We’ve been doing our homework and have hand-picked five must-see cannabis-focused investor events (beyond the very well-known, business-focused MJBizCon) for our finance buffs.
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.
The big news this week, of course, was Canada. The country began its legal adult use cannabis sales on the 17th. While there wasn't a huge amount of dispensaries open, there were some that began sales at midnight.
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.
Investors at nearly every level are now throwing money at any cannabis company with a pulse in hopes of cashing in when this thing, whatever it is destined to become, finally matures.
What a crazy week for cannabis stocks. Tilray began the week at $117, which was already a fairly rich valuation. It closed at $154 on Tuesday and then all hell broke loose.