$57B
85
The last month has been sobering after the spectacular run up to the end of 2017 that extended into the early days of 2018.
From my first article back in the spring of 2016 it has been emphasized that the industry must be viewed as a vibrant ecosystem and that single events can send profound shockwaves throughout the landscape. And since that article was written, it often appeared to be one step forward two steps back followed by five steps forward only to then take six steps back. But let’s have a quick look at how the industry has truly evolved.
NASDAQ denied MassRoots Inc’s (MSRT) application to trade on that exchange in 2016. Today, a fully operational Cannabis holding company with two Licensed Producers in its portfolio trades on NASDAQ and that company is no stranger to these pages as we introduced it to you when it was trading well under $0.50 – Cronos Group (CRON). You also know from our last few issues that NYSE listed Alliance One International (AOI) is in the progress of acquiring a majority stake in one Canadian Licensed Producer and a majority stake in a late stage license applicant also in Canada. According to AOI, if all comes to fruition, they could reach 1-million square feet of grow space. Constellation Brands (STZ) is now the largest shareholder of Canopy Growth Corp – the world’s largest legal cannabis producer. STZ just announced a significant increase to its dividend.
In Canada, the tide had truly turned when politicians and leaders appeared on the Boards of legal Cannabis companies. On April 11th, here in the US, it was reported that “John Boehner, former House speaker, joining cannabis company board”. Congress continues to ensure that the Judiciary has a budget of $0 to investigate, charge, or prosecute any person or business that is operating in full lawful compliance of State laws and regulations with respect to legal cannabis.
I am writing this sentence after I wrote this article because this article echoes what I wrote above that when politicians join Boards you can sense the change of the seasons in the air and the article is titled in part “ … Former Republican House Speaker Marijuana News Signals Pendulum Swing Toward Legalization”.
2027