The Return of the Cannabis Sector?

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Midas Letter

The Digital Businesss Channel for Cannabis, Crypto and Technology Stocks.

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.

The sector that has been overlooked from the onset of the COVID-19 pandemic that no one is talking about is… (drumroll please) Cannabis.

We are all in agreement that people are largely staying-at-home more than they have ever done in recent times. The tech stocks are up. The e-commerce stocks are up. The travel and hospitality stocks are down. These trends make sense. But it also makes sense that people are using more marijuana – recreationally and medicinally.

We have stats to back that fact up. Take the state of Florida for example: Sales of smokable cannabis products are up 143% since the beginning of January 2020. [Source: Florida Health Office of Medical Marijuana Use]

Who has been the main beneficiary of this trend? Well, keeping with the Florida theme, it’s Trulieve Cannabis Corp (OTCMKTS:TCNNF). The medical cannabis company just announced another massive quarter – reporting strong consecutive revenue growth with raised guidance.

Trulieve is up 79% YTD. If you feel you may have missed some of the value then there might also be another way to play this move into cannabis. For example, if gold is hot, it may be time to look at the shovels. Meaning we can profit from smaller sub-components which support the main investment thesis.

Watch the full interview to see which small company which has reported 10 straight quarters of growth with revenues up 120% from last year.

P.S. We spoke to the CEO of Trulieve after the company’s stellar quarter 6 months ago. Click here to watch, read or listen to what Ms. Rivers had to say.

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.