"Cannabis seems to be a mania"



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After a hot year in 2018, cannabis stocks are on fire again to begin the year.

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Canadian Cannabis Growth Society (CanemGSC), for example, increased by almost 60% until February, as part of its competitor Aurora Cannabis (CBA) recorded 35% gains in the same segment. "data-reactid =" 16 "> Canadian Cannabis Growth (CGC), for example, rose nearly 60% in February, following the actions of competitor Aurora Cannabis (ACB) posted gains 35% on the same stretch.

Some investors have been cautious, including "Bond King" CEO and founder of DoubleLine Capital, Jeffery Gundlach, who warned investors against the "mania" of cannabis in an exclusive interview with Yahoo Finance on Feb. 13. DoubleLine oversees assets of $ 121 billion.

"Cannabis seems to be a mania," said Gundlach. "I have young guys who work for me and who believe a lot in cannabis, and they claim that it's above all about gaining room on the shelves and making the brand known, to be bought by another big company … but I do not know. "

Canopy Growth, the largest market-cap cannabis company, reported a profit on Thursday and recorded a 282% increase in net income in its last quarter. However, Gundlach was concerned that cannabis companies might be overvalued.

"Some people make a lot of money, but it's not for me. I have no interest in mania, "Gundlach said. "I do not understand why, just because it was illegal, that it had this special magic."

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Companies in other" industries of sin " For example, alcohol giant Constellation Brands, which distributes Corona and Modelo beers in the US, invested $ 4 billion in Canopy Growth last year.a portion of these funds to develop and produce cannabis-infused beverages that are expected to debut in Canada later this year. "data-reactid =" 21 "> The companies of other" sin industries "are trying more and more to exploit this particular magic to stimulate the slowing of growth.For example, the giant of the Constellation Brands, which distributes Corona beers and Modelo beers in The United States invested $ 4 billion in Canopy Growth last year, which used some of these funds to develop and produce beverages infused into the United States. which are expected to make their debut in Canada later this year.

"There is an explosion of smoking"

DoubleLine CEO and founder, Jeffrey Gundlach, talks with Yahoo La Roche of Yahoo Finance for an exclusive interview on February 13, 2019. Source: Yahoo Finance

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The Altria tobacco company, which sells Marlboro cigarettes, also sells In December, the company invested $ 1.8 billion in the cannabis company Cronos Group, in the hope that the rise in marijuana could help support the decline in sales of traditional cigarettes.Altria also has & nbsp ;Juul Labs, an e-cigarette startup, has invested more than $ 12 billion for the same reason. "data-reactid =" 34 "> Altria tobacco company, which sells Marlboro cigarettes, also focused on cannabis space In December, the company invested $ 1.8 billion in the cannabis company Cronos Group, hoping that the rise of marijuana Altria has also invested more than $ 12 billion in Juul Labs, a start-up specializing in e-cigarettes, for the same reason.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Juul, like some cannabis companies offering CBD products, was confronted with & nbsp;careful examination of the United States Food & amp; Drug Administration on the fact that more and more teenagers are taking vapors. A new survey by the Centers for Disease Control and Prevention reveals a 38% increase in the number of high school students using tobacco products, including electronic cigarettes. "Data-reactid =" 35 "> Juul, a bit like some cannabis companies offering CBD-based products The US Food & Drug Administration has looked more closely at the growing number of teenagers. Centers for Disease Control and Prevention has revealed a 38% increase in the number of high school students using tobacco products, including e-cigarettes.

"There is an explosion of smoking, which I suppose is probably a gateway to the cannabis industry. So, there may be something in there, but I find it's an incredibly horrible statistic, "Gundlach said. "In one year, increase of 38%. And now, more than 50% of high school students smoke, mainly vaping, which is probably much worse, much worse than traditional cigarettes. "

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Zack Guzman is the host of YFi PM as well as a reporter and chief reporter who covers entrepreneurship, startups and the latest news at Yahoo Finance. Follow him on Twitter @zGuz."data-reactid =" 37 ">Zack Guzman is the host of YFi PM as well as a reporter and chief reporter who covers entrepreneurship, startups and the latest news at Yahoo Finance. Follow him on Twitter @zGuz.

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