The GreenWave Buzz

our proprietary analysis and commentary on what’s relevant in the cannabis space 

Colorado’s Medical Marijuana Market Takes A Big Hit

  KEY POINTS For the third consecutive quarter, The Colorado Department of Revenue posted neg comps for cannabis both YoY and QoQ.  Q1:22 results -41% med / -13% rec YoY and  -23% med / -11% rec QoQ. The deceleration in revenue growth is consistent with what we...

Weeding Out the Illicit Market

Weeding Out the Illicit Market

  TAKEAWAY  We reviewed and analyzed cannabis confiscations and related activities that were published by various state and federal agencies that enables us to determine a floor value for the illicit market. Its growth seemingly outpaced that of the legal market post...

CASH IS KING – WHICH MSOs ARE MOST EFFICIENT?

CASH IS KING – WHICH MSOs ARE MOST EFFICIENT?

  KEY POINTS: With 3 years of public disclosures, we are better able to analyze and assess the financial and operational performance of the U.S. Multistate Operators (MSOs). The added costs of prohibition (most notably 280E tax, which, in some cases can trigger...

“MORE” IS LESS BUT BEWARE OF THE SNAKE IN THE “GRASS”

“MORE” IS LESS BUT BEWARE OF THE SNAKE IN THE “GRASS”

KEY POINTS: The eventual passage of the MORE Act mitigates several operational risks for cannabis businesses that touch the plant. The uncertainty around the timing of federal reform measures keeps valuations vulnerable to the impact of 280E. Most of the Multi-State...

Q ”4:20” and YE 2020 REVIEW

Q ”4:20” and YE 2020 REVIEW

KEY POINTS Now on the cusp of federal reform (timing of which is unknown), the cannabis industry appears at an inflection point with the growth prospects and legitimacy we outlined in 2014 beginning to materialize. Our review of a grouping of publicly traded MSOs for...

”MORE” TAX REQUIRED TO RID THE (IRS) SNAKE IN THE “GRASS”

”MORE” TAX REQUIRED TO RID THE (IRS) SNAKE IN THE “GRASS”

KEY POINTS: With two full years of public company disclosures, we provide a detail analysis that suggests a minimum federal excise tax of 10% upon the end of federal prohibition. The MORE Act currently includes a 5% excise tax (with a gradual increase to 8% over three...

Regardless of a Blue Wave, Here Comes the Green Wave!

Regardless of a Blue Wave, Here Comes the Green Wave!

  Our inaugural “GeenWave Report” (2014) indicates, “The overall growth in the U.S. legal marijuana industry is substantial and will be fueled by the implementation of additional legalized markets across the country as momentum continues in favor of changes to...

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