RE:Wild Ride FridayI really think it was a variety of retail investors. Although it's anecdotal, I do have several friends that are also invested in Canadian marijuana. There is a problem of people (at least my friends) being over-extended in these weed stocks becuase the gains have been enough to warrant basically all their extra money on their paycheques. I am not even joking about my friends paying rent, buying groceries and then just puttingthe rest into marijuana shares. They all think the potential gain outweighs the risk. The problem is that they are newer to investing, and can trade from their phones. I had a lot of text messages saying "Yeah, I sold, I'm waiting to buy back in", followed by "I am stupid". I don't know the initial cause, but from my neck of the woods, it was a very emotional selloff, and a lot of small time guys lost a couple thousand. I wonder if they'll learn next time.
Luckly on Friday, I slept through that dip (to 1.58?), and to be honest, if I were awake I would have been somewhat uncomfortable (mainly because I done have money anymore to buy the dip, Haha), although I am experienced enough not to play these games, since the price moves so unpredictibly. It was a successful shakeout to some degree. I have a feeling that at least my friends (yes, they all bought back in) will be smarter next time.
To answer your question, I do think California passing recreational MJ will have a significant effect, since it can change the political climate even more. The US is at a tipping point for marijuana being legal federally legal (if more than half of the states pass legislation, federal rule will accomidate the rule). If the USA has to change federal rule, you better bet your shares that Canada will be the progressive little brother and be forced into expediting legalization. It is a huge catalyst. I have seen absolute nonsense change the fate of stocks, and this is not nonsense, buddy.
I cannot rank the stocks fully, but stick with COMAA, a health canada license is a license to print money. No other stocks in Canada or the USA have that level of validation.