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Midas Letter RAW 114: XORTX Therapeutics and Macroeconomic Analysis with Benjamin Smith

1,747 views · Published 30 November 2018 · 1:32:45 · Indexed 26 September 2026

Channel: Midas Letter · 2018 · News & Politics

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Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business.

0:00 - Macroeconomics and Cannabis News and Analysis with James, Ed & Ben
-Ben: at least 7 macrocatalysts and everything down; hard to be bullish on the sector right now
-macrocatalysts: South Korea medical legalization (big market, first market in Asia)

6:41 - News
-MedMen released Q1 2019 revenues $21.5M USD; rep. 1094% revenue growth YOY
-MPX Bioceuticals reported quarterly revenue of $14.7M CAD
-Acreage Holdings (CNSX:ACRG.U) YOY of $10.6M up 92%; net loss for quarter was $4M
-VIVO Cannabis Q3 revenue of $2.3M; increase of medical patients by 16,000
-Plus (CNSX:PLUS) Q3 revenue of $2.56M
-FSD Pharma showed no debt
 
10:13 - Macroeconomics and Cannabis News and Analysis with James, Ed & Ben
-macrocatalysts: trend continues where cannabis companies reporting revenues that don't justify valuations; 
-Acreage Holdings chart: market cap 42B; stock at $21.49;  
-NJ moved forward on rec cannabis; Michigan rec on Dec. 6; Luxemberg first EU country to legalize rec (investment centre) 
-But MJ and HMMJ both down on the week etc
-heavier tax loss season than normal?
-ML Indexes: some green in small cap; the rest have a bit of red
-Sproutly brought in 2 beverage executives; moved stock 71% off Nov. low
-Wayland in advance of UK move, moved stock 25%
Wayland chart: strength toward the end of this week; first Canadian LP with position in UK market
-UK rec market study est. at $2.5B
-other catalysts on the Constellation scale: federal de-prohibition in US, federal recognition of cannabis as a medicine; federal approval of rec (USA); European Union approval for rec; WHO endorsing cannabis as a wellness product;
-first time weed stock investors have to deal with broad market recession (liquidity crunch of credit leaving the market)

28:08 - XORTX Therapeutics Inc (CVE:XRX) (OTCMKTS:XRTXF) (FRA:ANU1) has a transformational approach to treating kidney disease and diabetes. President and CEO Dr. Allen Davidoff explains what’s so vital about the company’s approach.

41:30 - Macroeconomics and Cannabis Analysis with James, Ed, & Ben
-Ontario Securities Commission document: "Clearing the Air About Cannabis Investing" (cautionary document)
-What is the message? The language is cautionary but graphics and statistics don't back up the cautionary tone
-super voting structure is a sign we're in a bubble
-BridgeMark Group (cannabis, crypto, mining companies) situation: check swapping
-this type of behaviour is typically of a more mature bull market
-check swap: risk to retail shareholder
-pharmacy lobbying for medical cannabis sales: what's the impact on sales/industry? A: create more demand, more distribution, trust pharmacists etc
-want to be position before January; don't want to be buying with everyone else in January
-Q: Why did Australis go on a run in the last half hour? A: shorts covering end of week; end of month; several others went on small runs
-look at AUSA chart: no fundamental reason; nothing that says beginning of new trend
-Q: What about smaller LPs? Any chance? A: small companies coming to market right now have more reasonable valuations; absolutely opportunities
-look at market movers on TSX; TSXV Sokoman Iron Corp up 30% on 5M shares
-Sokoman: in a market that doesn't care about long term value
-Goldman Sachs gold collusion

1:14:53 - Video - Scales of Justice: driving high and the problem with cannabis impairment testing technology.

1:18:53 - Macroeconomics and Cannabis Analysis with James, Ed, & Ben
-Question of the day: What would you do if you had $100,000? Ed: wait for a trading opportunity; Ben: invest in select cannabis companies; James: I'd put the money in one of my client's stocks

Next week: Nutritional High, Sugarbud, Charting Man Dan, James in Miami (Liberty Health tour)

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