Cannabis Stock Update: Let's Toke Business - Week of March 23th
Enterprise Group Named Lead Sponsor for Let's Toke Business: The Commerce of Cannabis.
by Ted Ohashi MBA, CFA
March 26, 2018 (Investorideas.com Newswire) On March 6, our Sponsor, Enterprise Group, Inc. [TSX: E] (a consolidator of services to the resource and energy sector in Western Canada) announced that it had entered into an LOI divesting itself of one of four subsidiaries, CT Underground for $21 million dollars. E shares are up approximately 40% YTD and upon close the Company would be debt free. Next step is to look for businesses that will continue and grow E's leadership in the industrial resource equipment rental market, initially in Western Canada.
The industrial rental market is expected to grow significantly into the 2020's. Enterprise shares have outperformed the markets Year-to-date. Shares are now trading at $0.425 up an impressive 40% since January 2nd 2018 while the S&P has taken a Trumping and is up only 4.25% YTD. Lots more to come.
Since the resource decline began in 2014-2015, the Company has been cashflow positive, and mounted a decisive return to profitability with Q4 2017 EPS of $0.02 and Q3 2017 EPS of $0.01. The Company is pleased with the activity in the first part of Q1 2018.
Week Ended March 23th, 2018
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