Earnings season has been heating up for the cannabis sector and we have been keeping up with these reports on a company-by-company basis. Although these company quarterly reports have showed strong growth when compared to the prior quarter as well as the same quarter last year, price movements have been volatile and to the downside.
Today, we have highlighted 5 company earnings reports from last week and will monitor how other cannabis companies perform this earnings season.
5 Company Earnings Reports to Highlight:
- WeedMD Inc. (WMD.V) (WDDMF) has been trading mixed after reporting earnings on Thursday and we have been monitoring the Canadian cannabis producer. When compared to the same period last year, quarterly revenue increased by more than 450% and growth prospects look attractive heading into 2019.
- Radient Technologies Inc. (RTI.V) (RDDTF) has been coming off its lows and this comes after the company released second quarter financial results on Thursday. The cannabis extraction technology company has a strategic relationship with Aurora Cannabis (ACB.TO) (ACB) and this is an attractive aspect of the story. Although we prefer MediPharm Labs (LABS.V) (MLCPF) to Radient, this is a company that investors should be watching.
- LiveWell Canada Inc. (LVWL.CN) (LXLLF) has come off its lows following a solid first quarter earnings report and we have been monitoring this opportunity. LiveWell recently de-listed from the TSX Venture Exchange and commenced trading on the Canadian Stock Exchange to focus on CBD opportunities in the United States.
- Sunniva Inc. (SNN.CN) (SNNVF) was under pressure after releasing third-quarter financial results and we think the market underappreciates the growth prospects going forward. Sunniva is levered to the California and Canadian cannabis markets and is in the middle of a major expansion. The recent decline has been significant and Sunniva is well capitalized and well positioned heading into 2019.
- 1933 Industries Inc. (TGIF.CN) (TGIFF) has been trending lower after reporting strong fourth quarter financial results and we have been monitoring the Nevada cannabis company. During the year, the company generated more than $12 million in revenue and has benefit from the leverage to the Las Vegas cannabis market.