Todd Harrison on Wall Street’s Growing Cannabis Interest



CB1 Capital Management CIO Todd Harrison shares his interpretation of the market’s recent bullish turn. He points to Fed chair Jerome Powell walking back earlier comments on interest rate rises as a potential macro catalyst but also cautions the markets, including the cannabis space, need to work through the technical damage done in Q4 2018. Despite recent action, Harrison believes the current rebound is transitory. Harrison is more optimistic about the cannabis space and he suggests Wall Street’s increased interest in the cannabis sector is a precursor to greater institutional participation in the space, which will act as a catalyst for the industry. CB1 Capital is a long-term investor in the cannabis space and is particularly interested in efficacy-driven solutions developed by cannabis biotech companies. Harrison reminds investors to pay attention to the consumer side of the cannabis equation, as he expects the Farm Bill’s legalization of industrial hemp to have massive applications for wellness products.

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