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For those concerned about how the NYSE may react to our first case study’s presence in the legal cannabis industry, PM made its entry several months early in January.
This Bloomberg article referred to the cannabis industry as a Pot of Gold and PM’s initiative may ensure it leads what will be M&A.
As the USA marches towards the end of the prohibition era, PM will be amongst the first to enter the domestic US cannabis industry and there have always been rumours that is eying additional international expansion (in Canada for example). Tobacco companies, like Retail Investors, need to diversify and transitioning to a parallel product stream only seems natural.
Even this industry heavy weight is not immune to the snake-oil salesmen spreading false rumours such as PM introducing a marijuana cigarette. Common sense suggests that just could not be true because this would be a direct domestic production of a substance that is illegal federally and in direct contravention of, among other things, NYSE listing requirements. The story was quickly confirmed as a hoax.
One cannot avoid the elephant in the room and much like Constellation Brands, many Retail Investors may have a risk and/or ethical aversion to investing in such companies regardless of their ranking on the much coveted Top 25 Stock Pick list.
AbbVie Inc.
NYSE:ABBV
As At Date 10/14/2017
Shares Outstanding: 1,594,094,698 (www.investing.com)
Share Price: $0 Market Cap: $0
Qtr. Dividend: $0.64
Case Studies
Constellation Brands, Inc.
NYSE:PM
As At Date 9/28/2017
Shares Outstanding: 1,553,202,587 (www.investing.com)
Share Price: $0 Market Cap: $0
Qtr. Dividend: $1.07