RE:RE:RE:Not for Sale : )Weed closed @ $9.87 today - some warning! Anyway you look at this sector it's inevitable the long lull till legalization will cause some significant pullbacks.
November 2015 most MMJ plays at least doubled when Trudeau was elected. Then over the next 10 months they all pulled back erasing the gains they made - plus some! November 2016 this sector went crazy on the account that the government report on cannabis justified legalization and since then has pulled back some and the see a little upwards surge working up to the official announcement in April.
Now there's at least a 14 month long period where any kind of positive company news is not going to have much influence on the share prices of these companies because legalization is already baked into their market caps plus a whole lot more for some.
This sector will see pullbacks of at least 40% over the course of the next 12 months. Stay long, buy more, sell some or all, or wait it out is up to you, but expect significant pullbacks instead of delusions of grandeur.
quantum8pattern wrote: Did you see yesterday morning entering weed at 9.50..After the second selling wave sniffing out support at 9.49 hammering down loading. Didn't I warn people couple of days ago this will be the last time weed is under 9.99. How many of you had to pay back?