Who was it that said...?"Never before has so much been expected, from so few companies, with so little industry history and so little actual experience, over so short a period of time!"
A few years ago, there was no weed industry. Now people are treating companies that are spending a lot of cash getting off the ground in a fledgling industry like they're Ford, have been around forever and now no one wants to buy a car. These are young companies laying out huge expenditures getting their infrastructure in the ground. The retail mechanism to sell is very problematic and underdeveloped. Demand so far exceeds supply and yet people are wringing their hands over potential oversupply and punishing the entire sector for what might happen in 5 or 10 years...
If you got in the weed sector to get rich quick, then I sure do hope you are shorting these stocks this year. All industries go through a growing pains period. All the money going in the wrong direction to build facilities and supply chains and increasing knowledge, etc. Why is it that people sound like they expected the shares they bought for paltry costs 3 years ago to now be worth millions? And those same idjits are now selling at a loss for some inexplicable reason.
I am just overjoyed to be able to buy a few thousand more shares of OGI for less than $3 (next week, hopefully) and ACB for less than $4. I mean, I could not have planned this industry spiral any better having missed getting on baord until just 18 months ago or so. I'll tuck those shares away and forget about them and when I pass someday, my kid will look at all those shares like the kids of early baby boomers looking at all the microsoft and coke shares their parents had socked away.
Or maybe no one is going to smoke weed in the future. Maybe the medicinal advatages will all be found to be a lark. Maybe I'm a bag holder...
GL>
CB