Opinions
Wolfgang Klein
WeedMD Inc
WMD-X
BUY ON WEAKNESS
Jun 22, 2018
$2.120
Stock price when the opinion was issued
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COMMENT
A recent article by a market analyst suggested Canopy (WEED-T) has an advantage with multiple provincial locations and about 5.6 million square feet of space including a 700,000 square foot facility in Quebec expected to be in operation by May this year. He guesses their capacity will be 270 million grams per year, which should project $1.1 billion in annual sales beginning in September most likely. They are a monster in this space.
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For his growth portfolio he owns HMMJ-T, which Canopy is a part of. He added a little more Canopy to top up. Buyer beware, it has a $9.5 billion market cap, making it a very expensive company to buy. He likes the management. He would like to see the Canadian banks get in favour of the marijuana stocks once it gets acceptance now that it is legalized. He thinks supply will exceed demand in Canada in the next few years ahead. He thinks there could be emerging opportunities in the US given the vast size of the market there.