Andrew Left of Citron Research looking to create cannabis-fund, says Bloomberg
Activist stock researcher Andrew Left of Citron Research is looking to create a cannabis-related fund to play both the long and short positions in the sector, a report by Bloomberg said.
Left, who is short on cannabis stocks such as Tiltary Inc (NASDAQ:TLRY) and Cronos Group Inc (NASDAQ:CRON), said the fund’s value would likely be in the hundreds of millions of dollars, the report said.
The fund would invest in Canadian-listed marijuana companies before expanding to US firms if they are able to list on US exchanges over a 24-month period.
READ: Are marijuana stocks too high for an investor tempted to join the party, or do they have room to run?
“It’s not the ninth inning, it’s the third inning because we’re only trading with Canadian companies. There’s so many private companies in the US that can’t go public in the US. Whether it’s going to be in two years depending on who our attorney general will be or in four years, it’s going to happen,” Left said in the report.
Cannabis-listed companies have turned into a hot market sector ahead of the legalization of cannabis in Canada in mid-October.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/205788/andrew-left-of-citron-research-looking-to-create-cannabis-fund-says-bloomberg-205788.html
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