Water Tower Hour Recap
TerrAscend (TSX: TSND, OTCQX: TSNDF) is a leading North American cannabis company with operations in Pennsylvania, New Jersey, Michigan California, Maryland, and Canada. The company operates The Apothecarium and Gage dispensaries and is vertically integrated with cultivation, processing, and manufacturing facilities in its core markets. The firm is known for its outstanding senior-leadership team headed by Executive Chairman Jason Wild, CEO Ziad Ghanem, and CFO Keith Stauffer. Cannabis is a complicated industry where the phrase “bet on the jockey, not the horse” is highly applicable. Jason Wild and Ziad Ghanem joined us on The Water Tower Hour podcast to discuss the proactive measures the firm has taken to make 2023 and beyond a success. TerrAscend is up 48% YTD, while the MSOS ETF is down 18%, showing investors have appreciated the efforts. Wild began the episode by explaining why the firm began aggressively restructuring its balance sheet last year and how those measures have become increasingly important with SAFE Banking still on the wish list. The ability to survive without political progress is becoming increasingly important across the cannabis industry. Ghanem walked us through the operational improvements TerrAscend has made in Michigan. Scale and efficiency are critical in these open-license states and TerrAscend leads MSOs with 18 Michigan stores. Maryland is the most-important new market in 2023 and flipped to adult-use sales on July 1st. TerrAscend worked throughout June to find the right opportunities to meet the state-maximum of four dispensaries and Ghanem shares why he feels they have the best assets in Maryland. TerrAscend recently uplisted to the Toronto Stock Exchange (TSX) and Wild shared he anticipated benefits of the uplisting. The conversation concludes with Jason’s thoughts for fatigued cannabis investors and the characteristics he would look for in cannabis investments. You can listen to the episode on Apple Podcasts, Google Podcasts, Spotify, or on our website.
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