Be prepared for $1.00 With the banking crisis and debt ceiling debacle, and I'm sure the dismal Q4 results later this month, it's inevitable.
No doubt STZ etc are probably orchestrating this blatant manipulation.
Seems to be for the debt due in July. Don't ask me because I really have no clue how it all works.
Once this is resolved, I would hope that any market positives from the sector, we will move with it.
CGC has about 1 billion in revenue.
400 m CAD
240 m Acreage Ebita +
150 m Wana- just a guess as someone posted it on Twitter
30 m Jetty- no clue really
32 m Terascend
So that brings us to just over 1 billion when all entities combined. To think if Safe passes by the end of year, CGC will be able to combine all...
Tenative timeline for Safe (according to BoJo) is as follows:
Senate banking meeting mid May..
Senate vote by July
Sending it to House in September( after August recess) possible vote in October, and signed into law before December 15th as this is the end of current session.
Acreage deal is supposed to be finalized Q4/Q1 2024
So imagine they announce that deal is done, and safe is passed. They would be able to consolidate all revenue going forward in Q3/Q4 of 2024...Combined with the fact that they might be cash flow positive as they reiterated for 2024 in Canadian Operations..This time next year, could look very different.
Throw in the Garland Memo, and well.. Becerra resheduling news.. it's been 7 months.. so it's coming eventually.
However, as someone posted earlier..
Biosteel might be having some hiccups. I hope Micheal from Piper is wrong because last quarter BioSteel was "lumpy" and according to him, there is a lot of pressure. But if you read the last Quarterly Release from Canopy, they suggested that something was up 20% YTD.
So yeah. While everyone is bashing CGC, and rightfully so in some circumstances, but it cannot be ignored that they have a lot of revenue they cannot account for. It's like the market completely forgot about that. The asset light model in Canada seems to be the right decision. It's also what they want to do in the states.
sorry for the long post.