Things I Did Yesterday

Here are Monday’s things:

* I reshorted the indices after the market closed last night — $SPY at $767.32 and $QQQ at $717.13.

* I added to my $MSOS common at $4.94 and call long positions (slightly out of the money for September and October).

* I added to $VRNO at $6.12.

* I initiated a very small $GLD long at $405.42 (which I added to overnight at $401.28).

* I added to my $CRM short at $260.24.

* I reshorted the private equity space — $APO at $137.61, $BX at $142.94 and $KKR at $110.63.

* I reshorted $CRWV at $85.02.

* I reshorted $JPM at $356.14.

Long MSOS common VL calls S VRNO S GLD VS

Position: Short SPY (S), QQQ (S), CRM (S), CRWV (VS), APO (VS), BX (VS), KKR (VS), JPM (S)

Things I Did Yesterday

Here are Thursday’s things:

*I shorted $CRWV at $92.32 and covered at $87.98.

* I added to $GRNY short at $28.03.

* I shorted more $JPM at $456.76 and covered my entire position at $362.82.

* New short $CRM at $252.54.

* Shorted $NVDA $226.08 and covered NVDA at $224.04.

* Added to $VRNO at $5.87, to $MSOS long at $4.79 and initiated short-dated call options in MSOS.

* Covered $QQQ short at $715.98.

* Shorted more $SPY $771.22

Position: Long VRNO (M), MSOS (VL), MSOS calls (S); Short SPY (M), NVDA (VS), GRNY (M), CRM (S) 

More From Randorama

Randy:

Verano Enters Cannabis Beverage Category with Debut of Easy Landings, Company’s First National Beverage Brand Featuring Four Delicious Flavors and All-Natural Ingredients

Verano Holdings Corp. ($VRNO) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the launch of Easy Landings, the Company’s first dedicated beverage brand. Easy Landings will initially be available for purchase starting August 21 at Verano’s Zen Leaf dispensaries and third-party partners in four core Verano (VRNO) markets – Arizona, Illinois, Nevada, followed by New Jersey on August 28 – with plans to scale across additional states in 2026 and beyond.

Designed to bring precision, flavor and flexibility to any occasion, Easy Landings beverages are crafted to be mixed seamlessly into any drink for a custom mocktail or enjoyed on their own. Initially launching in four delicious flavors including Lemon Lime, Watermelon, Mango and Black Cherry, Easy Landings beverages optimize taste, adaptability and simple dose control in a portable and flexible format. Each 2 oz (60 ml) bottle of Easy Landings contains 100 mg of fast-acting THC, curated flavors and formulas to induce a predictable experience, with a capful measuring 5 mg of THC per serving.

Cont’d:

Easy Landings aims to engage a variety of consumers by tapping into existing demand for THC beverages and capitalizing on multiple trends, including the continued decline in alcohol consumption and growing popularity of macrodose edibles products. In 2025 alone, full year cannabis beverage dispensary sales grew 13%1 across all markets in which the Company operates, with non-carbonated beverages and shots experiencing the highest rate of growth. Given the category’s ongoing growth and the pending closure of the 2018 Farm Bill loophole that unintentionally created a multi-billion dollar hemp-derived THC beverage market, Easy Landings is well positioned to capitalize on existing demand as a brand new, all-natural alternative for consumers seeking cannabis beverages that are delicious, safe, tested and regulated.

Leveraging consumer trends favoring alternative and macrodose cannabis products, THC drinks and alcohol-free options, Easy Landings 100 mg single serve beverages feature four delicious flavors with all natural, vegan and gluten free ingredients designed for sipping straight or mixing into the beverage of your choice

Positions: Long VRNO (S/M)

A Consolidation of the Cannabis Industry Is Likely in the Months Ahead

* Rescheduling is happening, hemp might be going away, the illicit market is finally going to be addressed, cannabis pricing is likely to rise, credit cards are being introduced and synergistic industry mergers lie ahead (we expect $VRNO to be one of the first to be acquired)  

* Buying cannabis stocks today is getting ahead of these and other favorable factors and developments 

* By accumulating cannabis stocks today we are getting in front of institutional capital, which is going to come into the sector…  

Yesterday I outlined my optimism about the cannabis space (I Want to Take You Higher

In that column I highlighted the case for industry takeovers and consolidation:

* The equity capitalization of the five largest cannabis players only totals about $5.5 billion!

* I expect industry consolidation over the balance of the year and it is not out of the realm of possibility that tobacco or consumer packaged goods companies try to get a toehold in the cannabis sector through the takeover of several of the top-five individual cannabis companies.

After the close, my friend Shadd Dales of The Dales Report hosted Curaleaf’s ($CURLF) CEO Boris Jordan, who made a very strong case that we will see a swift consolidation and robust merger activity in the cannabis industry (upon rescheduling and the determination and (FinCen) guidance for some retroactive relief of U.S. uncertain tax positions (UTP)/liabilities): (starting at  the 26 minute mark)

“M and A is definitely happening. Our job is to make our companies the best in the industry but there is no question that this industry is primed for consolidation. It’s going to happen, 100%. The benefits of the merger of two big MSOS –   $150 million to $200 million of free cash flow drops to the bottom line after eighteen months. This industry makes no sense in having so many participants and existing in its current form. Already, all of our growth facilities are full (we are at 110% of growth capacity) and we are getting more efficient (we used to grow 50 grams/sq feet and we are now at 150 grams/sq feet) – double the efficiency of two years ago. We don’t have enough capacity. By bringing two companies together (instead of building another $100 million grow) is good for pricing… it’s the right thing for the industry. It’s a 2027 issue and it will happen quickly.

I have already approached top MSOSs for deals. Curaleaf would be better off being twice the size of its current state…

The tobacco companies need the cannabis companies, it’s a similar business (Altria and Philip Morris are already in the business. Japan Tobacco is looking around. Strategics will be buying. What will happen is that in the U.S  is that we will ultimately have two or three major players.”

– Boris Jordan, Curaleaf CEO

Parenthetically I expect one of our largest individual positions (Verano Holdings ($VRNO) to be one of the first large MSOSs to be acquired. 

Post Script

Back to fundamentals. I highlighted that an important investing case was that cannabis fundamentals are stabilizing and beginning to improve, which we clearly saw in yesterday’s release of Curaleaf’s second-quarter report. 

Curaleaf (which I am long) reported much better than expected quarterly results on Thursday and the shares responded in kind (+9%).

Position: Long MSOS (VVL), MSOX (S), CURLF (VS), VRNO (S) GTBIF (S/N), TRLV (S/M), TSNDF (VS), GLAS (S)  

Attention Cannabis Investors

If you are involved in cannabis and Verano Holdings ($VRNO), I recommend this podcast at 4 PM today:

Position: VRNO (S)

Things I Did Today

Here are today’s things:

* Shorted $SPY at $774.24 and $QQQ at $724.26

* Added to $MSOS at $4.11, $GTBIF at $6.80, $VRNO at $5.20

Position: Long MSOS (VVL), GTBIF (S), VRNO (S); Short SPY (M), QQQ (S)

My Cannabis Tweet of the Day (Part Deux)

Positions: Long ($VRNO) (S)

Things I Did Today

Here are today’s things:

* I shorted $SPY at $746.06, $746.09  and $QQQ at $692.96, $695.61    

* I covered SPY at $742.63 and QQQ at $687.21

* I added to $GLAS at $9.57, $GTBIF at $7.16, $TRLV at $8.35 and $VRNO at $5.28.

Position: Long GLASF (S), TRLV (S), VRNO (S)