The Highlights
Global equities finished the holiday-shortened week lower. The MSCI World Index declined 2.01%, while the S&P 500 fell 1.42%. This snapped a six-week winning streak for the S&P 500, which is still up 13.25% YTD. NASDAQ dropped 1.44%, while the Russell 2000 got hit hardest, down 2.89% on the week, and is now up just 3.43% YTD. This year has been a large-tech-driven rally (NASDAQ is +28.91% YTD), while small caps have not participated as much. After a strong first few days of the week, cannabis stocks sold off on Friday and the US cannabis-focused MSOS ETF ended the week +0.55%. The global YOLO ETF was –3.76%, as Canopy Growth (NASDAQ: CGC) and other Canadian names continue to underperform. Among the MSO names, Jushi (CSE: JUSH, OTCQX: JUSHF) led the way at +7.77%, while Cresco (CSE: CL, OTCQX: CRLBF) dropped the most at -5.33%. TerrAscend’s Big Week of Approvals TerrAscend (CSE: TER, OTCQX: TRSSF) received regulatory approval for the acquisition of Peninsula Alternative Health in Salisbury, Maryland on Monday. This top-performing medical dispensary is expected to become one of TerrAscend’s highest-grossing locations when Maryland flips to adult-use sales on July 1. Located near the Delaware border, it’s a large 8,500-square-foot store and there are no other dispensaries within a 25-mile radius. TerrAscend paid $22 million for the dispensary, including $1.5 million in cash. It has a new cultivation and manufacturing facility in Hagerstown, which allows it to be vertically integrated and sell brands like Kind Tree, Gage, Cookies, and Wana through its two Maryland stores. This is TerrAscend’s 35th dispensary nationwide. Jason Wild, Executive Chairman of TerrAscend, commented on Twitter, “It does more sales than most operators in Maryland do with 4 stores. Plus, it leaves us with two slots open under the four-store cap!”
Water Tower Research is built on the foundation of democratizing information flow. We bridge the growing information gap between companies and investors through our investor engagement strategies and open-access research platform.
Our research analysts are Wall Street veterans with the experience and knowledge to work with companies and investors in tandem. We provide access to the information and content that anchors the due diligence process for both professional money managers and individual investors. We leverage traditional research distribution channels and the best of modern digital strategies and tactics to amplify this information flow globally to engage all categories of investors and stakeholders.
Information flow is the foundation for creating investor awareness, knowledge, and engagement. Our mission is to help companies and investors have the tools they need and achieve their goals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.