OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS
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Credit Tracker By Industry Sector
Credit Tracker By Sector
Credit ratings are not currently available for public cannabis companies leaving companies, lenders and investors with a gap of information. The Viridian Cannabis Credit Tracker fills this gap. The model uses 11 market and financial statement variables to discern 4 key credit factors: Liquidity, Leverage, Profitability, and Size, to provide credit/liquidity analysis for over 370 public Cannabis/Hemp companies.
Week ended 11/17/2023
Liquidity in the Psychedelics sector improved this week, with the median and 3rd quartile free cash flow adjusted current ratio rising to -.22x and 2.44x, respectively, from -.33x and 2.15x last week. Nonetheless, the -.22x median for the 25 Psychedelic companies in the Viridian Capital Credit Tracker database indicates that more than half have significant liquidity stress, which could force dilutive equity issuance or motivate distressed M&A. The prospects of plant-touching rescheduling have taken some of the wind out of the sails of Psychedelics, with Tier-one cultivators now outperforming psychedelics on a YTD return basis. The relative drop in attractiveness could complicate the financings the Psychedelics sector requires.
Week ended 11/17/2023
Liquidity in the Psychedelics sector improved this week, with the median and 3rd quartile free cash flow adjusted current ratio rising to -.22x and 2.44x, respectively, from -.33x and 2.15x last week. Nonetheless, the -.22x median for the 25 Psychedelic companies in the Viridian Capital Credit Tracker database indicates that more than half have significant liquidity stress, which could force dilutive equity issuance or motivate distressed M&A. The prospects of plant-touching rescheduling have taken some of the wind out of the sails of Psychedelics, with Tier-one cultivators now outperforming psychedelics on a YTD return basis. The relative drop in attractiveness could complicate the financings the Psychedelics sector requires.
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