CNBC's "Fast Money"
Dollar Store Doldrums, and Pot Stocks Light Up for a Second Straight Day 8/31/23
Aug 31, 2023
George Archos, CEO of cannabis producer/retailer Verano, talks about the recent recommendation for marijuana legalization. Dollar General's poor financial performance and stock decline is also discussed, along with concerns about an upcoming recession and market analysis of Broadcom's earnings.
44:34
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Quick takeaways
- Dollar General's poor performance suggests a potential slowdown in consumer spending.
- The Department of Health's recommendation to reassign cannabis to a less restrictive drug category could significantly benefit the industry.
Deep dives
Lulu Lemon Beats Expectations
Lulu Lemon reported a beat on the top and bottom lines, with revenue growth in North America and international markets. The company's forecast for the third quarter was above expectations, and it delivered strong operating and gross margins. While comparable sales growth slightly missed estimates, Lulu Lemon's strong momentum is expected to continue into the third quarter.
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