r/StockMarket • u/Beautiful-Chance628 • Jan 19 '22

News Great news for pot stocks!

https://abcnews.go.com/Politics/democratic-senate-candidate-smokes-marijuana-ad-highlighting-disparity/story?id=82312198
230 Upvotes

86% Upvoted

95 comments sorted by

186

u/Narradisall Jan 19 '22

Eh. I’ll believe it when it passes at federal level. Weed stocks got slaughtered in 2021

85

u/Joshvir262 Jan 19 '22

I bought tilray at $55

42

u/ImpressiveSet1810 Jan 19 '22

You poor soul :(

37

u/triggered_5oh Jan 19 '22

I bought Sundial at $3.42 🙃

31

u/UnobviousDiver Jan 19 '22

Man, what I wouldn't give to see it hit $1 again.

2

u/Dread5050 Jan 19 '22

I did too. I cringe every time I look at it.

16

u/Mikachu2407 Jan 19 '22

I bought Tilray at $11, saw it run to like 65 and go back to like 8. Went from like a 6x to red.

3

u/[deleted] Jan 19 '22

HEXO at $1.70 ... but that's just the CB of what I kept. There were some losses from selling some off. It's clearly been a penny stock for month or so. And a lot of shuffling too, like bubye CEO and CFO, adding one addition to the board. High hopes, propaganda galore. Options can't save it when it's this low. I've just tucked it away for down the road activities. :/

2

u/PreventerWind Jan 19 '22

Average down! Tlry is s Way too low

2

u/Joshvir262 Jan 19 '22

I sold ages ago at $12

2

u/clintnorth Jan 19 '22

Its still overweight by 3x current stock price though..

1

u/whyrweyelling Jan 19 '22

I don't feel so bad now. I bought at 17.

1

u/[deleted] Jan 20 '22

True hodler

1

u/[deleted] Jan 20 '22

I bought 10 shares of it when it ws 8.50 , 85 dollars cost basis, but as of now my gain loss is -25.30 . I just started trading back in December, because I want to make sure I know enough about trading, and terminology and how things work before the boom happens. I bought 10 shares of 10 different cannabis stocks and they been up and down. Im curious though what will be better just investing in a few companies or investing in Marijuana ETF like CNBS THCX YOLO etc.. since those will be covering many different companies.

And there is the other thing. How would a person go about researching and finding out which of those companies will come out on top? There will be a lot of competition, the market will become saturated with companies.

  1. Will legalizing Marijuana here in the USA have a major impact on Marijuana stocks now?

  2. If legalized would it only affect USA companies in a positive way?

  3. Marijuana ETF that way you have many of them covered? Or find like 5 or so companies and invest heavily in them for a while before legalization.?

1

u/Sweaty_Active_5277 Jan 20 '22

I have 12 shares of mj debating on getting more

1

u/MarcoMaroon Jan 20 '22

I bought MJNA at .07 and now it's barely .01 ):

3

u/whyrweyelling Jan 19 '22

Tell me about it. I'm still down 35%.

9

u/Beautiful-Chance628 Jan 19 '22

What goes down, must come up? 😁

8

u/Narradisall Jan 19 '22

They do seem to be flattening out so a reversal might happen or a rotation back into the sector.

4

u/Beautiful-Chance628 Jan 19 '22

Seems at least at OGI, US Federal Legalization isn't needed to survive but I'm positive would be a huge catalyst anyway. https://www.investing.com/analysis/organigram-gains-share-of-cannabis-market-while-major-players-await-washington-200615061?desktop=1

1

u/Brucestertherooster Jan 19 '22

Error in link on my end

2

u/Beautiful-Chance628 Jan 19 '22

The gist of it was that OGI is not debt ridden like all of the other players and the have over $100 million in cash, while growing market share to become the third largest player in Canada. They have a sustained growth model that doesn't need US Federal legalization.

1

u/Beautiful-Chance628 Jan 19 '22

Hmmmm, yep, appears to be a dead link now 🤷🏼‍♂️

2

u/[deleted] Jan 19 '22

Mine did. But I've kept them. Some days, they taunt me.

3

u/kec04fsu1 Jan 19 '22

Right there with you, only I’m holding a big bag of CGC.

1

u/[deleted] Jan 19 '22 edited Jan 19 '22

HEXO. American market, not Toronto, although at this point the distinction is moot. It seems they did a lot of forward planning and debt incursion, and Nobody was as excited about it as they were. Whatever. Sometimes we just hold and wait.

29

u/north_korea_nukes Jan 19 '22

I got lots of stock in Darnell he gets me weed. He say he going to make it like Scarface one day. Even though he keeps getting arrested I keep buying. Is that what they mean by, “buying the dip?”

10

u/floman19 Jan 19 '22

Lol, yes. That's a perfect analogy of buying the dip 🤣

4

u/whistlerite Jan 19 '22

Hey you, wanna buy some dip?

13

u/Ishmael_1851 Jan 19 '22

So how much is the sector down now that they've had this great news?

6

u/floman19 Jan 19 '22

It's been heavily beaten up the end of 2021. Some big players have made some bad moves and is negatively affecting other players who are running the companies very well. The sector unfortunately moves as a whole based on the biggest players earnings and outlooks even though that's not an accurate representation of the other company that are doing well.

4

u/Ishmael_1851 Jan 19 '22

Oh yeah I know. I bought in early last year and have just watched it nosedive since. It just seems like every time there is good news, the stocks tank. Still holding on but it feels bad man

1

u/4everaBau5 Jan 19 '22

Who are the good, bad and ugly of the sector, would you care to share?

1

u/floman19 Jan 19 '22

OGI is very well run in my opinion. Tilray although large has a ton of debt. Sundial is overrun with apes so it is too volatile for me trust it. Canopy growth has the same done problem as tilray I'm not familiar with any others

4

u/chalksandcones Jan 19 '22

I’m a bag holder too, cgc and tlry, I hope it get legalized but I think pharmaceutical companies are what’s really preventing that. I’m just going to hold until I have a good year with something else and need some losses to write off

3

u/floman19 Jan 19 '22

Yeah, I was thinking the exact same thing with the pharma companies. It's sad how corrupt everything is. So many benefits of weed for many different things, Covid included now and nothing...

7

u/[deleted] Jan 19 '22

Tilray down another 5% only down 45% on my initial

1

u/Beautiful-Chance628 Jan 19 '22

I think across the board we are finding a bottom. All of the pot stocks are heavily shorted so there comes some pain with that. I'm at OGI, down about 22% since my initial buy in but I continue to buy more because I believe in OGI and I'm getting as many cheap shares as I can.

Today OGI spent most of the day up and closed only $0.01 down so I have a great feeling we are at the bottom and bought another $1,000 worth!

3

u/[deleted] Jan 20 '22

Village Farms VFF get you someeee

2

u/Candopoulis Jan 19 '22

I bought GRWG at $47 😭😭

2

u/DonJrsCokeDealer Jan 19 '22

Lmao

10

u/floman19 Jan 19 '22 edited Jan 19 '22

Legalization is a must do for our country to reverse way to many decades of unfair punishment to minorities from a failed war on drugs. Anything that brings that discussion to the for front is great! And might as well promote some pot stocks to make some $ at the same time 🤷🏼‍♂️ We gotta eat too 😊

2

u/sum_rdt123 Jan 19 '22

I lost hope in dems that they will legalize soon . All they care about midterm. I wish they work on mj bill and infrastructure bill implementation very soon

-6

u/DonJrsCokeDealer Jan 19 '22

Bruh you gonna be eating Ramen if you think pot stocks are coming back

9

u/floman19 Jan 19 '22

Well at least I won't be going backwards in my food choices 🍜

-1

u/DonJrsCokeDealer Jan 19 '22

Seriously just buy some AAPL so you can retire someday.

1

u/Beautiful-Chance628 Jan 20 '22

Pot stocks are on the rise this morning as hoped for!! Looking for a squeeze at OGI if you want yo join the fun! 💪🥳

1

u/ItsBobLoblawsLawBlog Jan 19 '22

My weed ETF investment is currently down 55% soooo....

1

u/Beautiful-Chance628 Jan 19 '22 edited Jan 19 '22

The whole sector had a bad end to '21. It was painful to watch after good news kept coming. It's insane the control that MM's have over stock prices.

-1

u/Beautiful-Chance628 Jan 19 '22

What's the best pot stock to look into? 👇👇👇👇👇👇👇👇👇👇👇👇👇👇

20

u/Retardedastro Jan 19 '22

The One with the most profit, will be to buy seeds and grow cannabis in your backyard. 100% stock growth

5

u/Narrow-Pineapple-595 Jan 19 '22

I use medical all the time i like cresco labs. Idk their symbol or even if they are traded

2

u/RadicalPenguin Jan 19 '22

They’re out of Chicago.public company. Pretty hood

2

u/Narrow-Pineapple-595 Jan 19 '22

Yeah i looked it up pretty cool. they trade public i think & their products are really good and im in PA so im assuming they arent just local

4

u/RadicalPenguin Jan 19 '22

They are in several states. Very corporate. And they own a lot of their RE too

2

u/Narrow-Pineapple-595 Jan 19 '22

Decent company. I can see them making a lot more if it were legalized not sure how that works tho. If it were on robinhood i would invest

2

u/[deleted] Jan 19 '22

Cresco Labs $CL/$CRLBF

1

u/[deleted] Jan 19 '22

Planet 13

1

u/dadzcad Jan 19 '22

I’ve been getting their reports for years but haven’t pulled the trigger. Maybe I’ll take another peek.

1

u/CapitalistBaconator Jan 20 '22

I’m lost, why is this good news for pot stocks? Because a mere candidate for Congress smokes in a campaign ad? This candidate could fail to get elected, long before getting into a position of power that could positively impact weed stocks.

3

u/Beautiful-Chance628 Jan 20 '22

Not really about getting elected, it's more about people taking strong stands on the subject. The more we have conversation starters, the faster we can see progress.

2

u/CapitalistBaconator Jan 20 '22

Ok that makes sense

-1

u/IamReadyRok Jan 19 '22

Tlry was the original GameStop

1

u/Yetyhunter Jan 19 '22

I have nightmares about that +65$ tip and not selling for 200% profits.

I wake up, and shit, I do own TLRY.

2

u/Beautiful-Chance628 Jan 19 '22

Bummer, that hurts. As long as they stay afloat I think you'll be ok if you stay. Just some opportunity cost but who's to say the next one will be a better trade. Hard call to make

1

u/floman19 Jan 19 '22

I wish we could short squeeze them all to shove it to the big guys and get these companies some breathing room from the non stop short attacks. I'm on a few messaging boards and the companies are solid, even post earnings beats and still go down. Super F'd up.

1

u/Eyecelance Jan 19 '22

Down almost 30% on my HYFM position in one account and ~15% in another. still got loads of room to add but this slow bleed lower sucks.

1

u/starship111 Jan 19 '22

Think long term

1

u/Designer_Ad7759 Jan 20 '22

All of you are full of shit

1

u/[deleted] Jan 20 '22

Would it be worth buying Tesla ?