Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move; Interview with Matt Markiewicz, Managing Director of the Cannabis ETF (NYSE: $THCX)
Delta, Kelowna, BC, February 18, 2020 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Read this in full at https://www.investorideas.com/news/2020/cannabis-potcasts/02181Interview-NYSETHCX.asp
Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast Investorideas interview Matt Markiewicz, the Managing Director of The Cannabis ETF (NYSE: THCX), where we discussed how the market, as well as the ETF, has evolved and changed since Investorideas previous interview with Matt, as well where there is potential growth and optimism looking ahead at the cannabis space.
When asked about how the negative press and financial results over the past few months have impacted the ETF as well as the cannabis market, Markiewicz commented, “In terms of the impact on the ETF, we’re down nearly 13% and a lot of that has been driven by the sell off in the larger LP’s because we do have an overweight position in Canopy, Cronos, Tilray, Organigram and Aphria. They are the bell-weathers of the industry. They give the investor the best peak into what’s going on in the cannabis industry in Canada and it’s been a rough go over the past few months. There has been a lot of news flow in the sector, and it’s not been great news obviously, but it is needed from the perspective of the costs needing to be more aligned with where the growth rate is looking to go in Canada, especially in the medium term, and this reckoning is something that had to happen for several months now.”
Markiewicz also went on to discuss the roles of the CEO in some of the larger LP’s, as there has been a consistent theme of management change over in the last year, saying “I think change is oftentimes a little bit shocking to people, but in these cases, and I think we will see more by the way, change was necessary. You have to remember that a lot of these cannabis companies are newly minted public companies so there is a certain type of behaviour that needs to be followed. They have a fiduciary duty to shareholders, that is their main objective, especially for boards on a lot of these companies. They’re thinking about how we best serve shareholders. Internally change can be hard to embrace, but externally for shareholders it's necessary, especially when things aren’t working. A lot of the problems in the industry are well outside management control in Canada at this point, and these C-level executives can’t control market dynamics, but they can control the messaging and the expectations that are built around growth for the industry and those companies.”
When asked about the total impact these management changes have had on the industry as well as the stock market, Markiewicz commented, “These changes that have been announced over the past couple of weeks in the industry haven’t really managed to instill any investor confidence from the standpoint of moving the stocks higher.”
Markiewicz went on to discuss new opportunities when looking at international markets, growth in the ancillary services sector of the industry, the rollout of Candian cannabis retail, Cannabis 2.0 sales, as well as the new opportunities that may arise as more companies are able to uplist and go public.
Listen to Investorideas previous interviews with Matt Markiewicz from August here and November here.
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