CannTrust Still Crashing, Class Action Lawsuits are Incoming

It’s been a week since news broke that CannTrust Holdings (TSX:TRST) (NYSE:CTST) was busted by Health Canada for growing cannabis in unlicensed rooms in its Ontario greenhouse. The news resulted in more than 12,500 kgs of product being put on hold and shook investors’ faith in the company, as well as the cannabis sector as a whole.

“This has literally put a stain on the entire sector,” says Rich. “CannTrust, if you are listening, you guys have patients that can’t put in orders. 70,000 patients now have no access to their medicine.”

CannTrust is Going Down Every Single Second

After a week of negative media attention for CannTrust, its stock fell nearly 50 percent on the Toronto Stock Exchange, from $6.46 on July 5 to a low of $3.43 on the following Friday. In that same time, on the New York Stock Exchange, the company fell from $4.94 to $2.55.

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“It’s going down every single second, every single minute, every single day. It’s going down. Everybody’s shorting it,” explains Rich. “How low is it going to go?”

Things are likely to get worse before they get better for the company, as today the Financial Post reported that 14 legal firms have hit CannTrust with class-action lawsuits. These suits are coming from both Canada and the United States, though the majority are American.

The suits allege that the misleading statements CannTrust made while it was growing cannabis in unlicensed rooms constitutes a breach of securities laws.

The Whole Industry is in the Red

Though CannTrust’s stock rebounded slightly this morning to $3.99 on the TSX, the company remains at a nearly two-year low point. This mirrors the downturn in both the Canadian and United States Marijuana Indexes, as pot stocks have been in a slump all summer.

“The whole industry is bleeding, but it’s just an interesting buying opportunity,” Rich adds.

When will cannabis see its resurrection? Is CannTrust starting to turn around, or is the worst yet to come? Let us know your thoughts below.

Continue reading for the full video transcription.

Featured Image: DepositPhotos © nito103

Full Video Transcript

00:01
[Music]
00:20
[Music]
00:34
[Music]
01:37
[Music]
01:52
now I’m getting messages after messages
01:56
after messages after messages we’ll can
01:59
trust everybody wants to talk about can
02:01
trust what’s gonna happen to can trust I
02:03
told you guys it’s gonna go down
02:05
it’s going down it’s going down every
02:07
single second every single minute every
02:09
single day it’s going down it’s going
02:11
down everybody shorty it’s going down Oh
02:18
so how lows are gonna go that’s the
02:20
question
02:22
that’s the question how low is it going
02:25
to go this has literally put a stain on
02:28
the entire sector can trust you guys are
02:33
watching you guys have patients that
02:38
can’t put in orders you guys have 13,000
02:45
kilograms of cannabis which at like five
02:52
bucks is like 65 million dollars
02:59
Health Canada if you guys are watching
03:01
this and you know who we are
03:03
I know who you guys are cannabis is a
03:12
gift from the gods
03:13
you can’t just burn 13,000 kgs of
03:18
cannabis that’s not Canadian that’s
03:23
gotta be like against the law this is
03:28
medicine
03:33
I say sell the weed or turn it into CBDs
03:39
whatever you want to do with it and give
03:43
it to the people that’s what you guys
03:46
should do there’s no need to take away
03:50
licenses and destroy this company and
03:58
seventy thousand patients now have no
04:02
access to their medicine why do you need
04:06
to go and do that why do we gotta go and
04:09
burn thirteen thousand kgs of perfectly
04:14
good cannabis now I know they did
04:17
something wrong they had a little bit of
04:21
premature ejaculation I understand I get
04:25
it
04:26
they jump the gun a little bit
04:29
you already said they could be drug
04:32
dealers now you’re gonna tell the drug
04:34
dealer that he grew too soon come on
04:37
guys
04:38
come on guys they’re legal drug dealers
04:45
you picked them you chose them what are
04:50
you gonna do to them now the business
04:59
last year at this time now it’s legal so
05:05
the guys that you know they decided to
05:07
jump the gun a little bit they got a
05:09
little excited they got a little anxious
05:12
so the we give the money to the people
05:15
or give the weed away for free to the
05:18
people why not take care of the people
05:23
don’t burn 13,000 kgs of cannabis that’s
05:29
gotta be against the law because this is
05:33
a plant that we love and this is a plant
05:36
that is saving lives this is a plant
05:38
that is create sea wheedies let me show
05:41
you I got CDs it’s your job to protect
06:05
natives if it’s your job to protect the
06:07
people then protect us protect us
06:11
protect us ok do you know many
06:14
shareholders I’ve had to hear say rich
06:17
what do I do
06:18
what do you want me to do you want me to
06:20
tell you to sell for a loss I don’t want
06:22
to tell you to sell for a loss but when
06:25
people say to me rich what’s happening
06:27
we can’t trust are they going down I’m
06:29
like hell yeah they’re gonna go down so
06:30
people are shorting it members are
06:33
shorting it and making money what else
06:34
do you want me to tell you guys let’s
06:38
see was here sorry guys I went a little
06:40
bit of red Spartacus
06:43
yes can’t trust is just ridiculous a
06:47
thief Chowdhury how you doing
06:50
everybody’s leading that’s in the
06:52
cannabis sector we’re at 52 we close
06:54
we’re below 52 we close
06:55
so everybody’s leaving if you’re holding
06:57
cannabis stocks you’re bleeding if
06:59
you’re sitting on cash I’m sitting a lot
07:01
of cash right now
07:02
I’m looking for the bottom we’re pretty
07:05
damn close right new 52 we close so
07:09
I was literally going to make a move
07:12
today and then I saw things just kept
07:14
going I’m like no I’m chilling on that
07:16
Oh yo this shit’s going down more and I
07:19
was like whoa everything was down I was
07:22
like okay so canopy growth fires Bruce
07:29
canopy growth goes down from $53 to 44
07:34
since they fired Bruce and I made a
07:36
video I was the first one to make a
07:38
video when I was shocked
07:40
and I was like this is the worst thing
07:41
you could do you’re firing the founder
07:44
the guy who created the whole thing the
07:47
guy that has all the relationships all
07:49
the contacts with all the people that he
07:51
built this huge company with all over
07:53
the world and you’re gonna just take it
07:55
from you honestly think that’s gonna be
07:58
a good thing no not in my books it’s not
08:01
a good thing and then that same guy that
08:05
you guys toasted the guy that built the
08:08
number-one cannabis company in the world
08:10
in six years walks away with a billion
08:15
dollars and then says oh by the way I’m
08:18
wearing a Martello shirt this is my new
08:21
company because I can’t do cannabis for
08:23
two years in Canada but I’ll pick one
08:25
American company and I’ll go work with
08:28
one American company and I’m gonna work
08:31
with Martello but we’re not gonna go up
08:33
too fast
08:34
oh yeah there it’s 77 cents today they
08:38
were at 18 cents when you wore the shirt
08:41
that said Martello the day he got fired
08:44
yeah that’s sure they were 18 cents so
08:49
this time is that 18 double that up 36
08:55
36 times 2 is 72 so 300% we’re up 300%
09:02
on Martello since the matter wore the
09:05
shirt and canopy growth is down $9 from
09:10
fifty three dollars to forty four
09:12
dollars coincidence just bad timing
09:22
Bruce gets fired from his own company
09:25
the whole industries turned upside down
09:27
with that firing by the way and then you
09:34
just fire the number one guy in the
09:36
whole industry treating him like trash
09:38
let’s send them out to the streets and
09:40
then he just picks himself up dusted the
09:43
saws okay I’m gonna work with this
09:44
little tech company called Martello and
09:46
he takes it up 300% while can it be
09:49
losses 20% that’s some boss status as
09:54
boss status
09:57
Spartacus says Monday is a day for all
10:01
of us to bounce back guys yeah you know
10:03
I think that’s very possible but I also
10:05
think that you know because we are in
10:07
the dead of summer only the elite know
10:10
exactly where they want this to go only
10:12
the market makers know exactly where
10:14
they want us to go but I’ll tell you
10:15
right now we’re near a bottom we’re at
10:18
the bottom where the lowest we’ve been
10:20
in a year so yeah we can make new
10:23
bottoms but at some point there will be
10:25
a dead cat bounce and there will be a
10:27
resurrection and it will be epic
10:29
it will be epic we got seven lights
10:37
thank you guys for the legs I appreciate
10:38
that can’t trust is so disappointing and
10:44
I think what they’re doing is good
10:47
because they voluntarily stop selling
10:51
cannabis they voluntarily are saying we
10:58
made a mistake with 5,000 kgs but
11:00
there’s another 7,500 kg’s that we’re
11:02
gonna put aside just in case I think
11:08
Health Canada just has to give them a
11:09
fine and then make it a big fine like
11:13
ten million dollars and then donate the
11:15
money to some type of cannabis CBD
11:20
research and Education Foundation and
11:24
they should create a foundation for
11:26
these situations
11:28
and then companies that do this will
11:30
take a burn financially this is the way
11:33
it works with bigger companies we just
11:35
heard that JP Morgan has run into some
11:37
problems recently
11:38
there’s banks that are having issues and
11:42
we’ve heard it from many big banks in
11:44
America and typically the way it works
11:46
with those companies is they pay a fine
11:50
Tesla had issues they paid a fine
11:54
typically you pay a fine I think that
11:59
Health Canada should create a precedent
12:01
here and they should make them pay a
12:03
fine I don’t think they should take away
12:05
licence I don’t think you should hurt
12:07
patients from having the ability to get
12:10
their medicine I think that’s the wrong
12:11
way to go about it I don’t think that’s
12:13
the reason why we should be doing this
12:15
we should be doing this for health
12:17
purposes right Health Canada it’s for
12:21
health purposes so now there’s patients
12:24
that can’t get their medicine you’re
12:29
sitting on 13,000 kgs of cannabis what
12:33
are you gonna do with it you’re gonna
12:35
destroy it really at ten dollars a gram
12:39
that’s a hundred and thirty million
12:41
dollars why would you do that and I pray
12:45
that that doesn’t happen because that’s
12:46
a big waste you gotta find them
12:50
they’re drug dealers they’re legal drug
12:53
dealers now you’re gonna treat them
12:54
different why so yeah they they jump the
12:58
gun for six months they built some walls
13:00
they hit it they were doing that
13:02
illegally for years now they’re your
13:04
partner’s you can’t just you know be a
13:09
partner with someone and not be willing
13:11
to accept some of the skeletons in their
13:13
closet that’s the industry that they’re
13:14
in so I’ve had a lot of time to think
13:16
about it and I’m like man you can’t have
13:18
your cake you needed to you can’t be
13:20
like oh I want the black market to be
13:23
part of you know the legal market now
13:26
it’s the same business and yeah they
13:29
jumped the gun a little bit they had a
13:30
little bit of weed growing in a
13:32
different room who cares who cares I’m
13:37
not gonna lose any sleep over it I don’t
13:40
think any
13:41
but if you just crush these guys take
13:46
away a license for example then if the
13:52
stock keeps going down the lawsuits are
13:55
gonna be unrealistic they’re not gonna
13:58
be able to pay them then what you’re
14:01
gonna bankrupt the company so then you
14:03
bankrupt the company so then all the
14:05
shareholders lose all the patients lose
14:07
you lose now how Canada loses because
14:10
now you’re not getting any tax revenue
14:13
so how is that a positive thing for
14:17
anybody to try to prove a point I think
14:21
the way you prove a point is you you
14:22
give them a big fine if ten million is
14:24
not enough give them 20 million fine
14:25
give them 25 million dollar fine give
14:28
them a 50 million dollar fine don’t burn
14:31
the weed don’t waste the God’s gift to
14:36
mankind
14:38
medicine this is medicine this takes
14:42
away seizures this takes away pain this
14:44
takes away inflammation it’s just a
14:47
little spray man this is like a little
14:49
spray spraying that’s it medicine it’s
14:53
medicine doesn’t even have any THC in it
14:57
it’s like 99.9% CBD no THC almost no THC
15:07
so just lap them on the wrist and let
15:09
them go on their way mind no need to
15:12
kill the industry man look at what’s
15:13
happening here
15:15
just the Shorter’s are loving it and
15:17
implosion of epic proportions stupid the
15:21
whole sector is getting crushed come on
15:25
man
15:26
gotta be handled better you can’t take
15:29
these guys and just leave them in
15:31
purgatory for months they’re in anti
15:34
destroying this company if it can trust
15:36
doesn’t get this resolved soon this is
15:39
gonna get really ugly guys hope you guys
15:42
understand it’s gonna get really ugly as
15:48
Chowdhury says gonna pick up a CB on
15:51
Monday yeah I’m looking at it man thank
15:54
you guys for the twelve Lakes globe on
15:58
my plate says we haven’t read between
16:00
the lines for CTS t this stand for Kent
16:03
trust yeah I mean this is the joke now
16:07
they’re gonna have to change their name
16:08
just it was a big mistake but I think
16:12
that Health Canada can show some
16:15
maturity and dealing with this quickly
16:16
and moving on and not dragging this out
16:18
and making this like a huge huge ordeal
16:21
because now that the news is coming out
16:23
that they’ve had many infractions for
16:24
years Health Canada has already been
16:26
dealing with them so now you’re gonna
16:28
make it public and now you’re gonna make
16:30
it a huge ordeal but what all the times
16:32
they made mistakes before was okay
16:35
it’s crazy Wayne says was about to buy
16:42
can’t trust on July the fourth didn’t
16:44
get the time to do it can’t believe I
16:46
missed that one yeah that was the short
16:49
that was the short stock tube home says
16:55
yes give it to the marijuana people yeah
16:59
give the we to the people this is our
17:02
country anyways this is our planet give
17:06
it to the people Wayne it says I’m busy
17:10
dealing with heavy red ggb ACB IA n and
17:14
i Sol when you’re at a 52-week low
17:18
anybody who bought higher than a 52-week
17:20
low is in the red so at the end of the
17:26
day this is a buying opportunity no
17:29
other way to say it other than that
17:31
Wayne says added to my Zima collection
17:34
today though yeah I mean this is the
17:36
time where you can really pick your
17:38
cherries these are the ones I want I’m
17:41
gonna go and I’m gonna go and get it
17:43
right everything is dirt cheap there’s
17:44
panic in the market same thing happened
17:46
when ou gana Graham had pesticides in
17:49
their crops that stock tanked and I went
17:53
to like a buck everybody was panicking
17:55
and saying it was gonna go to nothing
17:57
and I’m like nah they’ll get through
17:58
this this is legalized can’t like this
18:01
is legalized
18:02
drug-dealing this is legalized drug
18:05
dealing so like you know what you’re
18:08
getting into you know what you’re
18:10
dealing with there’s no need to get
18:13
crazy over anything these guys are
18:16
growing for Health Canada they grew a
18:18
little bit 13,000 kgs a little bit too
18:22
soon you slap him on the wrist and you
18:25
move on that’s it
18:27
don’t need to go crazy no need to kill
18:30
the industry no need to turn it into
18:32
like a Bitcoin crash like how Bitcoin
18:36
went from 20,000 to 2,000 like that was
18:38
terrible we don’t need to see that
18:41
I mean selfishly I part of me wants that
18:44
because I want to buy as low as possible
18:46
but I mean when do we know when when do
18:49
we know we’re gonna find the bottom
18:51
health canada doesn’t look like they’re
18:53
in a rush to resolve this issue or have
18:55
some resolution so I’m hearing it’s
18:59
gonna be like six to eight weeks
19:01
I’m like yo that’s a long time for can’t
19:03
just to go down to have a present every
19:04
day jeez what is that another 200
19:09
percent from here yeah that’ll take them
19:14
to a buck I think it’s very likely that
19:17
if Health Canada doesn’t address this
19:19
soon this is gonna go to a dollar guys
19:21
and it might even go lower than a dollar
19:22
which is nuts but I promise you this it
19:25
can’t just goes to a dollar I will buy
19:26
10,000 shares I will buy 10,000 shares
19:30
of a dollar
19:30
I’m putting it up there right now
19:37
it’s crazy stop stock tuba home says
19:43
pretty mad at can’t trust though for
19:46
making the whole industry bleed while
19:47
everybody else is green well you know
19:50
what it’s also just a buying opportunity
19:51
you just gotta look at that we can also
19:53
like thank them because if you’re an
19:54
investor you’re looking to buy low right
19:56
so this is really a good thing obviously
19:58
for all any of your holdings it sucks
20:00
but if you weren’t planning on selling
20:01
anyways what difference does it make
20:04
Alex Castillo says hey rich
20:06
hey Alex man I’ve been reading all your
20:08
messages bro now’s the time to drop them
20:10
you’ve been putting a lot of words into
20:14
this for me so got me thinking about it
20:16
and that’s what I want to bring this
20:17
video alex says t rst they have twelve
20:21
months of cash funds to survive without
20:23
revenue yeah but that’s a crazy way to
20:25
do business man man who says I’m so so
20:32
down in canopy globe on my plate says
20:36
Bruce might be smoking weed and having
20:38
the last laugh all I mean Bruce might be
20:42
the one selling it Bruce and all his
20:43
team to prove a point
20:46
I mean let’s be honest who has all the
20:49
shares who’s creating all the selling
20:55
Stelling all of his CGC and buying MTL
20:59
oh who knows
21:04
Alex says with what is happening we will
21:06
have new 52 we close but I agree stocks
21:09
will go up oh they’re gonna go up the
21:12
entire world is going up except for the
21:14
cannabis stock industry and that’s
21:16
because they fired the founder of the
21:18
biggest company in the industry and turn
21:20
the entire industry upside down and can
21:22
trust got caught growing twelve thousand
21:26
five hundred kgs kilograms of illegal
21:32
cannabis but I say you knew they were
21:36
illegal growers anyways that became
21:39
legal growers because that’s how they
21:42
learned so let’s not be stupid let’s be
21:45
honest about what we’re doing here
21:46
there’s no need to go crazy let’s be
21:49
grown up some
21:50
about this let’s be grown adults let’s
21:53
address this like business people slap
21:55
them with a fine
21:56
make it a big fine if anybody else sees
21:59
this type of situation happen again
22:01
Health Canada starts doing random
22:03
testing and this happens again
22:05
Health Canada all you got to do slap
22:07
another fight you know first time
22:10
offense 25 million second time offense
22:12
50 million third time offense hundred
22:14
million put it out there you want to get
22:18
caught growing you want to try to play a
22:20
little game behind the wall Health
22:22
Canada finds out you get a major fine I
22:26
mean this is the way it works with the
22:28
bigger companies I mean I’ve seen this
22:31
for years all the big banks all the big
22:33
companies whenever they have an issue Oh
22:35
somebody’s bribing somebody in this
22:36
country to get this deal done to get
22:38
caught slap them on the wrist
22:40
billion-dollar fine I mean I seen it so
22:43
why would help Canada treat it any
22:45
different and if you really are
22:48
concerned about the public take that
22:50
money and either give it to the people
22:52
or give the people the cannabis give it
22:56
to the medical patients that right now
22:58
are not able to put in orders or donate
23:02
the money to cannabis education or
23:04
research if you’re really care about the
23:08
people and I’m not saying you don’t I
23:13
just want to put it out there Kenny
23:19
Green says rich I think consolation
23:21
wants to bring the stock down so they
23:23
could buy more stock at a lower price
23:24
then shoot up again yeah I mean that’s a
23:27
possibility Kenny I mean everybody at
23:30
the highest level the elite they all
23:33
have their own game they want to play at
23:35
the end of the day this is the middle of
23:37
the summer this was gonna happen anyways
23:38
it’s no different than what it’s always
23:40
been every middle of the summer this is
23:44
the best time to buy everybody knows it
23:46
everybody that has money is buying right
23:48
now at the bottom and we know we’re
23:51
going to have a massive resurrection and
23:53
when their resurrection comes it’s going
23:55
to be big we’re gonna see 50 to 100
23:57
percent jumps right now you’re seeing 50
24:01
to 100 percent losses so
24:03
those that are patient we’ll get through
24:04
it and come out on top and those that
24:07
are selling are gonna are gonna get hurt
24:09
those that are shorting are winning
24:11
right now the Bears are winning the
24:15
Bears are winning the Bulls not so much
24:18
these balls they’re not winning right
24:22
now they’re not winning right now
24:25
no we need a bull market can we get a
24:28
bull market like talk to the talk to the
24:31
bull we need a bull market can we get a
24:33
bull market can we can we get a bull
24:36
market you need a bull market seriously
24:39
but right now the Bears are winning it’s
24:43
all about the Bears
24:44
[Music]
24:52
Alex Castillo says Kenny that would be a
24:55
very dirty move good point
24:57
then higher brews back haha if you think
25:01
it’s good for constellations for a stock
25:03
price to go down I guarantee you if they
25:05
hired him back the stock would shoot up
25:09
man who says my canopy money is so dead
25:13
canopies gonna go back up AJ past says
25:18
are you buying anything on Monday rich
25:20
I wanted to buy today and I almost did
25:23
and then I saw everything went down
25:24
lower and I was just like whoa let’s
25:27
just chill let’s just chill you know I
25:31
was like no fuck that oh my god chilly
25:35
cuz I’m about to put in some big money
25:37
so I’m just like no I’m chilling I’m
25:39
chilling on that shit so yeah no not yet
25:43
but soon cuz I like the 52-week low as
25:46
mine this is it’s a 52-week low load
25:50
this is how we go go rich TV is here I
25:55
mean that’s just the way we go we love
25:56
the 52 we close man so yeah man if you
26:01
listen to elk it do you guys hear the
26:03
new song from elk it’d kill this guy’s
26:05
talented man this guy’s talented but I
26:07
don’t think he got the memo from can
26:09
trust did you guys hear the line from
26:10
can trust but he talked
26:17
but namaste namaste is one of the only
26:18
stocks that actually was in the green
26:20
today I don’t know if it finished in the
26:21
green but it showed some green at some
26:22
point today do you guys hear the new
26:25
tune okay wheat stocks to watch
26:39
[Music]
26:49
[Music]
26:59
[Music]
27:06
[Music]
27:33
[Music]
27:56
oh that’s my favorite
29:24
[Music]
29:41
that’s bill kid living legend right
29:45
there so that tune is epic that was epic
29:51
oh you made that yesterday do you guys
29:54
like that line to give the line of a
29:57
can’t trust spreading everywhere like
30:00
dandruff couldn’t be more perfect right
30:06
now Matt because it is spreading
30:07
everywhere like dandruff in the whole
30:08
sector man more like a spreading like
30:11
something worse than the end I don’t
30:13
even want to compare it right now to
30:14
anything okay let me get back to you
30:17
guys messages here
30:20
okay so globe on my plate says
30:23
class-action lawsuits have been filed
30:25
against CTS t as per the latest trending
30:29
news yeah and the crazy part is if it
30:31
keeps going lower then the amount that
30:34
people are losing is going to get bigger
30:36
that’s the scary part for can trust so
30:40
guys whoever is involved in can trust
30:44
bankers whoever is involved like you
30:46
guys better figure on a plan man like
30:49
this thing needs to turn around quick
30:51
can’t trust you guys need to do
30:53
something to turn this thing around
30:54
quick Matt or you’re going to a buck I
30:57
may be lower
30:59
like in quick times so like this is
31:04
scary stuff it’s a scary stuff it’s very
31:08
real it’s a real real real problem this
31:11
is a real problem
31:15
Alex Christie
31:17
Health Canada is investigating a second
31:20
operational plant TRS tea as you speak
31:23
rich hope nothing funny is found there
31:25
or the whole sector will be in so not
31:27
cool
31:28
oh man huh come on man let’s break a
31:33
guy’s creds all right we don’t need that
31:36
we don’t need that you know like oh yeah
31:39
they got another 10,000 kgs in this
31:42
place that they’re growing illegally Oh
31:43
God oh my goodness oh my god
31:52
globin globe on my plate says latest on
31:55
Bloomberg can’t trust could lose it spot
31:57
license amid a deepening sell-off oh my
32:03
god that is brutal like lose their pot
32:10
license really why you gotta go do that
32:14
geez
32:17
Gary Bissonnette says I feel for all
32:20
canopy owners down big – got in at 55 so
32:24
now I don’t drive yeah it’s brutal man
32:28
it’s brutal brutal Joe Namaste says hey
32:35
rich seems that Xena is close to a
32:38
52-week low I’m getting in yeah I mean
32:40
good luck this is the time to get in I
32:42
mean anything that’s around a 52-week
32:44
low have you been hunting it you’ve got
32:47
to be thinking about buying I’m thinking
32:48
about buying Xena I’m thinking about
32:49
buying 16,000 shares but if I can get it
32:52
lower I want to get it lower straight-up
32:54
I want to get it as low as I can get it
32:56
straight up so taking low boys whatever
33:03
you got to do I’ll get it for a buck
33:05
I’ll buy 16 thousand shares for 16 grand
33:07
a buck all day um ice the purge says I’m
33:15
okay with the Bears right now because
33:17
that just gave me opportunity to get
33:18
more money together to buy exactly
33:20
exactly it’s what I’ve been thinking ice
33:25
the purse
33:26
is what I could get in before yeah
33:29
exactly
33:30
Kathy saying you making me laugh hey we
33:33
just trying to have fun here
33:34
got a laugh in times like this right
33:36
what are you gonna do cry it’s not gonna
33:38
solve anything
33:42
Nitin Bajaj asks hi rich what do you
33:45
think the long-term for cannabis sector
33:47
as there are too many different players
33:49
do you think there will be
33:50
overproduction by next year more than
33:53
what they can sell thanks well right now
33:56
they have under production so yeah I
33:58
know technically there will be an
34:00
overproduction problem once everybody’s
34:02
at full capacity but it hasn’t happened
34:03
yet so I don’t see that being an issue
34:06
right now the problem is that private
34:09
sector is killing the public sector the
34:11
private sectors products better the
34:13
private sectors product is cheaper so
34:16
how is the public sector gonna deal with
34:17
that that’s the issue that’s a big issue
34:32
Lorenzo MS says so glad to see you live
34:35
rich all right my pleasure to be lad for
34:38
you guys travaux says your boy bumping
34:41
it hard getting it lit yeah man you got
34:45
him smoke him if you got some drink some
34:47
have fun mines Friday unless you’re
34:50
trading crypto or trading futures you
34:53
got the whole weekend this to chill
34:57
Yamini Lazio says I only have six stocks
35:00
I’m trying to break even hey les Fox is
35:03
better more stocks can become more
35:05
difficult but it is good sometimes that
35:07
I have a lot of stocks in my portfolio
35:08
because I like to have diversity I’m
35:11
learning that diversity is very
35:13
important especially when you have
35:14
situations like this in the cannabis
35:16
sector where the whole sectors read it’s
35:18
good to be diversified so two stocks
35:21
that I’m really thinking about buying
35:22
are Visa and MasterCard because I just
35:24
see more and more people getting into
35:25
debt so Visa MasterCard is gonna keep
35:27
going higher just like I predicted that
35:29
Amazon would hit 2000 and it did and
35:31
I’ve been talking about Amazon so does
35:33
that 400 and it’s a 500 percent now – mm
35:36
that’s crazy
35:41
travaux says you think it’s better they
35:43
sell the company to rivers or someone
35:45
legit just not to bomb all the hard work
35:48
done already yeah I mean I don’t know
35:51
why you’re gonna take away their license
35:52
that’s pretty severe I mean there are
35:57
legal drug dealers that your partners
35:59
are you gonna take away their license
36:01
stupid I don’t agree with it Pluto mine
36:04
says do you think the IPO and is going
36:07
to pop good oh yeah you’re talking about
36:10
Raqqa Phi yeah Robin Hood warrior says
36:15
dude my portfolio is 99% can trust 980
36:19
shares Oh whoo that’s tough bro
36:23
I don’t know what to say man it’s a
36:26
tough situation right now but even Bruce
36:28
Linton said that they would be fine so
36:29
Bruce Linton thinks that they’ll be fine
36:31
I’m pretty sure that today will be Scott
36:37
Norris says hi rich everyone glad I got
36:39
out of can trust yesterday though you
36:41
were holding can trust a lot of people
36:43
were it’s one of the biggest companies
36:45
out there our star seven seven seven
36:50
five five five says don’t trust can’t
36:52
trust it’s a dog Patrick McGee says
36:56
Aurora tube I can trust that would be
36:58
sweet our star 777 555 says some
37:03
companies go bus yeah but I mean for
37:06
growing cannabis that you given them a
37:08
license to grow but they grew it too
37:10
soon
37:10
everybody was growing too soon so what
37:13
man slap on my vine and move on don’t
37:15
make it such a big deal and kill the
37:17
whole sector like a bunch of fools
37:21
Alex Castillo says on a happy side
37:23
namaste is green 1.96 percent if market
37:27
were not red then use of eleven thousand
37:31
pharmacies which could provide new
37:32
customers for namaste the stock price
37:34
would fly yeah I mean namaste has a huge
37:37
nameste has huge upside we gotta watch
37:40
her carefully it’s been beat down like
37:42
crazy Scott they had their own issues
37:45
firing their CEO and look what happened
37:47
to them Scott Norris proudly thought I
37:51
got a bargain after the
37:53
said deal at 85 it’s now in the 50s
37:55
holding tight yeah anything under $1
37:58
right now is in no-man’s land so be very
38:00
careful anything in the cannabis sector
38:02
right now you have to be careful ice the
38:04
perch says I got Xena at 130 not worried
38:07
and I’m not going to keep on buying the
38:09
more it goes low Leo the landscaper says
38:13
vgw is three cents behind labs yeah
38:17
balance has been on fire labs had a huge
38:21
short position and they’re just doing
38:23
what they do they’re shorting it but
38:25
labs will be back I’m gonna be buying
38:27
more labs
38:28
Alex Castillo says imagine if each
38:31
pharmacy would bring north ten new
38:32
medical customers per month 120 million
38:35
yearly sales yeah that Musti has a huge
38:38
potential future they just got to get
38:40
everything their act together
38:42
I gotta get everything together fat nut
38:45
says Godin can trust at 5:03 second
38:48
buy-in at 352 and I’m just going to hold
38:50
waiting happy where I am depending on
38:53
the news next week man that’s a tough
38:57
want to be buying right now
38:58
Patrick McGee says when they crying I am
39:01
buying that’s the way to do it Scott
39:05
Norris says ice nice price on Xena oh
39:07
yeah I’m gonna be loading up on Xena
39:09
really really soon so I’m kind of happy
39:11
it’s low I just don’t want it to go
39:12
lower after I buy it so I want to wait
39:15
[Music]
39:19
Alice Castillo says fat nuts I have 600
39:22
TRS tea shares at 8:07
39:25
and bought a thousand shares of 5:30
39:27
holding firm whoa
39:30
that’s tough man you know a lot of
39:33
people are shorting it just to make
39:35
their money back right just letting you
39:37
guys know like it’s becoming like the
39:38
number one short play because you can
39:40
short anything over three bucks and it’s
39:41
over three bucks in Canada so it’s a big
39:44
short play sesemann says guys get oh
39:49
yeah I you know if you’re holding can
39:52
trust it’s tough to be careful Scott
39:56
says averaged 184 Xena myself eleven
39:59
thousand shares oh it’s gonna go way
40:00
higher than 180 buddy you’re doing good
40:02
there
40:05
Shelby ran its key says I’m feeling your
40:08
pain Scott I’m in at a dollar I mean
40:10
everybody can share war wounds here
40:12
Irish TV like we can all share war
40:15
wounds of the cannabis sector right now
40:18
ice the purge says I still buy from the
40:21
Weed Man cuz the taxes are too damn high
40:23
and he always got some good shit Isis
40:27
the purge says rich when it hits the
40:29
bottom I’m going to buy it because
40:31
that’s what it was thinking another
40:33
company is going to buy them out yeah
40:35
it’s just a matter of time but I don’t
40:37
think another company buys them out I
40:38
think that they resolve this and they
40:40
move on they’re a big company guys very
40:43
big company Leo the landscaper says I
40:46
buy weed around the corner 120 bucks an
40:49
ounce and good weed Oh buddy that’s good
40:54
that’s good I’m not even gonna say what
40:58
we get a four out here like 80 bucks an
41:02
ounce
41:02
fifty bucks an ounce if you’re buying
41:04
large amounts yeah it’s crazy
41:07
I used to purge says and I bought more
41:09
Xena at 112 today nice pickup kmac is
41:14
saying can’t trust ya that’s the new
41:16
name they’re gonna have to change their
41:17
name schism schism says putting up fake
41:26
walls to hide product how can they keep
41:28
their license because they’re drug
41:29
dealers guys they’re legal drug dealers
41:32
you gave them the license anyways so
41:34
they grew a little bit early give real
41:36
fine
41:37
let them keep growing they’re drug
41:40
dealers whatever they were illegal last
41:45
year now they’re legal slap on a fine
41:49
and move on is they’re hurting you that
41:52
they put up walls who cares we’re gonna
41:54
cry about the walls oh my god they put a
41:55
balls they’ve been putting up walls for
41:57
years man October 17th they started
42:01
taking them down they had a couple of
42:03
them still there like who do you like
42:05
say you think putting up fake walls is a
42:07
new thing
42:08
Health Canada
42:10
about fake walls this is Health Canada
42:13
they know all about the fake walls this
42:16
isn’t that big of a deal
42:19
Scott Norris says Oh ice USDollar still
42:22
great yes fat nut says I’ll grab Alex
42:27
Castellanos I’ll grab another 500 at to
42:30
us
42:31
what’s up Christopher Doyle how you
42:33
doing buddy
42:34
Alex Castillo says at phat nuts just
42:37
wait till they at least released the
42:39
13,000 kgs if they get burned big loss
42:42
could go down more be careful Leo the
42:46
landscaper says I’m buying more labs to
42:49
neros Siam says a cent lost the license
42:54
doing the same thing what’s the
42:55
difference between a cent and can’t
42:56
trust nothing but can’t trust is a much
43:04
bigger company there’s way more patients
43:08
so there’s actually a very big
43:10
difference between them and they’re much
43:13
farther along and previous to this they
43:16
had a very good reputation so now a big
43:21
laundry list of infractions are coming
43:23
out from 2015 so Health Canada has been
43:26
aware that these guys have been making
43:27
mistakes for a long time apparently they
43:29
have a history of it but I don’t see why
43:33
taking away licenses is the answer does
43:38
you’re pretty much putting them out of
43:39
business
43:45
Lorenzo chemists as I’ve been waiting to
43:48
buy see TST and have been watching it
43:51
for a while but now this happens not
43:53
sure if it’s a sign whoa yeah I wouldn’t
43:56
be touching it for a long time I see if
43:59
charge you says if Xena goes below $1
44:01
would still consider to buy even though
44:03
you hate touching stocks below $1 yeah
44:11
of course because
44:12
animus is gonna have a chance to be one
44:14
of the biggest in the whole world I mean
44:16
the reason why I like Xena best is
44:18
because I know for a fact they will
44:20
never do what can’t trust it they don’t
44:24
operate like that they run it really
44:26
tight
44:27
they don’t make those mistakes they
44:29
would rather go slow and that’s why I
44:31
Health Canada has actually that’s why
44:34
governments within Canada have actually
44:35
given them government grants they’ve
44:38
employed over 400 people and their plan
44:41
is to employ 2,500 people by the end of
44:43
this year so they’re creating jobs so I
44:47
know Zen abyss won’t have this issue
44:49
that’s one of the reasons why I like
44:51
that stock as a long-term player
44:57
Christopher Doyle says just joined the
45:00
show love these pot stocks going lower
45:02
let’s get them boys that’s our time to
45:04
load up guys Travis says don’t discount
45:10
trust they were still growing strong
45:13
cush and proper oils cgc was pushing
45:16
bush right now ACB and med relief in the
45:19
lead
45:20
interesting so you’ve been testing a lot
45:22
of the lp’s products it’s good to know
45:27
that ACB is in the lead our star seven
45:32
seven seven five five five says bi can’t
45:34
trust but only add a dollar to
45:36
seventy-five cents yeah I said I’ll buy
45:39
10,000 shares at a dollar I will because
45:42
I’m just a risky guy and I saw a gana
45:43
gram go to a dollar and I thought about
45:45
it and I didn’t and they went to ten
45:47
bucks
45:47
it took two years but shit ten grand if
45:50
that just sits in my account and turns
45:51
into 100 G’s I’m ok with that
45:53
I like those plays I’ll take a play like
45:56
that all day long
46:04
Scott Norris says the Sun will shine
46:07
after summer oh yeah maybe even sooner
46:11
Alex Castillo says yeah at a dollar it
46:14
would not I would not resist by five
46:16
thousand six thousand shares I’m gonna
46:18
buy 10,000 shares I’m telling you right
46:19
now I had a buck I’m gonna wait for it a
46:24
dope point of the view says stop the
46:27
bloody crying buy low sell high we went
46:29
through this in December oh yeah we go
46:31
through this over and over in the sector
46:34
Leo the landscaper says Wow 80 I wish
46:40
Scott Nora says rich recently started
46:43
taking high-quality CBD oil feel great
46:45
how’s my energy and focus yeah this
46:48
these oils take another spray I mean
46:52
this lasts me like months like 30 bucks
46:56
for a bottle like why not haven’t even
46:58
got into this one yet and it helps me
47:00
sleep so it’s good fat nuts
47:09
waste management at $117 I’ve been
47:12
riding the pony for about the last five
47:14
months a like waste management I know
47:16
the owner of the company small world
47:20
very very good guy Daniel are you doing
47:23
Danny if you’re watching mad respek bro
47:25
that man used to look at the Lamborghini
47:28
dealership and drive a garbage truck and
47:30
say one day I’m gonna own the garbage
47:33
company and I’m gonna have a Lambo now
47:35
he has like hundred Lambo
47:37
he’s balling out of control owner of
47:42
waste management ice the purge says
47:53
by when you don’t believe in so if Xena
47:56
goes to ten cents I’m still going to put
47:58
a shitload of money in it I’m a day
48:00
trader but I’m an investor I got
48:02
patients money any time is good money
48:05
yeah man I’m agree I’m a short-term
48:07
investor I’m a long-term investor I’m a
48:09
flipper of houses I just flip this house
48:11
flip properties flip stocks flip real
48:14
estate crypto currencies I rent real
48:16
estate I got my hands involved
48:18
everything all the time that’s just the
48:20
way I am I got my hands in something all
48:21
the time all the time just hustler just
48:26
hustle
48:27
Christopher Doyle says Health Canada is
48:29
the freaking sheet they will tell us
48:34
what they want us to know new bottoms
48:36
make people a lot of money attack this
48:39
bear market with some sense and then at
48:42
bottom have some nuts yeah
48:45
and buy straight up that’s what I’m
48:49
gonna be doing man
48:50
next week I’m buying I don’t care I’m
48:53
buying because I know it’s the middle of
48:55
July
48:56
it doesn’t really like get much lower
48:59
than that I mean middle of August okay
49:01
so I got a month so yeah I’ll be buying
49:05
a lot over the next month do you think
49:12
Pluto mine says do you think the IPO
49:14
sundial grow are going to pop good I
49:17
think it could but I was looking at
49:19
their revenues and their losses and they
49:21
weren’t that impressive to me so I’m not
49:23
gonna be buying it not right away
49:26
Scott Norris says hopefully Zena will
49:29
work in the u.s. though well they
49:31
already are because tilray is buying 30
49:32
million dollars worth of product from
49:34
him right until ray operates in the u.s.
49:36
so that’s their key to the u.s. Turay
49:45
our star seven seven seven five five
49:48
five says can’t trust add a dollar for
49:50
one percent of portfolio only as still
49:53
can go to zero yeah I don’t see can you
49:56
trust going to zero
50:00
boss four one six says down a lot this
50:02
week loading Xena
50:04
that’s the time to buy the bottom ice
50:11
the purge says rich I need some of your
50:13
strong CVD I work hard I do property
50:15
remodeling I need that good shit I got
50:17
the best stuff email me at rich TV live
50:20
at gmail.com we are distributing in
50:24
America right now we’ve got a location
50:26
in Phoenix Arizona and we are
50:27
distributing into Europe so if you guys
50:29
are in America or Europe we can
50:31
distribute to you we can’t do Canada yet
50:33
but if you want to get something from
50:35
Canada you can order from Aurora you can
50:37
order from Zen abyss so there’s a few
50:40
companies out there that are licensed to
50:42
sell oils Zen abyss and Aurora or two of
50:44
them our star says it’s all about risk
50:50
reward percentage of your portfolio risk
50:52
yeah absolutely
50:54
Lorenzo chemists as Green Grove brands
50:57
buying Moxie extracts is huge Moxie is
51:00
massive in Los Angeles Green Grove
51:01
brands is going to be enormous I’m
51:05
definitely looking at buying some green
51:07
growth brands Nene Nene tech L says the
51:11
dollar sounds good but what if they lose
51:14
their license yeah I mean let’s wait to
51:17
see I don’t think they lose their
51:19
license if they do they probably lose it
51:21
for a period of time I don’t see them
51:23
losing their full license so I don’t
51:27
know we’ll see I can’t speculate on that
51:29
until it happens I don’t want to
51:34
speculate that that’s what Health Canada
51:35
is gonna do I hope they don’t do that
51:37
because there’s patients that need their
51:38
72,000 patients they have they need
51:41
their medicine you’re gonna take away
51:43
their license that’s brutal Patrick
51:51
can trust will pull out of this and blow
51:54
up just take time keep a sharp eye I
51:56
agree I agree they’re gonna come back
51:58
just like Organa Graham everyone forgot
52:00
about Organa Graham’s issues with
52:01
pesticides
52:02
now even Bruce says he loves her gana
52:04
gram funny
52:05
they had pesticide issues at that point
52:08
nobody wanted to touch him do Angela saw
52:14
bro Andrew so Andrews been shorting can
52:19
trust Andrew tell them can’t just was
52:22
your first short and you shorted it
52:24
twice already and you made money twice
52:25
right can’t trust me hello hello hello
52:46
and you tell everyone how you started
53:05
yeah please share share your story share
53:07
your story Andrew says yo this is not
53:12
this is one of my favorite videos tell
53:14
the people how it is rich yo what’s up
53:16
drew Patrick Magee says rebel we’d love
53:20
it
53:20
Christopher Doyle says me too bro I mean
53:23
right when you say the resurrection is
53:25
here oh it’s comin bro it’s coming any
53:28
day
53:29
Andrew Ellington says I started shorting
53:31
for my first time ever and let me tell
53:33
you guys I am up lol can’t trust is the
53:36
best short for beginners from my phone
53:46
hello no yeah
53:56
yeah yeah are you ready okay I’ll see
53:59
you soon goodbye what yeah okay bye
54:07
alright guys I gotta go but listen can’t
54:12
trust I hope you guys get through this
54:16
if I was Health Canada I would slap him
54:19
a fine don’t burn the weed let them sell
54:23
the weed find them take a portion of
54:26
that money and give it to cannabis
54:28
research and cannabis education I gotta
54:30
run guys thank you for watching if
54:32
you’re not winning you’re not watching
54:33
this is your boy rich from rich to be
54:35
live the resurrection is near we are in
54:37
a bear market but I promise you the bull
54:40
market is coming you guys saw the
54:42
Running of the Bulls happened just a few
54:43
days ago the running of the bulls will
54:47
happen again the resurrection is near
54:49
we’ve had it before we will have it
54:52
again and it’s coming and it’s coming
54:54
soon okay guys I gotta run hoes blown up
55:02
thank you for being here guys it’s nice
55:04
to like if you have to smash the lights
55:05
have a great weekend I love you guys mo