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CB1 Capital Management CIO on Pharmacy Chains Entering Cannabis Space
CB1 Capital Management Founding Partner and CIO Todd Harrison is not surprised by recent backfilling in the market given the tremendous first quarter many cannabis stocks experienced. He notes that many of CB1 Capital’s MSO holdings had great quarters and current market conditions are creating good entry points for many names. Harrison discusses the “non-euphoric” uses of cannabis and believes there is still considerable adoption and upward movement to come as industrial, medical, and consumer use cases are publicized. He explains the importance of institutional adoption, especially in the retail pharmacy sector, where giants CVS Health Corp (NYSE:CVS) (FRA: CVS) and Walgreens Boots Alliance Inc (NASDAQ:WBA) (FRA:W8A) have recently entered the CBD space. Harrison provides his take on Canaccord Genuity Group Inc (TSE:CF) (OTCMKTS:CCORF) (FRA:C6U) downgrading Cronos Group Inc (TSE:CRON) (NASDAQ:CRON) (FRA:7CI) from a hold to a sell.