Welcome to a special Independence Day long weekend edition of the News Fix. On July 4, 1776, 13 colonies declared their independence from the British, vowing to create a country dedicated to the idea “that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”
In honor of those 13 colonies that went on to form the United States of America, we bring you 13 headlines shaping the startup, cannabis and crypto sectors.
- “Canopy Growth Shares Slump After Q4 Earnings; Canadian Pot Sales Slow” (TheStreet)
- “Constellation CEO ‘not pleased’ with pot investment Canopy Growth’s recent earnings” (MarketWatch)
- “Bruce Linton says he was fired as co-CEO of Canadian pot company Canopy Growth” (CNBC)
If you’re sensing a theme in those first three headlines, well, you’re right. It’s been an interesting couple of weeks for Canopy Growth. On Thursday’s First Stage Investor Cannabis Report, I will be taking a deep dive into Canopy Growth’s earnings report, the firing of Linton and the future of the company.
- “Illinois Governor Signs Law Legalizing Recreational Use Of Marijuana” (NPR)
- “Congressional Committee Calls For A ‘Moratorium’ on Facebook’s Libra Project” (Forbes)
- “Bitcoin internet searches have a stunning correlation with bitcoin prices” (MarketWatch)
- “60% of Bitcoin hasn’t moved in a year – despite a 220% price bump in 2019” (The Next Web)
- “Bitcoin Rally Fuels Market in Crypto Derivatives” (The Wall Street Journal)
- “World’s First Zero-Fiat ‘Bitcoin Bond’ Now Available on Bloomberg Terminal” (Cointelegraph)
- “Ripple Alum to Spearhead Binance US Crypto Exchange” (CCN)
- “First Successful Blockchain-tracked Shipment from South Korea to the Netherlands” (Cointelegraph)
- “Visa, PayPal May Bear a ‘Heavy Burden’ With Facebook Crypto Plan” (Bloomberg)
- “Sony announces a new $185M fund to invest in tech startups” (TechCrunch)
And that’s your News Fix… 13 headlines for the 13 colonies that started it all.
Hope you have a great Fourth of July holiday weekend.
Good investing,
Vin Narayanan
Senior Managing Editor, Early Investing