25 June Watchlist 👀

 

Today we are watching…

1. Canopy Growth (#weedc)

The Invstr community loves nothing more than an acquisition, and for good reason. The target company in a buyout sees its share soar as the acquiring firm’s offer is made, anchored to a much higher valuation. The steps to approve a merger or acquisition are important to keep up the excitement, but antitrust panels can spoil the fun. There’s uproar as long-time Justice Department official John Elias testifies in court that Attorney General William Barr blocked pot stock mergers last year because he didn’t like weed, and that’s the only reason. It’s only cool to block a merger if it risks a monopoly, but he blocked two unnamed companies merging that would have combined for just 0.35% market share! Justice for cannabis?

2. Delta Air Lines (#delta)

The renewed coronavirus spread across the United States has prompted the state of New York to prolong quarantines for travelers moving through JFK, Newark, and LaGuardia. These airports are hubs for several mainline carriers. Delta Air Lines and American Airlines use JFK as a hub, and their routes extend out like spokes from New York. The stocks of these airlines dropped yesterday as the airports were deemed “hot spots” for the virus. United also has a hub at Newark. These airlines shares should trade at almost nothing given their zombie status. The stimulus isn’t all free, it’s debt to be paid back. These airlines will be paying it back for years to come before equity can be repaired.

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Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

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