Friday, we discussed plant focused cannabis companies, and Rays belief that to thrive, companies must deliver a high-quality, consistent product.

A comment Ray made to your editor and Jonas Elmerraji at dinner Thursday evening sticks with us four days later.

The best cannabis companies in the recreational space will act like biotech companies. Theyll invest in research. Theyll have incredibly high standards, Ray said.

To wit, Ray couldnt stop talking about his meeting with executives from a Vancouver, B.C., Canada-based cannabis company.

This company has well-respected ex-biotech executives advising them. They have a science first approach. Canadas so far ahead of American cannabis already, this company could become the next Aurora or Canopy Growth.

Both those names, as you know, shot up this year. Rays newest target could do the same. More soon as his research develops

Pressing Ray for a takeaway before we parted at The Mirage Friday, Ray paused.

This isnt what if anymore. Cannabis is a tremendous benefit here in Nevada. In California next year too. It could also transform Canadas economy, he said. This is happening.

On the pick-and-shovels front, we can confirm Scotts Miracle-Gro (NYSE: SMG) is a good bet. We saw evidence of SMG products used in the cultivation of cannabis.

SMG stock over the last six months:

Were not suggesting legal cannabis in Nevada means a directly correlated boost for SMG.

But its certainly possible and a play worth watching.

Turning to the markets this morning

Market Rundown for Mon., November 20

Pre-market this morning, the S&P 500s flat at 2,575.

Oils down a few cents at $56.27. Gold goes for $1,291.

Bitcoins over $8,000 this morning at $8,139. The party continues.

Friday we mentioned Wal-Marts (NYSE: WMT) rip-roaring e-commerce numbers in the companys latest earnings report.

Jonas Elmerraji at dinner Thursday evening, after all the cannabis talk:

Amazon can never compete with the brick and mortar footprint Wal-Mart has. Wal-Mart becoming more nimble in e-commerce is a sure sign Amazon has real competition ahead. Would I be worried if I was Amazon? No. But Id be paying attention like never before.

Wal-Mart shares year-to-date.

Written off as down-market and doomed, Wal-Marts ready for war.

Talk with you again Wednesday.

For the Rundown,

Aaron Gentzler