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MicroStrategy CEO sees an ‘avalanche’ of companies buying bitcoin

3 weeks ago
in Cash
2 min read
MicroStrategy CEO sees an ‘avalanche’ of companies buying bitcoin
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TipRanks

2 “Strong Buy” Cannabis Stocks Showing Monster Growth

Investors have been fixated on growth companies over the past year, and one segment which has been on the rise is the fledgling cannabis industry. The sector offers a unique proposition and the prospect of further growth, as there is still a major catalyst on the horizon which will completely alter the industry. As expected, a Democrat led senate has been good news for those banking on marijuana reform at the federal level; And it looks like the anticipated changes could happen faster than initially expected. Backed by Senate majority leader Chuck Schumer, Democratic Senators have stated that they will push for federal-level legalization of marijuana, promising “a unified discussion draft on comprehensive [cannabis] reform” in the first half of this year. The statement feeds expectations that the Democratic Congressional majority will pass – and that President Biden will sign – a bill to legalize marijuana. Investors are also looking at further state-level legalization moves; one key state in this regard is New York. So, the cannabis industry is looking up. There is an expanding network of state legalization regimes, and expectations of a change in federal policy; both are putting upward pressure on cannabis shares. Against this backdrop, we used TipRanks’ database to find two cannabis stocks that have been earmarked as ‘Strong Buys’ by the analyst consensus. Both have posted impressive year-to-date performances, and stand to rise even more in the year ahead. Village Farms International (VFF) We will start with Village Farms International, a company that has long been involved in the niche agricultural business. The company started out as a farmer, producing high-quality greenhouse vegetables year-round for sale in the North American market. That background fit the company well for a transition to the cannabis industry – Village Farms has experience in greenhouse production and industrial-scale growing. Village Farms’ shares are showing a tremendous growth profile, up 327% in the past 12 months – with a strong spike in recent days. Two important pieces of news precipitated the surge since the end of January. First, the company has fully repaid – ahead of schedule – the $15 million debt it incurred during its November acquisition of the cannabis growing company Pure Sunfarms. And second, Village Farms increased its investment in the Asian cannabinoid company Altum by 50%, to hold a 10% stake in the company. The move increases the international reach of Village Farms, and its ability to increase Altum holdings in the future. The company was able to fund these moves because it had a successful equity sale in January, putting an additional 10.8 million shares on the market, and raising US$135 million in new capital. In addition to its strong capital and expansion positions, Village Farms has been reporting solid financial results. The company saw US$43 million in…



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