RE:Valens I mentioned this a few months back on here. The issue with CO2 is speed. 'Croptober" savings weren't going to show up on Valens balance sheet until late Q1/Q2 due to the biomass they had already acquired which at the time was great prices and by the end was grossly overvalued.
The oil glut is in premium priced products and price collapse has happened so rapidly that formerly middle road products are now considered premium priced. If Valens liquidate they eat the loss and start from a better value offering. If they didn't they'd of produced products at a collapsing margin/loss for months before getting to their croptober purchase which would've become less of a value proposition as price continues to collapse.
Nextleaf's ability to process bulk qualtities at speed is a grossly undervalued feature buffering them from such issues. Cannabis is a commodity.
Partheniou says that input prices might go lower with the harvest of outdoor crops and adds, “we envision VLNS benefitting from this years’ outdoor harvest through higher margins. Nevertheless, this may take some time to flow through the company’s P&L as it works through its roughly ~6 months of inventory.”
https://thedeepdive.ca/valens-analysts-reiterate-price-targets-ratings-following-q3-results/