When it comes to being successful in business or investing, one simple trick is following the example of successful CEOs.
Canopy Growth Corp
These Cannabis Heavyweights Are Battling It Out over the "Marijuana Mecca of the Midwest"
Early last month I wrote about how Illinois is primed to become the "Marijuana Mecca of the Midwest," and it seems that we're not the only ones who know about it.
Now that shareholders have approved the landmark agreement for Acreage Holdings Inc. to be acquired by Canadian giant Canopy Growth Corp., Acreage is on the move.
After the deal closed on Thursday, Acreage CEO Kevin Murphy gave an interview at the Players Technology Summit in San Francisco in which he hinted at a number of "head-turner" acquisitions that the company has in the works.
While he was careful not to spill any specifics, he did make one thing clear.
Illinois, which last month became the first state to approve the sale of adult-use cannabis through legislation, will feature prominently in Acreage's plans. When asked about the coming market, Murphy said: "We have designs on going very deep and very broad in that state."
It will be especially interesting to see whether the company makes any moves to benefit from the potential for districts to opt in on "social consumption lounges" – something we thought might happen in Las Vegas, but it will be much more likely in Illinois.
However, when Acreage tries to enter "The Land of Lincoln," it's going to encounter a buzz saw.
We're tracking a couple companies in our portfolios who are already in the state, and they're going to give Acreage more than a hard time.
Let's take a look at some of the companies Acreage is going up against...
22 Billion Reasons to Buy These 3 CBD Stocks Today
The CBD industry has been booming in 2019. Yet, it’s far from over.
In fact, it’s expected to rocket another 3,623% over the next three years.
And that’s why Money Morning is bringing you the best CBD stocks to buy today…
This Simple Tool Will Show You Exactly When to Buy Cannabis Stocks
When it comes to technical stock trading, it can take a long time before you finally see the “full picture.”
There are often tiny details hiding in the charts. But once you see them, the profit opportunity becomes clear.
Many investors can stare at charts and never see the picture within a picture.
But those with a well-trained eye see something entirely different.
For example take a look at this chart of popular cannabis stocks…
These Charts Reveal the "Perfect Price" for These Big Pot Stocks
Technical analysis is the study of human psychology, which is represented in the form of price action on a chart. You analyze the stock itself.
Technical analysts look for repeatable patterns and indications that can predict future price movements. Since human psychology and emotions will always be a factor in stock markets, the study of historical price movements of a stock relays the fear and greed associated with that stock.
Let's look at two technical tools that I use often – which is to say, every day the markets are open.
The first shows the movement of price in a group of stocks relative to each other. The second is a broadly watched tool that shows us both the long-term trend of a stock and important areas of support and resistance.
The Dow Jones Today Could Be in for a Rocky Ride After U.S. and Iran Narrowly Avoid War
The Dow Jones today will start in the red after President Trump aborted a missile strike against Iran.
Traders will be keeping a close eye on tensions with Iran, plus China continues to play hard ball on trade.
CBD Stocks Just Received Another Multibillion-Dollar Catalyst
Americans are crazy about their pets, spending billions of dollars every year on everything from food to treats and even pet hotels.
Now we can add another category… cannabis. It’s well known what CBD can do for humans, treating everything from pain relief to depression. Is it that much of a leap to think what CBD can do for pets?
Not in the least. And that emerging industry will be a multibillion-dollar catalyst for CBD stocks in the next several years.
Why "Pet CBD" Is a Multibillion-Dollar Investment Gold Mine
Americans love their four-legged friends.
If you're inclined, you can treat your pet to an impressive array of goods and services: spa beauty treatments, gourmet and organic foods and treats, top-flight veterinary care (privately insured, of course), designer pet clothing – the only limit is the depth of your pocket.
As you can imagine, that doting approach to pet ownership is very lucrative for the companies on the supply side.
Americans will spend an estimated $75.3 billion on their pets this year alone. PetSmart Inc. boasts a market cap north of $8 billion. There are not one but two "pet sector" exchange-traded funds available to buy, tracking a deep roster of publicly traded pet companies and service providers.
And now, Fido and Mittens can enjoy a regular regimen of CBD, with all the benefits that entails.
Cannabis companies with the vision and foresight to cash in on this trend are rushing to cater to it.
The "Marijuana Mecca of the Midwest": What Everyone Should Know About Legalization in Illinois
Stocks are caught up in a storm of fear right now, although that may be abating somewhat. But plenty of otherwise great companies with little to nothing to do with the trade wars are getting caught up in the selling.
Pot stocks are a great example. The truth is cannabis companies aren't really exposed to global trade conflicts, but they've been sliding along with most other shares.
Nevertheless, even knowing the facts – that the marijuana firms we're buying are fundamentally sound – I know times like these make it difficult to hang tough and be patient.
After all, as the events of this week prove, things are unfolding in the cannabis market exactly as they should…
… particularly on the legalization front.
The announcement that Illinois – the sixth most populous state in the Union – has taken cannabis fully legal should come as no surprise to us. But it's still a huge development for the cause of legalization – and, for our purposes here, the quality cannabis stocks we own.
Let me tell you what it's all about...
How the Trade War Is Giving Us a Second Chance with This Top Pot Stock
The trade war and the pot stock revolution are working in tandem to create a unique profit
opportunity for our top pot stock. This is an investment that can earn you 50% over the
next six months. But it will likely be just the beginning for a leader in an industry projected
to grow 1,473% in just five years.