I agree I’ve always been a bird in the hand man
( take the gains).
What you see in box in the TLRY chart is called “single time framing.” Markets will often decline at some point to fill in the gaps in the single time framing where very little volume has been traded. I wouldn’t take that trade either since it is still possible that it keeps going up.
There are a lot of cross currents that drive pricing behavior like this. I’ve learned not to trade these “crazy stocks” in either direction, long or short.
2 Likes
Very nice!
1 Like
I put a small amount on bitcoin last week. BTC is about as risky as I am willing to go with. I figure I’ll just let it set for a few years and see what happens. If I lose it all then it won’t really matter. It’s just for fun, but so far so good.
2 Likes
Hi. Just watching and trying to learn a bit.im small time/long term. What is at EFT. Someone mentioned EFT:MJ ??? Thanks!
ETF is an acronym for exchange traded fund. MJ is a cannabis ETF which likely contains a basket of various cannabis stocks and cannabis related companies. The fund manager does the stock picking.
ETFs generally have management fees, which are generally <1% of the value of the holding. A 0.8% fee is pretty common. In return for the fee, you get a manager who (hopefully) knows the industry well and can pick the appropriate (and best) assets to invest in.
ETFs are good vehicles for getting exposure to an industry from a broad perspective.
2 Likes
2 Likes
@neofirebird Have you checked out APHA this morning? It’s up another 30% in premarket trading.
Anyone holding TLRY is doing well too. TLRY is up ~40% this morning.
Kind of feels like the Reddit crowd is going after the cannabis stocks now. These are small caps with small floats, so big moves are due to limited supply. They are behaving like GME did a couple of weeks ago.
3 Likes
I sold enough tlry to double up yesterday and kept 60 shares. Still have 100 of greenthumb too. Hard not to pull trigger on dumping thd rest though
2 Likes
Tlry making another push. In threw limit order at $65, we’ll see what happens.
1 Like
A sell limit for a short position? You’ve done this before I take it. 
1 Like
I have done before, but this just to sell at $65 or above. If it were to make it.
Be careful out there.
2 Likes
It’s good, just sell limit order. I usually place them on stuff even I intend on keeping, just at astronomical amount.
1 Like
How high is high is the question. It’s not a short squeeze at this point. Shorts are less than 1-day to cover for most of these cannabis stocks at this time.
This morning’s premarket: TLRY +13%, APHA +12%, CRON +8%, THCX +6%.
Be safe out there.
3 Likes
Anyone here a Grow Generation customer or investor? I’m looking at that as an pick and shovel type investment.
2 Likes
Welcome to the forum.
GRWG has been making money the past few quarters, but the price to earnings ratio is over 700.
The thing about these stocks that are being driven by the Redditt boards is that the Redditers don’t have unlimited money and therefore the prices we are seeing are not sustainable in the long run (weeks to months at best.) It’s going to take sustained buying to hold up prices at this level. Days to cover for GWRG is 1.5, so it really can’t be a short squeeze play either. A long squeeze is much more likely to play out in the coming days, weeks, or months. Sales growth is solid, but it’s not good enough to justify a 800% premium. The business they are in (hydroponic and related supplies) is subject to fierce competition too.
Can you make money with these assets? Of course, but no one knows where the top is.
These are, of course, my opinions and shouldn’t be considered investment advice.
4 Likes