Opinions
Norman Levine
Cannabis Wheaton Income
CBW-X
DON'T BUY
May 29, 2018
$1.290
Stock price when the opinion was issued
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COMMENT
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.
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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.