Cannabis Reaffirmation
This was from late May, and I’m repeating for emphasis:
8 Reasons I’m Getting More Positive on Cannabis
I am growing much more optimistic on the cannabis complex.
I plan to super-size my MSOS holdings and I plan to expand individual equity positions (with emphasis on GTBIF, GLASF, TSNDF and VRNO).
Verano Holdings (VRNO) remains my favorite stock in the sector with the best risk/reward proposition.
I am optimistic on the cannabis space because:
* I am extremely confident that rescheduling of both medical and adult use (recreational) will pass in the next few months.
* I am confident that uplistings will soon follow.
* More relaxed custodian rules allowing for institutional purchases of the group.
* The recent debt refinancings have eliminated the frightening debt maturity cliff that some feared.
* Industry fundamentals (volumes and pricing) have stabilized.
* Expectations are very low.
* Massive absolute and relative underperformance over the last five years has created a long runway for appreciation.
* Upside reward is probably more than 5x downside risk.
Position: Long MSOS M VRNO S TSNDF S GLASF S GTBIF S
BY Doug Kass · May 27, 2026, 4:33 PM EDT
BY Doug Kass · May 28, 2026, 6:40 AM EDT
The Big Short Boys Love Cannabis Stocks
“Welcome to “What Are We Doing” (WAWD), the Substack newsletter where Wall Street outsiders—Danny Moses, Vincent Daniel, and Porter Collins, famously portrayed in “The Big Short” pull back the curtain on markets and investing.”
– Danny, Vinnie and Porter
There are few smarter and contrarian investors than Danny Moses, Vincent Daniel and Porter Collins.
Read on:
They Look at Me Like It’s Christmas and I’m Santa Claus
Position: Long MSOS M GLASF S
BY Doug Kass · May 28, 2026, 7:15 AM EDT
