Beacon Securities put out a note today on marijuana’s progress through several US states scheduled to vote on the topic of legalization on November 8. Seems the five states voting on recreational marijuana (no kids, it’s not just California) are all polling well for the yes vote.
As big money streams into California weed plays and liquid edible comparables, Tinley Beverage Company (TNY.C) has announced, after its $2.75 million $0.17 per share financing closed, warrants and stock options are being exercised in heavy numbers, bringing in a further $1.065 million to the company.
No doubt, the marijuana sector has been going on an absolute tear the last few weeks, but the fastest, most consistent winner in the green sprint has been little Tinley Beverage Company (TNY.C), which isn’t so little anymore.
I’m not usually a big fan of the beverage business, because getting a product onto store shelves is a ruthless game for the sort of scoundrels that, a hundred years ago, would have been selling swamp real estate to seniors. But if you can make it work, there are undeniable fortunes to be made. Red Bull sold 6 billion cans last year, and is valued at over $5 billion. Not bad for a drink that tastes like kerosene.