Marijuana and other nutty stock
 

A post earlier today got me thinking. Has anyone bought into the marijuana stock frenzy or any other crazy overvalued stocks? There seems to be a lot of speculative trading and interesting things happening in the market nowadays. I got a real kick out of Marc Cohodes on BNN yesterday concerning the real estate situation in Toronto.

http://www.bnn.ca/video/cohodes-stil...capital~981334

How big of a bubble can be blown? When do you leave the party and take your party favors?

I bought Canopy at 4 sold at 13.65. Trading at around 10.70 now, still way over priced.

I bought into Tweed for $2 a share....it got merged into what is now Canopy Growth Corp....I have 400 shares....am still in a holding pattern.I see a big rise when our idiot prime minister's government tables the legaliaztion agenda within 2 weeks.

FTH

I bought Shopify at $53, sold out on a stop at $87.50 only to see it jump to $96 a couple of days later and presently riding at $97.
This is for a stock with a P/E Ratio of -174.46 :angry3:

I still own Aurora though so my value investing doesn't make me crazy.:)
Hey if you're going to invest in pot it should be Alberta grown at least!

Valuation is not an easy thing. Speculation is everything.

Look at Tesla. Cant remember off the top of my head but they are not making profit and are valued at what 20 billion?

I think we do not have a valuation or a comparison for this market. People in the stock market always like to think they can predict the market, but all it is is a guess. Oil crash? Housing crash?

Dot com bubble not all crashed, amazon, google, ebay etc all came from there. Weed stocks will have winners and losers.

The reason why these stocks are not higher is because bankers have not been unleashed onto them yet. When they are legal I think values will skyrocket due to actual bank investment than correct/tumble and 2-5 players will be left.

I'm not convinced of a huge rise considering the announcement Sunday/Monday of this week only resulted in a 10% move. The market may already be saturated with the speculative buyers. Unless we see a move into these stocks by big time investors such as pension funds I really can't see this moving until there is substantial proof a profit will be made. Mergers and acquisitions may keep things steady, even boost prices but long term I have my doubts. We also have to consider that people will be able to grow 4 pot plants at home, packaging and marketing regulations may be an issue, amongst other problems.

I work with a guy that has $300,000 on Canopy. He bought in at around $12.00. I see the stress in his face. For his sake I hope it skyrockets and he pulls out when the going is good.

I believe there will be a winner in Mary Jane stocks. But I'm not going to bet a lot on one of them. Till they start turning a profit who knows who the winner will be.

Bought 250000 shares of MMJ at 3 cents, it's at 5 cents. I'm up $4000+. It hit 6.5 cents a few weeks ago. Holding on just to see what could happen. Also have ACB and BLO (breathalyzer company)

Ever look at scandium companies such as SCY ? Interesting area.

Negative. I had never heard of scandium until now!

i know nothing
 

Still waiting for another unit that posted on this forum to indicate or resolve what they were involved in.?


This poster did have information but was waiting on a resolution?

It doesn't matter if this unit will post again,but they were confident in what resolution was to be,and promised to share?

As always be balanced.:)

Yup.
 

I've got 2600 shares of aurora can corp it's around 1.90 if it gets legalized should go up to 5. Safer bet since it a medical checkup company but maybe not as as profitable as other lower priced stocks if the legalization happens.
I just want to get some of my income sharing, child tax benefit and kids activity and sports right off money back. This tax season just hurts.

ACB was at $2.58 today's close. See you just made $1768.00 :)

We used to have a very different definition for unit when I was young than you do. Or did we? :)

Bam!
 

My tax seasons getting better already.

Hope you have that in a TFSA.

Do you know me?
 

You bet I do.

Bought 10k worth of acb (aurora) @ .47. Pretty happy so far.

Probably not.
 

Probably not.

Nice. I was a little later to the party but not to late.
Hopefully in a year or so you'll be rollin a 100k.
Maker while the sun shines.

Weed like every other grown commodity isn't likely to be a large margin item once its legalized and full competition sets in. I saw something a while back about the same phenomena happening in Colorado after legalization. Basically growers grew themselves into the ground. It would not be hard to supply the Canadian market even if only one province was growing. Demand is not THAT high...An ounce or two could keep the average user stocked for months.

Another thing to keep in mind is that black market dope is still going to get grown in houses and in the bush. Old habits die hard. I suspect that this source will still satisfy much of the demand in already established markets and with non-conformist users. Add to that the potential that they may allow growing of small personal amounts and I would not be betting on MJ stocks. I'm sure one or two companies will do well but good luck picking a winner. May do better hitting the craps table.

From reddit

https://docs.google.com/spreadsheets...3zQ/edit#gid=0

A list of Canadian weed stocks.

:bad_boys_20: lulu lemon got pounded today can make a 10-20%, if your stocks of antacids last til november:sHa_shakeshout::sHa_shakeshout:

I'm interested n how CVE:THCX is going to do, among the ones I know in the medical marijuana industry this is the next big one.

All I can say for your friend is his timing stinks.Had he got in at $3-5 a share when Canopy was going through that huge surge and got out at $12 he would be lovin it....right now he is under water and may lose his nerve when it hits $12 again.

FTH

Legal skunk weed :bad_boys_20: I'm going to eat a brick of hash like a chocolate bar when it's legal to do so :)

Sorry for the derail...just sayin.

That would make for a great Facebook live or Youtube video. Maybe you could have Red Bull sponsor you. Let us know when the stupidity begins.

:126fs2277341:

HMMJ - the first North American Weed ETF.

When it is legalized it will be legal to grow your own for recreational use. The companies will take a hit then.