I have avoided the weed stocks as a group because I do not smoke and have no real interest in studying the industry to get an edge. I do not use CBD’s either though I have tried them in various forms. I am a limited partner in a marijuana hedge fund and a private company here in Phoenix.
I last wrote about the sector back in October as it was going ‘up in smoke’ (in this case down). The post was titled ‘weed kills…portfolios‘. The stocks in the sector continued to plunge another 50 percent in one nasty bear market, but now seem to be trying to bottom with the rest of the market as I write.
Maybe the bear market is over and the survivors will thrive?
My friend Paul Rosen has been an entrepreneur in the marijuana industry for more than a decade and was an early acquisition by Cronos Group one of the first billion dollar public companies in the space. Today, the stock has a $2.25. billion market cap:
I was excited to have Paul on the podcast because he has incredible domain experience, great stories and knows everyone in the industry. Paul is also an LP in our fund Social Leverage.
I hope you enjoy this wide ranging conversation that includes some of the history of the sector from a legal perspective and the ups and downs that have ensued. You can listen to the episode here.
Have a great Tuesday.