GROWING PAINS, AND FEES, ON WALL STREET
PHOTO BY CHRIS LI ON UNSPLASH
Wall Street broker dealers don’t know what to do about pot stocks.
WSJ
- Lack of clarity has led some Wall Street firms to block clients from investing in cannabis stocks and even turn away clients.
- Some brokers are keeping an eye on clients whose money derives from the industry.
- Business Insider details the policies of leading banks Morgan Stanley, Merrill Lynch and Wells Fargo.
Gotham Green Partners, a private equity firm co-founded by the CEO of Canadian firm Cronos Group, stands to make $120M from Cronos’s $300M acquisition of California CBD brand Lord Jones.
MarketWatch
Quick Hit
- Lawncare company Scotts Miracle -Gro had a good quarter at its cannabis hydroponics business.
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