Bot WEED.to (TSX) @ 10.97 Target area is $16.00 CDN
- Thread starter Gasper
- Start date
Good read:
Green gold: how China quietly grew into a cannabis superpower
http://www.scmp.com/news/china/soci...ld-how-china-quietly-grew-cannabis-superpower
Green gold: how China quietly grew into a cannabis superpower
http://www.scmp.com/news/china/soci...ld-how-china-quietly-grew-cannabis-superpower
WEED.to (or TWMJF for my cousins in the USA) / Canopy Growth~ This trade is still going well with the pot legalization date looming in a few months (July 1/2018). Canopy is the largest supplier. Last week Constellation Brands (think Corona Beer, plus other drinks etc.) announced their new venture with Canopy Growth whereby they infuse drinks etc. with cannabis at some future date. As well as each province and state sign their distribution contracts (and other companies sign their supply agreements) with Canopy Growth, it propels the stock price ever upward. Another emerging industry that has garnered interest to drive this upward is mixing cannabis with edibles (think muffins, cookies and that kind of thing, whereby again Canopy is a supplier to them). With not much slowing this stock down, it's hard for me to understand what a potential target will be by July 1/2018. ....$30 ? ....$40. Suffice it to say that you'll do extremely well if you jump on board this train, as the target is much higher. Cheers!
...I've been knocking on the table for a while. Get it now.
Those fires in CA are gonna help ya too. http://www.mercurynews.com/2017/10/...rs-rebuilding-after-fires-is-no-certain-task/
All-time high today. Good job.
I got into this stock early August if I recall. Had some cash to put in my RRSP's and decided to place a small position somewhere in the marijuana sector. It was a pretty small position, maybe 3% of my total portfolio value. I figured I'd look to hold it for a couple years as the market is trying to figure itself out here with new laws and legislation being figured out here in Canada now for 2018.
Today I'm looking at it before market close thinking should take some of the position off or close it, I cant really see how this thing can go any higher but it keeps surprising me the past couple weeks.
I really didn't even notice marijuana stocks until co-workers(I'm an electrician) started talking about how people they knew made all this money on weed stocks and they wanted to get in, which is always a flag to me when people with no interest in the markets start talking about easy money. I pulled up the chart in November and knew the party was over, even if their was something to gain the volatility was too much for my daily swing trading.
Volatility had contracted and consolidated through the summer so looked like a decent time to get in for a long term position. Trade plan says to re-evaluate the position next August but I dunno, think I'm gonna have to take the money and run now.
Today I'm looking at it before market close thinking should take some of the position off or close it, I cant really see how this thing can go any higher but it keeps surprising me the past couple weeks.
I really didn't even notice marijuana stocks until co-workers(I'm an electrician) started talking about how people they knew made all this money on weed stocks and they wanted to get in, which is always a flag to me when people with no interest in the markets start talking about easy money. I pulled up the chart in November and knew the party was over, even if their was something to gain the volatility was too much for my daily swing trading.
Volatility had contracted and consolidated through the summer so looked like a decent time to get in for a long term position. Trade plan says to re-evaluate the position next August but I dunno, think I'm gonna have to take the money and run now.