With cannabis stocks beating the stock market by a whopping 221% this year, the industry is riding a high. The United States Marijuana Index has gained over 160% in the last 12 months. With legal cannabis spending expected to rise to $32B in 2022, and Canada set to legalize cannabis usage tomorrow, it seems like a good time to invest in the world’s most popular recreational drug.
Here, we look at the top 5 marijuana stocks and their performance this month.
Marijuana stocks rallied yesterday after Canopy Growth [CGC] announced its acquisition of hemp company Evergreen. This acquisition will most likely help Canopy to expand into consumer products.
Shares of Canopy Growth surged 14% yesterday to close at $56.89.
Market Cap: 13.09B
Gain in Oct.: 17%
Total Gain in $ for 2018: $7.6B
Tilray [TLRY] was listed on NASDAQ in July this year and has been volatile since its IPO. The stock rose 11.7% yesterday to close at $165.64. Tilray was the first cannabis company to be listed on a major US exchange.
While Tilray has not ventured into recreational sales, it is a major player in the medical cannabis space. Tilray’s subsidiary (High Park Holdings) announced three new brands for the Canadian markets.
Market Cap: 15.4B
Gain in Oct.: 15%
Total Gain in $ for 2018: $13.3B
Shares of Cronos Group [CRON] climbed over 19% yesterday to close trading at $11.74. The company announced a partnership with a tech institute in Israel where researchers will look at the potential advantages of using cannabinoids products for skin and health related diseases.
Market Cap: 2.1B
Gain in Oct.: 5.6%
Total Gain in $ for 2018: $720M
MariMed [MRMD] has been one of the most attractive penny stocks. MariMed is traded over the counter and has risen from $0.37 to $4.86 in the last one year. MariMed reported revenue of $5M in the first half of 2018 and managed to generate impressive operating profits of $1.1M.
Market Cap: 948.81M
Gain in Oct.: 30%
Total Gain in $ for 2018: 814M
The stock rose a significant 11% yesterday to close trading at $11.68.
Market Cap: 11.2B
Gain in Oct.: 22%
Total Gain in $ for 2018: 3.9B
CHART: How Blockchain Powers Bitcoin
Blockchain, Bitcoin. Bitcoin, blockchain.
The two terms go hand in hand—and have become almost ubiquitous with this year’s insane rise (and fall) of Bitcoin.
But what does it all really mean? How does it come together? In this week’s chart, our friends at CB Insights break down exactly how blockchain powers Bitcoin.
This Mogul Became America’s 1st Black Billion-Dollar Businesswoman
Where to start?
She’s the first black billion-dollar businesswoman. Before Oprah Winfrey.
She started as a TV executive, founding Black Entertainment Television (BET), the first TV network targeting African Americans. She then became a real estate mogul.
Oh, she also owns a stake in three major sports franchises, the NBA Wizards, NHL Capitals and the WNBA Mystics, the African American, period, to boast that claim.
In honor of Black History Month, let’s dive into her remarkable career.
- Born Sheila Crump in McKeesport, Pennsylvania, Johnson co-founded BET in 1979 with then-husband Robert Johnson. The couple sold it to Viacom in 2000 for $2.9B
- Sheila Crump Johnson became the first African American woman on the Forbes’ Billionaire list in 2000—beating Oprah Winfrey to the distinction.
- Per Forbes, Johnson has an $820M net worth as of 2019
Foray into real estate…
After closing the sale to Viacom, Robert and Sheila pocketed around $1.5B each. Johnson used that windfall as seed money to build a hospitality real estate empire in 2005.
“There’s a disparity in paychecks between whites and blacks,” she told the Wall Street Journal. “I will never forget that.”
As CEO of Salamander Hotels and Resorts, Sheila controls a spectacular portfolio of six luxury hotels in Florida, Virginia and South Carolina. And she’s built it from the ground up—literally—in her own spirit.
“I’ve been to many hotels, not only in the US, but all over the world,” she told Forbes last year. “And I wanted to find something that was going to really make Salamander stand out beyond all of these hotels.”
So what does that mean?
“You have to understand, there are a lot of people, investment companies, with very deep pockets,” she says. “They can do it, but they don’t have the experiences that we’re able to bring. I am constantly trying to find a way to help Salamander Resort & Spa stand out head over heels above any other hotel — not only in the area, but in the nation.
“I want them to leave that resort wanting to come back and not just say, ‘I’ll be back in six months.’ I want them to come back all the time.”
And so far it’s worked. In fact, on Forbes Travel Guide’s 61st list of Star-Rated hotels, Johnson’s Salamander Resort & Spa outside of Washington, DC earned a Five-Star distinction.
Forbes: “Everything [she] touches turns to gold.”
That’s a real quote. From Forbes. Last year. It’s also true.
BET? Billion-dollar exit. Washington Capitals? Stanley Cup.
And Roma. Won 10 Oscars. Who showed it before a single soul started caring? Johnson’s Middleburg Film Festival. (Which, by the way, has 32 films and counting in Academy Award contention.)
Remember her golf resort at Innisbrook? Oh, yeah. Hosts the Valspar Championship, one of the PGA calendar’s most-anticipated tournaments.
Becoming a billionaire comes with a new level of clout as well. “When you don’t have money, you’re not invited to special events; you really don’t matter,” she told WSJ. “It’s a society thing.”
So instead, she’s turned to giving back. Her Sheila Johnson Fellowship’s paid for more then 40 scholarships at Harvard University for students who otherwise wouldn’t afford to attend.
Breaking glass ceilings.
There’s an alarming statistic in business and diversity—especially as it pertains to women. According to research by investor Richard Kerby, 18% of all VCs are women—and only 3% are black. In addition, less than 50 black women ever have raised $1M in funding.
“When I got started,” Johnson says, “I couldn’t get a loan. I had to use my own money to get Salamander Resort and Spa.”
She explained to WSJ last year that men can go to any bank with a bank proposal. And no matter how “wacky” the idea is, she said, “they’re going to get the financing. Women do not have that ability.”
Johnson’s taken it upon herself to do something about that, becoming one of the founding partners of WE Capital, an investment firm that invests in female entrepreneurs.
“I started out in a very unique position where I had my own capital to be able to get started,” she says. “But there have got to be banks and investors that believe in helping women who want to be entrepreneurs in the hospitality business.
“And it’s just really, really important that they really take a look at this.”
VIDEO: How Far Does $150K A Year Get You In New York City?
No matter what metric or list you look at, it goes without saying: New York City is one of the most expensive places in the world to live in.
In this video, CNBC spoke to a Millennial who runs her own brand consulting agency and wants to #WealthHACK her way to retirement by 40.
She makes $150K a year. But how far does that actually get her? Check it out.