Tilt CEO Is Bullish on U.S. Cannabis, Expects Market to Reach $100 Billion
*By Chloe Aiello*
Tilt Holdings CEO Alex Coleman is bullish on U.S. cannabis ー and Tilt is positioning itself to have a presence all across the country to take full advantage of the shift from medical to recreational legalization as it happens.
"There's no question this will be the biggest market ー our internal numbers say probably $100 billion. The only variable in that is the time all these states go recreational and the price," Coleman told Cheddar on Thursday.
Tilt is an enterprise cannabis company focused on technology and infrastructure for the marijuana industry. The company sees revenue both from the cultivation and sales of cannabis, and from ancillary industries like software services. Tilt [reported on Thursday](https://www.nasdaq.com/press-release/tilt-holdings-reports-preliminary-consolidated-revenue-for-january-2019-and-fiscal-year-2018-20190214-00486) preliminary consolidated revenue of $18.3 million USD for January 2019 ー the first indication of the company's performance since it went public on the Canadian Securities Exchange in December.
Coleman said listing was a strategic maneuver to enable more acquisitions, but that he would like to see some appreciation in the company's estimated $750 million market cap before it makes more acquisitions or considers a move onto U.S. markets.Coleman did say, however, that a U.S. listing would be "ideal" and that the company would try to access the U.S. markets with its "substantial" ancillary revenue.
Tilt is also attempting to gain a foothold in U.S. states that have already legalized medical use to "capture the conversion" to recreational, Coleman said.
He thinks the opportunity to scale the market exists in those states, even if federal laws have not yet caught up to the state trend.
"It's interesting, everyone was discounting the industry based on the federal-state conflict, but that's really not the right way to look at it," said.
Aside from the U.S., Tilt also has its gaze trained on Europe, which is shaping up to be a promising marijuana market, especially following the [European Parliament's Wednesday vote](https://www.forbes.com/sites/javierhasse/2019/02/13/european-parliament-passes-cannabis-resolution-joins-who-in-supporting-medical-marijuana/#19ceb5f5fd5b) to encourage adoption of medical marijuana regulation in the EU.
But when it comes to the first G7 nation to legalize cannabis, Canada, Coleman said he's "not as bullish."
For full interview [click here](https://cheddar.com/videos/tilt-holdings-ceo-sees-europe-as-the-next-big-cannabis-market).
On this episode of On The Job presented by ADP: Gemma Burgess, CEO of Ferguson Partners, explains what people are looking for in an employer, and how to convey positive work culture to potential employees; Amy Leschke-Kahle, Vice President of Performance Acceleration at The Marcus Buckingham Company, an ADP company, breaks down how encouraging employee engagement and empowering employee voices can benefit every workplace and busts a myth about employee engagement while working from home; Jim Huether, CEO of Hyperice, discusses Hyperice's new employee mental health initiative, known as the Workplace Alliance, with 100-plus companies to combat the ongoing mental health crisis and how they're taking a hands-on, data-driven approach to the mental health crisis.
Amy Leschke-Kahle, Vice President of Performance Acceleration at The Marcus Buckingham Company, an ADP company, joins Cheddar to discuss how encouraging employee engagement and empowering employee voices can benefit every workplace and busts a myth about employee engagement while working from home.
Jim Huether, CEO of Hyperice, joins Cheddar to discuss Hyperice's new employee mental health initiative, known as the Workplace Alliance, with 100-plus companies to combat the ongoing mental health crisis and how they're taking a hands-on, data-driven approach to the mental health crisis.
Consumer prices saw an 8.6 percent jump in May, with fuel prices showing the biggest surge, climbing 17 percent last month. As inflation continues to climb to levels not seen in 40 years, President Biden took to calling out ExxonMobil and other major oil companies, accusing them of holding back production while continuing to collect huge profits at the cost of the consumer. Mark Avallone, the president of Potomac Wealth Advisors, joined Cheddar's Opening Bell to discuss. “They have reduced long-term expenditures. But why? Because the world is going to alternative energy and as consumers, if we thought that that welcome change to alternatives was going to happen without pain, we might have been mistaken," he said. "The less investment they make in oil because they're getting ready for a new world of electric vehicles, the less we're going to be prepared for oil shocks such as the one we got when Russia invaded Ukraine."
Catching you up on the stories you need to know this morning, the U.S. could soon get its first major gun safety law in years, the House Select Committee investigating the January 6th attack on the U.S. capitol holds its second hearing, and today might just be the day the Supreme Court overturns Roe v. Wade, and decides on new gun laws.
