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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.

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Thematic (Sector/Industry)

<ul>
<li>Global equities finished the holiday-shortened week lower.</li>
<li>The MSCI World Index declined 2.01%, while the S&amp;P 500 fell 1.42%.</li>
<li>This snapped a six-week winning streak for the S&amp;P 500, which is still up 13.25% YTD.</li>
</ul>


Global equities finished the holiday-shortened week lower.
The MSCI World Index declined 2.01%, while the S&amp;P 500 fell 1.42%.
This snapped a six-week winning streak for the S&amp;P 500, which is still up 13.25% YTD.


Industry Report - Cannabis News for the Week Ending June 23, 2023

<ul><li>A pause in interest rate hikes drove global equities higher.</li><li>Last week, the MSCI World Index gained 2.64%, while the S&amp;P 500 increased 2.22%.</li><li>The S&amp;P 500 earned its fifth consecutive positive week and is now 24.68% off its October 12, 2022, low.</li></ul>

A pause in interest rate hikes drove global equities higher.Last week, the MSCI World Index gained 2.64%, while the S&amp;P 500 increased 2.22%.The S&amp;P 500 earned its fifth consecutive positive week and is now 24.68% off its October 12, 2022, low.

The Highlights : Cannabis News for the Week Ending May June 16, 2023

Equity Bottom-Up

<ul><li>MariMed opened a Thrive Wellness medical dispensary in Tiffin, Ohio. This is its first operational Ohio store, and MariMed now owns or manages 11 dispensaries in five states.</li><li>Tiffin is in Seneca County, which has more than 54,000 residents and is home to almost 5,000 students at Tiffin University.</li><li>MariMed’s dispensary is the only store in the Tiffin area. The closest competitor is 30 minutes away in Fremont, Ohio.</li></ul>

MariMed opened a Thrive Wellness medical dispensary in Tiffin, Ohio. This is its first operational Ohio store, and MariMed now owns or manages 11 dispensaries in five states.Tiffin is in Seneca County, which has more than 54,000 residents and is home to almost 5,000 students at Tiffin University.MariMed’s dispensary is the only store in the Tiffin area. The closest competitor is 30 minutes away in Fremont, Ohio.

<ul><li>Columbia Care (NEO: CCHW, OTCQX: CCHWF) reported 1Q revenue of $124.5 million, down 1.3% Q/Q and up 1.2% Y/Y.</li><li>This beat consensus of $123.0 million. The revenue increase was driven by three new stores and strength in its New Jersey, Virginia, and West Virginia operations.</li><li>1Q adjusted EBITDA declined to $16.4 million from $17.4 million in 4Q. This was below consensus of $17.4 million.</li></ul>

Columbia Care (NEO: CCHW, OTCQX: CCHWF) reported 1Q revenue of $124.5 million, down 1.3% Q/Q and up 1.2% Y/Y.This beat consensus of $123.0 million. The revenue increase was driven by three new stores and strength in its New Jersey, Virginia, and West Virginia operations.1Q adjusted EBITDA declined to $16.4 million from $17.4 million in 4Q. This was below consensus of $17.4 million.

The Highlights : Cannabis News for the Week Ending May 19, 2023

<ul><li>Global equities fell last week, as investors digested the latest CPI data and debt ceiling news. The MSCI World Index dropped 0.51%, while the S&amp;P 500 fell 0.25%.</li><li>The small-cap Russell 2000 slid 1.00%, while the NASDAQ bucked the trend and gained 0.40%.</li><li>After two strong weeks, cannabis stocks got crushed. The MSOS ETF ended -17.71% and blue-chip operator Trulieve was down 29.02% last week.</li></ul>

Global equities fell last week, as investors digested the latest CPI data and debt ceiling news. The MSCI World Index dropped 0.51%, while the S&amp;P 500 fell 0.25%.The small-cap Russell 2000 slid 1.00%, while the NASDAQ bucked the trend and gained 0.40%.After two strong weeks, cannabis stocks got crushed. The MSOS ETF ended -17.71% and blue-chip operator Trulieve was down 29.02% last week.

The Highlights : Cannabis News for the Week Ending May 12, 2023

United States

MariMed, Inc. operates as a pharmaceutical company. The Company specializes in designing, development, operation, funding, and optimization of medical cannabis cultivation, production centers, and dispensaries. MariMed serves customers in the State of Massachusetts.

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MariMed (MRMD US)

Industry Report - Cannabis News for the Week Ending June 23, 2023

Global equities finished the holiday-shortened week lower. The MSCI World Index declined 2.01%, while the S&P 500 fell 1.42%.

Water Tower Research

The Highlights : Cannabis News for the Week Ending May June 16, 2023

A pause in interest rate hikes drove global equities higher. Last week, the MSCI World Index gained 2.64%, while the S&P 500 increased 2.22%.

Water Tower Research

MariMed Opens First Ohio Dispensary

MariMed opened a Thrive Wellness medical dispensary in Tiffin, Ohio. This is its first operational Ohio store, and MariMed now owns or manages 11...

Water Tower Research

The Highlights : Cannabis News for the Week Ending May 19, 2023

Columbia Care (NEO: CCHW, OTCQX: CCHWF) reported 1Q revenue of $124.5 million, down 1.3% Q/Q and up 1.2% Y/Y. This beat consensus of $123.0 million.

Water Tower Research

The Highlights : Cannabis News for the Week Ending May 12, 2023

After two strong weeks, cannabis stocks got crushed. The MSOS ETF ended -17.71% and blue-chip operator Trulieve was down 29.02% last week.

Water Tower Research

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