There's always two sides to anything...
I started trading around the dotcom boom before I started working. Didn't have much money so I played penny stocks on the OTC, hoping to save up for a house. It was crazy, with the stocks kept going up with no stopping in sight. I remember buying things that a family friend, Stantec electrical engineer, saw and said you really bought those? Yup, all high and mighty, spending like mad. A house? Can easily afford I thoughtAnd then came the dotcom crash and a bunch of my invested companies went into bankruptcy.
Got a job and started working, making just 30G a year gross income. Not bad but not much really. Made more than that in a day with the stocks before. Company was still in its infancy and just turned the corner. Thought I learned to value the dollars by the time the energy boom came around and concentrate on savings. Nope. Just couldn't help it. Not as crazy as dotcom boom but made more than a few dollars. More toys and forgot all about savings. Company got into the U.S. market and expected to double the revenue next year. And that next year? You guessed it, the crash.
For the young ones out there, if you make decent money during this MJ boom, don't take it for granted. And don't go spending like mad on toys. A million isn't that much nowadays. You can blow that pretty easy. Secure the house first before toys and don't spend needlessly. The market doesn't go up forever. 22T debt down south with majority of that went into pumping the market is something to consider. Didn't go up based on fundamentals and you don't know when the 'bankers' decide to blow up, grab the assets for pennies, run them up, and start the vicious cycle again.
Anyway, it's good to see performing well, fundamentally. If trading based on hype, then it sucks. Before legalization, sure, almost every stock ran up, with fundamentals, charts, or TA thrown out of the windows. I've seen that before. Not special during any boom. U.S. market is different because of cheap money involved, which is also why it's a ticking time bomb. There's reason why companies used tax-cut money to buy back shares. Back to AGRA, I said it backed off from overheated zone but just barely, even with that sell-off last Friday. Let it cool down a bit more. You like to see the good run-up, expect big drop-off as well. As investor, you want it slow and steady. Traders like it otherwise. Yeah, I've become a boring investor now. But no matter, just need to know it's achieving higher highs and higher lows. Last time, I expected hold in the .50s/.60s and this time in the .60s/.70s, so far so good.