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hobo_dan
Social climber
Minnesota
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Topic Author's Original Post - Jan 31, 2019 - 01:30pm PT
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Curious to hear what things are like in the land of the legalized?
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Toker Villain
Big Wall climber
Toquerville, Utah
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Jan 31, 2019 - 01:37pm PT
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Depends what you mean,..
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hobo_dan
Social climber
Minnesota
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Topic Author's Reply - Jan 31, 2019 - 01:46pm PT
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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?
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Reilly
Mountain climber
The Other Monrovia- CA
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Jan 31, 2019 - 01:51pm PT
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A buddy tripled his money in one of those Hoser weed bins in a few weeks.
Paid for a nice cruise in Europe. LOL
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Lorenzo
Trad climber
Portland Oregon
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Jan 31, 2019 - 02:51pm PT
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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.
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tradryan
Big Wall climber
San Diego
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Jan 31, 2019 - 03:00pm PT
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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!
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Gerg
Trad climber
Calgary
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Jan 31, 2019 - 03:03pm PT
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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.
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hobo_dan
Social climber
Minnesota
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Topic Author's Reply - Jan 31, 2019 - 03:15pm PT
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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!
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briham89
Big Wall climber
santa cruz, ca
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Jan 31, 2019 - 03:44pm PT
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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...
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Don Paul
Social climber
Washington DC
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Jan 31, 2019 - 03:52pm PT
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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.
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hobo_dan
Social climber
Minnesota
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Topic Author's Reply - Jan 31, 2019 - 03:59pm PT
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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!!
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JLP
Social climber
The internet
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Jan 31, 2019 - 03:59pm PT
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"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.
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Ricky D
Trad climber
Sierra Westside
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Jan 31, 2019 - 04:07pm PT
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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.
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Chaz
Trad climber
Straight Outta Crafton
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Jan 31, 2019 - 04:14pm PT
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We throw the stalks away.
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Tarbuster
climber
right here, right now
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Jan 31, 2019 - 04:33pm PT
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I was thinking about buying into cannabis socks, because these boots were made for walkin' ... and I ain't talkin' Oaxacan.
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skitch
Gym climber
Bend Or
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Jan 31, 2019 - 04:49pm PT
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I've been thinking that I should put a few thousand into Phillip Morris Int.
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hobo_dan
Social climber
Minnesota
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Topic Author's Reply - Jan 31, 2019 - 04:55pm PT
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"You know it's time to sell when shoeshine boys give you stock tips."
I was thinking about that
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Tarbuster
climber
right here, right now
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Jan 31, 2019 - 05:10pm PT
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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!
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Ricky D
Trad climber
Sierra Westside
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Jan 31, 2019 - 06:11pm PT
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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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hobo_dan
Social climber
Minnesota
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Topic Author's Reply - Jan 31, 2019 - 06:20pm PT
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Thanks Ricky--Right now all of the investing is in Canadian. The U.S. market is like some shiny penny in the future.
I wonder how long it took the Alcohol industry to even itself out? The high tax thing is what brings the politicians in- forgettingt hat the people being taxed are the people they're supposed to serve. Go figure.
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perswig
climber
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Jan 31, 2019 - 06:43pm PT
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Anybody else here buying into Cannabis stocks?
What, and give up my bath salts futures?
Nope, I'm holding.
Thanks.
Dale
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hobo_dan
Social climber
Minnesota
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Topic Author's Reply - Feb 1, 2019 - 06:41am PT
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With total respect for the Peter Principle --I decided to unload my individual positions and just hang onto the ETF. I don't hav the resources to pick up on the next hot thing. That said, if you see a guy on the street wearing a barrel and begging for work- stop by and say Hello and ask how the Shoe shine business is going.
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Caveman
climber
Cumberland Plateau
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US should stay out of the drug business.
Psilocybin is a schedule 1 drug while fentanyl is schedule 2.
Good example of how whack US drug laws are.
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drunkboater
Trad climber
Whitefish
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I started investing in October and am up 63%. I'm only invested in Canadian companies because I use Robbinhood, and can only buy off the NYSE. If you use a real broker you can buy into companies that are operating in america from the Toronto exchange.
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Kalimon
Social climber
Ridgway, CO
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Until you can take your pot money proceeds and deposit that cash in a ligit bank account, you are speculating in a gray market.
DMT nails it . . . stocks are risky enough as it is, investing in an industry that does not have access to the banking system is probably not a great idea.
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Reilly
Mountain climber
The Other Monrovia- CA
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Investing more than 5% of your net worth in any one thing is a bad idea.
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Mungeclimber
Trad climber
Nothing creative to say
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Uh, why buy the weed biz when you make higher margins on fertilizer, irrigation systems or stocks that support the industry?
Drugs are bad, mmmmkay. Lol
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mouse from merced
Trad climber
The finger of fate, my friends, is fickle.
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All this high-falutin' investment talk is makin' my head spin like I just smoked a "Czar Bomba" pre-rolled splif in a closet with the door shut.
You guys do the investin' and I'll do the ingestin', mmmkay?
Many drugs are not mmmkay, but weed ain't one.
Psilocybin is not one, either, but you go your way and I'll go mine.
😎
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Don Paul
Social climber
Washington DC
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One town in Colorado that's really seen a boom from MJ is Trinidad. Trinidad is the last stop on the way to Texas, which has the largest population of any place near Colorado. It's unlikely anyone from Denver, or on a ski vacation to CO would go there to buy weed. Those pot shops are for Texans.
There is also a belief, right or wrong, that law enforcement is no longer enforcing marijuana laws at all. It seems safe for people to grow, lets say 30-50 plants in their garage in Boulder or Ned, and just sell to a few friends. If they got busted they could confuse the police with medical cards and say they're caregivers with a legal number of plants. If you cross the line into Wyoming they have signs saying not to bring mj up there, but practically no one lives in Wyoming, Kansas, etc. and not a lot of cops. It's a losing battle for those states and they know it. I expect 5-10 more years of turmoil still to come. I doubt you would get into trouble buying these stocks, but the people you're investing in aren't very trustworthy.
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Caveman
climber
Cumberland Plateau
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Feb 19, 2019 - 08:05am PT
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"It was officially launched in 1996, which makes the local cannabis medical program one of the oldest in the world"
https://www.medicaldaily.com/brief-history-medical-cannabis-ancient-anesthesia-modern-dispensary-370344
"2737 B.C. According to Chinese legend, Emperor Shen Neng was one of the first major leaders in the ancient world to officially prescribe marijuana tea to treat various illnesses — including gout, rheumatism, malaria, and poor memory, according to Understanding Marijuana: A New Look at the Scientific Evidence.
2000-1400 B.C. Compared to the Western world and even other parts of Asia like China and Japan, India had always remained closely tied to cannabis use — medicinally, religiously, recreationally, and spiritually."
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Inner City
Trad climber
Portland, OR
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Feb 19, 2019 - 08:52am PT
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Bought one: CURLF
Got a tip from a friend who knows the founder.
Seems like a crowded space already though...
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SilverSnurfer
Mountain climber
SLC, UT.
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Feb 19, 2019 - 09:21am PT
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"Psilocybin is a schedule 1 drug while Fentanyl is schedule 2."
While I would agree that it makes no sense that psilocybin is Schedule I as it has no high potential for abuse (and, in fact, it is only justifiable as schedule I by reasoning that ingestion is abuse) ,contrasting it with Fentanyl isn't meaningful-Fentanyl is a perfect fit for schedule II.
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| Messages 1 - 33 of total 33 in this topic |
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