Welcome to the Cannabis Investing Newsletter Forum. Feel free to find your favorite cannabis stocks and contribute content as you please; content that continues the discussion of and analysis of cannabis stocks. – D. H. Taylor
Harborside HBORF Stock Upside Potential For Long Term Investors
Harborside HBORF stock is a fully vertical cannabis company in the Bay Area, California, as well as having a dispensary up in Oregon. There are six total dispensaries; 3 fully owned, 1 fully managed, 1 with a total of 21% ownership; all in California, as well as the Oregon dispensary. At the beginning of the year, Harborside guided that they would be printing about $65M - $75M in revenue. They just recently put in their MD&A that they will miss this. Given what they have printed, they are looking like they might get luck to hit $55M - $65M. Also, Harborside is looking to divest Oregon and focus entirely on California. That is a good idea, if you ask me as this is the biggest single market in the United States, even bigger than the entire country of Canada. Also, there is a dispensary that Harborside is moving to a different location. By doing this, Harborside will be able to better serve the area and, there will be cost savings. For now, it does not appear that the State of California is issuing any new dispensary licenses. This could be both an advantage and disadvantage simultaneously.
For now, focusing on cost savings, bringing the core business into a collective sovereignty, will better position Harborside moving forward.
I wanted to break down what there is now for the company but, looking forward is going to be difficult since we do not have the numbers for splitting out the company. Nonetheless, this is a decent starting point for keeping an eye on Harborside.