Weed kings: How the Tragically Hip became marijuana millionaires … – The Globe and Mail

Rob Baker, lead guitarist for the Tragically Hip, is chatting about the surging market for cannabis-company stocks.

It’s high dough – some might say too high. The short-term gains make things all the more interesting for Mr. Baker, king of the northern power chord, and now a stakeholder in the weed sector.

But he’s more focused on the long-term prospects for Canada’s new recreational cannabis industry, and two companies in particular: Newstrike Resources Ltd., a consumer-focused producer in which he and his band mates have a significant ownership stake, and CanniMed Therapeutics Inc., a medical-marijuana grower and distributor that has launched a friendly bid for Newstrike. He’s a firm supporter of the transaction, which is not yet a sure thing.

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Lately, weed stocks have soared to ear-popping heights as new investors have piled in.

“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

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