Seymour is an asset manager who’s been focused on emerging markets for two decades and was drawn to the marijuana industry a few years ago due to the “tremendous growth” it offers.
The broader stock market took a tumble last week and brought the cannabis stocks down as well. However, considering how high they had gotten, a little reversal seems healthy.
Canada legalized cannabis for adult use nationwide this week, and despite the fact that this huge industrialized nation took the leap, ‘Shark Tank’ host and Canadian businessman Kevin O’Leary is beyond weary of investing in pot stocks.
While new announcements from the U.S. Customs and Border Protection may be a sigh of relief for the industry, there remain a few concerns as Canada marks this historic day.
MedMen (MMNFF) continues its spending spree. The company is buying Pharmacann in a deal valued at $682 million. And seed-to-sale technology provider MJ Freeway has agreed to a merger with MTech Acquisition Corp.