Cannabis stocks offer an excellent entry point after a procedural pause in the DEA rescheduling hearing triggered near-panic selling. The industry has never been closer to rescheduling and resolving custody and uplisting issues, and it recently refinanced its debt on excellent rate and duration terms. The pause until October 13 may delay rescheduling somewhat but is unlikely to derail it, and institutional investors should begin entering over the rest of the year. x.com 

Cronos Group is one of the easiest longs in the market as higher-margin Israel and Germany sales lift gross profit without excise taxes. Q2 revenue rose 58% to $53M and adjusted EBITDA to $13.1M from $1.7M; gross profit nearly doubled. Spinach is Canada's #2 cannabis brand and #1 in edibles and vapes. CanAdelaar adds a leading Dutch adult-use pilot position at ~1.4x annualized revenue. Q2's $827M in cash, investments and deposits against $62M in liabilities and buybacks support per-share upside. … Show more

MSOS's underlying cannabis operators burn cash, dilute shareholders frequently and have poor management, so waiting for US regulatory reform still entails substantial time decay. x.com 

Enforcement of hemp/THCA restrictions is critical to reshaping the cannabis industry and could be its next major lever. The view follows observations in wholesale hemp/THCA distribution, without specifying what those observations showed. x.com 

Cannabis is the least efficient pocket of the market, an opportunity for patient retail investors because long-term institutions and money managers do not yet care about the sector. That is why the stocks did not jump on rescheduling. @aaronvalue adds that so few eyeballs are on the space that investors face almost zero competition. x.com 

British American Tobacco carries cannabis optionality that few big companies admit to, and Big Tobacco will lean into cannabis hard rather than pull back. BAT describes a "foothold in the cannabis space" that is "several years away from being a meaningful contributor". @UseThouBrain, in the post being answered, backs Organigram on the view that BAT's idea of meaningful means billions, backed by patent-pending non-combustible IP; that is a different bet, far down the field, but not a bad one. … Show more

Cronos is one of the best value stocks because cash covers most of its market cap while operations improve. Its $827 million of cash is 65% of a $1.27 billion market cap, the industry's best balance sheet, with net tangible assets of $1.05 billion. Q2 revenue rose 51% in constant currency, gross margin reached 53% from 43%, and it earned $0.09 a share with $0.06 of free cash flow per share. GrowCo is fully online with more efficiency gains expected, and buybacks continue. x.com 

Cronos looks worth more than a below-liquidation valuation. A quoted post from a GrowCo site visit describes a large, professionally run operation and calls the JV partnership with the Mucci family, agriculture masters running it like a pharmaceutical lab, the most overlooked part of the thesis. x.com 

High Tide's lead in Canadian cannabis retail is widening toward a position competitors can hardly catch, yet it trades at about 5x EV/EBITDA. 23% of Canadian consumers now say Canna Cabana is the retailer they shop most often, more than double the next competitor's 11%. Its loyalty and discount model concentrates frequent users, so rivals must overcome both physical scale and an entrenched customer base, and High Tide is using its Canadian strength to grow internationally. x.com 

Aurora Cannabis merger-arbitrage is harder now because the initial bid-bump opportunity has passed. The shares still trade surprisingly tight in this market; if another bidder comes over the top, the event opportunity opens again. x.com  x.com