Breaking Cannabis News (New Tickers)
Big news broke last week… A CNBC headline read:
“U.S. Lawmakers Look to Legalize Pot in ‘Historic’ Marijuana Reform Hearing.”
If you’re interested in the BOOMING pot industry… This could be your only chance of turning $100 into a retirement fortune…
In a matter of days… all thanks to President Trump.
Now, onto to more breaking pot news…
Pot Stocks Went Parabolic in Q2
Last October we saw a massive meltdown in the market, pot stocks included.
But by January all things were right with the world and pot stocks once again were ripping higher.
It was a great Q1 for cannabis investors.
But now, after another drawdown through Q2 and into Q3, many pot stocks are back to square one today.
As you can see, our proprietary pot index is back down to levels we haven’t seen since the start of the year:
We’ve covered the reasons why many times through the quarter.
And we’ve also explained how the drawdown, correlated to the greater market, is simply the negative herd mentality that’s shaking scared hands out of the sector.
But Not to Worry There’s Still A Lot to Love About Pot
We have tons of news to report on today, so we’ll jump right in. This morning, Marijuana Business Daily noted:
“The Utah Department of Agriculture and Food, which is overseeing cannabis cultivation under the state’s new medical marijuana law, plans to award up to 10 grow licenses by Monday.”
This could bode well for one of older watchlist stocks. [Click here to read up on that ticker.]
In another story, we learned New Jersey will soon issue up to 24 new marijuana permits in the near future. The permits will be distributed evenly by region.
We’ll follow this news closely to see if this catalyst affects any of the current stocks we’re keeping tabs on. Updates coming soon.
Lastly, some big news out of the Sunshine State, Florida.
Publicly traded Jushi Holdings (OTC: JSHHF) has closed a $63 million deal to acquire Pennsylvania-based Franklin Biosciences. Marijuana Business Daily reports:
“The purchase agreements include an adult-use dispensary in San Diego, The Healing Center, as well as a Virginia-based processing company, Dalitso.”
This deal again reaffirms something I’ve shared with my followers many times this year…
The Best Pot Trend to Bank On Is…
M&As are proving to be one of the most lucrative trends in town right now.
And in tough market conditions like we’re seeing right now, I love the moneymaking potential a strong acquisition target can have.
Not all merger and acquisition deals pay off for investors. But there are plenty of examples of big paydays folks have had by getting in on the right acquisition target ahead of a merger.
But before we wrap for today… You also must know…
When It Comes to Pot Stocks Fundamentals Matter
Another thing I look for when markets are searching for direction are stocks with strong fundamentals.
I even hate to utter the word, but in the case of a trade war, biotechs, smaller domestic stocks and pot stocks offer you extra insulation from the geopolitical problems multinational corporations face.
For example, why is Microsoft doing so well this year despite being a multinational exposed to all the various pitfalls of trade wars?
They have strong leadership, strong cash flow and a diversified product lineup among other positives: Strong fundamentals in a nutshell.
These things matter (M&A trends and fundamentals) more than ever today when it comes to cannabis investing for profit.
Don’t lose yourself in the white noise, the long-term trend still looks great for pot stocks.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily