What are you smoking?
The cannabis space is still the wild west. Real Money’s Kevin Curran, who has covered the sector extensively, is watching to see which company carves out its space as the next Google (GOOGL) . Because, as Curran points out in this week’s Trading Strategies podcast, Google wasn’t the first search engine to be created. Only the most successful.
Tilray (TLRY) hit the newswires on Friday, Jan. 11 after the biggest stakeholder in the company, Privateer Holdings, announced that it would hold onto shares until at least the second half of the year.
Last month, Tilray and AB InBev’s (BUD) unveiled a new research partnership that will explore non-alcoholic beverages that contain THC and CBD, both key chemicals found in marijuana but with very different purposes.
The beginning of the week saw Constellation Brands (STZ) fall to a two year low after posting weaker-than-expected quarterly earnings. The company also announced a muted outlook that was pegged to rising costs associated with its $4 billion investment in cannabis specialists Canopy Growth Corp. (CGC) The company has since rebounded after an analyst upgrade.
Bill Newlands, the incoming CEO of Constellation, called the global cannabis market “the most significant global growth opportunities of the next decade, and frankly, our life time” adding that it was “opening up much more rapidly than originally anticipated.”
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