Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>US cannabis stocks climbed higher last week, with the US cannabis MSOS ETF gaining 5.15%, while the global YOLO ETF lost 2.04%.</li><li>Among the larger MSOs, Verano (NEO: VRNO, OTCQX: VRNOF) had the best week, jumping 9.84%.</li><li>Verano rose after sharing it authorized a $50 million share repurchase program on Monday. </li></ul>

US cannabis stocks climbed higher last week, with the US cannabis MSOS ETF gaining 5.15%, while the global YOLO ETF lost 2.04%.Among the larger MSOs, Verano (NEO: VRNO, OTCQX: VRNOF) had the best week, jumping 9.84%.Verano rose after sharing it authorized a $50 million share repurchase program on Monday. 

The Highlights - Cannabis News for the Week Ending June 21, 2024

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A monthly review of how the markets and our themes are currently performing</li>
<li>Analysing what went wrong and what went right in stocks and sectors</li>
<li>Highlighting positions added or removed from the thematic investment portfolio</li>
</ul>


A monthly review of how the markets and our themes are currently performing
Analysing what went wrong and what went right in stocks and sectors
Highlighting positions added or removed from the thematic investment portfolio


<ul><li>Despite relatively strong earnings, the US cannabis MSOS ETF fell 3.52%, while the global YOLO ETF dropped 2.21%.</li><li>With four of the five Tier 1 MSOs reporting, on average they have beaten revenue consensus by 2.27% and adjusted EBITDA consensus by 9.15%. See page two for more details on Tier 1 earnings results.</li><li>Verano (NEO: VRNO, OTCQX: VRNOF) reported better-than-expected results last week and Co- Founder, Chairman, and CEO George Archos joined us on Higher Exchanges. </li></ul>

Despite relatively strong earnings, the US cannabis MSOS ETF fell 3.52%, while the global YOLO ETF dropped 2.21%.With four of the five Tier 1 MSOs reporting, on average they have beaten revenue consensus by 2.27% and adjusted EBITDA consensus by 9.15%. See page two for more details on Tier 1 earnings results.Verano (NEO: VRNO, OTCQX: VRNOF) reported better-than-expected results last week and Co- Founder, Chairman, and CEO George Archos joined us on Higher Exchanges. 

The Highlights - Cannabis News for the Week Ending May 10, 2024

<ul><li>Poseidon co-founders Emily and Morgan Paxhia joined us on the Water Tower Hour podcast to discuss the rescheduling news.</li><li>Those interested can listen to this podcast on Apple Podcasts, Spotify, or on our website.</li><li>On April 30, 2024, the DEA reportedly agreed with the HHS recommendation to reclassify cannabis from Schedule I to Schedule III. </li></ul>

Poseidon co-founders Emily and Morgan Paxhia joined us on the Water Tower Hour podcast to discuss the rescheduling news.Those interested can listen to this podcast on Apple Podcasts, Spotify, or on our website.On April 30, 2024, the DEA reportedly agreed with the HHS recommendation to reclassify cannabis from Schedule I to Schedule III. 

Water Tower Hour Recap - Cannabis Rescheduling Review with Poseidon

<ul><li>The US cannabis MSOS ETF broke a two-week slide and gained 9.51% over the last five sessions.</li><li>The week was shaping up to be negative, until optimism around federal reform caused MSOS to jump 14.91% on Friday.</li><li>This was the biggest one-day return since September 5 and 14.58 million shares traded is the most since September 15.</li></ul>

The US cannabis MSOS ETF broke a two-week slide and gained 9.51% over the last five sessions.The week was shaping up to be negative, until optimism around federal reform caused MSOS to jump 14.91% on Friday.This was the biggest one-day return since September 5 and 14.58 million shares traded is the most since September 15.

The Highlights -  Cannabis News for the Week Ending March 15, 2024

United States

The AdvisorShares Pure US Cannabis ETF is an actively managed exchange-traded fund incorporated in the USA.  The fund seeks to seeks long-term capital appreciation by investing in the US Cannabis industry.

AdvisorShares Pure US Cannabis ETF (MSOS US)

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AdvisorShares Pure US Cannabis ETF (MSOS US)

The Highlights - Cannabis News for the Week Ending June 21, 2024

US cannabis stocks climbed higher last week, with the US cannabis MSOS ETF gaining 5.15%, while the global YOLO ETF lost 2.04%.

Water Tower Research

May Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

The Highlights - Cannabis News for the Week Ending May 10, 2024

Verano (NEO: VRNO, OTCQX: VRNOF) reported better-than-expected results last week and Co- Founder, Chairman, and CEO George Archos joined us on...

Water Tower Research

Water Tower Hour Recap - Cannabis Rescheduling Review with Poseidon

Poseidon co-founders Emily and Morgan Paxhia joined us on the Water Tower Hour podcast to discuss the rescheduling news.

Water Tower Research

The Highlights - Cannabis News for the Week Ending March 15, 2024

The week was shaping up to be negative, until optimism around federal reform caused MSOS to jump 14.91% on Friday.This was the biggest one-day...

Water Tower Research

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