Was a couple of months back when I last told folks it was time to get out of the weed grow stocks. It wasn’t anything personal, I think there’s a lot of money to be made in the LP space, but just not from spring to the end of summer.
News Thursday announced two Canadian licensed producers have received their sales licenses from Health Canada, causing the publicly traded of the pair to double in share price.
He’s oft referred to as the Godfather of Weed in Canada, and today’s news explains why: Chuck Rifici, former federal Liberal Party CFO, co-founder of Tweed/Canopy Growth Corp (WEED.T), handler of over a dozen M&A transactions, and principal at private equity firm Nesta Holdings, has resigned from the boards of Aurora Cannabis (ACB.V) and Supreme Pharmaceuticals (SL.C) to devote time and energy to his new gig as CEO and Chairman of Cannabis Wheaton (CBW.V).
GLH is still out there swingin’. A deal announced by Oregon-based, Canada-listed cannabis oils outfit Golden Leaf Holdings (GLH.C) Tuesday looks interesting, not just because of the deal proper, but because it shows there’s going to be more to come.
Oh, the sky be falling in the weed market! At least that’s what you’d think if you were an alien landing on earth and getting your information from various online trading groups on Facebook, Twitter and more focused on the weed space.