Podcast: Tobacco Giant Invests $1.8B in Pot Stock Cronos and Two Other Numbers You Need to Know
Numbers By Barron’s is a two-minute financial podcast with three vital numbers to start your morning. Available on iTunes, Stitcher, and wherever you get your podcasts-as well as on your Amazon Alexa smart speaker
Three numbers to start your day:
This cut will start on January and run for six months.
Russia’s newfound influence among the oil-producing countries is not one to be ignored. While Russia’s crude and natural gas production recently has been running at all-time highs-even higher than Saudi Arabia’s-its burden of production cuts is smaller.
-since the alleged sexual misconduct by former CEO Les Moonves came to light in July.
Tomorrow, CBS will host its annual shareholders meeting. The meeting was delayed several times this year due to the Moonves investigation and CBS’ legal battle with controlling shareholder National Amusements.
Based on the per share value in cash, the tobacco giant is paying 40% more than what Cronos’ stock was trading at last week.
Pot stock investors should be giddy. Not only did the deal lift other pot stocks, but Altria’s investment basically put a $2 billion price tag on a company that lost about $5 million in the September quarter.
Numbers by Barron’s is a new daily podcast. Find out morehere.
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