Author Topic: Cannabis  (Read 1662 times)

babybug

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Cannabis
« on: October 11, 2018, 05:12:45 PM »
Please someone tell me I'm not the only one in this sector. I put in 4k in Jan and lost 40% till now, but suddenly I'm up 60% after the legalization in Cali and Canada. Ok, I feel a bit braggy ... But are there other mustachians doing weed?





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appleshampooid

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Re: Cannabis
« Reply #1 on: October 11, 2018, 05:35:50 PM »
Please someone tell me I'm not the only one in this sector. I put in 4k in Jan and lost 40% till now, but suddenly I'm up 60% after the legalization in Cali and Canada. Ok, I feel a bit braggy ... But are there other mustachians doing weed?





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I traded in weed micro cap (penny) stocks several years ago, right when WA and CO were legalizing. I doubled my $10k investment and cashed out other than a few stragglers that I kept (only about $230 worth right now).

At the end of the day I counted my good fortune, but realized it wasn't for me. A lot of the companies I invested in ended up being scams, pump 'n' dumps without any actual products (see MDBX - MedBox, now Notis Global Inc.). I even made money on some of those during the irrational run-ups, but what I decided is that if I was going to play that game, I owed it to myself to do more research. Which I didn't want to do, hah.

Now I just index.

I do believe great fortunes will be made in legal weed, but mostly by the actual business owners. JMHO.

babybug

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Re: Cannabis
« Reply #2 on: October 11, 2018, 06:30:59 PM »
Thanks for this. I think I'll set a time frame (1year) for a 1/2 exit then I'll feel ok leaving the rest to do as it will.

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OurTown

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Re: Cannabis
« Reply #3 on: October 12, 2018, 07:11:49 AM »
I sold at $4.20

trollwithamustache

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Re: Cannabis
« Reply #4 on: October 12, 2018, 08:12:06 AM »
with this volatile stuff, you are only *actually* up when you sell.   

Blueberries

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Re: Cannabis
« Reply #5 on: October 12, 2018, 02:42:54 PM »
Yes, but I've taken some profits on the way up.  The volatility on what I own is contained and given that I've taken some profits, I'll ride what I own to another profit or break even.

Edited to add - I'm not purchasing penny pot stocks and wouldn't recommend it.
« Last Edit: October 13, 2018, 02:02:03 PM by Blueberries »

Dabnasty

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Re: Cannabis
« Reply #6 on: October 12, 2018, 02:56:57 PM »
It certainly stands to reason that some of these companies will grow as more areas legalize it but as with all things, that's already been taken into account. In fact I suspect it's been over accounted for judging by the number of people I've talked to with zero investing knowledge who are buying pot stocks. Seems like anyone who smokes and some who don't are jumping on the bandwagon.
« Last Edit: October 15, 2018, 02:33:39 PM by Dabnasty »

effigy98

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Re: Cannabis
« Reply #7 on: October 12, 2018, 03:41:03 PM »
Just the new place the bitcoin speculation went to. Remember to take profits all the way up, because it will crash.

Steeze

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Re: Cannabis
« Reply #8 on: October 12, 2018, 03:48:23 PM »
My co workers all have weed stocks.. not one of them low what a P/E ratio is.

ILikeDividends

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Re: Cannabis
« Reply #9 on: October 12, 2018, 04:30:24 PM »
But are there other mustachians doing weed?
Yes.  But I'm not investing in it.

From an investment point of view, I just don't see why investing in pot stocks should be any more exciting than investing in lettuce growers, beer, or wine makers.

It's just another agriculture business after all.  Put seeds in the ground. Water them regularly. Wait.  Pick, package, and sell.  Yawn.

Once it becomes legal in the US, at a federal level, it becomes just another commodity that anyone anywhere can grow for their own consumption, or sell to a market.

For stock-pickers or traders, yeah, I can see the appeal.  But I am neither of those, so I'll own pot stocks when (if) they make it into the S&P 500 index.

Likewise, I'll own BitCoin once the IRS starts collecting taxes denominated in BitCoin, but not before.
« Last Edit: October 12, 2018, 05:01:00 PM by ILikeDividends »

babybug

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Re: Cannabis
« Reply #10 on: October 12, 2018, 05:27:09 PM »
I sold at $4.20


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smallstache

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Re: Cannabis
« Reply #11 on: October 12, 2018, 08:59:06 PM »
I do believe great fortunes will be made in legal weed, but mostly by the actual business owners. JMHO.

What are shareholders again, if they are not "actual business owners"?

trollwithamustache

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Re: Cannabis
« Reply #12 on: October 13, 2018, 06:51:27 AM »
I do believe great fortunes will be made in legal weed, but mostly by the actual business owners. JMHO.

What are shareholders again, if they are not "actual business owners"?

I believe the point is the people who build up the business and sell it to the shareholders at a frothy IPO will do quite well. The bagholders, er shareholders, only time will tell.

Chrissy

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Re: Cannabis
« Reply #13 on: October 13, 2018, 12:58:59 PM »
Yes.  We have a little play money, and I bought a few shares of HMLSF and EMHTF.  I'm down on Emerald, but up on Horizons.  I plan to take the profits as they come (IF they come).

babybug

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Re: Cannabis
« Reply #14 on: October 16, 2018, 12:42:33 PM »
Ok, I've had PURA since last December. It's up 200+ %. 

I know I should wait for the one year mark to sell for long term cap gains, but I don't have that stomach for the rollercoaster.

I'm putting a limit order to sell asap. I know for sure it's a bubble.

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WranglerBowman

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Re: Cannabis
« Reply #15 on: October 17, 2018, 10:15:39 AM »
I threw $500 into Aphria for $4.63 about 2 years ago.  It's been a wild ride and I really should sell...

babybug

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Re: Cannabis
« Reply #16 on: October 17, 2018, 08:37:55 PM »
I threw $500 into Aphria for $4.63 about 2 years ago.  It's been a wild ride and I really should sell...
I'm in your shoes ... for such small amounts, sure you could sell for +400% or gamble for the sky ... if it goes to 0, well it's the same adrenaline rush as a weekend splash for the same cost... or is it?

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Blueberries

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Re: Cannabis
« Reply #17 on: October 18, 2018, 05:38:03 AM »
I threw $500 into Aphria for $4.63 about 2 years ago.  It's been a wild ride and I really should sell...

I almost never trade pink sheets, but why not take profits on half your position?  If it goes up, you'll make more, but if it goes down, you've locked in some gains.   You will almost never catch the absolute top.

WranglerBowman

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Re: Cannabis
« Reply #18 on: October 18, 2018, 12:23:05 PM »
I threw $500 into Aphria for $4.63 about 2 years ago.  It's been a wild ride and I really should sell...

I almost never trade pink sheets, but why not take profits on half your position?  If it goes up, you'll make more, but if it goes down, you've locked in some gains.   You will almost never catch the absolute top.

You're absolutely right the logical thing to do is sell some...and I'm going to.  I keep telling myself not to get greedy when things go well, and I need to start following my own advice.  I'll probably kick myself later when it goes up another 300% because that could have been that much more...but I also may have kicked myself for losing it all when I was up a lot...  Selling half!

runbikerun

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Re: Cannabis
« Reply #19 on: October 20, 2018, 07:39:35 AM »
I was just thinking a few days ago that there had been a pleasant lack of bitcoin boosterism on the forum for the last two or three months.