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Marijuana stocks reach new highs

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Here is what’s happening… Rival Cronos Group is up 40% over the past seven days and 11% on Tuesday alone. Tilray went public on the Nasdaq and is up over 60% since Friday, up 10% on Tuesday. Canopy Growth is up 30% since striking a deal with Corona last week. As you can see, weed stocks are going up into the clouds with these gains, and it is mostly thanks to that Corona deal.


Also thanks to Canada… don’t forget about Canada. Our neighbors to the north (or maybe just your regular neighbors, if you live there), were pioneers in legalizing recreational marijuana nationwide. Cronos, Tilray, and Canopy are all looking to capitalize on the new law and have been announcing plans left and right.


There needs to be a first… and Canada has done just that. Now, investors are hoping that other countries, especially the United States, will follow suit. However, Constellation investing in Canopy seems to be enough for investors to get that warm, fuzzy feeling that the green is known to give.


Uber can’t go public without one of these…

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Believe it or not… Uber didn’t have a CFO until today. That’s right – Uber has been operating without a CFO since 2015. But have no fear because Nelson J. Chai is here! Chai has experience as a CFO for Merrill Lynch & Co., and in case you didn’t know, Uber is going public pretty soon so this move makes a lot of sense.


They were very selective… as the ride-share company should be because it isn’t like there was a shortage of applicants. Moreover, Uber now has their guy, and he looks to be a good one. The new hire is also good news for the company because the finance department at Uber was hurting after their head of global finance left to play CFO at DoorDash.


The latest hire… out of several new hires to improve the executive ranks at Uber. The company also got another “chief” last week in former NSA official Matt Olsen. Olsen will be taking over as the chief security officer at the company. Talk about getting your $#!% together right before making the leap to go public.


This company is doing ‘Uber’ well

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Uber killed it… in the second quarter. The ride-share company’s quarterly revenue was up 63% compared to last year. Gross bookings also increased by 41% to nearly $12 billion. With such an impressive rate of growth, it is no wonder why this private company continues to release results when they are not even required to.


Investing in the future… and in case you haven’t noticed, the company is moving way beyond cars. Uber is delving into the bike-share and scooter-share markets, as well. The company also operates UberEATS and is investing heavily in the Middle East and India.


Pay attention closely… because Uber could be going public as soon as 2019 and begin profit-sharing for the first time. However, for everything great the company is doing, they still have their fair share of issues. These issues include regulatory hurdles, such as New York City limiting the number of ride-share vehicles allowed in the city. Why does the “man” always gotta bring us down?