Shares in iAnthus fell 62% after the “deeply unprofitable” MSO defaulted on its debt.
Seeking Alpha
- At Seeking Alpha analyst Jon Cooper says the company will likely need to renegotiate with its creditors, a process complicated by iAnthus currently suing one of its creditors.
- MJ Biz wrote up the suit against Texas-based Oasis Investments.
- iAnthus stock is currently trading around $.19 per share.
- iAnthus’ main dispensary brand is Be. It recently became the first dispensary to open in New York City’s Staten Island.
- The company also announced it is investigating potential conflicts of interest regarding CEO Hadley Ford.
- Equity Guru suggests the default could be a “tactic.”
- WeedWeek interviewed iAnthus CEO Hadley Ford a few months ago.
- The company’s largest creditor is Gotham Green Partners which has close ties to Canadian producer Cronos Group and has renegotiated MedMen‘s debt several times.
- Do you have additional information? Email me at alex@weedweek.net. Sources will be protected.
At New Cannabis Ventures, Alan Brochstein looks at what the pandemic means for pot stocks.
Grizzle sees a potential bull market in “booze, smokes and pot.”
Quick Hit
- California operator Caliva launched its new delivery service independent of former partner Eaze.
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