Aphria Short Attack, Cronos Group Deal with Altria, Hemp Farm Bill Legalization – December 9, 2018 – RICH TV LIVE – DEPARTURES CAPITAL – – TODAY WE BREAK DOWN ALL THE BIGGEST NEWS OF THE CANNABIS SECTOR
What’s going on everybody aaron here from departures capital and we’re here with rich tv live today how are you today rich i’m doing great how are you doing today i’m doing great and i’m excited to talk about three awesome topics we’re gonna be talking about a free of cronos and then the farm bill so first we were you talking about a free ax and obviously we know
That it was a really volatile week for free ax and we did close we did end the week in the green so i just wanted to get your opinion on the whole thing now that you know it’s been a couple days the stocks been down a lot stocks up huge bounce so where do you think we’re headed from here well i think that áfreeá was under attack all week because i talked about
It i think the effort is gonna be fine which i told everybody i think this is only six percent of their business if they have to pay a fine they’ll pay a fine if there are people that need to resign or lose their positions they will they’ve already hired a forensic team that’s going to go in and determine what’s really going on with it within this transaction
They’ve had fairness opinions by large legal firms that they are standing behind so i think they’re going to address this and they’ll get past it they’re gonna go line by line and address these attacks by the short sellers we remember our profiting from these short trades so i think this is just a game i think a free we’ll get through it like i said previously it
Was obviously a tough week they went down then they came back up like 50 percent on thursday i believe they were down 8% or 6% on friday so i don’t believe they’re out of the water yet i think there is going to still be more volatility i’m not personally going to buy it i’m missing my lines but i believe soon and we’ll hit a bottom and it will rebound aggressively
Yeah i mean we could see by that knee that the massive bounce that they had 50 almost 50 below it was a 51% bounce on the american side do you think that that was a lot of short covering and that was why it was such a big bounce or what do you think about that i don’t know i thought about that and i was like where the shorts covering on thursday media maybe it was
People just institutions and some large whales thinking this is the time to buy a lot of people involved in this company you know i don’t yeah her sure he’s going to disappear so i don’t know i really don’t know i think that there’s gonna be more short and coming so i’m kind of torn between whether it’s shorts covering or people are finding the floor maybe it was
A dead cat balance i don’t believe that the shorts are finished shorting this i feel like there’s gonna be more of an attack if you look at khronos group cvs i namaste the companies that have been attacked by short sellers you know it has been a continuous attack that took months but if you look at what happened with khronos group they shorted it down from like
$12 in canada all the way down to four mm-hmm now they’re all the way back to what they went as high as $18 on friday before the shorter’s kind of maybe took it down a little bit or maybe some of the people took the profits idea at $17 in canada now mm-hmm so if you got an f for that was the buying opportunity a frías presented a few buying opportunities here and
It’s one of those companies that i believe was too big to fail yeah for sure if you look at the long-term charts i mean where it did bounce off of five bucks you know that was back to like 2016 lowe is right so that’s that not could be another reason to but um anyways aside from a free oh we’ve got chronos where we had a huge investment by altria one twenty billion
Dollars and it’s empty stocks soaring and we did see the chronos perform well the entire week so it was just people knew that it was well i’m sure some people knew it was gonna happen or there was some speculation behind it so what i wanted to ask you was why do you think that ultra chose chronos versus all the other canvas producers they they obviously had a bunch
Of choices so how come ultra chose chronos and how do you feel about that partnership going forward met with each other they built a relationship and they just kind of hit it off right away news so sometimes i just you know love at first sight they were the first company that that listed in america on the nasdaq yep they’ve been you know kind of around the game
A little bit longer than some other people in america specifically so they may have been a first mover it’s a strategic partnership khronos group is also a global company so it was you know there’s only a few that are really global cannabis first movers and chronoscribe happened to be one of them and we’ve already seen canopy growth did it now chronos group has
Done it and i know who’s next i think aurora’s next you think it row is next to get the partnership yeah i think they will and hopefully it’s coca-cola and that will just turn this industry into another bull market and you can see what happened when altria made the deal chronos group and it turned the entire cannabis sector into the green so i believe this will
Continue and with some of the news that’s going to be coming as early as tomorrow which we’re going to talk about next i believe that might be a catalyst for a lot of these stocks to come back off these 52-week lows yeah for sure i mean that’s what so like our i feel like aurora has such a huge fan base you know on youtube on just everywhere i feel like everyone
Has such a huge fan base and that’s what everybody keeps talking about is when it winds are gonna get a deal you know aurora is it’s even our favorite stock i mean i know you’ve got a ton of picks but just like my dad and i we’ve always we we’ve been in aurora at two bucks like that was like the first cannabis stock we ever bought so it was kind of like just one
Of those things right it sticks with you although you shouldn’t get emotional when it comes to investing but you’ll always have your number one so twice we seem to go to five twice right now they’re at 760 in canada i think it’s a bargain yeah no me too i with that so for the last for the last part of this video and this could be a really big catalyst you know
I’d love to hear your opinion on the farm bill passing and how could it really affect the market and spark a big rally or what’s gonna happen yeah i think that from my research now there are some people saying that it could be delayed they could enter back and forth so this point ii mean delay until the following week so let’s see exactly when it officially gets
Passed but from what i’ve heard it’ll be passing tomorrow and if it does i believe this will be a catalyst i also believe that the cannabis stocks have hit a 52-week low just recently and i believe we are going to see a resurrection and i’m gonna have a song for you guys about the cannabis stock resurrection maybe later today and yeah i believe we’re going to see
A resurrection very soon so stay tuned the farm bill will be a catalyst for many stocks in the cannabis sector specifically hemp companies and government sector companies like c webb charlotte’s web companies cura companies like tru leave i believe are going to be grossly affected by this in a positive way i believe aurora cannabis will be affected by this in
A positive way so stay tuned we will be reporting on all the news as it happens that’s exciting yeah it’s gonna be really interesting to see what happens and i do agree i think that you know the cannabis sucks you just feel the waves and waves of selling and then the bounce on friday so let’s hope for some good news into the future i guess one one last thing we
Could talk about real quick is you know the stock markets were heavily in the red on friday yet the cannabis sector was in the green for the rest of the year at least where do you see the market’s going versus the cannabis sector going scale so concerned about where the entire global market is going and you know maybe going into a recession i hope we’re not but ya
Know it’s like a 10-year cycle so we’re around that point so yeah i’m a little bit concerned about that but am i concerned about the cannabis sector no i believe the cannabis sector is one of the strongest sectors in the world this is a new economy it’s a global economy that is becoming legal and is going to continue to be legal i mean we heard aurora cannabis i
Broke the news they are now in 22 countries they just opened up mexico i mean everything is opening up so yeah i don’t see the cannabis sector going through a recession anytime soon a lot of people are saying oh what’s gonna happen when we get to the point where there’s too much supply well let’s get to that point first we’re not even close fulfill the need of the
Customers so people know what’s gonna happen when we reach our supply first the ocs the ontario cannabis tour cannot meet the demand of the customers yep so let’s get there first you know people are just ridiculous you know they’re running out of we will we will not run out of supply until we get to the point we actually have enough supply exactly let’s get to the
Floor we have enough supply then we’ll worry about oversupply so i’m already talking i’m hearing people talk about oversupply and i’m like are you for real right now over supply under supply yeah how about talk about how are we gonna fix the under supply issues first correct so let’s get to the point where we have too much product yeah then we’ll worry about too
Much product right now we don’t have you been close to enough which is why the illegal sector is flourishing in canada no seriously yes it’s so true government can’t even shut them down because if they did there would be no cannabis yep so that’s a whole nother problem another show for another day exactly exactly well i mean i think that that’s it that’s a great
Video that wraps up this video and always value your opinion ritz it’s nice who you haven’t collabed in a week so i think this was a great video we touched on three awesome topics and yeah i look forward to many more shows in the future big green week coming up guys you heard it here first from your boy rich your boy erin at departures capital we wrote peace peace
Awesome i think that was great
Transcribed from video
Aphria Short Attack, Cronos Group Deal with Altria, Hemp Farm Bill Legalization By RICH TV LIVE