The Morning Blunt
Volume 2| Issue 10
October 10, 2018
“Maintain a culture of respect”
Broadly cannabis stocks were down Tuesday after news circulated that Aurora has applied to trade on the NYSE in hopes of attracting larger US investors. Aurora is expected to be listed as ACB and will delist themselves from the OTCQX. Take a look at how other cannabis stocks fared Tuesday.
Many people inquire on whether they should purchase cannabis stocks, and the resounding answer by this analyst is ‘no’. While it may look like an exciting new industry there are many reasons to keep fickle start-up cannabis stocks out of your portfolio.
While no stock is completely recession proof, we do know that sin stocks are often more stable and resilient during a recession than other stocks. More research must be conducted on how cannabis will perform during recessive periods, however it is likely that just like sin stocks and healthcare stocks, cannabis consumption will also remain steadfast.
Canopy Growth completed their first transfer of cannabis to a US partner for research. The company proudly claims this is the first export of legal cannabis products from Canada to the US pursuant an import permit issued by the US Drug Enforcement Administration.
Helius Therapeutics announced it has leased a 1 hector acre facility in industrial East Tamaki for the purposes of cannabis cultivation, extraction, research, and manufacturing. The company hopes to set the standard for medical cannabis production in New Zealand touting state of the art equipment and control factors for the indoor cultivation site.
Recently US Attorney Bob Troyer criticized the legal cannabis industry and promised more investigations into legal businesses who are filtering cannabis to the black market. Johnathan Singer of The Denver Post wrote a response arguing that Colorado is on the right path.
Trulieve CEO Kim Rivers discusses the transition she is seeing with opioid addiction. According to recent studies states that have legalized cannabis have seen a reduction in opioid prescription use. Rivers hopes to see patients have an option between opiates and cannabis.
While cannabis use and legalization are widely supported among a majority of Americans, recently democrats are throwing their support to the industry, so much so, even republicans have been forced toward the middle on cannabis issues.
Texas Gov. Greg Abbott announced his support to reduce possession charges for small amounts of cannabis. Abbott’s stance has recently adapted from prohibitive to progressive after Lupe Valdez a former county sheriff lent her support to legalize medicinal cannabis.
Transportation minister Marc Garneau announced Tuesday that passengers flying within the country could carry as much as 30 grams in their baggage. The policy will go into effect on legalization day Oct. 17th.
President of Business of Cannabis Jay Rosenthal discusses Canada’s overall preparedness for legalization day focusing on government and industry, predicting that a cannabis shortage is to be expected in the near future.
Arizona shipping container company Linked Equipment has announced talks with Canadian cannabis firms to provide fully equipped, portable processing centers for expanding businesses. These fully customizable facilities will be ready to use the first day of install. The company modifies shipping containers to create processing facilities, extraction labs, grow pods, vaults, freezers, and offices.
The Incredibles team dives in to their next generation live resin advancements. Take a look at who could benefit from live resin extracts, where the company is heading, as well as what methodology Incredibles is employing to refine their process into an advanced hydrocarbon extraction system.