LAKEWOOD: SHORT CELLTRION AND SNOOP-DOGG BACKED WEED FIRM
ValueWalk, 29 January 2018
Lakewood Capital Management, the mutl billion dollar hedge fund led by Anthony Bozza, is calling the top of the marijuana stock boom. The firm revealed short positions in two major cannabis companies in its full-year and fourth quarter letter to investors, a copy of which has been reviewed by ValueWalk. The Lakewood hedge fund is short Canopy Growth, and Aurora Cannabis as Bozza and team believe that these pot stocks are highly overvalued and trade no nothing more than hot air.
One Of The Last Remaining Short Only Hedge Funds Warns Of Risk Parity “Liquidity Crash”. “Heading into the final months of 2017, each of these public companies sported market capitalizations that were nearly impossible to rationalize” the letter notes, “but nonetheless, the stocks saw their values more than triple in just a few short weeks around year-end as focus turned to the legalization of recreational marijuana in California on January 1, 2018” it continues.
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