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Cannabis Stocks - The next Bull Market?
7 years ago in #canada by cryptoindex (-10)(1)
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@cryptoindex... good to see you are looking at the cannabis sector, post resteemed.
I have been following the cannabis sector for over 4 years and am the editor at http://www.investinmj.com. I just wrote a blog post for Steemit about the cannabis stocks rising 200% in the last few months and my thoughts on the sector.
North American Cannabis Stocks Rise 200% In Last 2 Months. How You Can Profit From Legalization.
In general, yes they are overvalued and the market caps are not justified based on the earnings, but everyone is forward looking towards the recreational marijuana market this summer, and the bull market could continue well into the fall. Consider buying the dips and corrections and then selling later this summer.
Very solid post!
I actually wanted to throw my opinion into the mix. Cannabis is probably one of the best stocks to put excess money into right now. Everyone loves pot and people who say the opposite are simply not telling the truth. Cannabis is generating so much money for the US and it is gonna be hard for the government to not legalize it.
When marijuana is legal that stock will shoot way up, in my opinion.
I've been saying this! Dumbo Jeff Sessions wants to go against the American current and keep it illegal. This is a cash crop and when all 50 states have this legal I suspect billions in tax revenue, and easily. Nevada already is expected 120 million over the next two years alone.
The US investment opportunities in the cannabis space does come with some risk. As we saw last week with Jeff Session's announcement, the US stocks sold off, so did the Cnd stocks... the better publicly traded companies recovered somewhat. I do think buying these dips and corrections is still a good investment, eventually they will rise and more so when the US federal gov't legalizes it.
There are just too many jokes like this haha! I don't know much about these markets but it's just as interesting sitting at the back seat, enjoying it with a box of popcorn. Solid post though. Keep it coming :) @cryptoindex
Know anything about the cryptocurrency pot coins? If that's what you're talking about I don't really consider them stocks.
I think this will continue to be a growing sector for both countries, but Canada has a big head start right now due to federal legalization. Legalization at the federal level in the U.S. is virtually inevitable (IMO), but who knows how long it will take to follow through with that.
Canadian cannabis companies have a major opportunity to establish themselves before US companies get the chance. You see this happening already with Canadian cannabis producers legitimately supplying international markets already: https://steemit.com/cannabis/@olyup/alberta-serving-germany-s-mmj-market
I've been getting ads on Instagram etc. about cannabis stocks. Hmm weird...