I'm looking to invest in some cannabis stocks before they start to take off. What should I be looking in to?
I know $WEED and one other went live on the NYSE today. I'm not really big on equities, I'm an options trader. I prefer options, truthfully. Here's a few of what I have in my portfolio, as of right now. $13 call x10 contracts $AMD. expiration: 8/17 $82.5 call x10 contracts $PYPL. expiration: 6/17 $30.5 call x10 contracts $BOAC (Bank of America) expiration: 6/17
I knew this thread should be in this section and not news. I have MJ MSOS THCx (a lot of overlap with MJ) PLNHF HEXO Looking at curaleaf but I have it in a fund already. MJ actually pays a div to my surprise. I’m all buy/hold long term so not a trader. I must say that watching the hedge fund hogs get sandbagged on the game stuff is sweet. They will have a fresh victim next week so bleed them out.
My brother is the person who introduced me to the stock market and the only reason I have an interest in investing. I can't say that I've kept up with information about weed stocks but I know when I was working for him he said he had some Affria or whatever, and he was down 17 percent or something on it. He did note that he wasn't too optimistic about the future of them (investing in weed stocks in general). This is just my view of things, according to what I have heard.
It’s a gamble and the stocks have been all over the place so far. I expect we will see a pull back on this run too if the news settles. With the rumbles in Congress and actions in states like VA making news, it lends me some optimism for the bet.
Oh I see, right, you're doing some (fundamental?) analysis. My brother I think does that too. When I was working for him he would sometimes tell me that he was down ~5% (these are his attempts at advanced trading including day-trading) and sometimes he would tell me he was making a profit lately. But I saw him at LCBO one day and he said because of Ontario's lockdown he has chosen to take some time off, and he's been making more money day-trading than he was making while he was working as a Carpentry contractor. He wants to switch careers in about 15 years and day trade full time.
It’s been a good market for traders, even with the high valuations. I’ve looked at these weed stocks enough and I’m aware that they (a lot of them) are way over on value for what they are turning. I guess I’m in that cult mentality, like the Berkshire and Tesla folks that think the sector has a future. As I’ve mentioned before, I’m just buying in bits and holding, fully expecting to hang on for several years.
Nice roller coaster ride. It seems, other than the social media pump this week, that every time there is good pot stories in the news, like the elections, people run in and buy these stocks and dump them as the news dies down and they don’t instantly double.
Idk about any weed stocks that would be worthwhile to invest in but I will say as far as weed stocks are concerned please value principle over money first. What I mean is don't support companies that want to create a monopoly for themselves and destroy small weed shops or want to stop places from allowing homegrowing. Even if they're doing very good. There's way better stocks out there than any weed stock anyway.
I generally agree with this notion but as with any growing industry, we have to expect capitalist to come a running. I think the stoner culture is pretty good, and will need to be, to pick out and toss the bad fruit folks in the business.
Capitalism isn't a problem. Stupid people that can't see the bigger picture are the problem. And government intervention. Government shouldn't have the ability to stop homegrowing for example.
I’m totally with you, and the big(er) pot companies shouldn’t be able to influence the govts outlawing of home growing. I don’t think anybody should be able to complain about someone else’s garden.
you might want to take your cue from the original 49ers... the biggest winners in the gold rush were the guys selling shovels.
For sure. Money buys power universally throughout the world whether people pretend like they're different or not, it remains the same.
Trulieve, trading on OTC under TCNNF is my best investment so far. Excellent company with very strong fundamentals, trading below the market cap of similar companies. Otherwise split across MSOS and MJ. Also took a small position in ayr (or LHSIF before they got aquired).
I’m still holding my same list and adding when I can. We should be due a little jingle from MJ here soon, the div date is usually late March.
NY is close to voting so this should help some stocks tho I was hoping they would stay in this range for a bit. Curaleaf already has a little footprint in the area and i don’t know who else could get in there. Hexo?
I just started investing myself for this reason. I know the stocks are volatile but with federal legalization imminent in the next year or two I know it would be stupid not to invest at least a little bit in some Cannabis companies or companies that stand to gain value if its legalized. I know dick about stocks but, if analysts are saying to buy stocks I cant help but trust them a bit. So, I recently invested in 3 different "Pot stock's." I invested as follows: Intec Pharma NTEC Zynerba Pharmecuticals ZYNE 22nd Century Group XXII All of these according to analysts are supposed to at least double if not triple in value. I'm assuming this isn't taking into account legalization, so, I'm hoping they do even better lol. Anyways, I'm new here and this is my first post so...thanks for having me.