Top tip: You guys out there whining about ‘the market’ being down are finding excuses for the wrong problem.
North America’s legal cannabis market is just getting started, and until now, most of the focus has been on two major types of businesses: cultivators that grow the green plant and dispensaries that do the selling.
Back in December, I wrote a few stories about C21 Investments (CXXI.C), and how, at a $50 million market cap and $0.71 share price, and with $35m in revenues coming in from US assets, it was a bit of a steal.
Let’s face it, pot is pungent and no matter how you slice it, once you light it in public, everybody within a twenty foot radius knows what you’re up to and like torching a fat Cuban cigar at a bus stop, hardly anyone is appreciative of your activity.
I love it when the market is busy fighting over inflated market caps, because I’m a Moneyball guy. I like value, and while a lot of money has moved toward Canadian cannabis operators in recent years, the size of the market down south is only now starting to become clear.
People sometimes ask me for advice. The two questions I’m asked most are, ‘What stock is going up next’ and ‘Why should I listen to you?’
C21 Investments (CXXI.C) announced the acquisition of Megawood Enterprises, owner of the Pure Green Dispensary in Portland, Oregon.
C21 Investments (CXXI.V) has received regulatory approval to acquire Phantom Farms in Oregon, and closed the deal on Silver State Relief and Silver State Cultivation in Nevada.