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Wednesday, January 19, 2022

Will This Save TILT Holdings Inc (OTCMKTS:SVVTF)?

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The action has been troubling for TILT Holdings Inc (OTCMKTS:SVVTF) shareholders, to say the least. Shares of the stock have been dripping value for the better part of the past 3 months. But we would point to one key locus of hope: the rather exquisite letter to shareholders just put out by management. It hit truly all the right notes: transparency, quantitative facts, and the unpredictable vicissitudes of “markets”. It’s an extremely well-trodden path of successfully shoring up confidence.

Here’s a representative passage: “While I won’t make it a regular practice to comment on daily stock price movements, I have observed there remains a great deal of confusion out in the market around TILT. After a strong first quarter earnings last week where TILT reported $40mm of pro forma revenue, representing 3x year-over-year revenue growth and a 330 basis point improvement in Adjusted pro forma EBITDA Margin compared to the same period a year ago, I do think it is valuable to briefly check-in.”

TILT Holdings Inc (OTCMKTS:SVVTF) trumpets itself as a vertically-integrated technology and infrastructure company, engages in the provision of various products and services in the cannabis industry.

It focuses on the production and delivering genetically researched cannabis products through the wholesale market in partnership with retail operators; and provision of software and services that help retail partners in connecting with retail customers with knowledge based promotional activities.

The company is based in Vancouver, Canada.

According to company materials, “TILT is a leading provider of products and services to businesses operating in the cannabis industry. The Company offers the contract manufacturing of marijuana in a variety of form factors, vaporizer and inhalation devices, business and consumer delivery services and a broad suite of software products for over 1,500 retailers and brands throughout the United States (“U.S.”), Canada and Europe. The majority of TILT’s products are customized to client specifications and branding, all enabling them to operate their businesses more efficiently and connect with their customers more effectively. The Company is organized in two main business units, Software & Services and Consumer Devices & Packaged Goods, designed to augment competencies across the organization in research, manufacturing, packaging and technology to deliver end-to-end services and customer solutions. All of TILT’s products are supported by an extensive research process led by scientists and engineers, who use data analytics and discovery to produce new products, helping shape the industry. Headquartered in Cambridge, MA, with offices throughout the U.S., Toronto and London, TILT has over 500 employees and has sales in 40 U.S. states, Canada and Europe.”

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As noted above, SVVTF just put out an interesting piece of shareholder communication that we think did an extremely effective job of messaging in the company’s favor, and it could have an effect going forward.

Even in light of this news, SVVTF has had a rough past week of trading action, with shares sinking something like -26% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -30%.

Furthermore, the stock has registered increased average transaction volume recently, with the past month seeing 86% over the long run average.

The move could be backed up by similar campaigning for the value proposition inherent in the stock’s shares, as noted at the tail end: “I look forward to maintaining a direct dialogue with our shareholders and prospective investors on TILT and our opportunity ahead as one of the largest and most innovative US-focused cannabis companies in the industry.”

Now commanding a market cap of $316.71M, SVVTF has a significant war chest ($7.3M) of cash on the books, which must be weighed relative to about $1.7M in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $SVVTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $SVVTF, either long or short, and we have not been compensated for this article.

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