For those of you jumping in – the first post in the following thread and the experience of others on the chain should be a salutory lesson to those looking at the next Tilray
DO YOUR RESEARCH
IT’S A LONG GAME
And — as we have discovered over the years at cannabis law report – beware dodgy players, over excited executives and many others before you start poughing in your cash
We’ve been reporting faily on this shit for half a decade and one thing we’ve learnt for sure, people get burnt and will carry on being burnt… DO YOUR RESEARCH
Also see article
We’re reminded of the old Suzie Quatro number
The Post
Once the dust settles and everyone starts trying to wash off the Kool Aid stains…
It’s hard to see red, it’s even harder to wash that stuff off but if it makes anyone feel better then I’ve achieved my goal.
The industry is crashing, hype can only carry a stock so far (see CGC/ACB/Aphria/Tillray all circa 2018) but speaking from that experience here we are three years later and those who were once bag holders are now being replaced by the next cycle of bag holders and the previous holders are actually making good money…and all it took was three years.
If anything, the industry crash means ETF’s will be dirt cheap. Spread your risk, do your research and don’t listen to Reddit (myself included, I’m a just a legal paper pusher for a big telecom). If you still have holdings that are driving just leave it and/or dollar cost average yourselves to a break even and then wait it out.
It’s not a guarantee of course but if you need motivation look no further to the people posting their 2021 gains from holding the bag in 2018.
This isn’t a long play…it’s a loooooong play.
Puff puff…and wait folks and best of luck to you all.
level 1
Market is red today and we already talk of a crash and bagholders and such?
For most stocks, we are just back to prices seen two days ago.
level 2
Yeah I don’t understand. Weed stocks are still up tremendously from the last MONTH. They also have a long way to go. Can’t be expecting massive green days consistently. No need to jump ship imo.
level 2
11 hours ago·edited 11 hours ago
Right? Did everyone forget the fucking market we’re dealing with right now? You think this is about to just randomly stop?
Like with a 1400 stimulus check coming soon how could anyone possibly think this bull run is close to ending? If this correction scares you then you have no business investing.
Edit: the s&p and Dow have the same correction today. It’s a market wide dip. Keep calm and buy more stonks!
level 2
Exactly! Just because there was a insert rocket emoji to the insert moon emoji yesterday out of seemingly nowhere shows me that this stock was a victim of some fuckery and it’s levelling out back to normal. The only trouble is if you bought in yesterday.
level 2
It’s hilarious to read so many comments that are tied up in LOOK HOW THE HEDGIES ARE TRICKING US
When clearly today is the result of pumping and dumping across Reddit. APHA is still about half of TLRY. It’s still high. It’s just the insane gains are settling.
level 2
Exactly. Tilray was up like 50% yesterday and then down 40% today. Apha lost like two days worth of gains. Same with most MSOs
level 2
These drops met the last 2 months trend line almost perfectly. Things are right on pace. Just hope not too many people bought in at the peak in the last couple days – not good practice.
level 2
bought 10000 more shares of CLSH no way this is over because of media contagion from Reddit bashing.
There’s plenty of time and more room to speculate before the Senate does anything “sell the news-worthy”
level 2
This is what the old generation of bag holders said three years ago. The old meme was, “you’ll never see these prices again!” Now it’s “hold the line, diamond hands”.
level 2
Agreed. The bottom feeders got their fix and are bailing.
We long holdouts will win in the end.
level 2
Tell that to the people who went all in on Tilray yesterday and are down 40% now. Or the people now down 50% on Medmen. Or the people down 25% on Aphria since yesterday. Plenty of bagholders were created in the last 24 hours.
level 2
As a weed stocks holder from 2018: “You call THESE bags?”
level 2
I bought into the cannastonks for the long haul. But the fact that we had a similar situation 3 years ago is a bit concerning. Biden needs to come through.
level 2
Thank you and everyone else for speaking logic. It’s sad how quickly people turn this beautiful subreddit to shit
level 2
Exactly. This is nothing. There’s gotta be dips for their to be growth. It’s inevitable
level 2
It’s because of how violent the moves have been.
Many of the OG holders here have gone through multiple boom and bust cycles already. I’ve been in APHA since 2017 and have seen my holdings go from $4.5 to $24 back down to $9 back up to $20 and then down to $6 back up to $12, and then down to $3.5 and now back up to $40.
If I didn’t learn anything along the way I would be dumb as fuck.
I sold half this time at $40 and couldn’t be happier.
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level 2
Make sure to puff responsibly!
Here’s my story copied from a post yesterday:
In at $1.14 x420 shares.
After all the Robinhood drama, I pulled out at $1.23 and was gonna buy back in on the new Fidelity account I opened, but then I got high and forgot.
Now I’m sad, but I still have weed so I’m not that sad.
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level 1
I have always been long in this sector. It’s hard to imagine that this stuff goes away in the next 3-5 years. I’m taking after Buffet on this one – I’m going to hold for probably 10+ years. The sky’s the limit IMO.
level 2
Me too. This is part of my kid’s college fund. Holding for 15 years.
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level 1
I’ve noticed that anytime CNBC says stock name and “reddit” now, within the week it drops dramatically
I bought at the dip yesterday but if I waited a little longer to see that CNBC news article pop up in my stocks info, I would’ve been like “oh boy a sale is going on tomorrow”
level 2
Everything is a damn reddit stock nowadays, it’s annoying as hell.
level 2
MSM are targeting reddit to try to get FOMO buyers and trap retail.
All mention of reddit from MSM should be seen as active disinformation.
level 2
I thought that earlier today as well actually, saw a lot of articles yesterday about how Reddit had now turned their attention to weed stocks but like no. Most of what I’ve seen is just people from 1, 2, 3 years ago finally seeing gains from a long hold and more people are jumping on board because they’re seeing green across the sector, weed is just a straight up bull market at the moment.
level 2
Yes because when they mention reddit is behind something it’s actually a pump and dump being done by Wall St.
level 2
Yuuup. every time. By the time you’re hearing “buy this!!” By major media sources, it’s too late.
level 2
There were 12 billion dollars traded on Tilray yesterday. That’s not retail. The reality is institutions are the ones buying this stock for the gamma squeeze and using the reddit media narrative to pump the stock. Same thing happened with Gamestop. These reddit bagholders are getting played by big money.
level 2
CNBC talking about “another Reddit stock – PayPal” on my ride home today. Good way to test this theory!
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level 1
Well lesson learn my speculation on weed stock just turned into a loooong ass play. Oh well I was too late to the party. Shit happens
level 2
Just scroll through yesterday’s daily thread or peer into today’s. 2018 people are cashing out in the thousands.
(The party only gets quiet but never ends)
I’m looking forward to seeing your gains in 2024!
level 2
Choose good companies with good fundamentals and a demonstrated track record of organic QoQoQ growth and then average down like fuck. Don’t chase and don’t think you are smarter than the rest. Don’t go outside the 1-3 top LPs and 1-3 top MSOs unless you are doing a lot of research including reviewing multiple quarters of financials.
level 2
Bought last week, now I’m down 30%. Buckling up for the long haul.
level 2
Not that long, as soon as more legislative news comes out there will be another big run on weedstocks
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level 1
I learned from my losses in 2017-18…and it was a hard hard lesson at the time. After holding Aphria for the last two years I took 50% of my profits out on the way up at three levels and reinvested the proceeds in top 4 MSO’s. Honestly I look at the 2000 shares of Aphria I have left and wish I would have sold more seeing the bloodbath today. But overall I am happy I took profits and still believe in Aphria long term. For those of you new to weed stocks…this is how it goes. You gotta be prepared for massive volatility. GLTA!
level 2
I’ve had APHA since 2017 as well. Got burned a couple of times in 2018, but overall I have faith in the long term for that company.
level 2
When you reference the “top 4 MSOs” which are you referring to?
level 2
This. I get stressed out when I see multiple 15-20% daily gains in a row. Give me steady growth over years any day.
level 2
completely normal. At some point, the stock has to be tied to a company’s profitability.
level 2
Not when rocket and diamond emojis are involved. I guess the fuel burn and glare blinds people to the word “corrections”.
I guess this is what happens when twenty-somethings put their modest life savings into a “rocket to the moon” meme stock.
I’m just happy that I’ve got the experience to pick up the pieces once it all crashes.
level 1
Jeez whats with all the doom and gloom. She’s a Rollercoaster, strap in and f*cken ride!
level 2
Have you been parsing through the threads? You’re right though but when folks are throwing everything into a stock that’s already peaking because some subreddit says it’s cool to do it, coupled with the insanity of being locked down I just wanted to people to realize there’s doom. Gloom for sure but that’s temporary.
level 1
Just keep averaging down. I’m still holding everything from 2018 and decided not to sell because this is a great time to add on
level 2
This is me and HMMJ…started in at $18, bought a lot more around 6 and it went back up to 18 yesterday and last I checked was sitting around 15/16 and that’s fine with me. I don’t plan on divesting until I’m forced to change my RSP to a LIRA (approx 21 more years) and I will keep buying up cheap shares so long as I have expendable income to do so.
August 2018 to present is my timeframe.
level 1
We are back to like 5 day ago levels, only way up now is up. Lock in
level 2
Exactly. I was happy selling a few shares of apha at a lower price than today’s level back all the way on Monday
level 2
I can’t help but laugh…”we are back to like 5 days ago levels” because to me it’s 2018 levels.
level 1
i am not selling!!! i’ll be the bag holder. i believe strongly in the future of this industry!
i just got in 12/2020. everything is red but i stand strong. i’ll see you in 2023 and beyond!!
level 2
you won’t be a bag holder. this has massive potential. we are on the ground floor of a skyscraper.
level 1
“Canadian companies get caught up in meme stock frenzy during legitimate US rally.”
Unfortunate for the whole sector, but it’s a temporary setback for the real names.
level 1
I held APHA bags for 2 years. I’ve learnt my lesson. Take profits when you can
level 1
I was upset to see all my MSOS gains disappear, but then I remembered I bought this stock in preparation for future banking regulation/legalization so now I just saw it as an opportunity to buy more.
level 1
Meh this is just some distraction, Ill get nervous when we’re back to november levels. Im holding, see you guys for EU legalisation.
level 2
It’s just word of legalization that caused this spike. You will see a much bigger run leading up to actual legalization. Don’t go too far.
level 1
When you’re buying a stock you’re buying a share of a business. If you like the underlying business and think it’s going to grow the daily stock price should not matter. If anything you should buy more when it’s down.
level 1
One red day and the industry is crashing? So no more catalysts in 2021? No legislation? No more states pushing for medical and recreational? No new dispensaries opening up? No further expansion?
Get the fuck out of here with this hyperbolic shit.
level 2
Sorry but I HAVE to insert the obligatory “fuck you ACB”.
I may preach keep calm and carry on but ACB is like a spouse that cheats on you with both your brother and your brother’s son.
(I honestly thought they’d be the Pepsi to CGC (as Coke) so I put more money there and stupidity made me lose it all…not this time though)
level 1
2016 holder. Sold every Canadian LP I owned that I didnt sell in 2018 (APHA/HEXO/OGI). Still holding MSOs for another 2 years or so.
Up 800% overall.
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level 2
Thank you.
Having general investment is one thing, but I fear after today people will need to see/hear more of “yes, it can and most likely will get better…just not tomorrow or next month or next year..here are examples.”
level 1
lol people go in the red for a day and they’re ready to jump ship, this was always a long play anyone expecting something different is misinformed and/or an idiot.
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level 1
Folks are selling like it’s over. This is a correction to the short squeeze yesterday.
level 2
Naw. Canadian cannabis companies will be like Drake…a Canadian dominating the US market.
Hold on, I comin’ home!!!!
level 1
Nope this isn’t over yet short term and long term.
Short term (pre-bank or pre-Senate action) this is a shakeout on the run-up. Designed to rip the shares out of paper handed RHers. The smart ones have left RH and are now able to buy US companies on the OTC.
Long term (pre-legalization) this is the first step up a long ramp of speculation before the news gets sold.
level 1
The industry isn’t crashing. Over hyped stocks are correcting. Industry is doing well and still developing.
level 1
This pullback is so healthy. Curious to see what type of chaos actual US legalization announcement brings.
This is only the beginning – a 2017 holder
level 1
“Industry Crashing” is a lil dramatic. I hear this every time some milestone is reached and investors take profits. My take is the industry is in its infancy. Will some startups fail, sure, but many will grow and grow for years as this prohibition falls away and a huge industry is born. These profits are better in the pockets of investors and the economy in general than in some drug smugglers vault… JMHO
level 2
Absolutely but you’re using market terms for market trades where I took the emotional words for the emotional trades route because let’s face it…80, maybe 90% of people who just got didn’t do so out of “market trades”.
Could I have used a softer approach? Sure but having been “here” back in 2018…I thought I royally screwed up my retirement plans and it weighed heavily on me. I’m hoping just one person reading this feels a little better with their current position and realizes retirement is realistically decades away.
level 1
This is a correction not a crash. All the new money in the sector is just hot money trying to make a quick buck. Those of us invested in the space see the potential. It will continue to grow. Legislation is coming.
level 1
I bought SNDL at 1.10 have a 130 shares remaining, I pulled out my original investment so now I’m playing on the houses money. Guess I’m in it for the longgggg haul lol
level 1
11 hours ago·edited 8 hours ago
I got into all of these literally a couple of days before the hype, which caught me off guard, but my intention from the get go is LONG term with these stonks, at least 5yrs+ I believe both the cannabis industry & the psychedelic industry have nothing but upside for the long term investor.
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level 1
I think there was hype, which pushed prices up, but looking forward there are major catalysts to the industry. Buy the dips, because as we hear chatter about banking and legalization, these will shoot back up. Been in the game for a while and holding strong.
level 2
Personally IDGAF about the decriminalizing, I just want the US banking system taps to open up so we can see companies once again trading at 500% their revenues so I can sell on the highs for short term plays.
But no matter what it’s a long hold.
Good luck!
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level 1
I’m surprised anyone cares about today’s dip. IMHO, the strategy should be to keep buying until legalization, which Dems have said they want to make happen this year. Once that happens, cash out when you’re happy with the returns. Anything that happens until then is just noise.
level 1
If anything, the industry crash means ETF’s will be dirt cheap. Spread your risk, do your research
you kinda contradict here, do your research and buy your own picks, dont rely on an ETF full of trashcos
but yeah i agree, find some good long holds out of this mess, ignore this pump because the cream will rise eventually on the next pump
level 2
I only mention that because in spite of the best advice people will still go another direction. I’d rather see people spread the love vs going “yolo” on one stock.
For transparency I’m heavily invested in HMMJ which holds CGC/Acreage/Aphria/Tillray/ACB (obligatory “fuck you ACB”) which has great entry potential to a national US market. I’ve been steadily picking up cheap prices with every down and I truly believe it will explode once the US market opens up. Also, my outlook is 20+ years on this industry in North America.
I also have some shares of HMUS which offers more US exposure and it’s set to split 3:1 EOD. That coupled with a crash will make this ETF grossly cheap for long term investors.
In the end people will do what they want and since I’ve been a long time lurker and I both sides of ups and downs…and then seeing the whole GME/AMC fiasco play out and it now leaking into cannabis stock AND todays down turn, I just want people to people to at least look at their options before crying themselves to sleep (like I used to).
But I digress…if I were right 10% of the time I wouldn’t be here sitting on my couch replying to a Reddit comment. Instead I figured I’d try and make bag holders feel a little more hopeful. To each their own.
level 2
Sometimes I feel like the ETFs actually underperform the stocks they’re made of. They suck, magically.
level 1
Historically cannabis stocks are extremely stable with high percentage price movement being only seen on major catalyst days. What we are seeing today is unprecedented. I’m lost in a sea of despair trying to figure how this could happen. Sure the fundamentals look good and outlook is strong but this latest volatility on an otherwise “slow gainer over time” has me in shock.
level 2
Yeah your error here (to me) is associating “fundamentals” with cannabis stock speculation.
If fundamentals had anything to do with it they’d all be ignored penny stocks.
Until we have fully open north american market it’s mostly hype.
level 1
Legalization in the US is on the horizon. Plenty of catalysts. This is nothing but a cooldown from a run with no built support. As someone who bag held for 3 years, I’m pretty confident that this sector will be soaring again once legislation picks up.
No need to doom and gloom this as a “crash”. Today should have been expected for anyone who didn’t just jump into the sector after hearing reddit or the news hype it up yesterday. Seeing red always sucks, but you only wound yourself if you actually sell it off.
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level 1
Essentially I am just back to where I was a few days ago. This is all driven by the short term greed of the day trading types and lots of hype. To me it feels like business as usual.
level 1
Understanding the market cycles and taking profit is important. Bag held APHA for 3 years at $14. Decided to secure profit and my initial investmet on half my position yesterday because the run up was not justified.
Not all is lost, look for good news in the industry within the year, and obviously that Tilray and APHA merger.
level 1
Yes, thank god I held from 2018. I missed out on the first bump, then was VERY happy with this second one. I left 65 play shares with Aphria just to see what happens with the merger but I made 200%.
level 2
Thank you for your testimonial. If we can get more of these it will be like an AA meeting…
“My name is egotripped and I’ve been holding ACB since early 2018…but I’ve recouped that loss amongst others over the years…”
level 1
How is this a crash? Lots of prices are still higher than a few days ago and only a day trend. People outside looking in saw a mad dash driving Tillray over $70 to drive profits from the merger and sell that night and after hours. People not knowing what is going on thought there was a mad dash on weed stocks and bought like crazy and when they say the selloff we all expected from Tillray others started selling not knowing what was going on.
Most will bounce back and been buying on the cheap!
Weird how in one day someone can say an Industry crash. No one said that about Bitcoin yesterday when it was tanking and look at it today.
I would be buying in on those low dips. Definitely going to go back up.
level 2
It’s not a “crash” and they will bounce back. I only use the term “crash” because there are many emotional investors who don’t understand what a correction is.
I’m not trying to perpetuate the emotion, just trying to connect in a tv sitcom step dad sorta way.
level 1
One notable bad day in a continuous run up of unsustainable price action these past few months and people already calling this a crash? It is apparent many haven’t learned anything being in this space..
level 1
Get the GameSpot day traders out of the sector, let them go to the Bumble app. We want real traders that have done research and are buying on the dip. This is just the start of something 😍 beautiful. I want to buy before institutions, large day traders and banks. ENJOY BUMBLE, BYE FELICIA! Patience is what you need to see federal legislation happen and then you get rewarded. Do the research 🤔.
level 1
I’m one of the old timers that has been in this space since 2018. MSO’s (and to some extent the better LP’s) still have a lot of catalysts coming up. Repeal of 280E, up-listing and banking in the near term. I am holding strong on my core positions (granted my cost basis is really low on most of my positions) With that said, I look at these dips as a buying opportunity for the better positioned companies and ETF’s such as MSOS.
Not a financial advisor, just my opinion, do your own DD.
level 1
I personally sold all my WEED. Was happy with 100% gain. Days like today reminded me of 2018 where it dropped 15-20% day after day with no hope in sight. Don’t give into FOMO and don’t get greedy. 100% over 6 months is an excellent trade. I’ll be back in when the prices are reasonable again.
level 1
It’s not a guarantee of course but if you need motivation look no further to the people posting their 2021 gains from holding the bag in 2018.
Worth noting that many of those 2018 bagholders could have avoided their predicament had they patiently waited to average down rather than rushing to catch the knife.
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level 1
I’ve held GE for 20 years. I can hold this shit. I bought it to go long. Like REAL LONG. Like 5+ years long. And most of my holdings are still on the plus side. This is nothing. Yeah, maybe I could have jumped out then back in to make some profit. But that wasnt the intention. The intention was to get in on a future green rush now. Not just before Legalization is imminent and the shit does moon.
This was always a long play. The last few days have just been a nitrous fueled blip that is going to be insignificant in 3 years.
level 2
“not just before legalization is imminent”
Take the last two weeks…and just imagine the run up on the industry with the entirety of the US financial markets behind it…loans and LoC’s for everyone!
I’m a long player myself and I can certainly imagine seeing the prices we’re seeing but x20 x50 because it will be the dreaded “hype + it’s legal” (and let the markets losers sort it all out) It will be 2017/2018 but on enhanced US Lance Armstrong-grade steroids.
A boy can only hope.
level 1
Mother fuckin Red Wedding out there today. Que The Rains of Castamere
level 1
Correction not crash. Only have to zoom out 3 months to see all them sweet sweet gains. Euphoria set in for a bit and now we’re getting slightly closer to reality. Long and strong 💪
level 2
Yes but when people invested emotionally vs logically it’s better to communicate with emotional terms.
(If they invested using a fundamental approach there wouldn’t be any crying over this spilled milk…but who am I trying to kid, there are no fundamentals with weed stocks right now)
level 1
So to those of us that are new here. We just paid for our predecessors losses. Lesson learned! There have definitely been some pming and collusion going on in here but that’s how it goes I guess. It’s the old “hey give me your lunch money play”. Touché ladies and gents, well played!
level 2
And in three years (maybe more, maybe less) or if more news comes from the US with Schumer’s bill and create another frenzy you’ll find yourself getting angry because you sold your “bags” for not as much profit as you could have.
The only difference between a masochist and a cannabis investor is the lack of safe word to get out of it.
level 1
We were shorted by our “buddies” haha. TRUST NO ONE!!! And more importantly don’t invest more than you care to lose. I’m still in the green and holding.
level 1
Will aurora’s earnings report hurt APHA stock overnight?
level 1
Put 5k in yesterday but doesn’t matter cus I love weed and I like the stocks so frick yeah I’m holding long like donkey Kong 🤤
level 1
I can personally attest to this….. it’s been a long three yrs, but the last month has changed everything. The experience gained and the profits realized are life changing.
Be patient, be careful and just know the industry is young and there will be money to be made again!
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level 1
Holding hmmj at 5.80. Im happy. Definitely some fuckery here and there, but I’m looking forward to us legalization. Also have some hmus at 36(bagholding for a couple of years) and am also happy with the future prospects. The only thing I’m worried about is a broad market crash, which I think might come soon…
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level 1
What was the catalyst for today tho? Just bought more too
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level 1
Things are currently being pumped by new money, and dumped by old money. I had -50% returns on my weed stock, then all of a sudden I’m UP over 100%, so yeah, I recouped my original investment, and I’m sure other longs did the same. We’ll be back again to add more, buying the dips along the way…
level 1
Yo, you people need to calm the f down haha. stocks go up but not without also going down… just hold and get on with your life if you are long.
level 1
If you have done your DD and believe in any company but the dip !
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level 1
I think its time to DD some defense contractors of Space Force
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level 1
And I got downvoted into oblivion over the last few days urging caution. Got it.
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level 1
Not selling here! I averaged up honestly, I didn’t expect THIS big of a dip so I made mistakes there… but I’m on this rollercoaster. It’s an absolutely necessary correction to continue heading up! Biden hasn’t even passed the bill and people are selling LMAO.
Long haul baby, this isn’t like 2018 I hope 🙂 even if it is, I planned on holding for years to come regardless! If I get the opportunity to average DOWN I absolutely will
level 1
Anyone going to buy before close or wait to see more consolidation tomorrow?
level 2
I’m sitting on cash from what I could recover from 2018 and am waiting until next week for the actual dust to settle (there are some after hours earnings reports coming this evening which will most likely negatively impact the industry).
Reddit investors need the weekend to see where the next moon flight is happening.
level 1
I completely agree. I’ve been accumulating weed stocks since 2019 and just kept averaging down and still some were %90 down lol. Hexo was at .70 last year just think about that. We’re just starting to see the market grow and it’s barely established. Play smart but this is definitely a solid long term investment.
level 1
I’m about TO BANK ON MJ not Financial advice, but yeah, good mindset!! IMAGINE WHEN USA FEDERALLY LEGALIZES CANNABIS !!!! THATS THE MONEY HIT RIGHT THERE FOR US OWNERS!!!
level 1
level 1
Why do you think the industry is crashing? It’s definitely volatile but the industry is in its infancy. I think it’s too early to make such conclusions.
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level 1
“$ACB reports tonight and news flash: it ain’t gonna be pretty. the only saving grace is that everyone knows it’s gonna be a 💩 report…
given the recent run, this process of price discovery is natural / could last a few sessions / par for the course.
https://twitter.com/todd_harrison/status/1359954521540202497?s=21
level 1
All my investments are and have been down since investing roughly 2 years ago, except VFF. I got REAL tempted to sell at 22 today but imma hold.
level 1
I bought the top, oh well. Anyway decriminalization hasn’t happened yet so I’m here for the long haul 🤷
level 1
I fell victim to my emotions and FOMO yesterday. I paid for that lesson today for sure.
level 2
As long as you didn’t sell in the red keep holding. You’ll get it back eventually!
level 1
its not even a crash, this was jsut a hype and a pullback imo
this was inevitable and everyone that was experienced knew it and had stoplosses ready to go
Fam, we are still way up compared to a few weeks ago.
Sold my previous position, bought at 20USD (aphria, thought that would be a decent floor), its lwoer now but imma just buy more at a lower price and average down.
I’ve been here for years and I will be here for years lol
level 1
Smart people take profits from their stocks. It’s literally how you make money doing this. That’s all this was is people banking their newly found riches like you’re supposed to do. This stock ran up so quickly without much sense behind it besides a new round of hype — once articles started to hit saying “Reddit blah blah blah weedstocks”, sell the news.
Buy the dip is the plan if weed continues to be your long term play. All this feels like for me is “Holy Shit, CGC is on sale 20% this week!”
I gotta start getting in to swing trading though because I didn’t sell today even though I too realized yesterday “this share price is wayyy too high right now”. Anybody got any good articles or texts to read on swinging? Haha, not that kind… I mean unless… ?
level 1
Bro everything just quintupled. Going to need 3 days of this for a crash
level 1
Just look at the crash, it was before the market and a bunch of bullshit between hedges and ultra-wealthy with unlimited resources to manipulate the stock. They pushed it down before retail investors like us were even allowed to trade, by market open everyone panicked. It happens regularly, nothing changed but for a rigged system taking everyone’s money who sold today. If you haven’t sold, you haven’t realized any losses and can wait for the green again. (Yes I’ve been holding years)
Also, it will go back up. If you think this is hype based pump (things like the stupid UK distro), wait till the actual merger, wait till actual legalization, hell just allowing MSOs access to banking in the US is going to spike things upwards across the sector.
Always beware when giants are shorting shit outside market hours that you can actually trade it’s them getting ready to fuck you over.
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You assholes. I’ve been riding the HRVSF and TCNFF trains to retirement over the last three months—then ya’ll crash the market and now I can’t even feed my kid! /s
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One key difference is in 2018 the hype was for Canadian legalization.
As a Canadian and in hindsight it was laughable to even entertain the idea that our government knows how to do capitalism properly and not regulate things to hell.
This time the green rush is in America. America has a track record of successful capitalism even if it mean oppression.
Two totally different market two totally different outlook
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One day pull back. Not a crash. When you see long term bull markets, there are often really dramatic retrenchments. Same in the opposite direction for long term bear markets.
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When washing off Kool Aid stains, I’ve confirmed that the opposite color of Kool Aid does not, in fact, work.
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It makes no sense for the LPs to have ran this much, they’re still not making much money. The MSOs are a different story though.
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I stopped smoking weed 2 weeks ago and am instead using that money to invest in some weed stocks:)
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I’m sad to see you leave as a customer and fellow pothead but I’m proud to stand by you as a fellow shareholder.
Plus that means we got ourselves a designated driver! Wins all-around!
level 1
Puff..Puff..Pass …
I see red and that means buy the dip. Hype or not, it is going to recover and I’ll be there along with all the others holding for the long haul.
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Fuck me. First nok, now this.
One of these days I’ll get it right.
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No you won’t, but if you do figure it out please share the knowledge so we can all become millionaires 🙂
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I remember reading, “if you wouldn’t buy at those prices, you shouldn’t hold at those prices” and I think that plus seeing the media frenzy is enough to clue me in on selling. I’d rather take a small gain versus be left holding the bag. People hype diamond handing or “buy and hold”. But that statement is incomplete. Should be “buy and hold the bag”. Nothing wrong with taking profits. At the end of the day, everyone is trying to make money. Good luck to you.
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I bought Nokia at $6. I’m holding those. They are not going to completely disappear anytime soon.
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Does this sub have PTSD ive never seen so much doom and gloom regarding stocks and I’m on stock twits as well. Holy fuck chill out. My money is on a strong rebound within 2 months or less.
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Everybody needs an outlet to vent and based on my lurking this sub seems to be a welcoming spot for it. I call it honour amongst us thieves.
I only hope more people see your attitude towards it and start thinking the same.
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The only thing I’m doing different than 2018 is setting stop limits at my break even point. I don’t care if I’m red from gains but I’m not anxious to sit red on my intial investment for three more years.
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2018 was very different to 2021. The cannabis industry has come a long way and is expected to see substantially more growth in the next 5 years than it did in the previous 5. Mexico has fully legalized, a country with 4x the population of Canada. The United States has legalization on the table, a country with nearly 10x the population of Canada. Europe and Asia are beginning to open up to Medical Marijuana and CBD. I think this ia one of the best long term investments out there right now.
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CNBS is down less than 3%, I’m not worried exactly. POTX isn’t looking too hot right now tho
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