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MSOS

AdvisorShares Pure US Cannabis ETF

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Price

$10.65

$-0.36 (-3.27%) Today

Mentions (24Hr)

5

-28.57% Today

Volume

$831.2K

Avg Volume

$1M

Market Cap

$

52 Week High

$41.389

52 Week Low

$10.575

Day High

$11.12

Day Low

$10.575

Previous Close

$11.01

7 Days Mentions

21

Reddit Posts

r/weedstocksSee Post

HEXO earnings, share-based compensation and the daylight robbery that is the Canadian cannabis market.

r/wallstreetbetsSee Post

What does good during a recession?

r/weedstocksSee Post

ETF Managers Group Sues AdvisorShares Over Its Cannabis ETF’s Name

r/weedstocksSee Post

Rumors Of Fund Liquidation Send The AdvisorShares Pure US Cannabis ETF (MSOS) To New Lows

r/stocksSee Post

When is a good time to sell your losers?

r/weedstocksSee Post

MSOS Portfolio Manager Dan Ahrens On SAFE Banking (Includes Up listing prospects & 280E)

r/weedstocksSee Post

MSOS portfolio Manager Dan Ahrens On SAFE Banking (includes Up listing Prospects and 280E)

r/weedstocksSee Post

MSOS Portfolio Manager Dan Ahrens On SAFE Banking (Up listing Prospects and 280E)

r/wallstreetbetsSee Post

Where can I buy Marijuana stocks?

r/weedstocksSee Post

Which ETF is a better buy: MJ or MSOS?

r/wallstreetbetsSee Post

I know that cross posts aren’t allowed here. But this one…

r/wallstreetbetsSee Post

US canna stocks vs. CANADA canna stocks - who would benefit from possible Federal legalization?

r/ShortsqueezeSee Post

Trulieve 100 days to cover

r/weedstocksSee Post

Is MSOS still buying/do they have any cash left?

r/weedstocksSee Post

Anyone still buying during the slaughter

r/SPACsSee Post

The Bearish Case For $LFLY / Leafly ⬇️

r/stocksSee Post

Is $LFLY / Leafly way overvalued and a BIG short?

r/stocksSee Post

Should I sell winning positions to average down my losers?

r/optionsSee Post

Income-driven ETF strategies

r/StockMarketSee Post

How to Invest in Cannabis in 2022 | Interview with Dan Ahrens | AdvisorShares | MSOS ETF

r/weedstocksSee Post

How to Invest in Cannabis in 2022 | Dan Ahrens | Porfolio Manager | AdvisorShares | MSOS ETF

r/weedstocksSee Post

The Promise

r/stocksSee Post

Somebody talk me down from investing in weed stocks/ETFs

r/smallstreetbetsSee Post

Speculations that are currently losing

r/wallstreetbetsSee Post

Long $MSOS

r/wallstreetbetsSee Post

25k on $MSOS

r/StockMarketSee Post

Why $MSOS has 55% of its portfolio in US Dollar and 24% in Derivative Securities?

r/pennystocksSee Post

$HITI High Tide Inc DD

r/wallstreetbetsSee Post

$HITI High Tide Inc DD

r/wallstreetbetsSee Post

Any other retards buying weed stock right now?

r/wallstreetbetsSee Post

Marijuana will be federally legalized in late April or early May 2022

r/wallstreetbetsSee Post

Weed will be federally legalized in late April/early May 2022

r/StockMarketSee Post

Happy Holidays!! I have a small but vast question for the community that can take many twist & turns

r/wallstreetbetsSee Post

Cheapest stocks on Wall Street

r/wallstreetbetsSee Post

Why are US multi-operators still falling? They should be surging

r/weedstocksSee Post

Average down or hold and invest in other markets?

r/wallstreetbetsSee Post

Buy profitable pot stocks while they are cheap

r/stocksSee Post

Why are cannabis stocks and ETFs so hated?

r/weedstocksSee Post

Thoughts on Tax Loss Harvesting MSOS?

r/wallstreetbetsSee Post

Are weed stocks entering a new hype cycle?

r/wallstreetbetsSee Post

Institutions dont want you to know about these stocks

r/weedstocksSee Post

"The Buyers Are Higher" Twitter Spaces Nov 18, 2021 - Boris of Curaleaf chimes in

r/stocksSee Post

U.s. MSO (Pot Stocks.) Recent price action, what's the cause: A "Short- Squeeze," Noise (news,) or Fundamentals?

r/wallstreetbetsSee Post

300k $MSOS YOLO

r/wallstreetbetsSee Post

Elon just gave cannabis the green light 🌱🚀🦍

r/wallstreetbetsSee Post

MSOS is a NYSE traded ETF consisting of OTC traded US Cannabis companies, $1.23B Assets under management

r/wallstreetbetsSee Post

MSOS set to blow. Record setting volume past week

r/wallstreetbetsSee Post

Finally, we can talk about $MSOS!!! Show me your gains 🔥🔥🔥🔥🚀🚀🚀🚀🚀

r/wallstreetbetsSee Post

Finally!!!! Share your $MSOS gains!!!!!! LFGrow 🇺🇸 cannabis 🔥🔥🔥🔥🚀🚀🚀🚀 yolo

r/wallstreetbetsSee Post

$163k $MSOS YOLO - US Canna to the moon 🚀 🌝

r/wallstreetbetsSee Post

$MSOS US Cannabis ETF is now over $1b in Assets under management

r/wallstreetbetsSee Post

MSOS US Cannabis ETF just passed $1b in assets

r/wallstreetbetsSee Post

Cannabis / WeedSqueeze is here $MSOS - mods please let me post!

r/wallstreetbetsSee Post

Short interest in $MSOS

r/WallStreetbetsELITESee Post

OH SHIT this is mad BULLISH😈 Pot stocks about to fly and great news coming. Main pure play has always been $TLRY. Breakout imminent $15 Target 🚀 $MSOS $ACB $CGC $SNDL

r/smallstreetbetsSee Post

OH SHIT this is mad BULLISH😈 Pot stocks about to fly and great news coming. Main pure play has always been $TLRY. Breakout imminent $15 Target 🚀 $MSOS $ACB $CGC $SNDL

r/ShortsqueezeSee Post

OH SHIT this is mad BULLISH😈 Pot stocks about to fly and great news coming. Main pure play has always been $TLRY. Breakout imminent $15 Target 🚀 $MSOS $ACB $CGC $SNDL

r/ShortsqueezeSee Post

$MSOS Short Squeeze in Play (US Cannabis)

r/weedstocksSee Post

Understanding Washington: Virginia and the GOP Bill

r/wallstreetbetsSee Post

$MSOS $4.20 leaps are good luck right?

r/weedstocksSee Post

Why are my weed ETFs and other up today?

r/StockMarketSee Post

Hightide Ultimate DD

r/wallstreetbetsSee Post

US Cannabis MJ-largest short positions on the CSE- Short Rally Underway!!

r/wallstreetbetsSee Post

$MSOS Short Squeeze In Play 🌿🚀 (Underlying names are the most heavily shorted stocks on the CSE. Republicans just sent them flying with support of legalization... all 45 minutes before Friday's close. GL ALL!)

r/wallstreetbetsSee Post

$MSOS Short Squeeze In Play 🇺🇸🌿🚀 (Underlying names are the most heavily shorted stocks on the CSE and Republicans just sent them flying by supporting a legalization plan... all 45 minutes before Friday's close. GL ALL!)

r/wallstreetbetsSee Post

“A new Gallup poll found that 68 percent of Americans support legalizing marijuana—including majorities of Republicans, Democrats and independents.” With public support at an all-time high and a Republican bill forthcoming, is the US government close to legalizing 🪴? $MSOS

r/wallstreetbetsSee Post

“A new Gallup poll found that 68 percent of Americans support legalizing marijuana—including majorities of Republicans, Democrats and independents.” With public support swelling and a Republican bill forthcoming, is the US government close to legalizing cannabis? $MSOS

r/weedstocksSee Post

MSOS vs Canadian LPs thoughts guys.

r/wallstreetbetsSee Post

$MCMJ - A better way to get high than sniffing glue

r/weedstocksSee Post

MSOS... What's up?

r/weedstocksSee Post

Guys i need your support regardless if you are a MSOS or Canadian LP holder. Enough is enough and its time to bring the MJ back to mainstreet. Do support the post. Appreciate thanks. We are all one together.

r/SPACsSee Post

$MCMJ - Leafly 🌿: Weed Rotation And Likely Last Great SPAC Opportunity

r/SPACsSee Post

$MCMJ - Leafly: Likely The Last Low Float SPAC With Options In Our Lifetime

r/wallstreetbetsSee Post

Multi Bagger Opportunity in US Cannabis

r/stocksSee Post

MSOS Investment Policy vs Holdings??

r/wallstreetbetsSee Post

Cannabis MSOs - my 2 cents

r/investingSee Post

Institutional Ownership of Weedstocks

r/stocksSee Post

institutional ownership in weedstocks

r/wallstreetbetsSee Post

Weed stocks!!! SNDL, TLRY, MSOS. Now is finally the time.

r/optionsSee Post

Rolling down to capture IV/theta on rising underlying

r/wallstreetbetsSee Post

Major weed news today, the time is now for potential 10x returns

r/wallstreetbetsSee Post

MSOS (US Weed Companies ONLY) DD / US Government catalyst happening next week

r/wallstreetbetsSee Post

MSOS (US Weed Companies ONLY) DD / US Government catalyst happening next week

r/wallstreetbetsSee Post

MSOS (US Weed Companies ONLY) YOLO + DD / US Government catalyst happening next week

r/stocksSee Post

Just rolled over my 401K to IRA. Critique my plan.

r/weedstocksSee Post

Anyone have any good posts or articles showing legalization timeline?

r/weedstocksSee Post

$MSOS calls strategies?

r/weedstocksSee Post

Is MSOS still better than MJ now that we're 9 months into the Biden presidency with no signs of policy change?

r/wallstreetbetsSee Post

MSOS potential

r/weedstocksSee Post

Hi Reddit, I’m Dan Ahrens, Advisorshares’ Portfolio Manager for the $MSOS and $YOLO ETFs. I’ll be back on Thursday, Sept 16th at 2:30pm EDT. Ask me anything!

r/stocksSee Post

What would YOU do with these losing stocks and ETFs?

r/weedstocksSee Post

Are you worried that a lot of these stocks are still ovepriced?

r/stocksSee Post

Cannabis ETFs trailing the broader market this year and over their entire lifetimes.

r/wallstreetbetsSee Post

What are your thoughts on the Advisorshares Pure U.S. Cannabis ETF?

r/wallstreetbetsSee Post

What are your thoughts on the AdvisorShares Pure US Cannabis ETF?

r/stocksSee Post

Investing in American Cannabis: the Essential Information

r/weedstocksSee Post

What is MSOS primary holding?

r/weedstocksSee Post

Best Youtubers in Cannabis Space

r/weedstocksSee Post

MSOS - are swaps an added risk to be factored in?

r/weedstocksSee Post

What’s ahead for weed stocks?

Mentions

I actually started getting a little more aggressive buying MSOS today. I think it's a dangerous game shorting these stocks but somebodys out there are doing it. And I can't wait for them to have to cover.

Mentions:#MSOS

Just gonna keep DCA into MSOS by selling puts slightly OTM every time it dips. Recommend others sell puts as well unless you're confident this is the bottom for some reason. My two July 15 $13P sells that I got 85c each for aren't looking pretty now but at least I sold the puts instead of buying the 13.50 "dip" in May.

Mentions:#MSOS

Haha jokes on you MSOS! You made me think I lost $40k, but inflation reduced the value of my investments so I really didnt lose that much!

Mentions:#MSOS

The 11.50 July 15 MSOS Put Seller is underwater on their newest position. They sold at 0.90-0.82. Current price is 1.10. However, they are still in the profit from their last two trades.

Mentions:#MSOS

Congrats, MSOS! Yet another all time low has been set. You did it!!! (Again). That fucking thing could be single digits by next week. 🤮

Mentions:#MSOS

Any believer in Todd Harrison, or MSOS as a whole is absolutely DELUDED.

Mentions:#MSOS

It’s definitely rigged - they suffocated buy pressure and gave HF / banks free reign to short it, accelerating returns by leveraging MSOS options. They know most institutions can’t buy, so the only action is the machines they own that short and the idiot insiders that received shares from all the M&A that just want to convert to cash and don’t know shit about equity valuation.

Mentions:#MSOS

don’t do it, get MSOS if anything

Mentions:#MSOS

Honestly, the fact that MSOS is low-weighted on Cresco is what keeps me buying more…

Mentions:#MSOS

Could be. MSOS hasn't bought any Cresco in forever. Although, having said that, MSOS is underweight on Cresco even including the soon to be absorbed Columbia Care position. MSOS just never seemed to like them. Maybe Cresco needs to hire Todd H as an "advisor" to get Cresco back in favor with MSOS weighting (which sounds hella dirty, but it's the world we live in right now). I have noticed that with the Columbia Care acquisition, CC hasn't dropped nearly as harshly. So it's likely that CL is dropping to meet CC to close the arb gap, instead of CC going up.

Mentions:#MSOS#CL

Weekly RSI on MSOS is 22.6. Incredible

Mentions:#MSOS

Is it the 50k MSOS bought that shot it up 30%? Dang

Mentions:#MSOS

Last 2 buys have included FFNT after a long break. Now we just need the whole sector to start going up and MSOS to keep buying and boom easy money.

Mentions:#MSOS

MSOS Bought 200,000 GTBIF, 100,000 FFNT, 50,000 GLASF.

Maybe. No one else had the volume though. Have to wait till junglejava updates MSOS flows and buys for the day on twitter.

Mentions:#MSOS

MSOS buy?

Mentions:#MSOS

Looks like they are closing the position and opening another one. This is the 3rd roll. The second position was MSOS July 1 11.50 PUT was opened at 0.75 - Today it was closed at 0.40 They either sold to open and are capturing Theta for profit, or they bought to open and closed at a loss. The newest position looks like a STO (Sell to open) with the price between 0.90-0.82. I know both MJJ and Charles of Ninepoint Alternative Health Fund will use options so this could be them.

Mentions:#MSOS

$MSOS Strike: 11.50 Expiration: 2022-07-15 Put .MSOS220715P11.5 Price: 0.82 Size: 13860 Time: 2022-06-27 9:37:55AM Premium: $1,136,520.00

Mentions:#MSOS

After the market recovers somewhat in the next few years, I might buy some LEAPS on $MSOS.

Mentions:#MSOS

This is essentially asking if MSOS will ever go back to at least 40% of its previous ath. If that doesn't happen then this entire sector is boned

Mentions:#MSOS

Yo you motherfuckers think this is funny? That I pulled out? Most of my money pretty close to the top? To be honest I do still hold some small positions in some absolute ape shit. I have some VLDR $3K@15, MVST2.6K@$18.87, CLOV@21.78 smh, TDOC about $1K @ 102...smfh. Holee. But the grand finale is....MSOS $3.4K @ 50 ahahahahha. I WILL HOLD ALL OF THESE TO 0 bc you know i hate money. Although I made a fucking killing on the interest decision last week. ​ Did I mention my brother blew his fucking brains out last week as well? Shit has me fucked me up he had a 4, 7 and 10 year old and wifey. Fuuuuccckk. Did you also know that most suicidal people once they have the motivation make the decision within 5-15 minutes or they don't do it? I read this after the fact and didn't realize it was almost always an impulsive decision. Unbelievable. Buying options can also be impulsive. Put that in your pipe and smoke it.

Payday Friday for this working class heaux. Bought some Cresco and MSOS because I hate money or something. GLTA

Mentions:#MSOS#GLTA

MSOS wise, goes straight a bit, drops hard. Straight, drops hard. Just seems to be a pattern, although I know there's no ability to predict the market.

Mentions:#MSOS

Sorry but I can't accept this. US cannabis peaked in February 2022 and started tanking. IWM was still setting new highs 9 MONTHS LATER ! While IWM was setting new highs, MSOS was down OVER 50% How is that the same? Also your comparison to Netflix makes no sense. Netflix has an insane valuation and they were bleeding subscribers. US Cannabis is the exact opposite. Sales were growing and the valuation were cheap compared to almost every other growth stock.

Mentions:#IWM#MSOS

Right; about the day IWM stopped rallying, and starting chopping. Names like NFLX whom have businesses not burdened by 280E and federal illegality are down the same % from ATH as MSOS except in about a 1/3rd the time 🤷

Redemption from MSOS. So someone withdrew funds

Mentions:#MSOS

I think MSOS was buying GTI and Trulieve

Mentions:#MSOS

Where are we able to track MSOS cash/spending ? I’ve seen it posted here before

Mentions:#MSOS

Made a MSOS buy order with a limit of $10.50. Looks like we could even hit that this week. It's going to be my last weedstock buy.

Mentions:#MSOS

It looks like somone closed their 9.9k put position exp July 1 They opened it at 1.09 on June 14th and closed it today at 1.45. It if was a buy and a sell thats 33% gain. Also someone today opened 13.86k contracts on July 1 11.5 strike MSOS at 1.45$

Mentions:#MSOS

Not sure why MSOS isn't using its 8million in cash to stabilize this. Looking like now or never

Mentions:#MSOS

"The number of people with medical cannabis licenses in the U.S. rose to 2.97 million in 2020 from 678,408 in 2016, according to a study of state data published this week in the Annals of Internal Medicine. The most common qualifying condition reported by patients in 2020 was chronic pain (60.6%), with posttraumatic stress disorder (10.6%) a distant second. ....The AdvisorShares Pure US Cannabis ETF (MSOS) rose 0.3% on Friday, but is down 53.7% so far this year." ​ Something doesn't add up does it? lol The cannabis industry is crushing it right now and all of the MJ stocks are tanking, consistently like a staircase downward. But I am still accumulating shares... One day man, one sweet day

Mentions:#MSOS#MJ

That video was a real good watch. Found this website that tracks FTDs https://stocksera.pythonanywhere.com/ticker/failure\_to\_deliver/?quote=MSOS

Mentions:#MSOS

This hurts. Down $40,000. Once in a lifetime opportunity to financally fuck myself in the ass! 🤣🤣🤣🤣🤣 Money wouldve been better in my mattress. MSOS, why you do me like this? WHERE IS THE BOTTOM!?? 0?

Mentions:#MSOS

By the looks of things, you will either get in too early or too late. Starting July I'm going to buy 200 shares of MSOS every 2 weeks until I get 1000 and start selling CCs. I hope I can get those shares at $10 average or less.

Mentions:#MSOS

I know, that drives me crazy. “Well look at SPY - everything is down!” No mention of SPY from 3/21 to 12/21, though. Go figure. If you look at a 2 year chart, SPY is up 7%. MSOS is down 52%. Not really sure what else can be said on this one…

Mentions:#SPY#MSOS

You have to wonder what MSOS, Verano and others are paying him for.. 🤔

Mentions:#MSOS

One day in the market is meaningless. MSOS, down 56% ytd. Pltr down 53% lcid down 56% tsla down 40%, fucking FORD down 47%, nvda down 45% and down 44% I mean??? SHOP down 76% ytd, pypl down 63% nflx down 71% its a complete bloodbath fucking everywhere.

By this years' "sell in may" MSOS had already fallen 60% from its February 2021 high, so this was by no means a direct cause of the price action. Growth started selling off first, and IWM became choppy as soon as cannabis peaked, which in hindsight was the first symptom of the ongoing broader bear. I could of course be wrong and appreciate listening to others' viewpoints. Thanks for the discussion

Mentions:#MSOS#IWM

Hills I'm dying on... MSOS and TLRY.

Mentions:#MSOS#TLRY

I have switched to MSOS fuck it

Mentions:#MSOS

MSOS looking kinda cheap

Mentions:#MSOS

Might be true for SPY; we're due for a +10% dead cat, probably before the next grind lower. Why would the tides turn on MSOS now? I still see zero signs of capitulation

Mentions:#SPY#MSOS

I like how your statement correlates to the article: The AdvisorShares Pure US Cannabis ETF MSOS, -1.61% rose 0.3% on Friday, but is down 53.7% so far this year.

Mentions:#MSOS

Months ago I sold over half my stocks because of unstable income. Held onto BTC, been DCAing since 40k over the past couple months, and recently bought INTC, NVDA, and SPYV/SPYD. Plan to put some more into MSOS as well. I toyed with some other cryptos, and still earn small amounts of PRE and BAT using their web services, but these days I only buy BTC.

Why are MSOS leaps so tantalizing. My brain knows shares are the way with weedstocks, but my heart wants to gamble

Mentions:#MSOS

My MSOS calls are absolutely fucked lmao

Mentions:#MSOS

The ETF that holds them all, MSOS.

Mentions:#MSOS

The ETF that holds them all, MSOS.

Mentions:#MSOS

The ETF that holds them all, MSOS.

Mentions:#MSOS

The ETF that holds them all, MSOS.

Mentions:#MSOS

The ETF that holds them all, MSOS.

Mentions:#MSOS

Does MSOS have a dividend?

Mentions:#MSOS

I had a theory about why Green Thumb was taking a hit… I thought MSOS was selling it over the last month. I was wrong. MSOS has been buying it! I’ve been collecting daily holdings of MSOS for the last 8 months. MSOS has not increased its holdings of truelieve in the last month. If I had to guess, some whale has been dumping green thumb into low liquidity and putting it into truelieve.

Mentions:#MSOS

About 60% in NIO and rest some weed stocks like MSOS, TLRY, and my OG weed pick HEXO (-99%) and I also have some 250+ VUG calls that I bought ITM (as "safe" investments) but are now basically worthless... The weedstocks I will most likely sell on January 1st for tax purposes. NIO I will hold for about 8 more years. One lesson I learned with HEXO is that I'm great at holding a stock forever under absolutely any circumstance. Had 50k in that company and it has been the most mismanaged corporate piggy bank I've ever seen. Maybe they'll turn things around, but I highly doubt it... At this point I've literally held it to $0. So I've decided when I buy something, the only way I sell is if goes to $0 or I've held for at least 5 years.

25% cash. Same need it for day trading. Bought CRLBF 2.95 GTBIF 9.20 MSOS and CRON - CGC- TLRY for a bounce

I see why everyone’s so high on MSOS. Anyone want to educate me on the swaps?

Mentions:#MSOS

I too have lost 40k. $39,746.88 to be exact. 1332 shares MSOS @ 41.79 avg.

Mentions:#MSOS

Growth has been hammered for just as long. Go look at a chart for ARKK and MSOS side by side

Mentions:#ARKK#MSOS

Almost $3 million in July 1 MSOS puts came in before close today. 13.50 and 12.50 strikes.

Mentions:#MSOS

I’m in a similar ballpark - wouldn’t have cared much if I didn’t dabble in options. I’ve only loaded up on MSOS stocks since and been fairly selective with them. Going to be a long haul, but we’ll recover a lot of it and more on the next cycle. DCAing at current levels to lower my cost basis, but learned my lesson that anything is possible, so half is going into VTI. Stim isn’t coming to bail out the market anytime soon. Find something else to look at for a few years, maybe focus on professional development to increase salary etc. This hurts for sure

Mentions:#MSOS#VTI

I'm down 19k on $MJ and $MSOS. I HOPE YOU'RE RIGHT.

Mentions:#MJ#MSOS

At least MSOS can only fall a further $12

Mentions:#MSOS

Sad thing is that I don't think MSOS would even be at its previous ATH if all your MSO price targets were met

Mentions:#MSOS

Yep. For at least 6 months, the constant theme has been “you’d be crazy to sell here!”. Yet here we are, with MSOS heading towards single digits. (And single digits will absolutely happen when it’s official that SAFE will be stripped from Competes Bill).

Mentions:#MSOS#SAFE

This rate MSOS will be sub 10 by the end of the week.

Mentions:#MSOS

A lot of big green candles this morning on MSOS who all immediately became bag holders lol

Mentions:#MSOS

50% KOLD 20% EPV 20% MSOS 5% GLD puts 5% CLF calls

Fuck both political parties, but if you dont think politics has a huge effect on markets you are crazy. I made bank off my prediction that dems would win the GA senate runoff election in january 2020. Non-partisan opinionated political analysis has a place here IMO. Positions: long $MSOS

Mentions:#MSOS

Paywall: Only a few months after Dutchie raised $350 million at a mouthwatering $3.75 billion valuation, a broker started reaching out to cannabis investors with a deal—buy a multi-million-dollar stake in the cannabis software company at up to a 30% discount. In April, multiple investors across the cannabis industry got an even sweeter offering: Invest in Dutchie at a $1.7 billion implied valuation. The cannabis industry’s most valuable software company—the privately held, Bend, Oregon-based Dutchie sells e-commerce and point-of-sale software to dispensaries to help manage online orders, inventory and state law compliance—has been humbled less than a year after it raised two back-to-back rounds totaling $550 million from big names such as Tiger Global (which has backed Peloton, Roblox, Spotify and Juul), billionaire Daniel Sundheim’s D1 Capital Partners, and earlier rounds from Snoop Dogg’s Casa Verde Capital, Josh Kushner’s Thrive Capital, NBA star Kevin Durant’s fund and billionaire Starbucks CEO Howard Schultz. Dutchie “has come down to earth,” says a cannabis investment fund manager who does not invest in the company. On Monday, Dutchie laid off 8% of its 700-person workforce, citing a “dramatic market shift” and a decision to “restructure” certain parts of the organization, cofounder and CEO Ross Lipson says. GeekWire first reported the news of the layoffs. But the company’s head count is not the only thing potentially getting smaller. According to interviews with past and present employees, current Dutchie investors and fund managers who have not invested in the company, the days of its stratospheric valuation are over. (All nine people interviewed for this article would only speak on the condition of anonymity.) “Everyone knows the valuation from last year was lunacy,” says one investor who has been approached multiple times by Dutchie shareholders. “The people who paid for it in 2021 were living in a different world, a different time.” No sale on the secondary market at a lower valuation has been completed, but according to several sources, there are shareholders from every category—early employees, big and small investors—looking to exit. Some who got in early are willing to part with their shares at a sub-$1 billion implied valuation, while newer investors are hoping to cash out as low as $1.7 billion, a 55% discount from the company’s valuation in October. What drew investors to the company in the first place is the potential of the cannabis industry while it’s still in its infancy. In 2020, U.S. cannabis sales hit $17.5 billion, but that number is projected to grow to $100 billion by 2030. So Dutchie has become a way to invest in the industry without investing in a cannabis company. Dutchie, Lipson has said, will never grow, sell or distribute marijuana. Lipson says despite the layoffs, Dutchie’s position in the market is still intact and the company is delivering for its customers and investors. He also balks at the notion that Dutchie’s valuation has decreased. “Our company’s valuation has not changed since our latest financing round and any claims to the contrary are completely false,” he says. “Dutchie is in a strong position, and we are focused on continued growth. We will continue to hire top talent and pursue growth opportunities that map to our business objectives in order to advance our mission to provide safe and easy access to cannabis while helping to drive the cannabis industry forward.” Ross and his brother Zach founded Dutchie in 2017. Ross, who had sold an online food ordering business he started in college a few years prior, was waiting for an hour to buy weed from a dispensary in Bend on the first day of legalization when he had his “aha moment”—there should be a way to order cannabis online. Dutchie was born. Forbes estimates that Dutchie brought in $45 million in revenue last year, meaning it was valued at more than 80 times its revenues. By comparison, some of the best-performing software companies are valued at 20 times revenue. The head of a venture capital firm that started investing in Dutchie in 2020 and continued to invest in three consecutive rounds says they are still confident in the company but admits that it is no longer valued at $3.75 billion. He is encouraging Dutchie to “batten down the hatches” and reduce head count. “Unfortunately, despite them being fundamentally sound, you cannot ignore that tech has cratered and Dutchie definitely pushed the envelope in their Series D,” the investor says. “Am I surprised that there are offers on the secondary market? Absolutely not. Am I surprised by a 50% discount? Tech on average is down 45%, or more, and this is more speculative.” As for how an unprofitable software company with an estimated monthly burn rate of around $20 million and some $45 million in annual revenue could attain a $3.75 billion valuation in the first place, the investor points to big names like Schultz and Durant. “They couldn’t have garnered such a big number without those poster board names,” he says. Dutchie is not alone in the downturn. Akerna, another software firm and Eaze, a cannabis delivery company, also announced layoffs recently. Meanwhile, the publicly traded cannabis companies have also taken a beating: MSOS, a cannabis ETF, is down nearly 70% compared to 2021, while Curaleaf, Green Thumb Industries and Trulieve, some of the country’s largest cannabis companies, have seen their stock prices crater 60% since last June. There’s trouble across the broader venture market, too. Forbes reported last month that most startups valued at $1 billion or more are trading on the secondary markets at 20% to 40% discounts. Tiger Global declined to comment while D1 Capital and Casa Verde did not respond to calls and emails. Dutchie told Forbes that one of its current investors bought shares on the secondary market at the valuation set in October, but it wouldn’t say which one. Thrive Capital partner Gaurav Ahuja says the firm is long on Dutchie and doesn’t think economic headwinds affect the company. “The legalization of cannabis continues to spread across the world,” says Ahuja. “The industry—like Dutchie itself—is experiencing rapid growth in the face of broader macroeconomic conditions. In recent weeks, shares were purchased at Dutchie’s most recent valuation of $3.75 billion.” But one current employee and a former employee say that the company is behind in product launches, most notably Dutchie Pay, a mobile payment product that allows customers to order pot online and pay through an ACH transfer, which company leadership has said is a key to profitability. Dutchie Pay launched in alpha during the first quarter and will have a wider rollout by this summer. “People internally see the writing on the wall,” says a former employee, who was part of the recent layoffs. “Dutchie doesn’t have the products to back up its valuation—and it doesn’t have the strategy, either.” In an interview with Lipson in January, he noted that Dutchie’s business model is “nearly identical” to Shopify, the leading e-commerce platform that has seen its stock plummet more than 70% this year, while its market capitalization dropped $136 billion in the same period. An investor who declined to invest in Dutchie when multiple offers hit his desk this year, says Dutchie has a slick software offering, but wonders if it’s better than mainstream competitors. “The concept they sell people on is that they are Shopify of cannabis,” he says, “but why wouldn’t Shopify be the Shopify of cannabis?”

Mentions:#MSOS#ACH

Wouldn't be surprised if we see that MSOS bought a bunch of GTI today. That end of day unwind always bites

Mentions:#MSOS

Check out the tobacco stocks. Might have something to do with today's MSOS movement

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Any news today causing MSOS to go green?

Mentions:#MSOS

My prediction from 2 months ago seems to be mostly accurate. I was predicting levels of $3 for CGC, and $2 for TLRY. I might have to issue another downgrade with general market seeing even more weakness than expected. No point in rating MSO’s as they are on garbage exchanges but I will still say that we can see MSOS near $10 with worsening market conditions.

MSOS gooooooing

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Slowly buying a few shares every payday of MSOS

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New all time low on MSOS! We did it!

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Bullshit. I am asking a legitimate question about a information source. What is he getting paid for? Why is MSOS paying him? Why is Verano paying him?

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He is getting paid. Explain to me why MSOS is paying him or why Verano is paying him or why anyone is paying him? He is making bank while retail investors which are the majority of his audience are getting killed the last 18 months

Mentions:#MSOS

He is a paid advisor for MSOS the biggest pile of stink in the market. What exactly are they paying him for? Why are all these other companies paying him? If was being paid I would pump all day on Twitter... oh wait 🤔

Mentions:#MSOS

Came here to say this. My largest holding is MSOS (recently started a position) and I am down 2% on the day. Still, VT and QQQ were down 2.26 and 2.68 respectively. It's good to keep things in perspective.

Mentions:#MSOS#VT#QQQ

Accumulating more MSOS today…. Tell me why I’m wrong. 🥹

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Anybody have conviction that this is the bottom for MSOS?

Mentions:#MSOS

I bought an office chair at a BL recently. They weren’t running the air conditioning. Hot af in there and they said it wasn’t broken. Put your 5k in TLRY or MSOS.

Mentions:#BL#TLRY#MSOS

MSOS green two days in a row

Mentions:#MSOS