerce capabilities and expand into new markets.

#3: SNDL

SNDL Inc. (NASDAQ: SNDL), a leading cannabis and hemp-derived products company, announced the completion its acquisition of The Valens Company, a leading manufacturer and distributor of cannabis products.

The acquisition of The Valens Company is a strategic move for SNDL, as it will enable the company to expand its product offering and reach new markets. The combined company will have a presence in Canada, the United States, and Europe, with the potential to expand into other markets. The acquisition will also provide Valens with access to SNDL’s extensive distribution network, allowing them to reach more customers. Additionally, the companies will benefit from shared expertise and resources, as well as a larger customer base.

#4: Columbia Care

Columbia Care Inc. (OTC: CCHWF), a leading medical cannabis company, announced that it has opened a new cannabist dispensary in Hampton, Virginia. The new store is located at the Hampton Town Center. The store will offer a variety of cannabis products, including flower, edibles, concentrates, and topicals.

The opening of Columbia Care’s new cannabist in Hampton, Virginia marks a major milestone in the state’s medical marijuana program. According to the company, the new facility will provide access to medical marijuana products to qualified patients in the Hampton Roads area and will be the first of its kind in the state.

The company also stated that the new facility will provide a safe and secure environment for patients to access medical marijuana products. It will also provide education and support to patients and their families, as well as provide a safe and secure environment for the purchase and use of medical marijuana products. The facility will also be staffed by highly trained and knowledgeable staff, who will be able to answer questions and provide guidance to patients.

Top Psychedelic Company for Week

#1: Awakn

Laurie Olivia, lead clinical psychologist at Awakn Life Sciences Corp. (NEO: AWKN) (OTC: AWKNF) recently joined the We Are Wednesdays podcast to discuss the revolutionary treatments for addictions that Awakn is developing.

During the podcast, Laurie discussed the importance of understanding the underlying causes of addiction, and how Awakn’s treatments are designed to address these causes. She highlighted the fact that addiction is a complex condition and that there is no one-size-fits-all approach to treating it. She also discussed the importance of providing personalized care and support to people with addictions, which is something that Awakn’s treatments are designed to do.

Laurie also discussed the importance of providing access to evidence-based treatments, such as cognitive behavioral therapy, which is something that Awakn is doing. She highlighted the fact that these treatments can be effective in helping people to manage their addictions and to make positive changes in their lives.

Overall, Laurie’s discussion on the We Are Wednesdays podcast was a great insight into the revolutionary treatments for addictions that Awakn is developing. It is clear that Awakn is committed to providing evidence-based treatments that are tailored to the individual needs of people with addictions, and this is something that should be applauded.