Aug. 18 at 3:19 PM
$SNDL The market is missing the true intrinsic value post-Q2 earnings. Yes, Q2 was a miss (
$235.8M rev). But the real play is the Surterra (Parallel) strict foreclosure that closed July 27th.
SunStream just wiped out
$842M of Parallel’s legacy debt. SNDL now holds indirect control of 56 US dispensaries (FL/TX/MA) pulling in
$150M annualized.
THE CATALYST: SNDL is bypassing Nasdaq's ban on US assets by splitting medical vs. rec. They are preparing to directly consolidate the Florida/Texas medical assets into their SEC filings in the coming months (fueled by the DEA's Schedule III shift).
When that
$150M ports over, the annualized revenue hits ~
$1.09B. At the current depressed 0.36x P/S, that's
$1.54/share. But as a Nasdaq-listed *US Medical Operator*, the multiple expands. Even a conservative 0.75x P/S values
$SNDL at
$3.21/share.
$MSOS $CURLF $TRLV $SPY
https://www.surterra.com/
https://www.netacare.org/northampton
https://www.goodblend.com/
