Hilary Kramer
Remember Earnings? Ground Rules for The Post-COVID Market
Remember earnings? As the shocks of 2020 slide into the past, Wall Street has spent the last few weeks figuring out how to get back on the old quarterly rhythm that dominates normal market life. Earnings dropped into the background for many investors over the past year. There just wasn’t a lot of point in […]
Bragging About My Own Book
Big Cannabis took a step back this week as investors ponder the ultimate future of the largest cultivators. In a world where Aurora Cannabis Inc. (NYSE:ACB) needs to sell $125 million in stock to survive, size is clearly not the key to success. But on my end of the industry, we’re having a lot of […]
My 2021 Sector Pick: Why Wall Street Can’t Quit the Big Banks
This morning’s quarterly numbers from three of the largest U.S. financial institutions weren’t greeted with cheers. But if you think the banks are crashing, you just haven’t been paying attention. The S&P 500 has made only minimal progress year to date (YTD). On average, the seven biggest bank stocks on my screen — including this […]
Cannabis Corner: The Glut is Over
Aphria Inc. (NASDAQ:APHA) remains one of the best of the big cultivators. This week’s earnings report gave us even more evidence. Revenue is expanding at a healthy 33% annualized rate despite the pandemic disruptions in retail consumer markets. It makes sense: APHA is active in the medicinal market, where sick people don’t have a choice […]
Regulatory Risk Recedes
Cannabis enthusiastically applauded the Georgia vote. A few more senators in either direction won’t necessarily help the industry, but the threat of an unfriendly Department of Justice cracking back down seems extremely remote now. Laws recriminalizing cannabis are not going to get passed for at least another two years. Instead, we may see a few […]
The Bulls Are Running In 2021: Don’t Get Left Out (But Don’t Get Trampled)
Wall Street made a lot of money in 2020 despite extremely challenging circumstances. Now, investors are looking to extend their gains into a new year and a new political cycle. The first lesson we’ve learned this week is that an extremely narrow Democratic Party control of the federal government for the next few years is […]