[h=1]Canada’s marijuana millionaires surprised by stock surge[/h]
Since 2015, publicly listed medical pot firms were trading for pennies; now they’re trading for than $10 a share, even though some publicly traded companies won’t make a sale until recreational cannabis becomes legal later this year.
Terry Booth didn’t expect his life would come full circle, thanks to marijuana.
He sold pot in high school, peddling quarter ounces for $25 to help out his dad. He spent the next two decades working as an electrician and entrepreneur, and planned to semi-retire to the golf course after taking a step back from his construction permit firm. That idea went to pot, literally, when his business partner Steve Dobler said his brother-in-law was looking for investors on a marijuana play.
“Steve’s a pretty conservative guy; I thought he was kidding,” said Booth, 53, sitting in a hotel conference room in Edmonton, not far from where Aurora Cannabis Inc. is building a greenhouse the size of almost 14 football fields. “But he wasn’t.”
Booth and Dobler are the largest individual holders of Aurora, Canada’s second-largest marijuana firm. Their combined stakes are now approaching $200 million, making them among the wealthiest shareholders in Canada’s growing crop of newly-minted marijuana millionaires.
[FONT="]As Canada moves to legalize recreational cannabis, the value of the nascent market has ballooned to more than $25 billion, swelling the ranks of affluent pot investors who have significant holdings in companies such as Canopy Growth Corp. and Aphria Inc. The U.S. legal market is expected to reach $75 billion (U.S.) in sales by 2030, almost as large as North America’s soft drink market, according to research firm Cowen & Co. Canadian sales could soon be worth between $7 billion and $12 billion a year, Beacon Securities estimates.
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[FONT="]Even after a recent sell-off, many marijuana-related stocks have more than doubled in the last year. Never mind that recreational marijuana won’t be legal until later this year and some publicly traded companies have yet to make a sale.
“Insiders have created a huge amount of wealth for themselves and even early investors,” PI Financial analyst Jason Zandberg said in a telephone interview. “It reminds me of back in the dot-com days. You always heard of a friend of a friend who got in early and got their company bought out.”
Companies initially began piling into the sector in 2013 after Canada changed the rules governing medical use to allow access through licensed producers. Still, before Prime Minister Justin Trudeau wooed voters in the 2015 election with a promise to legalize recreational marijuana, publicly listed medical pot firms were trading for pennies. In mid-2015, Aphria traded for less than $1 (Canadian), while PharmaCan, which later renamed itself Cronos Group Inc. and listed on the Nasdaq Stock Market, hovered around 30 cents.
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The industry took off in 2016 as more investors rushed to bet on the country’s move toward legalization, with the BI Canada Cannabis Index more than quadrupling in value since then. Aphria now trades for almost $10, and touched a record high of nearly $25 a share in January. Cronos trades at more than $7.
For John Cervini, the co-founder of Leamington, Ont.-based Aphria, the magnitude of the market surge came as a surprise. Cervini had already left his family’s greenhouse business that sold tomatoes and peppers when he and friend Cole Cacciavillani started looking into marijuana as a possible crop. Neither had any experience with cannabis and initially thought one smoked the leaves of the plant (in reality, it’s the bud).
Aphria was one of the first publicly traded marijuana growers listed in 2014, and its value has surged more than 1,000 per cent. It’s now worth $2.1 billion and Cervini’s stake exceeds $96 million.
“I think we had an idea that in Canada it had some good potential but I think the real surprise has been the change in tide around the globe,” Cervini, 47, said in a telephone interview. “We did not expect to have a multibillion dollar company.”
It’s a similar story sector wide. Bruce Linton, the CEO of Canopy Growth, the country’s first marijuana unicorn with a market value topping $1 billion, has a stake worth nearly $73 million. MedReleaf Corp.’s largest shareholder, Zola Finance, controlled by Tarik Ouass, owns shares worth $227 million. Linton grew up on a hobby farm in Ontario and previously worked in the telecommunication sector.
Some early investors are already taking money off the table given the soaring valuations, with some stocks trading at more than 100 times sales.
Dobler, president of Aurora, sold 900,000 shares last month worth about $10.3 million, according to regulatory filings compiled by Bloomberg. Booth, the CEO, sold 464,183 shares in the same period, data show. They still own more than 24 million shares between them.
While the burgeoning new industry has spurred massive gains for some marijuana insiders, newcomers will face more competition. At least 89 enterprises have been given the go-ahead to grow pot since Feb. 1, and another 244 applications are under review, according to Health Canada. There’s also been a shift to more institutional investment as the sector moves toward legalization. Corona beer seller Constellation Brands Inc. is now the biggest holder of Canopy Growth, and the largest shareholder of Cronos Group is Chesapeake Partners Management, a Baltimore-based fund.
“You’ve got to set your expectations to not assume they’ll do as well as the Aphrias and the Canopy Growths and the MedReleafs in the past,” Zandberg said.
Since 2015, publicly listed medical pot firms were trading for pennies; now they’re trading for than $10 a share, even though some publicly traded companies won’t make a sale until recreational cannabis becomes legal later this year.
Terry Booth didn’t expect his life would come full circle, thanks to marijuana.
He sold pot in high school, peddling quarter ounces for $25 to help out his dad. He spent the next two decades working as an electrician and entrepreneur, and planned to semi-retire to the golf course after taking a step back from his construction permit firm. That idea went to pot, literally, when his business partner Steve Dobler said his brother-in-law was looking for investors on a marijuana play.
“Steve’s a pretty conservative guy; I thought he was kidding,” said Booth, 53, sitting in a hotel conference room in Edmonton, not far from where Aurora Cannabis Inc. is building a greenhouse the size of almost 14 football fields. “But he wasn’t.”
Booth and Dobler are the largest individual holders of Aurora, Canada’s second-largest marijuana firm. Their combined stakes are now approaching $200 million, making them among the wealthiest shareholders in Canada’s growing crop of newly-minted marijuana millionaires.
[FONT="]As Canada moves to legalize recreational cannabis, the value of the nascent market has ballooned to more than $25 billion, swelling the ranks of affluent pot investors who have significant holdings in companies such as Canopy Growth Corp. and Aphria Inc. The U.S. legal market is expected to reach $75 billion (U.S.) in sales by 2030, almost as large as North America’s soft drink market, according to research firm Cowen & Co. Canadian sales could soon be worth between $7 billion and $12 billion a year, Beacon Securities estimates.
[/FONT]
[FONT="]Even after a recent sell-off, many marijuana-related stocks have more than doubled in the last year. Never mind that recreational marijuana won’t be legal until later this year and some publicly traded companies have yet to make a sale.
“Insiders have created a huge amount of wealth for themselves and even early investors,” PI Financial analyst Jason Zandberg said in a telephone interview. “It reminds me of back in the dot-com days. You always heard of a friend of a friend who got in early and got their company bought out.”
Companies initially began piling into the sector in 2013 after Canada changed the rules governing medical use to allow access through licensed producers. Still, before Prime Minister Justin Trudeau wooed voters in the 2015 election with a promise to legalize recreational marijuana, publicly listed medical pot firms were trading for pennies. In mid-2015, Aphria traded for less than $1 (Canadian), while PharmaCan, which later renamed itself Cronos Group Inc. and listed on the Nasdaq Stock Market, hovered around 30 cents.
[/FONT]
The industry took off in 2016 as more investors rushed to bet on the country’s move toward legalization, with the BI Canada Cannabis Index more than quadrupling in value since then. Aphria now trades for almost $10, and touched a record high of nearly $25 a share in January. Cronos trades at more than $7.
For John Cervini, the co-founder of Leamington, Ont.-based Aphria, the magnitude of the market surge came as a surprise. Cervini had already left his family’s greenhouse business that sold tomatoes and peppers when he and friend Cole Cacciavillani started looking into marijuana as a possible crop. Neither had any experience with cannabis and initially thought one smoked the leaves of the plant (in reality, it’s the bud).
Aphria was one of the first publicly traded marijuana growers listed in 2014, and its value has surged more than 1,000 per cent. It’s now worth $2.1 billion and Cervini’s stake exceeds $96 million.
“I think we had an idea that in Canada it had some good potential but I think the real surprise has been the change in tide around the globe,” Cervini, 47, said in a telephone interview. “We did not expect to have a multibillion dollar company.”
It’s a similar story sector wide. Bruce Linton, the CEO of Canopy Growth, the country’s first marijuana unicorn with a market value topping $1 billion, has a stake worth nearly $73 million. MedReleaf Corp.’s largest shareholder, Zola Finance, controlled by Tarik Ouass, owns shares worth $227 million. Linton grew up on a hobby farm in Ontario and previously worked in the telecommunication sector.
Some early investors are already taking money off the table given the soaring valuations, with some stocks trading at more than 100 times sales.
Dobler, president of Aurora, sold 900,000 shares last month worth about $10.3 million, according to regulatory filings compiled by Bloomberg. Booth, the CEO, sold 464,183 shares in the same period, data show. They still own more than 24 million shares between them.
While the burgeoning new industry has spurred massive gains for some marijuana insiders, newcomers will face more competition. At least 89 enterprises have been given the go-ahead to grow pot since Feb. 1, and another 244 applications are under review, according to Health Canada. There’s also been a shift to more institutional investment as the sector moves toward legalization. Corona beer seller Constellation Brands Inc. is now the biggest holder of Canopy Growth, and the largest shareholder of Cronos Group is Chesapeake Partners Management, a Baltimore-based fund.
“You’ve got to set your expectations to not assume they’ll do as well as the Aphrias and the Canopy Growths and the MedReleafs in the past,” Zandberg said.
Pro Poker Player Charged in Fatal I-95 Crash in Oakland Park Ate Marijuana Edible: FHP Report
Bradley Ruben, 32, has been charged with failure to remain at the scene of a crash involving death
Published at 1:50 PM EDT on May 17, 2018 | Updated at 6:25 PM EDT on May 17, 2018
<figure style="margin: 0px; color: rgb(0, 0, 0); font-family: Roboto, sans-serif; font-size: medium;">
Man Accused of Leaving Scene of Fatal I-95 Crash
<figcaption style="margin: 0px;">Bradley Ruben, 32, has been charged with failure to remain at the scene of a crash involving death and resisting an officer without violence in the Wednesday morning crash along I-95 northbound near Oakland Park Boulevard. (Published Thursday, May 17, 2018)
</figcaption>
</figure>WHAT TO KNOW
A professional poker player charged in a fatal crash on Interstate 95 in Broward County told investigators he had eaten a marijuana-laced edible before the crash, according to a Florida Highway Patrol report.
Bradley Ruben, 32, has been charged with failure to remain at the scene of a crash involving death and resisting an officer without violence in the Wednesday morning crash along I-95 northbound near Oakland Park Boulevard.
Ruben appeared in bond court Thursday where prosecutors said he is a realtor and professional poker player, with career winnings of about $360,000. He was ordered held on $100,000 bond, which his defense attorney called "incredibly excessive."
According to FHP officials, a woman, Aleshandra Favre, had been involved in an earlier accident in the area and had called a tow truck and her husband, Juan Pedro Garcia, to the scene.
Bradley Ruben Appears in Bond Court
Bradley Ruben appears in bond court.
(Published Thursday, May 17, 2018)
As Favre's car was being loaded by the tow truck, a Volkswagen GTI driven by Ruben crashed into the back of Favre's car and Garcia, the FHP report said. Garcia was rushed to North Broward Hospital, where he later died.
According to the report, the tow truck driver said Ruben stayed at the scene for a few moments before he ran away. When a Broward Sheriff's Office deputy found him about a quarter mile south of the scene, Ruben became irate and combative and was placed in handcuffs after a brief struggle, the report said.
After he was taken into custody, Ruben admitted to investigators that he had consumed a marijuana-laced edible before the crash and said the edible "affected him," the report said. Ruben wasn't charged with DUI but had blood drawn after the crash, the report said.
In arguing for a lower bond in court Thursday, Ruben's attorney said it was "not a typical fleeing case," and argued that Ruben had only gone about a quarter of a mile and was sitting on a railing when authorities arrived.
Bradley Ruben, 32, has been charged with failure to remain at the scene of a crash involving death
Published at 1:50 PM EDT on May 17, 2018 | Updated at 6:25 PM EDT on May 17, 2018
Man Accused of Leaving Scene of Fatal I-95 Crash
<figcaption style="margin: 0px;">Bradley Ruben, 32, has been charged with failure to remain at the scene of a crash involving death and resisting an officer without violence in the Wednesday morning crash along I-95 northbound near Oakland Park Boulevard. (Published Thursday, May 17, 2018)
</figcaption>
</figure>WHAT TO KNOW
- Bradley Ruben, 32, has been charged with failure to remain at the scene of a crash involving death
- After he was taken into custody, Ruben admitted to investigators that he consumed a marijuana-laced edible before the crash, a report said
A professional poker player charged in a fatal crash on Interstate 95 in Broward County told investigators he had eaten a marijuana-laced edible before the crash, according to a Florida Highway Patrol report.
Bradley Ruben, 32, has been charged with failure to remain at the scene of a crash involving death and resisting an officer without violence in the Wednesday morning crash along I-95 northbound near Oakland Park Boulevard.
Ruben appeared in bond court Thursday where prosecutors said he is a realtor and professional poker player, with career winnings of about $360,000. He was ordered held on $100,000 bond, which his defense attorney called "incredibly excessive."
According to FHP officials, a woman, Aleshandra Favre, had been involved in an earlier accident in the area and had called a tow truck and her husband, Juan Pedro Garcia, to the scene.
Bradley Ruben Appears in Bond Court
Bradley Ruben appears in bond court.
(Published Thursday, May 17, 2018)
As Favre's car was being loaded by the tow truck, a Volkswagen GTI driven by Ruben crashed into the back of Favre's car and Garcia, the FHP report said. Garcia was rushed to North Broward Hospital, where he later died.
According to the report, the tow truck driver said Ruben stayed at the scene for a few moments before he ran away. When a Broward Sheriff's Office deputy found him about a quarter mile south of the scene, Ruben became irate and combative and was placed in handcuffs after a brief struggle, the report said.
After he was taken into custody, Ruben admitted to investigators that he had consumed a marijuana-laced edible before the crash and said the edible "affected him," the report said. Ruben wasn't charged with DUI but had blood drawn after the crash, the report said.
In arguing for a lower bond in court Thursday, Ruben's attorney said it was "not a typical fleeing case," and argued that Ruben had only gone about a quarter of a mile and was sitting on a railing when authorities arrived.
I don’t think the average pot smoker thinks that but obviously the ones trying to get it legalized are pushing that aspect. It’s not like pot is going to cure some disease. I’ve smoked pot for over 40 years(minus about 5 years when I moved here because our plant did random testing) but didnt start til I was 20. I agree that teens should not be using it. My family was full of alcoholics and potheads and believe me, alcohol is 10x worse. But like many things, it really depends on the person.
Legalization of sports betting through out america opened the door to having weed being legal in all 50 states by 2023-2025 IMO......
When the majority of Americans want it, they've been getting it past several years.
When the majority of Americans want it, they've been getting it past several years.
Well, Donny won the presidential election and he's a president for a long time now. And all of my friends who smoke weed didn't have any problems with the law. The dems pissed in their own pants one more time. What a surprise, LOL. On the other hand, I had concerns about him, TBH. My worst fear was about the cops locking up my dad because he uses CBD gummies. The old man has a lot of health problems and he takes those as a medication. I buy him high quality European CBD gummies for this reason. So I would be locked up to. But, as I said earlier, the dems just pissed in their own pants as usually.
Because I’m well educated and I’m well read on this virus.
http://www.therxforum.com/showthread.php?t=1156885&highlight=
http://www.therxforum.com/showthread.php?t=1158368&highlight=
Does that look and sound like something that is caused by regular death? What else could be killing all these people so quickly?
To say the hospital makes money is just retarded talk. You are focusing on the wrong shit. There are a lot of narratives out there. Just because you can google it and all of the Qanon conspiracy theorists are in full force right now doesn’t mean you should hang your hat on it. It isn’t one to hang onto. Hospitals make revenue no matter the sickness. This is a pandemic for a reason.
Are you some kind of a trumptard or something? Trump supporters sucks too. They all suck. Including Bernie Sanders. Because he's a freaking' commie. As for CBD gummies you mentioned - well, this really is a nice stuff. You're not good at politics, but it seems like you know how to buy proper goods. Not so long ago I started to buy the high quality European CBD gummies for my uncle. He's an old man and he's very conservative. So I didn't even tell him that it's CBD, or else he won't take it. He says that after I gave him these "medical gummies" he started to sleep better and the pain is almost gone. Yet again - if I'm right and you are Trump supporter, you need to rethink your political views. Because no one of these assholes can be trusted.
