Is the S&P 500 overvalued or cheap? That depends on what you think the "new normal" will be. In this episode we discuss how the economy may look very different post-COVID and how long it could take to recover:

The strong market rally - what are investors thinking?

3 reasons why the future normal could be very dissapointing

1) Record high unemployment - 16M+ new claims in the last 3 weeks (staggering)

2) Decreased consumer spending as confidence falls off a cliff

3) Longer term structural issues - what does "opening up" look like?

CANNABIS:

- Bad news for Harvest (HARV) and Ianthus (IAN)

- Good news on Illinois numbers ($188M USD for Q1 Sales)

- Aurora (ACB) 12:1 stock split and new ATM facility - what this means

- IIPR Short Report - more on this next episode