Opinions
Bruce Campbell (2)
Cannabis Wheaton Income
CBW-X
COMMENT
Sep 14, 2017
Stock price when the opinion was issued
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Just announced 14 new streaming partners. The problem is that crops are inherently risky, and degrade with time. The companies are not approved, so where is the company going to get the finance to invest in desperate pre-approvals? The number of square feet of cannabis growth is going up. The problem is valuation.
He hasn’t been a fan of marijuana stocks. Thinks its way too early. Some companies will be winners and the rest will be losers, and you still don’t know who the winners are going to be. The biggest problem is valuation, even Canopy’s CEO has been questioning valuation. You are starting to see officers and directors starting to leave cannabis companies knowing those stocks aren’t worth what they are, but being insiders they are being restricted from selling, and they actually have to leave to start selling, and we’re starting to see that.
They’ve put together an amazing team, and seems to have covered all the bases. What the Street and investors don’t like is all the murkiness behind who got the really, really cheap shares, and as to how much the stock price has gone up. Expects it will remain penalized for a while.