Psychedelics are the topic of today’s Trade to Black podcast. Host Shadd Dales, millennial entrepreneur Anthony Varrell, and lead financial writer Benjamin A. Smith put their heads together to discuss the Q3 and 9 months earnings report of Numinus Wellness (TSE: NUMI) ended May 31.
On the topline, the company reported a double-digit 12.6% increase from the previous quarter, bringing their total revenues to $6.0m, supported by a 2.7% increase in average number of appointments per operating day and and strong performance by Cedar Clinical Research. This is compared to approximately ¾ of a million a year ago. Net loss was $7.29m versus $7.01m CAD a year ago. For the nine months, sales were $17.05m. They were $2.32m CAD a year ago. They also have a $2 million cash burn every month.
What does this Q3 report say about the company’s position in the industry, and does it mean that Numinus Wellness is wasting money? They’ve been prioritizing scaling clinics over treatment. Has this affected their financial report, and what does it mean for investors? We’ve got plenty of thoughts to share.
We’ll also delve into cannabis news and examine some of the most recent happenings. Curaleaf plans to also list on TSX, following in TerrAscend’s footsteps, and likewise is also making plans to eventually list on NASDAQ. How good are TerrAscend’s chances in managing to get on the NASDAQ? Find out what we think.
With these TSX listings, will cannabis companies still need SAFE Banking to pass? The debate over Section 10 is slowing down movement in Congress. If you missed our podcast about what’s causing the latest roadblock on SAFE Banking’s approval, you may want to catch it here.
Lastly, we’ll talk a few stocks. Canopy Growth’s latest status is now as a penny stock – at 37 cents, no less. Could Canopy Growth still go bullish, or could this the right time to jump to AYR instead? AYR looks like it might be undervalued, and we’ll explain why.
How are the other cannabis stocks performing in comparison? We’ll share the latest.