GWPH

[paulbraithwaite]

In just three weeks time GWP,L will be no more (2 December). It is de-listing from the UK AIM market.

About 80% of GW Pharmaceutical's stock is helds in the USA on the NASDAQ market as ADRs. This month, conversion of UK shares is being offered free at a rate of one ADR for 12 UK shares. After some argy-bargy most (but not by all eg Hargreaves L), brokers have agreed to hold the replacement dollar GWPH ADRs in existing SIPPs.

The US share price both immediately before and after the US election has been buoyant - currently circa $129. This, is probably down to the US investors' view that the votes on 8 Nov in key US States to legalise pot has to make GW Pharma a more attractive takeover prospect.

The best informed BB on GW has for years been ADVFN

SP quote at: http://finance.yahoo.com/quote/GWPH?ltr=1

Declaration: I have held GWP shares since its original EIS offer in the year 2000.

[Lootman]

Thanks, I am a holder and wasn't aware of this impending corporate action so I am grateful for the heads up. I don't want to hold US securities in the account where I have GWPH, so I will sell out the position. As you say, it's done very nicely and I have it in a tax-sheltered account, so no CGT issues.

It's also sad to lose an AIM share that qualifies for IHT relief. But no hard feelings - it's been a fun ride.

[Lootman]

Perhaps for only the one other Lemon who has talked here about this (Nasdaq-listed) UK cannabis share, it is up nearly 50% on the day because of an agreed takeover offer:

https://markets.businessinsider.com/new ... 1030038683

[PinkDalek]

Would that be a (legal) high?

[CryptoPlankton]

Would that be a (legal) high?

It certainly appears you would now get less bhang for your buck than ever before...

[kempiejon]

I hold the north american pot stock Canopy Growth which has on been on a bit of a tear recently as have a couple of others in the sector. I thought the WEED bubble was last year. Do readers think Biden will let legislation pick up?

[Lootman]

I hold the north american pot stock Canopy Growth which has on been on a bit of a tear recently as have a couple of others in the sector. I thought the WEED bubble was last year. Do readers think Biden will let legislation pick up?

Bear in mind that the Reddit crowd are currently targeting cannabis stocks so it is a bit like the wild west in that area right now.

Also note that beer distribution giant Constellation Brands has a stake in Canopy.

There may be an argument that cannabis is best invested in indirectly, via something like Constellation, or Jazz Pharmaceuticals which is the bidder for GW Pharma here.

[kempiejon]

Bear in mind that the Reddit crowd are currently targeting cannabis stocks so it is a bit like the wild west in that area right now.

Ah I'd missed that detail.