RE:RE:RE:DOOM and GLOOM agree with the Cannabis sector doing well going into mid-terms..Biden lit the fuse..
as far as retail...most were buying bitcoin at $60K and Oil stocks when it hit 120
They love to buy when stocks go up and hate to buy when they go down...So emotional..
I am a retailer but seasoned...I do not use emotion with stocks..
and i have a long term view...always have...
cheers
quinlash wrote: Retail investors live under a rock when it comes to understanding the big picture as they tend not to look at the overall performance of a sector or the macro-level economic environment.
Since Covid and the out-break of the Ukranie war the S&P as well as the DOW have been getting beat up pretty hard. That means that stocks are soft at the moment in all sectors, not just Cannabis. In every down-turn there is always a sector and a handful of stocks that perform well, some extremely well. In Covid it was big-pharma as that sector was expected to benefit the most from the virus. Miltrary Defence stocks moved up on the outbreak of war... no surprises on either of those.
Cannabis stocks trend up well each and every time the US Discusses progressing legalization or de-criminializing the substance. We seen that just last week when Biden said he would pardon minor offences.
The US-Mid-terms are right around the corner in Novemeber. I am willing to bet that the topic will be hot again any day now or over the next couple of weeks and these stocks will jump again and (depending on what is stated) the sector will be performing well from that time forward for an extended period.
JMHO
Q
- Long on Cannabis