Got a New Cannabis Play — Plus Sold A Few Pieces of Art

AMRS is the CBD play of the day. The stock is up sharply on this news.

Amyris, Inc. (Nasdaq:AMRS), a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, today announced that it has signed a binding term sheet for a planned cannabinoid development, licensing and commercialization partnership valued at up to $255 million (not including significant royalties once the products are commercialized) with a confidential partner. The $255 million in payments include an upfront payment and the remainder are linked to milestones that are expected over the next 12-36 months following the signing of a definitive final agreement. Amyris has a successful track record of leveraging its unique technology platform to scale No Compromise™ sustainable products and successfully bring them to commercialization. In addition to lab-based milestone payments, this agreement also provides for significant milestone payments for commercially scaling each product.

I don’t give a shit, either way. I feel, in a sense, invincible, so I bought some.

Earlier in the session, I sold the following.

SONO +11%
FTNT +8.2%
PG +0.8%
JVA +31%

Also, I bought REZI — because three white candles.

My sense, I kind of want to sell more — but I’m also torn between liking the vibe to this tape. I can feel the short’s getting squeezed and I want to help annihilate them. I have several stocks up sharply from my basis and will be selling those first. My goal is to be more than 50% cash by the time the QQQs get to $173.