day for the ages ... I'm selling some WEED today ...I have no ulterior motives...I am merely a small-time retail investor....so I felt I would explain my reason for selling today, as others may be in similar positions as I...
Well, I just sold 50% of my WEED position. Now, its only 700 shares I sold, I'm far from a high roller, but, it has been quite a ride, and, after this truly amazing day today, I felt it best to cash in and book some profits. As I type this I see WEED crawling even higher, lol
My cost base was around $9.70 a share, and I sold at $27.45ish. So an incredible return...all in registered accounts too, so the tax man won't see any of it ever...
I haven't totally cashed out on the MJ sector....I still hold a lot of ACB, and I still hold about 600 shares of WEED.
my reason for selling?
Valuations.....thought the valuations were ridiculously overvalued before, and another incredibly strong day today....I just don't worry that these companies earnings aren't going to justify the share prices once rec becomes legal.
Will I miss out on some further gains? I'm sure I will...I think this industry will be huge...
I've been investing for 10 years now, I've been through some booms and busts, this time, I'm booking some profits.
GLTA who are still fully invested in WEED and MJ in general, enjoy the ride...but remember, sometimes its best to take some profits.............