CNBC | October 25, 2018
Bennett Gross, president and manager at Los Angeles-based L&S Advisors, said he’s not focused on intraday action and remains excited to be a part of an industry he expects to flourish over the next several years.
“It’s about owning a piece of an industry that’ll be much bigger in five to 10 years. … We really like the financial strength of Canopy in terms of having a large war chest,” Gross said, noting the cannabis producer’s relationship with Constellation Brands.
“Prohibition ends only once, and this industry could be worth tens of billions of dollars,” he added. “I think picking who the winners will be is virtually impossible. We’re happy owning a more established company.”