Investor
Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 449 -
Interview with Matt Markiewicz, Managing Director of the Cannabis ETF (NYSE: $THCX)
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2020/080420-StocksToWatch.mp3
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at https://www.investorideas.com/news/2020/cannabis-potcasts/08041Interview-Matt-Markiewicz-THCX.asp
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Today’s podcast overview/transcript:
Good
afternoon and welcome to another episode of Investorideas.com
"Potcast" featuring cannabis news, stocks to watch as well as
insights from thought leaders and experts.
In
today’s podcast Investorideas interviews Matt Markiewicz, the managing director
of The Cannabis ETF (NYSE: THCX), where we discussed some of the
portfolio’s recent earnings reports, how the last few months of COVID-19 have
impacted the ETF as well as expectations moving forward.
Markiewicz
commented on the last few months and how COVID-19 impacted the industry,
specifically focussing on how while the industry remains federally illegal in
the U.S. it was also deemed essential in most states where it is legalized.
“I
think we’ve started to see some optimism come back into the sector and I think
that’s shown through in the stock prices. After hitting that low in mid-March
the ETF is up close to 60% since then, and that’s not uncommon for many of the
other ETF’s. We have seen a nice rebound and we seem to have stabilized here in
that the ETF’s and the stocks seem to be trading sideways a bit. We have also
seen a bit of a decrease in volatility in the sector but it is summer and you
do have less market participants involved and we will still have to see how
things play out into the fall.”
Markiewicz
continued by discussing how this relates to some of the recent earnings
reports.
“In
terms of earnings. This (last week) was one of the first big weeks for Cannabis
earnings reports, we just had Aphria (NASDDAQ: APHA) and Scotts Miracle Gro (NYSE: SMG). The week of August 10th, up in
Canada, Canopy Growth (NYSE:CGC) and Tilray (NASDAQ: TLRY) report and then next week
(this week) we have Cronos and GW Pharmaceutical earnings as well. In the US on
the week of August 10th we get earnings reports from Colombia Care, Harvest,
Acreage, Trulieve and Greenthumb, so that’s going to be a major focus week for
cannabis in general. Who knows we might even have a renewed media focus on
cannabis earnings, which probably should be pretty encouraging based on the
sales levels we’ve seen in the past few months.”
Markiewicz
then went on to discuss in more detail Scotts recent earnings in more depth.
“For
Scotts Miracle Gro most people associate it with golf courses and fertilizer
for your house, but this is a company that is an ancillary play on the growth
of the US cannabis industry and the fact that its listed on the NYSE means that
many investors can buy the issue. It’s been holding in our portfolio since we
launched last July and is the 6th largest holding in the fund, just under 6%.
Scotts reported an absolute blockbuster quarter. Their division, Hawthorne
Gardening, where there are over 40 brands that are leveraged towards the US
cannabis industry which saw sales grow 72% year on year in the third quarter.
Well above what all analysts thought they’d deliver. To me there is also a very
positive readthrough from another company called GrowGeneration Corp. (NASDAQ:GRWG), who is one of the largest US
hydroponics stores, and GrowGeneration sells a lot of the brands that are under
the Hawthorne Gardening banner. So I think it’s an extremely strong readthrough
and a name that investors should keep an eye on. You have to remember that
there aren’t many stocks that have leverage to the US cannabis industry that
can be purchased by US institutional investors. Only about 9% of the publicly
traded cannabis market cap is owned by US institutional investors.”
Markiewicz
went on to discuss some of the other upcoming earnings reports and what market
expectations are so far as well as what investors should be looking for both in
the US and Canada over the next few months.
“After
seeing Organigram’s and Aphria’s earnings I’m not expecting any overly positive
surprises from any of these LP’s yet to report. The narrative at the beginning
of the year was it’s going to be a second half story once we see “2.0” sales
kick in and newer products hitting shelves. Obviously COVID has slowed that
down but the narrative continues to be more optimistic towards the second half
of the year. At what point though is the patience from investors going to wear
thin if that second half story doesn’t materialize. I think it’s very much a
“put up or shut up” time when the third quarter rolls around, for the Canadian
cannabis industry in particular.”
Markiewicz
went on to discuss in more detail some of the expectations for the US industry
over the next few months as well as the ETF’s views on the still very nascent
psychedelic industry.
The
Cannabis ETF was constructed to make investing in cannabis easier by helping investors
get exposure to a basket of stocks that are expected to benefit from growth of
the hemp and legal marijuana industries. To find out more visit their website
at https://thcxetf.com/.
Investor ideas reminds all
listeners to read our disclaimers and disclosures on the Investorideas.com
website and that this podcast is not an endorsement to buy products or services
or securities. Investors are reminded all investment involves risk and possible
loss of investment.
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