VFF

Flipside68

VFF was the tomato joke. VFF was crushed, and diced.

No_Love_Gained

Regarding VFF go look at the comments from that period instead of just guessing. Also financials here carry very little weight esp when only a handful of retail and hedge funds run the show. This sector is basically news/headline driven and until that changes nothing will ever matter. Re..Ogi bottomed out at 1.20 canadian and hit 1.85 canadian, so if you bought it at bottom you would have walked away with 50 percent gains.. But you do you.. Glta

Canna-dian

Ehhh, idk if anyone serious said that about VFF. They have some of the strongest financials in the industry. OGI, on the other hand, is down 20% L6M and 40% YoY

No_Love_Gained

Sam was said about Hightide, Ogi and VFF few months ago. Not saying it'll bounce back immediately but if there are no fundamental issues with the stick then it might just be a great opportunity to load up based on your risk appetite. Note - I bought some in 8.20s and will double down when it bottoms out and stabilises a bit. Glta

mfairview

https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=320361470&type=PDF&symbol=VFF&cdn=016541f8eaf22badf3718a8d3c5e0466&companyName=Village+Farms+International+Inc.&formType=4&formDescription=Statement+of+changes+in+beneficial+ownership+of+securities&dateFiled=2026-09-22 i board member of vff picked up a few shares as well

antonyto680

Great pick, honestly yeah if they can’t get Aurora on the cheap and they have to put in more money, much better off buying VFF.

Plus-Parking-7846

VFF without even looking.

Dramatic-Gold321

Last chance to board the VFF shuttle to the moon!

Humungusminimaglight

VFF should be hovering $3.55, not cling to this low range. ¡Ándale ándale!

49parallel

You make a fair point about HITI and VFF. They are both incredibly well-run, and I'd throw OGI into the mix as that same tier of solid Canadian operators. But we are looking at two completely different investment lanes. While those companies are smart plays for domestic Canadian execution, they lack the global infrastructure and massive beverage network that Tilray has built. I can agree on the overpaid assets during the 2018–2021 bubble, but hindsight and all that... everyone overpaid back then. TLRY cleaned up their balance sheet, took the hit, and actually secured their infrastructure for the long term.

the_mammynun

Frankly there is no good way to lose $2B. If it's a write down then they overpaid significantly for assets that are also cash flow negative.  That's great regarding your theory. I just don't think it will make a dent in TLRYs problems. The bottom line has a lot of catching up to do. You should take that enthusiasm for cannabis stocks and apply it to a better company. HITI is an increasingly interesting global retailer and importer at a very fair valuation. If you prefer cultivators look at VFF. Both have long histories of positive FCF and earnings, along with talented and driven management teams. 

mfairview

iAccess Alpha VFF Presentation \~35m. [https://www.webcaster5.com/Webcast/Page/3171/54419](https://www.webcaster5.com/Webcast/Page/3171/54419)

TomorrowLow5092

CGC shares the same space as VFF. The outlook for CGC is meh, and I feel your pain. Canada is sucking too much at the till in taxes for cannabis operators. Everyone is selling overseas for better profits. CGC sells more but VFF is catching up and VFF is the lowest cost producer while expanding production. Sell all and buy VFF. VFF is the Boss! I will also share, IMO the DOW is going below 50 this fall so plan accordingly.

Humungusminimaglight

So Dan sells VFF at the lows only to rebuy now a little higher. What’s up yo!?

the_mammynun

It may boost margins but adds complexity to the business. A discount retailer shouldn't need to worry about crop cycles, weather patterns, electricity costs etc. You also need to have the right growers, genetics, controls to ensure that your products are actually high quality and grown at the lowest price.  I say let growers be growers and retailers be retailers. Just like any other mature industry, specialization is inevitable.  The only reason MSOs can command those high margins in the US is because they exist in a bubble. For example if Glass house could suddenly ship low cost cannabis to Florida, Trulieve would be forced to lower prices on the cannabis they grow in order to compete. That might erode their margins to a degree that makes cultivation unnecessary and unprofitable.  Same with High Tide. In Canada, if High Tide were a grower they would have to compete with efficient operators like VFF, Auxly, LOVE, OGI, etc. It would also not be complementary to their relationships with LPs since they would be in direct competition. When High Tide sells white label brands, it is complementary since it supports LPs who want to unload extra biomass.

Humungusminimaglight

VFF Deepak Anand to lead Global Government Affairs. Previously co founded Materia Ventures, with a big focus on building cannabis operations in Europe. Used to have a big focus on the UK (and Denmark). Ruffini moves to M&A and Anand comes in with European market entry/regulatory experience. Hey u/villagefarmsofficial are you eyeing Cantourage to turn your European export business into a vertically integrated operation with its own processing, distribution and patient access across Germany, UK and other European markets? Will they answer? It’s been four years since VFF did an ama.

Imaginary_Rooster622

Thats spot on. Also why I have a position in VFF. Citadel is eating first

Scout_72

VFF

mfairview

VFF just broke $3. Nice recovery after Citadel news (who caused it to drop to $2 in the first place).

GuyOnTheCouch420

Yea that's a different thesis but i'd say those 3 LPs have decoupled (CRON, XLY, VFF). Assume those are the LPs you're thinking of. OGI still a shitshow IMO - that sanity deal made no sense to pay earn out up front. Just bad capital allocation between motif, sanity and sanity part 2. and they are out of cash so gotta assume another raise coming. Only plus side is that BAT seems to invest on favorable terms.

TomorrowLow5092

Same as the old boogieman, but this time will be different. I promise. VFF is the Boss!

Loose-Dream7901

VFF is a low margin cannabis producer primarily based out of Canada

Plus-Parking-7846

VFF is on Nasdaq but it hasn't done much good for them.

Imaginary_Rooster622

The longtime Chief Financial Officer of Village Farms International (VFF), Stephen "Steve" Ruffini, is transitioning to lead the company's mergers and acquisitions (M&A) efforts. As a shareholder of both. I would love to see Trulieve buy out VFF

Dramatic-Gold321

VFF is moving!

FoodCooker62

Even CRON starting to become batshit overvalued. Stripping away the cash leaves an enterprise value of 500 million.... For 11 million of EBITDA for comparison, Auxly and VFF, which are COMBINED about the same enterprise value, have 80 million of EBITDA  Auxly and VFF have about 24% EBITDA margin. Cronos doesnt even crack 7% but has a 8x higher EBITDA multiple.  Can the cannabis sector price a stock right even 1 time? 

Jaybug151

$VFF

FoodCooker62

Still true  Tilray and Canopy are worth $1B. Operating cash flow: -124,4M $  VFF + Auxly + HITI are worth just over $700m. Operating cash flow: 94,4M $ Casual 225 milion profitability delta. Joke ass meme shithole sector

Humungusminimaglight

Absolutely not, and Boris is kind of moving away from production dependency of VFF with that whole acb business. VFF needs to up their branded sales in eu.

fuentescoffee

All of these landed at once for a plumbing reason: Q2 13Fs were due Friday, 45 days after June 30. So every "X took a position" item this week is describing a June 30 snapshot that's about seven weeks stale, not a live book. Two things I'd check before reading it as conviction. A 13F line can be an options position rather than shares — puts and calls get reported at the underlying's value, so a multi-strategy desk can show up as a "holder" while being hedged. And if Friday's thread here is right that Citadel came in through VFF's 7.5M-share offering, that's an allocation in a financing rather than accumulation in the open market. Different signal. Also worth keeping "5.5% holder" separate from a 13F — that one comes off a 13G/13D, which is a different form with a different trigger. Same plumbing read backwards probably explains the MAPS "96% drop in institutional holdings" thread from Friday. 13F only covers names on the SEC's official 13(f) securities list, which gets republished each quarter. Come off an exchange and you come off the list, and managers stop reporting the name whether they still hold it or not. Aggregators render that as institutions bolting. u/GeoLogic23 guessed exactly that in the thread and I think they were right.

mfairview

yeah, pretty sure it was Boris that was interviewed on their relationship with VFF exports. I'm not sure they want Cura's debt (as a shareholder, I would not). VFF almost has a much cash as they do.

TomorrowLow5092

i've thought the same with Cresco, however Texas will give VFF the license they need since S3 is happening according to everyone. An offer would have to happen before S3 occurs and look around, VFF is not for sale. They are operating in multiple countries and it would take more than a billion dollars to buy all their operations. We accept your opinion though, make an offer to raise ite price up if you like. i need to sell some of these .66 cent shares i'm holding from a few years ago.

Humungusminimaglight

and I expect GTii to form a joint venture with VFF as a GTii holds a Texas medical license for region 9 with no production and VFF have their Monahan facility in the same region and no license.

BoJo_Nose6969

I expect VFF to get bought by Curaleaf if they're unsuccessful with acquiring Aurora.

rlov3ution

Looks like Citadel has taken a position in VFF and Cantor took a position in TRLV and GLAS. Times they are a changing!

TomorrowLow5092

VFF is the Boss! Every year they increase production. Village Farms International is projecting a full 40 metric ton incremental run rate by Q3 2027, bringing total annualized Delta production to approximately 160 metric tons by 2028

mfairview

Raw 13F Institutional Leaderboard The updated raw 13F and NPORT filings show the true top shareholders:Institutional Entity / FundRaw Shares HeldFiling Type & Timing Context Change Citadel Advisors LLC~6.6M to 6.7M Form 13F Massive Increase: Added ~5.5M–6.1M shares, absorbing the bulk of VFF's recent Q2 equity offering. Now a ~5.5% company owner. AdvisorShares Pure US Cannabis ETF (MSOS)~1.62M Form NPORT Decreased: Noticeably cut their position, selling off roughly 2 million shares earlier in the filing cycle. Two Sigma Investments, LP~1.98M Form 13F Unchanged: Retained their steady quantitative hedge fund positioning. Jane Street Group, LLC~1.80M Form 13F Unchanged: Maintaining automated market-making and trading liquidity inventory. Weiss Asset Management~1.70M Form 13F Brand New Position: Entered heavily as a brand new whale institutional holder alongside Citadel this cycle. Key Client Fiduciary Advisors, LLC~1.33M Form 13F Verified Position: Formally validated with fresh data updates. Renaissance Technologies LLC~1.32M Form 13F Unchanged: Mathematical model portfolio exposure remains static. Qube Research & Technologies Ltd~847k Form 13F Verified Position: Confirmed via raw SEC algorithmic trading pool reporting

No_Love_Gained

So Ken Griffin buying into VFF as part of their recent stock sale that caused the price drop pastonth. What's everyone's thoughts on it? Glta

GuyOnTheCouch420

These results pretty bad. Also worst than pretty much all the major LPs despite being valued 5X more than them. CRON, VFF, Auxly collectively lower EV than GLAS is nuts

HalalWarpig

VFF? A weed and grocery stock?

GuyOnTheCouch420

Is that 55% comparable to other major LPs? I dont understand the way they disclose it versus other LPs. I think most of the other major LPs are GAAP versus IFRS so that could be them just adjusting for biological assets? It says: Gross Margin on Finished Cannabis Inventory Sold (%)\* "\*Non-IFRS or supplementary financial measure. Refer to the Non-GAAP Measures section for definitions." That being said, Auxly is one of the few that seem straight forward and not trying to trick anyone. And they have positive net income and cash flow (and cash flow is basically the same as ebitda) so they are clearly crushing it and super legit. Just not sure how to compare their Gross Margin with CRON and VFF but all seem pretty damn good.

FoodCooker62

Combined Tilray and Canopy are worth $1B. Operating cash flow: -124,4M $  VFF + Auxly + HITI are worth just over $700m. Operating cash flow: 94,4M $ Casual 200 milion profitability delta. Joke ass meme shithole sector

No_Cell6708

Is Rubicon about to pop off now? 23% revenue growth WITHOUT any contribution from their new facility is pretty fat. Y'all miss another LP? That's gotta be the 4th one this week. You missed CRON. You missed VFF. You missed OGI. You missed ACB and their merger news. Don't miss Auxly. June and July data showing Irwin Simon and Tilray have officially been defeated as Auxly takes #2 market share. Auxly doesn't sell beer, but nobody grows product as efficiently as they do. Margins better than the medical players and the MSOS that lack competition. Theirs is the playbook that retail across the world will be modeled after. Q2 report tomorrow morning.

No_Cell6708

Oh look. OGI us up 20% premarket. Did you miss out on yet another LP? You missed CRON pop 15% last week, VFF pop 20% yesterday, and now OGI pop 20% Why do you hate LPs? Is it because you have American Brain and hate making money? Why don't you just set your money on fire or mail it directly to Irwin Simon's house? You've missed every single LP except for the very best one - that's right it's AUXLY CANNABIS, reporting this Thursday. Neither CRON nor OGI can claim #1 in flower and #1 pre-rolls. We got the sales data, bros. Igbgmn

Zarmit

The facilities in Delta, BC for the Q2 earnings were operating 1.65m sq ft. Quebec facility is 55,000 sq ft. Netherlands building 1 only has capacity of 2,000 kg of flower annually. So nowhere near 3m sq ft in production for these earnings, not even 2m sq ft yet. When D2 is fully converted VFF will have 2.1m sq ft of cannabis production in Delta, BC. There is one more greenhouse in Delta, D1, that is 2.5m sq ft but no plans to convert for cannabis have been announced.

GeoLogic23

Some were just spotting what I thought was value and sniping a long position. That's VFF, Auxly, Decibel, MAPS, ACB, LEEF. The more recent ones are MAPS/LEEF. I have mostly just taken profits on these companies. Not as much actively trading these. RYM, TLRY, Jones Soda are hemp beverage plays, but I trade them more actively. Vireo is because I've talked for a long time about how effective a small company roll-up strategy would be. That's why I've also had Miracle Gro for years. They were talking about that sort of strategy years ago. Green Thumb for obvious reasons. They were the only true MSO until Vireo that I was comfortable with in recent years, due to their financials. Glass House has long been my other top US cannabis pick. They're the only US company who would actually want interstate commerce. InterCure is an Israel/International play I've talked about for years. Fortunate to have traded them pretty well with all the war stuff. OGI/CRON were my favorite LPs because of big tobacco, no debt, and good cash/financials (OGI at the time). OGI also because I follow BAT very closely because of my CWEB investment. CWEB was my biggest position by far for the last few years. It still is my biggest position, but I took a bunch of profits on its huge runup recently. Main thesis for starting an investment in them was in [2023 with the Farm Bill](https://www.reddit.com/r/weedstocks/comments/13jxax4/comment/jkiuaxc/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button) discussion starting up again. [I was expecting hemp/CBD regulations to come back into focus](https://www.reddit.com/r/weedstocks/comments/125j0xo/comment/je5a70c/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button), which paid off nicely. I spend quite a bit of time researching this sector, so I'm pretty comfortable managing this many companies. Definitely would like to pare it down some though.

GuyOnTheCouch420

The only difference is that Auxly has kind of front run blow out earnings (I also assume their earnings will be great) so probably doesn’t have same SP reaction. I think people didn’t expect CRON and VFF to crush like this. So unless Auxly does something wild like $20M EBITDA I don’t think it jumps double digits. It’s up 13% today and 23% in last 5 days. And when you take out the cash from VFF and CRON Auxly isn’t really cheaper but I’d expect it at least to hold its gains. Finally getting exposure and these feel like the new big 3 LPs. All 3 could keep climbing from here wish I owned more Auxly just hasn’t been liquid and I didn’t want to chase. Sigh.

User_name_guess

Dump VFF

No_Cell6708

Sucks man. LPs been popping off though. Cron crushed it last week. VFF today. If only they saved the best for last oh wait they did it's AUXLY friggin CANNABIS coming up this Thursday.

SuzyCreamcheezies

You bltching that VFF isn't having enough of a meme-pump while also being up 10% is HILARIOUS.

FoodCooker62

VFF missed the memo again. Youre not supposed to make money. Forget stuff like "GAAP EPS" and "organic growth". Crank up the cash burn if you want that meme multiple! 

No_Cell6708

You miss Cronos popping 15% after earnings a few days ago? Sucks. VFF was up 20% before settling into its meager 10% pop. You miss that one too? Stop missing LPs just because you have American Brain. Don't you want money? Why do you hate your own money? It just wants to grow. Buy Auxly Cannabis. Q2 this Thursday. We already have access to the retail sales data...

GeoLogic23

I have tons of holdings, including VFF. In no particular order: US cannabis: Glass House, Vireo, Green Thumb, LEEF US non-cannabis: CWEB, RYM, Jones Soda, MAPS, Miracle Gro Canada/Global: OGI, CRON, InterCure, TLRY, Auxly, VFF, ACB, Decibel The size of these positions vary a decent bit, and I'm always actively trading on pumps/dumps.

Barnz905

Now let's wait in patience for Auxlys report this Thursday morning pre market. Supposed to be another blow out Q for the company. Similar to cron and VFF financials if not better

TomorrowLow5092

VFF is the Boss, Tilray is trash. Eat it!

Forest_City_Frolfer

Fantastic Report Increasing revenues, Increasing Margins, 7M net income and 8.9M operating income. Netherlands is building out well and their international sales are very strong. Cronos having a blowout report, now VFF posting a great report. This is what the industry needs. Legit performing companies. I hope we get a few more good reports this week.

Dramatic-Gold321

$VFF starting to move. Earnings on Monday.

TomorrowLow5092

They will be sucked up by a bigger player at this rate. I would like to see VFF buy them out since Texas banned everything fun. You can't make hay when the feed store is closed they say.

GuyOnTheCouch420

agree. I think the other companies that were winning in canada consumer are now going to germany. and that is def gonna hurt Aurora. Aurora, CGC and tilray were early in Europe. VFF, Cron, OGI (they used to be good in consumer idk what happened), XLY, LOVE are all coming now.

lifetwoshort

VFF getting another shot at it's gap. Never gave up hope to buy more.

Dramatic-Gold321

That’s fair…I only own VFF now. 15k shares with a 2.13 average so not really a crazy amount of money. Hopefully it prints. If it gets back to $4 I’m out and won’t look back.

SwordfishOk504

I see a few Canadian LPs like Aurora, Tilray, and VFF had a fair bit of relative volume on trading early yesterday morning. Any idea what was behind that?

Orennji

Psychadelic stocks are at 50-70% institutional ownership. Almost no Cannabis stock is above 10%, with Cronos and VFF being minor exceptions.

SuzyCreamcheezies

Counterpoint: You are making shit up. The only tantrums around Tilray are from people who do not even invest in the company. Any attempt at discussion is met with derision. This sub has devolved into a Green Thumb, Trulieve and Cresco circlejerk.. with a light glazing of VFF, Auxly and HITI for good measure. Two of those with a higher share dilution than Tilray. But yeah, toooooootal meme stock. Look at that stock price fly! 🤡

Complex-Ice-1523

https://preview.redd.it/siqxmvrz0n9h1.jpeg?width=800&format=pjpg&auto=webp&s=8b885786f8c88d6a329327d05e4253a0d4c6a2fb MRMD, VFF, MSOX, MSOS

SwordfishOk504

Man, I might need to pick up some VFF again.

No_Cell6708

VFF lmao 🤡

lifetwoshort

That's what I see. VFF is also filling the gap.

lifetwoshort

VFF close to the gap.

lifetwoshort

VFF getting close to start filling the gap. Buy orders loaded.

TomorrowLow5092

Buy VFF for International exposure.

PreparationKnown7384

Glass stands out because of the size of the grow operation. They will be able to take advantage of economies of scale. That would be the obvious reason. Saying that I’m not a glass investor unfortunately as they have done very well lately. But now the new standout in my view is Village Farms now that plant touching operators are getting on the US exchanges. It won’t be long before Village Farms is in the mix and an interstate commerce opens up then they will have a very similar competitive edge as glass house but glasf currently trades at 5.5 premium to village. VFFCEO has stated that they are already looking into being able to import from Canada to the US with schedule three in place, they also have the Texas assets and has also stated that they’re not waiting for Texas that they will look at entering US elsewhere if Texas is dragging his feet. Village Farms has more cash less debt, positive earnings per share. And basically is out performing glass house on any metric. Glass house price to sales ratio is currently 6.3 and VFF is currently 1.1. It’s a complete no-brainer.

Russticale

CGC earnings premarket on Monday.  Hopefully it rallies the cannadians, my VFF position needs it. I think we chop around between 5 and 5.50 this short week on MSOS.  Then next week we should run up into the rescheduling hearing end of June.  I shoulda waited but snagged some MSOX calls (only weekly, i shoulda gone out a month) at the close Friday.  MSOS hopefully holds 5 this week, cheers.

the_mammynun

Auxly is not bad because of the vape technology. One of the better run LPs along with VFF and LOVE. If you refer to my previous comment, I actually said "mid-priced" LP is the worst game. VFF and LOVE are discounters. Maybe the case with Auxly as well. (Though I recall they are profitable due to higher margins on exports) High Tides margins are about 25% , but they are reliable long term because retail economics aren't as sensitive to price compression. It is the same case for their European logistics arm. Margins will grow over time as they command a greater store count / market share in europe, and as data sales, and in-house brands like Queen of Bud continue to grow. High Tide has a lot going for them, and is insulated from the growing aspect, which is easily the least profitable aspect of the industry long term. You should understand that growth of the global supply chain will crush Auxlys, and all LPs margins abroad, since lots of cheap product is coming from other countries now. Don't be a grower , PARTNER with growers to develop your brands. That's how it's done in tobacco, food and drink. High Tide is already deploying this model with Queen of Bud.  Keep an eye on HITIs Q2 results next Monday after market. But Q3 and beyond looks much more promising to me.

GeoLogic23

Have you figured out what's going on with VFF yet?

Visual-Try-8081

Day traders will day trade. Nothing new in cannaland. Long GTI, HITI, MSOS, TLRY, and recently on the lows VFF (from bigger to smaller position)

Russticale

Well I'm hoping its a gap that never fills at this point. I'm so overweight in VFF after buying this AM. Should bounce, strong company. I'm suprised the canadian names arn't catching any sympathy today

200cents

What's going on with VFF?

Russticale

Augh I'm gettin smoked on my VFF entry! Wish I waited till this morning lols, started earlier this week.

SuzyCreamcheezies

You spelled VFF wrong.

Russticale

Holly cow VFF down another 6% premarket on equity offering news. The sympathy trade not working yet on that one sheesh. I bought some down at $2.32 just now, VFF will be fine long.

Russticale

Thanks Mate, that's gotta be the most exciting news. Plus the reverse splits, in anticipation of uplist. Man is it tempting to buy in 100% right now. I loaded like 35% long this week with my capital, wish I took it to 50% yesterday. Was buying PLNH, VFF, and trying to wait for MRMD under .08. This morning, my fomo chase entries are HITI, CRON, CGC, and ACB. Saving cash for the OTC American names I need to square up positions on.

Russticale

Timber. MSOS breaks the opening low of $5.03 and my weekly puts shall print. Bought calls on VFF yesterday, puts on MSOS.

The_Insider_Edge

Haven't they done like 1,300 kg this quarter. Doesnt $VFF do 3000kg per quarter. one month left lets see if they can do the same

TomorrowLow5092

VFF International awarded 2026 Producer of the Year 2026 at the Cannabis Europa in London. Village Farms International is a global leader in cannabis, plant-based consumer packaged goods, and sustainable innovation. The company is one of the world's largest and most profitable cannabis operators with an asset portfolio that spans over 7 million square feet of advanced greenhouse and indoor cultivation assets. They look to triple production by next year and the license to increase operations in the US will unfold soon. 2021: 4.6 metric tonnes produced. U.S. Securities and Exchange Commission 2022: 5.2 metric tonnes produced. U.S. Securities and Exchange Commission 2023: 6.8 metric tonnes produced. U.S. Securities and Exchange Commission 2024: 7.5 metric tonnes produced. U.S. Securities and Exchange Commission 2025: 9.0 metric tonnes produced (includes Netherlands Phase I start-up contributions). U.S. Securities and Exchange Commission Approximately 30 metric tonnes coming online by end of 2026 from Canada and Netherlands.

the_mammynun

Yeah weed retail expanding to grocery or convenience is the single biggest risk for high Tide long term. I do acknowledge it.  High Tide is a massively important partner to LPs because of the data they provide, and the advertising opportunities they offer via their footprint. In-store is they only place canna companies are allowed to advertise, and high Tide can broadcast those ads in nearly every city nationwide. + Preferred shelf space , etc.. High Tide is also diversifying in Europe now as an importer, so they actually are buying massive quantities of weed directly from LPs for import to Germany, and soon the UK and beyond. Also, in certain provinces like Alberta, and Saskatchewan, high Tide is licensed to buy directly from LPs. Every province operates a bit differently but you're right that it's not the case in Ontario and BC. I've got nothing against VFF, they are a great operator, I just don't think the Bud Lights of weed are necessarily going to come from Canada. They have a good head start though. I think the "Bud Lights" will focus 100% of their resources on marketing+distribution and simply partner with growers like VFF to source product, or cheaper sources in South America. Canada doesn't have the climate long term to compete on production as far as annual output or cost.

SuzyCreamcheezies

You should know by now that foodcooker only engages when you say nice things about VFF, HITI or Auxly. But don't bring up Auxly's \~1.5B share count.

GuyOnTheCouch420

Which private companies are gaining share? Seems like Auxly and Cronos are much bigger than any privates but i dont know any big private companies tbh. VFF is gaining internationally

Gambelero

One of the tendencies of capitalism, itself, is to over do things. I’ll use “cycling” here to refer to alternating periods irrational exuberance followed hard on by unjustified despair. In the period from WWII to Volcker, we had boom->recession cycle times of between three and four years, two post war in the forties, three in the fifties, two in the sixties and three from 1970 to 1981. The cycling between euphoria and panic was easiest to see in real estate. Canopy has been a poster child for cycling in our sector. It went up way beyond what future cash flows warranted several times during euphoric periods. Other companies (pre-Aphria Tilray up to $3000, VFF during the Texas hemp excitement, Charlotte’s Web during the CBD craze, and many others—note the numbers are split-adjusted) experienced similar run-ups. We’re sitting now where many of the LPs are way up from their capitulating despair level, but still down a huge amount from their highs in 21. What you have to ask yourself for Canopy and other LPs is whether you believe in their management. Someone in this pointed out the $4B wealth destruction. One could argue that Cronos’ managers have been the smartest. Fairview would nominate DeGiglio; others have pointed out Organigram’s management (though today’s report doesn’t give me a lot of confidence in the new CEO); others like High Tide; and you have to give SNDL’s management credit for their adroit reaction to the meme run, but they don’t seem nearly as successful when it comes to actually running a business. For my part, I see MSOs’ management as doing a much better job. Just in the sense of not making incredibly stupid acquisitions, they’ve been way better.

Forest_City_Frolfer

Hard to blame consumer confidence when both VFF and Cronos posted decent quarters. I think this is a OGI specific problem. They are losing marketshare. Rubicon and Auxly also report this week which will provide some valuable context

gdren

VFF is a bit of a different story on the carry forwards since they transitioned an existing operation. Auxly has a BUNCH more carry forwards (\~$240m) I believe, since they built their facility from scratch. It means they likely won't be paying taxes for several years.

FoodCooker62

I dont think they have credits for the entirety of the retained deficits. VFF recently ran through theirs and started paying regular income taxes after net income of roughly $30-40M after losing about 150M in the years prior (net). I dont know if it can be found in the 10K but if you ask shareholder relations at Auxly im sure they would be happy to help. 

Forest_City_Frolfer

Auxly Cannabis (TSX:XLY). They are a profitable Canadian LP. Their market cap (190M) is basically at book value (178M) yet they posted a 41M net income last year with quarterly operating cash flows around 10M per quarter. They also have obscene margins at 56% of net revenue, even while competing in the value segment. They are already currently undervalued by every metric I use to look at them. Revenues have been growing and they are eyeing international expansion in global medical. My thesis is that even if nothing happens from a US regulatory perspective, and international medical margins collapse, then Auxly is still in a great position because they are already comfortably profitable in the most competitive market that exists right now in Canadian recreational. So the thesis doesn't rely on any external factors to pump the stock, they are currently growing and any major catalyst would simply make that growth faster. The market doesn't realize they exist. They are firmly in penny stock territory at 0.14 per share and they have a huge float from when they nearly went bankrupt 2 years ago. They started a small share buyback (68M out of the outstanding 1.4 billion) but it is a start. I believe the expectation of a reverse split, and large float are what is weighing the stock down. Excise tax reform would make this company a whole different beast. Alternatively enough competitors exiting the market, or even just if they are able to continue their growth as it is. I would admit I am wrong if their margins collapse, their revenues decline and they shift back to negative net income. It is my most high conviction trade. I sold off most of my other holdings to go into Auxly. Cost basis 0.13 and 300,000 Shares, so it is my largest cannabis position by a significant margin. ( I also have 1000 shares VFF and 5000 Cannara)

Ok-Technology-3023

I'm thrilled to see someone mentioning High Tide. $HITI makes up a little over 50% of my portfolio/retirement. I have purchased shares as low as $1.36 and will commit to holding it until it revisits it's former $14 highs or experiences a 200% gain in a month or less similar to what $VFF did several month ago. This stock is truly undervalued.

GuyOnTheCouch420

there is no way that remexian and Sanity control all Canadian product. You've got ACB, TLRY, VFF, CRON all selling other ways. Plus a bunch of other smaller ones. I believe ACB or VFF are the biggest depending on the quarter but feel like different sources say different things.

SuzyCreamcheezies

Totally agree. This sub has always been hung up on a "tier-1 or nothing" mentality, not recognizing that other viable options exist. Picking up some private companies across multiple states is an interesting idea and would be nice way to get their foot in the door. I assume this would be far cheaper than negotiating with tier-1/2 companies for a buyout or merger. The argument is often that they can't compete (or dominate, lol) against the likes of Green Thumb or Trulieve (for example), but they don't have to on day-one. Most have decent revenue in Canada/international and this would be another addition to their portfolio. I still get the feeling that some LPs will lean more towards the supply, distribution and brand side of things if legislation allows (interstate commerce). For example, VFF could leverage their Texas greenhouses for their own products or white label partnerships. Tilray clearly has plans for hemp and distribution (as you have pointed out numerous times), and seem to be focusing heavily on medical as of late, so I could see them continuing with beverages while pursuing a larger medical partnership. And/or MedMen branded products instead of brick and mortar. I wonder if they have any optionality on MedMen's previous production facilities.

Humungusminimaglight

VFF also have Balanced Health Botanicals (BHB) in US and it will be interesting to see how they utilize that.

SuzyCreamcheezies

Canopy has Acreage and SNDL has Sunstream. I think Cronos has some level of MSO investment and Tilray *may* have some California licenses from the MedMen bankruptcy. I'm very curious how the "broader rescheduling" will shake out over the summer. LPs are generally not retail operators and I wonder if some (looking at VFF and Texas) are hoping for conditions that allow for interstate commerce so that they can function more closely to how they do in Canada and international. Be part of the supply chain and product creation, but without the retail component.

Tommygun194

$VFF

ImplementThese8486

Time to load up on VFF stock