INVESTORS SOUR ON POT (FOR NOW)
PHOTO BY BECCA ON UNSPLASH
“No one wants to invest in [cannabis] now,” a Canadian marketing professor told the New York Times.
While pot stocks have had a dismal year, isn’t the point of investing to buy low? This would seem to be especially true when demand keeps growing. (Nothing in WeedWeek should be considered investing advice.)
- Tilray, the Canadian MED company that was amog the hottest pot stocks of 2018, saw its shares dip below their July 2018 IPO price for the first time. The stock price is down about 90% from its high of almost $150 in September 2018.
Business Insider - MED and CBD company Green Growth Brands dropped its $310M all-stock bid to acquire vertically integrated MSO Moxie Holdings.
Hemp Industry Daily - A Tennessee man has hit vertically-integrated Florida company Trulieve with a federal lawsuit alleging it illegally sent unsolicited text message promotions. The company declined to comment.
Tampa Business Journal
Business Insider asked five VCs where they see opportunity in 2020.
Quick Hits
- For the fifth straight year, Colorado dispensaries will almost certainly rack up record sales in 2019.
Westword - For the first time, the EPA approved pesticides for hemp in time for 2020 planting.
Marijuana Moment - AdWeek named MedMen’s “The New Normal” one of the best ads of the year.
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