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Midas Letter RAW 102: Macroeconomics and Cannabis News & Analysis


Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business.

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0:00 – Macroeconomics and Cannabis News and Analysis with James & Ed
-uniformly bad earnings (from a large cap market perspective)
-Canopy Growth (TSE:WEED): reported big loss today, $330M off balance sheet; in line with management’s expectation; SKUs 30% market share; announced plans to acquire Ebbu Inc; 34% increase in medical patients
-overreaction in cannabis market to reporting
-Supreme (CVE:FIRE) reported $5.39M loss in Q1 report; supply agreements in 6 provinces
-Tilray reported Q3; loss of $18.7M; 8 Canadian supply agreements
-Plus (CNSX:PLUS) best selling edibles in California
-Valens (CNSX:VGW) extraction agreement
-FlowerOne (CNSX:FONE) acquisition of NLVO in Nevada

10:34 – VIDEO – Canada is now a cannabis export nation. Liz West has more.

13:38 – Macroeconomics and Cannabis Analysis with James & Ed
-ML indexes: everything down 5-8%; large caps the biggest losers
-comparison between S&P and cannabis index daily chart
-do gaps get filled? yes; tail filled the gap, Ed predicts tomorrow things will go up
-oil and natural gas diverged this week
-watch James’ Canopy Growth stock buy on the cannabis/S&P charts

28:23 – Midas Letter Q&A with viewers
-Q: when will cannabis companies start to make money post-legalization? A: No one knows, but relationship between S&P and cannabis stocks; need a sector-wide catalyst
-Q: when is the next recession? A: loaded question; arguably already here; political issues, tech stocks topped out etc; if it’s not already here, it will be here soon
-Q: Thoughts on Cannabix (CNSX:BLO) (selling roadside tester); A: prefers FluroTech tester
-Q: Can JUJU make money? Need to access capital, having trouble with that
-break in the pattern: S&P tracking downward, WEED tracking upward
-Canopy Growth: losses not really losses; not significant, used money to invest in Europe and Asia
-most of the big gainers on TSX and TSXV today mining and oil and gas
-warrants: set by company; options: set by exchange; warrant the right to buy a stock in the future at a known, fixed price

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