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CB1 Capital Management CIO on US Cannabis Company Share Structures
CB1 Capital Management CIO Todd Harrison discusses the share structure of US multi-state cannabis operators that have recently listed on Canadian exchanges. Harrison admits there is “lots of hair” on these companies but reveals CB1 Capital is still investing in recently-listed US entities regardless of these issues. GW Pharmaceuticals plc (NASDAQ:GWPH) (OTCMKTS:GWPRF) (FRA:GWZA), makers of the epilepsy medication Epidiolex, is CB1 Capital’s favourite play and illustrates the fund’s preference for long-term investment in US cannabis biotech and life sciences companies. Harrison believes the market is beginning to understand the potential of the consumer side of the cannabis space but notes investors are still lagging behind in terms of recognizing the significance of efficacy-driven medical solutions. Harrison cautions against investing in pure cultivators, as they have the worst margins, and stand to lose the most as each new country and entire continents come online.