Anybody else here buying into Cannabis stocks?

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Messages 1 - 20 of total 33 in this topic << First  |  < Previous  |  Show All  |  Next >  |  Last >>
hobo_dan

Social climber
Minnesota
Topic Author's Original Post - Jan 31, 2019 - 01:30pm PT
Curious to hear what things are like in the land of the legalized?
Toker Villain

Big Wall climber
Toquerville, Utah
Jan 31, 2019 - 01:37pm PT
Depends what you mean,..
hobo_dan

Social climber
Minnesota
Topic Author's Reply - Jan 31, 2019 - 01:46pm PT
I started a position with CGC and MJ. The stocks are Canadian companies. Because of the Federal govt ruling tha marijuana is illegal there can not be any cannabis companies listed on the NYSE or Nasdaq. There are some outliers like IIPR- a REIT that specializes in Greenhouses that grow
weed. Canada approved the medical and recreational use in November. As did California. I'm curious if there is high demand or if it's just Meh?
Reilly

Mountain climber
The Other Monrovia- CA
Jan 31, 2019 - 01:51pm PT
A buddy tripled his money in one of those Hoser weed bins in a few weeks.
Paid for a nice cruise in Europe. LOL
Lorenzo

Trad climber
Portland Oregon
Jan 31, 2019 - 02:51pm PT
Hm... there’s a couple breweries in town where if you own stock you get a free pint a day at their tasting room.

I’ll have to check into this.
tradryan

Big Wall climber
San Diego
Jan 31, 2019 - 03:00pm PT
Man I wish. I keep finding out about them a little too late. CGC had that major boom right after CA recreational legalization and then I saw Jim Kramer named the second best earlier this week and that one spiked. Anyone know which one to buy next? You know, before everyone else knows? Feel free to post up!
Gerg

Trad climber
Calgary
Jan 31, 2019 - 03:03pm PT
sorry I dont know about the stocks part of your question, but it happened in October not November and is meh to some and a big ordeal for others i guess.
Long road ahead stopping the black market i presume from stories in the news; there is a canabis shortage also for the dispensaries that is to last a long time.
There are different rules in each Province so googling what they are is a good idea as the rules are different as to where its ok to smoke and where it is not.
hobo_dan

Social climber
Minnesota
Topic Author's Reply - Jan 31, 2019 - 03:15pm PT
I'm reading about it a lot and there is so much out there that the ETF seems like the best bet based on my limited knowledge. The symbol is MJ.
CGC has been gangbusters but right now the big hitter is CRON--caveat is that these are super volatile. I had TLRY go up 25 % one day and then down 20% the next!
Gerg

Trad climber
Calgary
Jan 31, 2019 - 03:32pm PT

https://www.pc.gc.ca/en/voyage-travel/securite-safety/cannabis
briham89

Big Wall climber
santa cruz, ca
Jan 31, 2019 - 03:44pm PT
CGC had that major boom right after CA recreational legalization and then I saw Jim Kramer named the second best earlier this week and that one spiked. Anyone know which one to buy next? You know, before everyone else knows? Feel free to post up!

Hmmmm this is sounding an awful lot like crypto speculation...
Don Paul

Social climber
Washington DC
Jan 31, 2019 - 03:52pm PT
I like reading about things that are on the fringe of being legal, but wouldn't invest myself. The business in Colorado is still dominated by sketchy drug dealers. One problem is that they can't put their money in banks, so vast amounts of cash change hands, and people are armed. No doubt it will be a normal business someday, but the fact is, marijuana is an export business in Colorado.
hobo_dan

Social climber
Minnesota
Topic Author's Reply - Jan 31, 2019 - 03:59pm PT
It is speculative for sure--the question that I'm basing off is what happens as it gets more mainstream?
New York is setting up legislation right now to legalize recreational and it is likely to pass as it has Dems in all three: Gov, Sen and house.

If the federal gov changes classification to the same as alcohol this also would have a large impact

Not sure I would compare it to BitCoin but I would love it if it took off like that!!
JLP

Social climber
The internet
Jan 31, 2019 - 03:59pm PT
"You know it's time to sell when shoeshine boys give you stock tips."

Colorado is weird with the pot growing thing.

Xcel lets you know if you are using more or less energy than your neighbors - so there was this ginormous spike in my neighborhood's electrical consumption over the summer. Figured out who it was. They just moved to Washington. Maybe a less crowded market up there.
Ricky D

Trad climber
Sierra Westside
Jan 31, 2019 - 04:07pm PT
Not stocks so far. I live in Santa Barbara County with some of the highest numbers of grow permits in the state. The formerly wine-centric properties in the canyons of the Santa Rita appellation are rapidly being converted to acres of hoop houses growing the devil lettuce. Last October smelled like Woodstock for Skunks.

Having once been an underground guerilla grower, back when a pound of primo Hydro brought you 4 to 5k at wholesale, I now see the mega-growers selling stock at 500 to 800 per lb. You need a HUDGE scale to make money at that price point.

Many of the industrial growers I encounter are wondering how to sustain their business given these suppressed prices for product. Because the shake out has not yet happened, I am holding off on investment for the foreseeable future.

I figure that it will take another 5 years at minimum for the industry to settle into the realm of wine, where you have your mass producer Gallo versions (Steve DeAngelo types) and your connoisseur low volume growers a la Babcock or Bien Naciedo.

If I were to put money into the game, I would look at industrial level producers of concentrates or edibles and not just flower makers.
Chaz

Trad climber
Straight Outta Crafton
Jan 31, 2019 - 04:14pm PT
We throw the stalks away.
Tarbuster

climber
right here, right now
Jan 31, 2019 - 04:33pm PT
I was thinking about buying into cannabis socks, because these boots were made for walkin' ... and I ain't talkin' Oaxacan.
skitch

Gym climber
Bend Or
Jan 31, 2019 - 04:49pm PT
I've been thinking that I should put a few thousand into Phillip Morris Int.
hobo_dan

Social climber
Minnesota
Topic Author's Reply - Jan 31, 2019 - 04:55pm PT
"You know it's time to sell when shoeshine boys give you stock tips."

I was thinking about that
Tarbuster

climber
right here, right now
Jan 31, 2019 - 05:10pm PT
It ain't the dyin' that hurts, it's the growin' old part encountered along the way.
I've heard feathering the nest helps make that ride more comfortable: good luck with your quest!
Ricky D

Trad climber
Sierra Westside
Jan 31, 2019 - 06:11pm PT
Until the entire production and consumption cycle is made legal at the Federal level so companies can deposit into banks and use checks to pay their bills, this remains a precarious business prone to criminal intrusion and shady accounting.

An extremely well funded grow-op in Carpinteria, CA has had no less than 5 attacks by LA Gangs looking to either grab product or cash. Well-heeled neighbors are freaking out and the sentiment of legalization is waning in this area.

In my Valley, at least 8 sizeable grows-ops were taken down during harvest season after the local Sheriff determined their "permits" were either non-existent or forged. Not good PR for a budding industry.

My former distributor tells me that because of the oppressive taxation on legal cannabis, that his Black Market business has surged over 40% - yes, serious people do use analytics no matter their product. In an nutshell, the State, County and Local taxation rates on "legal" products are so onerous that all Homie needs to do is undercut retail by 30% to pull business from the dispensaries and still be profitable despite the crash in wholesale rates.

This is a very speculative business in the US, subject to governmental whims and the very costly lunacy testing requirements of legal states. If you are intent on investing in the MMJ business, look to Canada for the time being as it at least has their version of Federal approval.


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