Hi. Got the stash app. Looking for a good weed stock. Can you help @dbrn32 . Any advise out there?
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Many of the cannabis companies are listed on the Toronto exchange, but have US competitors such as CGC, CRON, and TLRY. These are the most well-known and established cannabis companies.
If you want a more broad basket of cannabis stocks, then ticker MJ is a cannabis ETF.
CRON has missed a few quarters here and there, but generally has positive earnings. There is no dividend.
CGC and TLRY are still losing money.
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Is cgc canopy growth?
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Yes, it is. These 3 may also be Canadian companies with US listings. I haven’t checked.
Now may not be good time to buy. I’m currently holding tlry and gtbif. I’m in really good shape on the gtbif, but only reason I have tlry is because I quadrupled down lowering my position from $67 lol. I’m just about at point where it’s gonna go and I will make some money on it. Everything is way too high right now and based mostly on market speculation. I would expect some to deflate after next earnings statement, would probably be better time to buy.
I do believe that gtbif is a good one to go long on. They seem to have a little more reasonable growth strategy than most, and are nearly profitable. I bought twice, both sub $10. Which is a lot better than buying at $30+
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Earnings dates:
TLRY: 22 March
CGC: 9 February
CRON: 3 May
Holding stocks over earnings is risky (more so even than holding these assets over any time period.)
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Ya, I won’t still have tlry lol.
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I’m a technical analyst and trade index futures and crude oil for a living, so I have access to all of the market data. I have to say that the charts of these 3 look very constructive. They have nice volatility which is good for traders, but bad for longer term investors who are concerned about risk management. The argument for buying is the potential of policy changes at the federal level. Many states are expected to follow through if cannabis is legalized federally. The risk to that is bigger players will step in the industry if that happens.
Disclaimer: this is not investment advice.
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Pot stocks were way more fun to dabble in when it was speculated that these companies would do well. Now that they are up and moving have become more results based investments like everything else. Two summers ago you could have doubled up on any of them on any given day. It’s my opinion that federal legislation on cannabis is not good, therefore I’m not advocating or hoping for anything of the sort. That is separate conversation though.
Tilray moving from 47 Billion dollar company to being valued in the millions in less than a years time should be enough to make people hesitant.
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Probably holding them back. Institutional investors are always hesitant to get in a company with abysmal earnings performance, which is basically where these companies are at this point.
You would think that the capital these companies raised with their IPOs would be enough to fund their growth, but they are still very weak from an earnings perspective.
The only one of these companies that are covered by analysts is TLRY. TLRY have a consensus for 2021 growth at 39.6%, which is impressive. Any institutions buying cannabis are doing so for the growth. I’d probably be more comfortable with an ETF. The ETF MJ had a 7% pop yesterday. MJ also has a 3.46% dividend, which is impressive. Short interest on most of them is minimal.
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I’m just following along reading keep the free info coming. I was reading earlier today about changes that could be coming in the near future at Federal level.
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I agree, etf makes most sense for people who aren’t avid investors wanting to put money into cannabis.
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I love this stuff. One of the good things about the job is that I can hang out here and share info and not miss anything when the market is quiet like it is now.
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That’s cool. ! I’ve noticed you are a early bird up with the chickens.
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Yep. I get up early and get research out of the way, and can even trade S&P futures before the 9:30 open.
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I have my retirement money with “a guy”. Started personal account with small amount of money so I could feel like I was gambling at work. It’s been a lot of fun, but I realize I won’t be quitting my job to trade full time.
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I left my corporate job and started in 2013. I lost quite a bit of money the first few years.
The average person is best off buying an S&P ETF or mutual fund and not even looking at it until close to retirement. Average annual return for the history of the S&P is 10%. There are of course outlying years where down 20% occurs from time-to-time.
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I know there’s several different kinds ,what’s your opinion on annuities.
Annuities are not for everyone. People buy them to avoid risk, and while they do that, they also put most of the market profits in their own pockets. I would never buy an annuity.
These are my opinions and not investment advice.
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