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Thread: Marijuana Stocks

  1. #51
    Senior Member canuck's Avatar
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    Quote Originally Posted by Dealaddict View Post
    Any opinion on the big fall on these two days? Dropped more than 30% without particular negative news. I can only imagine it is some big investor taking profit, then it triggers people to sell to stop gain / loss. Like on the last day of Dec, there is a big sell off and all marijuana stock dropped 15% which triggered the circuit breaker. But I am surprised it doesn't trigger the circuit breaker this time?


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    Well, they also went up heavily in the past few months without anything overly bullish too. The sector rises and falls, uniformly.

    I wouldn't really call the US position on marijuana as positive news, it puts the industry at risk of being subjected to more political repercussions depending on how far the US pushes it.

    As for the stocks, people who invested are merely majority speculators seeking to turn a quick profit.

    I doubt heavily that anyone who bought in the past few months is a serious long.

    It may sound weird, but I've noticed an inverse correlation between TSX cannabis stocks and energy; when MJ is red, energy tends to be green and vice versa. As traditional TSX commodity stocks rise, such as gold miners and energy equities, I think the marijuana industry will see plenty of divestment as smart investors take profits and seek strong secure returns for 2018.

    The marijuana rally is way overdone. If you want to make money now, start shorting the ridiculous stocks that have signed no pharma contracts yet are valued at 100s of million or billions.
    it's never too late to be what you might have been.

  2. #52
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    Yes, I agreed that many people are just trying to speculate and take some quick profit. And it is very natural thinking to take profit from this high risk Marijuana stock and move to the more low risk stocks. I am debating if I should hold them for long term, because I always sell too early in the past. I think this will become like cigarettes, even though I hate it. But since I can't stop it, my initial thought is to gain money from it. Maybe then I can send my kids to a boarding school, who knows.


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  3. #53
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    I have seen in other boards where people that work in banks are claiming that there have been a huge influx of younger inexperienced investors opening up trading accounts. They think they are going to make 1000% profit in a week and as soon as the stocks drop they panic sell. This is causing prices to drop over and over.
    Most of these companies are also cashing in on their high market caps to raise additional funds and dilute through private placements and bought deals. I sold most of mine 2 weeks ago and bought back in this week. I probably should have waited another week as I think we are going to see red in the sector for another week before it levels off and starts it crazy gains as we close in on the summer.

  4. #54
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    I think those who expects 1000% profit invested in cryptocurrency. Marijuana stock only has several hundreds percent profit, no where compared to cryptocurrency


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