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Cannabis / MJ Stocks

Old 07-26-2018, 08:30 AM
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Default Cannabis / MJ Stocks

Wondering what your opinions are on specific entities or funds. Seems like a market that is going to expand quite a bit and has some potential huge upside if the feds change their stance in the future.
Old 07-26-2018, 08:39 AM
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Canopy Growth Group CGC has the most capacity, exportation to Eu and Aus and being the first cannabis stock on the NYSE. They are "branding" strains and creating intellectual property based on the Canadian govt laws. They are VERY well poised to take advantage of the switch to rec in Canada. I have seen their facilities and know their technology is top notch. Look at ACBFF Auora Cannabis and APH Aphria Inc as well.
Old 07-26-2018, 08:44 AM
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I would think a corresponding rise in Taco Bell stock will also result from a change in policy.
Old 07-26-2018, 08:59 AM
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I wanted to buy Canadian pot ETF but couldn't thru vanguard so bought the US pot ETF ,MJ.

It's down 20%.
Old 07-26-2018, 09:11 AM
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Its a crapshoot right now.. I was buying CGC in the $15 range last year.. sold off in low $30s and its been trading below $30 for a while.. They're all down right now
Old 07-26-2018, 09:53 AM
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I guess I should clarify I am not considering only recreational (although I definitely am) but also pharma with medical products from cannabis. GWPH and ZGNX are a couple. GWPH's FDA approval of Epidioldex is interesting and I wouldn't be surprised to see more conditions added or off-label use. Estimate treatment cost is 30k/yr.
Old 07-26-2018, 10:45 AM
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They had a nice run last year. Most got crushed. I took some money off table but left to much invested that has cratered. Illegal and legal pot market is seriously deflated right now.
Old 07-26-2018, 10:48 AM
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Originally Posted by bjm9818 View Post
They had a nice run last year. Most got crushed. I took some money off table but left to much invested that has cratered. Illegal and legal pot market is seriously deflated right now.
Would that mean your position is that it is overvalued, or that it's bubble has burst?
Old 07-26-2018, 10:59 AM
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Cbd oils are becoming a main stream use.again wish I had bought bitcoin @50 cents ea. Just sayin
Old 07-26-2018, 11:48 AM
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One problem is a big oversupply in marijuana in California, etc. still a lot of regulatory issues, like restrictions in newest states with medical MJ. This would be a long-term high-risk play.
Old 07-26-2018, 11:56 AM
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I have been watching CGC for a while, it has been going down for the last month. If it drops to $24 or less I may jump in.
Old 07-26-2018, 12:12 PM
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I've bought and sold GWPH many times, and made money every time. I own some now, and am in profit territory, but I'm going to hold it for a while and see what happens (I've got a sell order in if it goes back up to $165). I think it's a legitimate company with a lot of upside potential, but it's like any pharmaceutical company - its value is based a lot on the promise of drugs still in the pipeline. If those drugs don't pan out, it's going to drop significantly. Until the market matures, I think most of the marijuana stocks will remain high risk. But, with high risk, comes the potential for high reward.
Old 07-26-2018, 01:57 PM
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Originally Posted by lps View Post
Until the market matures, I think most of the marijuana stocks will remain high risk. But, with high risk, comes the potential for high reward.
That is the allure. Get in while it's young.

Originally Posted by richinct View Post
I have been watching CGC for a while, it has been going down for the last month. If it drops to $24 or less I may jump in.
I am eyeing that range as well.

Originally Posted by Restrain View Post
This would be a long-term high-risk play.
​​​​​​​Agreed.
Old 07-26-2018, 04:31 PM
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I've been buying some.

One dime bag at a time
Old 07-26-2018, 04:55 PM
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GWPH is the granddaddy with Canopy second. I have GWPH and MJ. MJ is off about 7% for me and GWPH is up about 25%. I believe Canopy is going to partner soon with some main stream beverage makers. This stock will soon IPO and may be a good candidate https://www.prnewswire.com/news-rele...300524642.html.

I wonder if rec will exceed pharma in the weed biz. My 65 year old neighbor who has leg pain recently told my wife that CBDs have made a huge difference in her life.
Old 07-26-2018, 06:13 PM
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I believe it will be the next tobacco mixed with pharma. It may take a decade or longer, but that's the direction things seem to be going.
Old 07-26-2018, 07:18 PM
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Anybody can grow a weed, there's no 'cornering' the supply. I'd expect it may go down like tobacco all the money made in distribution. Do you know that tobacco farmers use to be paid for not growing it?

Another problem is the potency. Nobody needs to buy an ounce anymore. A little bit goes a long way. So they can't be making it up on volume. In Canada people are asking Who's going to smoke all this weed?

And finally these are almost all pink sheet stocks which means extreme buyer beware
Old 07-26-2018, 07:30 PM
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Originally Posted by Re-Bait View Post
Anybody can grow a weed, there's no 'cornering' the supply. I'd expect it may go down like tobacco all the money made in distribution. Do you know that tobacco farmers use to be paid for not growing it?

Another problem is the potency. Nobody needs to buy an ounce anymore. A little bit goes a long way. So they can't be making it up on volume. In Canada people are asking Who's going to smoke all this weed?

And finally these are almost all pink sheet stocks which means extreme buyer beware
correct. Price per pound is plummeting, what was 2k eighteen months ago is now $800. BUT as recreational use becomes more mainstream, a lot more people will start smoking and purchasing. I'm shocked how commonplace it has become, even just as a topic of conversation.

My very proper very WASPy 65 YO mother tried a gummy bear on a ski trip in Colorado this winter!

I'm considering buying dirt in a rec legal state actually as my way to get in on the profit. Massachusetts is littered with old defunct mill towns, there is talk that legalization could revitalize these communities.
Old 07-26-2018, 07:43 PM
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Originally Posted by Re-Bait View Post
Anybody can grow a weed, there's no 'cornering' the supply. I'd expect it may go down like tobacco all the money made in distribution. Do you know that tobacco farmers use to be paid for not growing it?

Another problem is the potency. Nobody needs to buy an ounce anymore. A little bit goes a long way. So they can't be making it up on volume. In Canada people are asking Who's going to smoke all this weed?

And finally these are almost all pink sheet stocks which means extreme buyer beware
and they will regulate and tax stamp it. Price will be affordable so people will be too lazy to DIY just like beer.
Old 07-26-2018, 07:48 PM
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I own 2 stocks: MJNA which has done nothing since I bought it. I bought CGC and it's dropped by almost $5/share since I bought it. I thought CGC would be a great buy so I'm just hoping that it takes off on the near future.

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