Buying Back Into Weed

This morning I bought back $MSOS at $4.36. 

I correctly wrote recently (after the president’s rescheduling update) that retail didn’t likely have the firepower to sustain a rally in cannabis.

This turned out prescient as MSOS is -20% from just 10 days ago.

Nonetheless, we are moving rapidly towards a broader rescheduling and, after all, everything has a price.  

I am also adding to $VRNO, $GTIBF, $GLASF and $TSNDF.

Position: Long MSOS (S), GITB (VS), TSNDF (VS) GLASF (S), VRNO (VS)

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Posted by Doug Kass

Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality. On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box." A Note from Doug: Current strategies and actionable trade ideas -- all on one dynamic platform built exclusively for active trades. From sudden sell-offs to sudden spikes, TheStreet Pro arms you with crucial analysis -- at a rapid fire, professional pace -- to help you make sound trading decisions -- every day, every hour, and every minute. Join me and my team of professional traders for unique perspectives and breakthrough investment opportunities.

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