Canaccord analyst is wrongThey just through numbers, read this report, seems way to low for quarter four. My guess is they are trying not to have the stock run up to much.
People do your own DD, even these f @ ck ing analyst are anal when it comes to TILT.
TILT Holdings Inc. (CSE: TILT) (OTCQB: TLLTF) has closed an additional private placement of $10.2 million of senior secured notes from a syndicate consisting of existing shareholders and new investors, bringing to the total amount of the facility to $35.8 million, up from the previously announced maximum of $35 million.
“On the heels of the announcement of our outstanding Third Quarter financial results and earnings call yesterday, the closing of this additional financing only further illustrates the positive momentum TILT is experiencing as an organization and the growing confidence the investment community has in our refocused business plan,” said interim CEO Mark Scatterday. “We plan to use this additional funding to propel our growth into the new year and continue to invest into the operations of our core assets. The fact that the financing was oversubscribed only further speaks to the positive sentiment major investors are feeling towards what we’re accomplishing at TILT.”
While Tilt has been quick to note that the company has reported net income for the quarter, unlike many other cannabis companies, it still isn’t completely out of the woods. Canaccord Genuity analyst Bobby Burleson pointed out that the company will continue to face vape headwinds. Jupiter is 70% of the company’s revenue and while sales have rebounded, Burleson said he expects the company crisis to continue to have an effect on fourth-quarter sales. Especially the ban that was recently lifted in Massachusetts.
“We believe TILT’s Q3/19 earnings result reflects solid execution of management’s strategy to enhance profitability and grow the company’s core businesses. While we are trimming our near-term estimates on vape related headwinds, with a shored up balance sheet and overall profitability driven by the company’s Massachusetts wholesale business, we continue to expect strong growth and enhanced profitability next year. We are lowering our price target to C$1.50 from C$2.00 on valuation while we maintain our SPECULATIVE BUY rating.”
Revenue estimates for the fourth quarter were slashed from C$83 million to C$47 million. Full-year 2019 revenue estimates were lowered from C$214 million to C$167 million and 2020 estimates were cut from C$442 million to C$392 million. 2019 fourth-quarter EBITDA was dropped from $10.8 million to $4.2 million.
https://www.greenmarketreport.com/tilt-secures-more-funding-not-out-of-the-woods-yet/