Investors send pot stock soaring on possible tobacco deal

[JacksinPA]

https://www.cnn.com/2018/12/03/investing/cronos-altria-takeover-rumor-marijuana/index.html

New York (CNN Business)The company that makes Marlboro cigarettes may be looking for a new vice. Altria could find that the red-hot cannabis industry is a much-needed supplement to its stagnant tobacco business.

Canadian cannabis company Cronos Group surged Monday after Reuters reported Altria may want to buy the company. The stock was up nearly 30% at one point before it was briefly halted for trading midday Monday. Shares were still up 12% when trading resumed.
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When big business starts buying into Cannabis you know which way the wind is blowing. Their bean counters with their spreadsheets know where to put their $$$.

 

[Surrealistik]

https://www.cnn.com/2018/12/03/investing/cronos-altria-takeover-rumor-marijuana/index.html

New York (CNN Business)The company that makes Marlboro cigarettes may be looking for a new vice. Altria could find that the red-hot cannabis industry is a much-needed supplement to its stagnant tobacco business.

Canadian cannabis company Cronos Group surged Monday after Reuters reported Altria may want to buy the company. The stock was up nearly 30% at one point before it was briefly halted for trading midday Monday. Shares were still up 12% when trading resumed.
============================================
When big business starts buying into Cannabis you know which way the wind is blowing. Their bean counters with their spreadsheets know where to put their $$$.

To the surprise of no-one; we've already had big names buying positions and stakes in marijuana companies, and MJ is absolutely going to be big business 5 years into the future.

Expect pot stocks to soar after Trump gets turfed and federal regs against marijuana are relaxed or even rescinded.

 

[Jetboogieman]

Problem is how does this work, as far as I understand, because of rules in Federal prohibition, pot companies list themselves on the Canadian stock exchange because they can't on the American one, can Altria which is listed on the NYSE, acquire such a business and not run afoul of any current laws?

 

[Jetboogieman]

To the surprise of no-one; we've already had big names buying positions and stakes in marijuana companies, and MJ is absolutely going to be big business 5 years into the future.

Expect pot stocks to soar after Trump gets turfed and federal regs against marijuana are relaxed or even rescinded.

Not if Congress doesn't get off its ass.

I feel like the moment anyone even tries to move on this, more Conservative voters are gonna flip their ****.

 

[The Mark]

https://www.cnn.com/2018/12/03/investing/cronos-altria-takeover-rumor-marijuana/index.html

New York (CNN Business)The company that makes Marlboro cigarettes may be looking for a new vice. Altria could find that the red-hot cannabis industry is a much-needed supplement to its stagnant tobacco business.

Canadian cannabis company Cronos Group surged Monday after Reuters reported Altria may want to buy the company. The stock was up nearly 30% at one point before it was briefly halted for trading midday Monday. Shares were still up 12% when trading resumed.
============================================
When big business starts buying into Cannabis you know which way the wind is blowing. Their bean counters with their spreadsheets know where to put their $$$.

It should never have been made illegal in the first place.

We're only continuing to keep it so because it's "dangerous" nature has been incorporated into our system, so that generations learned lies about it their entire lives, and now when they are in power do not realize they are perpetuating those lies.

Like the "gateway drug" bull****.

 

[JacksinPA]

Problem is how does this work, as far as I understand, because of rules in Federal prohibition, pot companies list themselves on the Canadian stock exchange because they can't on the American one, can Altria which is listed on the NYSE, acquire such a business and not run afoul of any current laws?

Likely through a Canadian subsidiary:

https://www.sec.gov/Archives/edgar/data/764180/000119312511045778/dex21.htm

 

[can2man]

I won’t buy weed from big business.

 

[JacksinPA]

It should never have been made illegal in the first place.

We're only continuing to keep it so because it's "dangerous" nature has been incorporated into our system, so that generations learned lies about it their entire lives, and now when they are in power do not realize they are perpetuating those lies.

Like the "gateway drug" bull****.

The story goes that newspaper tycioon William Randolph Hearst owned a lot of forest in the Pacific NW to help make the paper for his newspapers. Hemp (Cannabis) could be used to make newsprint paper in competition with him. So guess what happened to Cannabis?

 

[Surrealistik]

Problem is how does this work, as far as I understand, because of rules in Federal prohibition, pot companies list themselves on the Canadian stock exchange because they can't on the American one, can Altria which is listed on the NYSE, acquire such a business and not run afoul of any current laws?

Big Canadian weed companies like Canopy and Aurora, both of which I have investments in are listed on the NYSE.

Not if Congress doesn't get off its ass.

I feel like the moment anyone even tries to move on this, more Conservative voters are gonna flip their ****.

Maybe. At the same time marijuana legalization is overwhelmingly popular, and growing, with more and more states legalizing all the time; federal legalization seems all but inevitable at this rate, and sooner rather than later.

 

[The Mark]

The story goes that newspaper tycioon William Randolph Hearst owned a lot of forest in the Pacific NW to help make the paper for his newspapers. Hemp (Cannabis) could be used to make newsprint paper in competition with him. So guess what happened to Cannabis?

A nice old-timey story of nostalgia about a very rich business owner trying to make more money by eliminating the competition.

 

[Jetboogieman]

Big Canadian weed companies like Canopy and Aurora, both of which I have investments in are listed on the NYSE.

Thanks for setting me right there.

Maybe. At the same time marijuana legalization is overwhelmingly popular, and growing, with more and more states legalizing all the time; federal legalization seems all but inevitable at this rate, and sooner rather than later.

I dunno man, given the split in Congress, I don't see it happening anytime soon, I don't think Evangelicals are gonna go for it, which means Republicans aren't going to go for it.

I dunno if the best that can be hoped for is that its taken off Scheduled Status and the individual states can have at it, but without a Federal framework I just wonder if it'll hurt or help, especially if some states choose to be more strict with it, causing problems with distribution.

 

[Surrealistik]

Thanks for setting me right there.

No prob!

I dunno man, given the split in Congress, I don't see it happening anytime soon, I don't think Evangelicals are gonna go for it, which means Republicans aren't going to go for it.

I dunno if the best that can be hoped for is that its taken off Scheduled Status and the individual states can have at it, but without a Federal framework I just wonder if it'll hurt or help, especially if some states choose to be more strict with it, causing problems with distribution.

If the Republicans stick with deeply unpopular policies though, which a continuation of federal MJ prohibition very much is, you can expect them to be voted out. Moreover, unless the Dems really **** things up and snatch defeat from the jaws of victory (totally possible), the blue wave seems like it may be the beginning of the end for their political fortunes in the near future.

Now that said, whether or not there's a federal regulatory framework, this is going to mean good things for the MJ industry, particularly as compared to the status quo; better to be allowed to deal freely, even if having to abide by a patchwork of differing state standards than to be restricted at the federal level. Besides, odds are they'll focus on the bigger markets/states first anyways, like California, before expanding their way into the smaller ones; adopting the highest common denominator of regulations is also a real possibility if it makes economic sense.

 

[Jetboogieman]

If the Republicans stick with deeply unpopular policies though, which a continuation of federal MJ prohibition very much is, you can expect them to be voted out. Moreover, unless the Dems really **** things up and snatch defeat from the jaws of victory (totally possible), the blue wave seems like it may be the beginning of the end for their political fortunes in the near future.

I dunno man, they are a party that practically promised to take healthcare away from people and won, I wouldn't be so sure.

Now that said, whether or not there's a federal regulatory framework, this is going to mean good things for the MJ industry, particularly as compared to the status quo; better to be allowed to deal freely, even if having to abide by a patchwork of differing state standards than to be restricted at the federal level.

I hope so dude, I hope so.

 

[Surrealistik]

I dunno man, they are a party that practically promised to take healthcare away from people and won, I wouldn't be so sure.

True, but the times are a changing, and the pendulum looks like it's swinging back as it usually does.

I hope so dude, I hope so.

Haha, me too; I've got a lot of money riding on it after all.

 

[Lovebug]

I won’t buy weed from big business.

We grow our own and export the rest. Cool man.

 

[GDViking]

I won’t buy weed from big business.

I plan on opening a garden center.

 

[can2man]

We grow our own and export the rest. Cool man.

Right on, I grow my own as well. Love it.

 

[can2man]

I plan on opening a garden center.

Good for you - where are you located? I looked at it here but found it too regulated for my taste.

 

[GDViking]

The story goes that newspaper tycioon William Randolph Hearst owned a lot of forest in the Pacific NW to help make the paper for his newspapers. Hemp (Cannabis) could be used to make newsprint paper in competition with him. So guess what happened to Cannabis?

Hemp oil was also competing with crude oil for powering combustion engines and DuPont worked very hard to outlaw hemp.

No one that knew anything about health risks or the lack there of spoke before Congress when they quickly outlawed it.

 

[GDViking]

Good for you - where are you located? I looked at it here but found it too regulated for my taste.

Yeah, I'm really not that serious about it, just kinda a dream.

I'm in Wisconsin so we have a ways to go, even though we are the birthplace of WEEDSTOCK...

 

[Lovebug]

https://www.cnn.com/2018/12/03/investing/cronos-altria-takeover-rumor-marijuana/index.html

New York (CNN Business)The company that makes Marlboro cigarettes may be looking for a new vice. Altria could find that the red-hot cannabis industry is a much-needed supplement to its stagnant tobacco business.

Canadian cannabis company Cronos Group surged Monday after Reuters reported Altria may want to buy the company. The stock was up nearly 30% at one point before it was briefly halted for trading midday Monday. Shares were still up 12% when trading resumed.
============================================
When big business starts buying into Cannabis you know which way the wind is blowing. Their bean counters with their spreadsheets know where to put their $$$.

Lets see what those dreaded lobbyists come up with.

 

[Sampson Simpson]

https://www.cnn.com/2018/12/03/investing/cronos-altria-takeover-rumor-marijuana/index.html

New York (CNN Business)The company that makes Marlboro cigarettes may be looking for a new vice. Altria could find that the red-hot cannabis industry is a much-needed supplement to its stagnant tobacco business.

Canadian cannabis company Cronos Group surged Monday after Reuters reported Altria may want to buy the company. The stock was up nearly 30% at one point before it was briefly halted for trading midday Monday. Shares were still up 12% when trading resumed.
============================================
When big business starts buying into Cannabis you know which way the wind is blowing. Their bean counters with their spreadsheets know where to put their $$$.

the plus is they will influence poilticians to legalize it in more states and push the feds to get it off the banned list

 

[Thoreau72]

If the tobacco companies do to pot what they've done to tobacco by way of poisonous additives, this might be a bad thing.

The American Spirit products with pure tobacco are apparently superior to the more common brands. It would certainly seem a bit safer to this non-user.

 

[OlNate]

https://www.cnn.com/2018/12/03/investing/cronos-altria-takeover-rumor-marijuana/index.html

New York (CNN Business)The company that makes Marlboro cigarettes may be looking for a new vice. Altria could find that the red-hot cannabis industry is a much-needed supplement to its stagnant tobacco business.

Canadian cannabis company Cronos Group surged Monday after Reuters reported Altria may want to buy the company. The stock was up nearly 30% at one point before it was briefly halted for trading midday Monday. Shares were still up 12% when trading resumed.
============================================
When big business starts buying into Cannabis you know which way the wind is blowing. Their bean counters with their spreadsheets know where to put their $$$.

Ugh... this was something I'd hoped not to see, but it makes sense. It makes me very nervous to see a company that made it's fortune killing people now getting into the medicine business. Talk about tarnishing a product.