Earnings season for the cannabis industry is well underway and during the last week, several high-profile cannabis companies have reported quarterly financial results. So far, these results have been impressive and have showed strong growth when compared to the same period last year.
Although the quarterly results have showed strong growth on a comparative basis, some companies have reported numbers that were well below expectations and the market has responded negatively to this.
During the last year, the cannabis industry has gained incredible traction as new markets have opened and company valuations have significantly increased as a result of this. We believe that 2019 will be a year where companies need to back up these valuations with results. Due to this belief, we have been focused on companies that have been recording significant growth and that are attractively valued.
We have been closely monitoring the performance of cannabis companies following the release of quarterly financial results and have been noticing interesting trends. Today, we have highlighted 4 cannabis companies that recently reported earnings and believe that these are opportunities that investors should be watching.
1933 Industries: A Cannabis Company to be Watching
Las Vegas is one of the most exciting cannabis markets in the United States and is a market that we have been favorable on. 1933 Industries Inc. (TGIF.CN) (TGIFF) has a first mover advantage when it comes to the Las Vegas cannabis market and has been capitalizing on this burgeoning opportunity.
Earlier this week, 1933 Industries released second quarter financial results and these numbers showed impressive growth on a comparative basis. We are favorable on the improving fundamentals and believe that this is an important trend to be following. The company is well capitalized and reported to have more than $8.8 million in cash and $54 million of