Friends – just a quick note about an article in this morning’s WSJ about how Wall Street is champing (chomping?) at the bit to get into the Cannabis business in the US and start earning a piece of those delicious, delicious fees. (link (although behind a paywall)) The article misses the fact that Cowen has been covering the industry for a long time, that US banks lent domestically into the Constellation/Canopy deal, and that US investment banks with Canadian counterparts are already advising on deals.* But this is just another sign that Cannabis continues to grow into a legitimate, mainstream business.
*It also doesn’t mention that I wrote about this last summer (see my blog!), but the Journal forgot to call me for comment.
Written by: Marc Hauser