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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (39594)	1/12/2018 6:30:52 PM
From: Goose94	Read Replies (1) of 202404

Newstrike Resources (HIP-V) Tragically Hip lead guitarist Rob Baker and his band are significant investors in Newstrike Resources, a consumer-focused weed producer. CanniMed Therapeutics (CMED-T), a medical-marijuana grower and distributor, has launched a friendly bid for Newstrike. Mr. Baker supports the deal, which is not yet a sure thing. Mr. Baker says: "No one's really earning any money and there are crazy valuations on companies. I watch the stock price with great interest and amusement, and I do figuring in my head. But my wife and I, we buy into these things because they are things we believe in. We're not into day trading and trying to make a quick buck." A quick buck is exactly what the Tragically Hip and its management have earned with their 5.4-per-cent interest in Newstrike. Though Newstrike has yet to generate any revenue, it nevertheless had a market capitalization of more than $1.1-billion earlier this week. The Hip's interest is worth about $39-million. The Hip signed on with Newstrike in early 2017. Interestingly, Mr. Baker's interest comes several years after he gave up smoking weed himself.

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