iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,705 Blog Posts

Big Tobacco Reportedly in Bid for Big Pot — Here’s My Play

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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7 comments

  1. ferd

    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.

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  2. numbersgame

    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

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  3. juice

    NTEC is still the play

    even short-seller Marc Cohodes has blessed it as his pick for 2018

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  4. roundwego

    Check out all those island shooting star candle on the daily. Nutz.

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  5. irma vep

    Advice much appreciated.

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  6. mad marsupial

    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.

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