The Roaring Twenties

History will remember the Candustrial Revolution

When we last checked in, US cannabis stocks were limping away from what was widely perceived to be a super-disappointing / mellow-harshened 4/20 Holiday.

Chuck Schumer spoke, a lot.

SAFE Banking passed, again.

And stocks? Lemme just tell ya…

During all the rabble rousing, finger-pointing, belly-aching, whats-it-all-about-ism and I-told-you-so’s flying back-and-forth on Twitter… (ok fine, I peeped…)

…the Trading Gods were listening, if not smiling, because they just do…

Any back-of-the-envelope will tell us $MSOS, the NYSE-listed U.S cannabis ETF, ran 125% from its Sept 1st launch to the Feb 10 high—you know, when we started a gang!— before taking an even-third off the top into the 4/20 low. Like poetry in motion…

I offered last week the market woulda found any reason, at a point, to take a third off the top given the year-over-year obscenities that have been U.S cannabis returns and I mean, come on people, talk about the roaring 20’s circa right now and still…

There was this other thing, we flashed it last week but it got loud of late: the whole forced selling thing. We can confirm that a large holder of U.S cannabis was told to liquidate his cannabis holdings and he did, mostly in March, save stems and seeds.

I will add on a personal note that I know this fund manager, I consider him a friend and give him mad props for his vision, rigor and intelligence. The annals of US canna history will remember the brave souls who paved this forthright path…

To the best of our knowledge this 1. was an internal decision predicated on the still-uncertain custody landscape 2. is old news / no longer in play and 3. is just one side of a hella ledger that will continue to evolve. Why? Putnam and TIAA-CREF (you know, the teachers pension fund(!!) filed as new holders of US cannabis—and we’re even told that TIAA positioned it as ESG :-x )

So where does this leave us? With 2021 precisely one-third in the books and US canna having lost precisely one-third, or 33%, of it’s value from the 2/10 peak to the 4/20 low, at least as measured by $MSOS…and don’t blink y’all as we’re just in time for earnings.

Cronos, the Canuck, will kick us off on Friday. I could post a chart showing the stock at a level but I gotta be judicious with the memory on this publishing platform; it’s a game we play each wk, with me pushing Substack limits right into the Danger Zone.

Now Villy isn’t US (allegedly) but they report on Monday, the stock is fitty-off vs Feb and a hella find for those nimble-of-mind; besides, DeGiglio’s one of us. A Long Island boy. A Navy Man. Top F Gun. Revvin' up your engine listen to her howlin' roar

No, but for real, don’t sleep on $VFF as she kisses her 200-day for the first time since November which, for all you speed demons, preceded a 350% three-month run. Best fundies up north, global optionality, NA distribution, and tomatoes to die for.

Oh, I’m sorry, you want Yoooou Assss?

GOOD! Because BoJo & Co report Monday night and that’s U.S (+ some EU!) and that chart looks ready to stretch higher after flagging since Feb. Удачи, Борис

On Wednesday we’ll hear from best-in-breed candidate Green Thumb ($GTBIF) as five million current and retired teachers prepare to grade their quarter.

and on Thursday, Trulieve ($TCNNF) will share the sunshine of their looooooooooove.

Now, I’m not here to tell you what to do, how to invest, or which stock to trade. That’s a mug’s game and I’ll have none of it. But I’m happy to share some honest thoughts, even if they’re somewhat dated, or even boring. Boring ol’ diamond paws, that’s me.

But hey, please do you and understand this is risky business and the broader tape is dancing on the head of a pin. Fiat currencies are barely holding on. Financial markets are a real-time experiment and seriously, we’re the lab rats. And that’s OK, I guess, bc we’re buying hyper-growth at reasonable multiples with an increasing TAM.

While we’re at it, pay attention to history. Because prohibition isn’t the rule; it’s just our lifetime experience. We’re literally dust in the wind, dude.

So please, ask yourself, and this part is serious:

In 50 years, when your kids / grandkids talk about YOU, what will they say?

How will they remember how you navigated the modern great depression and the repeal of the second prohibition?

When people perceived cannabis as a vice, not wellness or medicine.

When they locked people up for this wonderful plant.

Because we’re writing our own history with each passing day.

And the roaring twenties have only just begun.

How will you be remembered?

/positions in stocks mentioned
/advisor $MSOS