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Midas Letter RAW 85: Macroeconomic analysis and US Cannabis comparison

1,962 views · Published 22 October 2018 · 1:05:38 · Indexed 21 October 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. Ed Milewski and Steve Misener, CFA 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 Analysis with Ed & Steve
-Red day: cannabis stocks down across the board anywhere from 10-15%
-Canopy Growth (TSE:WEED), Cronos (TSE:CRON), Tilray (NASDAQ:TLRY), Aurora (TSE:ACB)
-legalization brings greater scrutiny from investors; starting to build and assemble income statements; op line expected to show steady trajectory of growth; sales proof of concept that someone wants what we make

10:44 – 4 East Media with Liz West: Short feature on Derek Peterson’s “Dear Mr. President” Wall Street Journal ad and the struggles facing American cannabis companies.

13:52 – Macroeconomics and Cannabis Analysis with Ed & Steve
-gold an oil down as well
-uptick in rates in US; overtime have a positive spread because banks can lend out more money at higher rates and don't have to pay out right away; corporate stock buy-back because of low interest rates

25:17 - Terra Tech Corp (OTCMKTS:TRTC) President and CEO Derek Peterson recently placed a full page ad in the Wall Street Journal urging President Trump and federal legislators to legalize cannabis. Peterson shares his thoughts on the disadvantages American cannabis companies face without support at the federal level.

39:01 - Macroeconomics and Cannabis Analysis with Ed & Steve
-comparison between US cannabis situation and emergence of provincial/state lotteries
-Summary of provincial sales from opening day; very pronounced; were the sales restricted by lineups and shortages?

47:27 - Live visit with James in Los Angeles
-update on market selloff; recovery bounce
-volatility rest of week; US markets focused on midterms
-Negative article in the Globe & Mail

55:45 - Macroeconomics and Cannabis Analysis with Ed & Steve
-potential Canada Post strike; strategic timing with delivery of rec. cannabis
-every province had significant sales on first day
-ML Large cap index down 12%; all indexes are down 10-12 percent
-cannabis pardons; will they be recognized in other countries?

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