News is crossing the wires that MO might bid for CRON. Out of all the pot companies, I’m surprised they’d go for that one. This, coming off news that NBEV would be acquired, makes two pot deals in a day. The best one of them all, in my opinion, is TLRY — so I stepped in and bought some.
The MO for CRON news.
Source: CNBC
Marlboro cigarette maker Altria is in early talks to acquire Canadian cannabis producer Cronos, as it seeks to diversify its business beyond traditional smokers, people familiar with the matter said on Monday.
Cronos has not agreed to any deal and there is no certainty it will do so, the sources said. The discussions between Cronos and Altria are expected to last for several weeks, one of the sources added.
The sources asked not to be identified because the matter is confidential. Altria did not immediately respond to a request for comment, while Cronos declined to comment.
Other than that, markets look like shit. The fade is a worst case scenario and if I was advising friends and family, I’d suggest doing nothing until the direction is clear.
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Intraday H+S topping pattern makes CRON takeover suspect. Seven bidders being reported for very indebted NLSN. I’m inclined to fade these takeover rumors.
Intersting article on Utility stock performance:
https://www.marketwatch.com/story/utility-stocks-have-beaten-the-sp-500-in-two-months-of-turbulence-and-in-the-long-run-2018-11-28
I looked at the 5-yr itratime periods and Utilities have been holding at ~10% in both bear and bull markets.
In other news, NFLX bulls are watching another huge pre-market gain evaporate, just like after their earnings #PriceDiscovery
NTEC is still the play
even short-seller Marc Cohodes has blessed it as his pick for 2018
2019
Check out all those island shooting star candle on the daily. Nutz.
Advice much appreciated.
It will indeed be interesting, to say the least, how these M&As play out over the years if 1) “They” re-schedule MJ and 2) IF Congress (not some lame memo from Treasury) allows MJ money to be move through big banks. Until then, this is just a hobby for the same folks playing crypto.