Post by
InAMeeting on Aug 18, 2023 8:30am
How Times Have Changed...
My, my, my... THC was one of the first two pot stocks I ever bought, the other was CGC. In December 2015, I started to buy THC around 8-9 cents, my first buy of CGC was at $2.20. I had about $30,000 in mutual funds that had done absolutely nothing for me over the preceding couple of years, and i thought what the heck, let's gamble some cash on pot stocks, so I cashed out those useless mutual funds, and opened a self-directed RSP and a TFSA.
Fast forward to December 2017, I was holding maybe 200,000 shares of THC, and smaller amounts of a bunch of other pot stocks. I had thought about it for a while, and then I made a decison to pull the trigger - I sold every other pot stock I owned, and put everything into THC. It was just before Christmas and at the time THC was trading about 70 cents a share.
Dont get me wrong, I didnt think this was a long term investment, I suspected THC was just a mom and pop sham company, and I believed that the cannabis sector was probably a bubble, but there's nothing wrong with a bubble if you're on the right side of the curve, so I knowingly took a gamble, rolled the dice on THC, and I got lucky.
After I sold everything else and bought THC I was holding slightly over 700,000 shares, just before Christmas. I went on vacation down south around December 27, I was still on vacation in the islands for New Years and still holding 700,000 plus shares when the market exploded on January 2-3. Anyone can look at the price history for this stock in January 2018. I didnt sell at the peak over $3, but you might say I did OK. I went from an initial investment of $30,000 in December 2015 to 7 figures in January 2018 - what a ride.
I still come back to this board now and then to see what's happening, and everything I believed about this mom and pop operation is proving true, the only lesson here is bubble's are great as long as you get out early. I still have some cash in pot stocks, the only two companies I'm holding right now are SNDL and TLRY.