Never Mind!

The cannabis industry has lost a lot of cannabis analysts during this bear market that started in early 2021. One of the analysts, formerly at Cantor Fitzgerald, runs his own firm now, Zuanic & Associates. I have not communicated with Pablo Zuanic directly since he started his new firm, perhaps never. I am not negative on him and do follow his work, citing it here and at Seeking Alpha at times.

I am not writing this to criticize him or his work, but I do want to share that Zuanic recently quit covering three cannabis stocks. With so many analysts leaving, a reduction in coverage can cause a challenge. The three that the firm quit covering were not companies that I followed closely, though I did pay attention to them: Intercure (INCR), LFTD Partners (LIFD) and TILT Holdings (TLLTF).

No reason was provided, though the piece discussing the termination of coverage did give the full list of coverage that remains. There are over 40 companies still covered, with a rating provided on 8 MSOs, 1 CBD company, 6 Canadian LPs, an Ancillary company and 3 Finance companies (19 total).

I don't think anyone should care about these reductions of analyst coverage. I never followed LIFD or INCR at 420 Investor, though I did used to include TLLTF in my coverage. The reason I am sharing this is that LIFD was just announced as a client of Zuanic & Associates, which initiated coverage on 9/24/24 with an Overweight rating.

The firm last wrote about LIFD on 11/22/24, maintaining its Overweight rating. Since the initiation, the stock, which closed on Friday at $0.2664, has dropped 59%. In all fairness to Zuanic, the report warned that there was a 10% chance of a federal ban on hemp-derived products, which just took place (not effective for a year). It could get worse, as the company filed its 10-Q and issued a press release today suggesting troubles ahead.

I doubt any readers will want more information, but I am happy to write a piece here on this stock.