RE:RE:Smart not to announce news on friday, but monday insteasG777 by the way I am long here just purchased Friday morning around $.1.90,for the first time, as I sold my entire position on Tuesday morning OGI, MARI, WMD, FIRE, EMC and few others, I watched market up and down on Wednsday, and Thursday then desided Friday morning to step in again , decided to Take substantial position in IMH. Why you may ask?, It was on my watchlist and Friday morning early trading appeard that, it could be another corre ction day for MJ stocks, but IMH stood there on its own, few cents higher than the previous close, That is what made me to step into it, of course after being on my watch list for some time, I dont know about tomorrow, weather I will hold or sell, all depending on the news, but I am bothered with valueations,
Here is why
20 of the biggest public Mj companys , in Canada, have a combine MV of $ 25B, That is staggering number, and to many unknowns, sale/net profit etc, In my opinion these companys would need to sell more than 2.5B worth of MJ realted products, per annum to be trading at these levels, How in the world are they going to achive that? not in the next few years, impossible, so from now on I am approaching MJ stocks more carefully, may be just one at the time. GL tomorrow to all of us,