Mike Regan, Director of Research at Excelsior Equities, has published a 70 page white paper titled “North American Cannabis Sector: 2023 is the Turn: Secular Growth with Positive Cyclical trends at Trough Valuations – But Watch Out for Leverage & Taxes”.
The report analyzes the long term secular growth story, the shorter term cyclical trends, new metrics to adjust for taxes, valuations, leverage levels, and the potential impacts of possible federal legal changes from rescheduling/descheduling, SAFE Banking, and potential Interstate Commerce.
The report is available to institutional investors and corporate banking clients of Excelsior Equities. To request access to the report, submit a request below.
Companies mentioned in the report include:
American Marijuana firms:
- 4Front (FFNTF / FFNT.CN)
- Acreage Holdings (ACRHF / ACRDF)
- Ascend Wellness (AAWH)
- AYR Wellness (AYRWF / AYR-A.CN)
- Columbia Care (CCHWF / CCHW.NE)
- Cresco Labs (CRLBF / CL.CN)
- Curaleaf Holdings (CURLF / CURA.CN)
- Glass House Brands (GLASF / GLAS-A.NE)
- Goodness Growth Holdings (GDNSF / GDNS.CN)
- Green Thumb Industries (GTBIF / GTII.CN)
- Jushi Holdings (JUSHF / JUSH.CN)
- Marimed (MRMD)
- Planet 13 (PLNHF / PLTH. CN)
- Schwazze (SHWZ)
- TerrAscend (TCNNF / TSND.TO)
- Verano Holdings (VRNOF / VRNO.CN)
Canadian Marijuana Firms:
- Aurora Cannabis (ACB)
- Canopy Growth (CGC / WEED.TO)
- Cronos Group (CRON / CRON.TO)
- High Tide (HITI / HITI.V)
- Organigram (OGI)
- SNDL (SNDL)
- Tilray (TLRY)
- Village Farms International (VFF)
Ancillary Cannabis Products & Services Providers:
- GrowGeneration (GRWG)
- Hyrdofarm (HYFM)
- Leafly (LFLY)
- POSaBIT Systems (POSAF / PBIT.CN)
- Scotts Miracle-Gro (SMG)
- urban-gro Inc (UGRO)
- WM Technologies (MAPS)