What happened

On Monday, marijuana stocks were on fire, but on Tuesday, it’s mostly smoke and ashes. As of 9:45 a.m. EST, shares of industry giant Canopy Growth are down 4.9%, while smaller Tilray has tumbled 15% and Aurora Cannabis is down 21.6%.

I suppose there are any number of theories for why this might be: worries that the Democrats will not, in fact, sweep the White House, House of Representatives, and U.S. Senate, ushering in a “green” new deal of an entirely different sort — or simply the law of gravity, and the knowledge that what goes up, must come down.

However, I prefer to think that whenever possible, investors respond to facts rather than theories –and the fact is that all three of these cannabis companies reported earnings yesterday.

And the fact also is that those earnings were not great…CLICK for complete article

The 2020 election saw proposals for sports betting pass in the three state ballots it was on. Louisiana, Maryland and South Dakota represent 4% of the U.S. adult population and will allow sports betting as early as 2021.

Here is a look at the companies that could benefit from the three additional states passing sports betting.

Penn National Gaming PENN 8.19%: In an October presentation, Penn National listed upcoming ballot initiatives as a growth plan.

The company has the option to acquire the Hollywood Casino Perryville in Maryland. Penn National also has five casinos in Louisiana.

Penn National saw success with its Barstool Sportsbook in Pennsylvania and is converting its physical sports betting properties to coincide with the Barstool brand name.

MGM Resorts International MGM 1.03%: The MGM National Harbor is one of six casinos open in Maryland. The physical casino could give MGM’s joint venture BetMGM an inside track to launch online sports betting in the state.

Caesars Entertainment CZR 4.47%: The Horseshoe Casino in downtown Baltimore is owned by Caesars. The casino is located in close proximity to the sports stadiums of the Baltimore Ravens and Baltimore Orioles.

Churchill Downs Inc CHDN 1.93%: The Ocean Downs casino in Maryland is owned by Churchill Downs. The Fair Grounds Race Course in Louisiana is another Churchill Downs property.

The company’s Bet America sports betting brand is available in New Jersey, Pennsylvania and Indiana. The legalization in these two states could help the company diversify from its live horse racing revenue…CLICK for complete article

Amidst Tesla’s (TSLA) meteoric rise, a sizable contingent of investors have become skeptical of its ability to live up to its market capitalization. They point to the company’s “ludicrous” valuation, increasing competition from established automakers, and concerns around cash management. If Tesla were solely an automaker or even an automaker with green energy production capabilities, these bearish investors’ claims may have some validity. But it is not. In fact, one of Tesla’s most significant assets – its vehicle data – is overlooked by nearly everyone, despite its incredibly immense potential.

Tesla is a world leader in car data, which can be monetized in myriad ways often neglected by market analysts

Tesla started collecting driving data, including data on location, speed and acceleration measures, steering, the surrounding driving environment (from cameras and ultrasonic sensors), and personal settings, in 2018. Since then, the company has collected over 3 billion miles of real-world driving data. To put the incredible scale of this in perspective, one would need to circle the Earth 378,891 times to travel 3 billion miles. Indeed, the scale of Tesla’s data-gathering operation is unmatched. Its closest competitor, Waymo, has only amassed 20 million miles, and other self-driving car companies are struggling to crack the 1 billion mark. George Paolini, a former EVP at SAP, has called it “the most effective crowd-sourced AI/ML training initiative around today.” Despite its commanding position, Tesla has yet to see significant financial benefits from this plethora of data…CLICK for complete article