Scott R. Grossman
Founder of Vindico Capital, Consumer-Sector Investor
Glass House Brands' six-million-square-foot grow is unlikely to be replicated because of the time, capital and poor economics a rival would face. It would take more than five years and likely $300 million to $500 million just to have the conversation; even then, the math would not work. Uncertainty remains hard to model. x.comÂ
Glass House Brands' stronger balance sheet gives its interstate and export option more time to play out. It raised roughly $30 million in under four months, including $28.1 million in Q3 while issuing about 7.1 million shares, and has no near-term maturities or cash-flow needs. Glass House says it has turned off its ATM. Management has lost investor confidence, but Q3 numbers alone did not warrant an 80% drawdown; its valuation now looks pretty close to greenhouse and land replacement cost. x.com x.com x.com x.com x.com x.com x.comÂ
