International Investing

Cannabis Corner: Dispensary Disruption

While every jurisdiction is different, most are considering non-medicinal cannabis sales non-essential. That changes the sales landscape a lot.

At this point, I would avoid all but the biggest cultivators. Smaller farms will get squeezed here because they lack the scale to compete with the giants and the resources to survive a slow season.

Ultimately, this is a great thing for the leader, Canopy Growth Corp. (NYSE:CGC). And in the here and now, it’s business as usual for Aphria Inc. (NASDAQ:APHA), which focuses on the medicinal market anyway.

If you want to play the cannabis space right now, that’s the way to do it. Avoid the others. The most interesting names will make it into my IPO Edge portfolio, and we’ll reap the rewards of their innovation over time.

Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. The Financial Times describes Ms. Kramer as “A one-woman financial investment powerhouse” and The Economist distinguishes her as “one of the best-known investors in America”. Ms. Kramer is often quoted in publications such as the Wall Street Journal, New York Post, Bloomberg, and Reuters. She is a frequent guest commentator on CNBC, CBS, Fox News and Bloomberg, providing investment insight and economic analysis. Ms. Kramer was an analyst and investment banker at Morgan Stanley and Lehman Brothers. Ms. Kramer founded and ran a long-short hedge fund and has been chief investment officer overseeing debt and equity portfolios. Since 2010, Ms. Kramer’s financial publications have provided stock analysis and investment advice to her subscribers. Her products include GameChangers, Value Authority, High Octane Trader, Triple-Digit Trader, 2-Day Trader, IPO Edge and Inner Circle. Ms. Kramer, a Certified Fraud Examiner, has also testified as an expert in investment suitability, risk management, compliance, executive compensation, and corporate governance. Ms. Kramer received her MBA from the Wharton School at the University of Pennsylvania and her BA with honors from Wellesley College. Ms. Kramer has provided testimony regarding investment policy to the U.S. Senate and is a frequent speaker on the markets, portfolio management and securities fraud and compliance. Ms. Kramer is also the author of “Ahead of the Curve” (Simon & Schuster 2007) and “The Little Book of Big Profits from Small Stocks” (Wiley 2012).