Chadstroma
Footballguy
I have never smoked or otherwise used cannabis. Never tried it once. I have no intention on trying it as well. However, the winds of momentum are going in cannabis favor. The continued legalization of medial and recreational use continues and I do not see where it will stop. The flood gates will open up with Federal legalization which will eventually happen once there is enough states that have legalized it and there is nothing crazy that happens as a result.
About mid last month, a friend of mine posted on FB about his investment in Canopy Growth (CGC) and the big return he got largely due to the Constellation Brands (STZ) investment of $4 Billion. At that time, I knew that there were some companies scattered around in states that has legalized cannabis in some form and watched/read some news reports on them. Most of my attention was on the banking side of it just because that is my background. I had no idea that Canada had legalized cannabis for recreational use in October and that there were some companies actually listed on exchanges to buy stock. I then did some research.
I found that Tilray (TLRY) seemed to be an interested option to buy. It seemed like they have had some time to build up a presence in Canada and a leader in establishing contracts that were crucial. It did not already have any major investors from the beverage or other industries like there was with Canopy Growth. It seemed to be that they were a leader in the space and potentially with some room to get return. So, I bought at $29.05. I wish I could say that I expected that in less than a month the stock would zoom to $97.36 before edging down to closing Friday at $77.89 but no way could I have anticipated that if I did I would have bought a whole lot more stock! It really jumped when it came out with 90+% increase in sales on it's reporting and continued to jump and jump.
Tirlay is not along in the rocket ascension over the last month. It is on Bitcoin and glory days of the dotcom boom levels. The excitement has been edged as famed short seller Andrew Left with Citron came out first hitting Cronos (CRON) and then later Tilray (TLRY). At first, it didn't seem to have much impact as both still gained but I think people were looking at the valuations and they truly are insane if you look at the short term. However, long term the market is ridiculously enormous. The US will get to see a good test case as to how it goes with Canada giving it a try. Long term, the right company that navigates this will easily be a Fortune 100 or will be bought out by a large company with large premiums to be expected.
I am pretty decent at buying. I do tend to be a buy and hold investor. I am horrible at selling though. Is it a time to sell and hope for a continued dip to buy again? I don't know. I have been considering it was in the high 80's.
Are you investing in this space? What are your expectations? Favorite companies? Talk to me.
About mid last month, a friend of mine posted on FB about his investment in Canopy Growth (CGC) and the big return he got largely due to the Constellation Brands (STZ) investment of $4 Billion. At that time, I knew that there were some companies scattered around in states that has legalized cannabis in some form and watched/read some news reports on them. Most of my attention was on the banking side of it just because that is my background. I had no idea that Canada had legalized cannabis for recreational use in October and that there were some companies actually listed on exchanges to buy stock. I then did some research.
I found that Tilray (TLRY) seemed to be an interested option to buy. It seemed like they have had some time to build up a presence in Canada and a leader in establishing contracts that were crucial. It did not already have any major investors from the beverage or other industries like there was with Canopy Growth. It seemed to be that they were a leader in the space and potentially with some room to get return. So, I bought at $29.05. I wish I could say that I expected that in less than a month the stock would zoom to $97.36 before edging down to closing Friday at $77.89 but no way could I have anticipated that if I did I would have bought a whole lot more stock! It really jumped when it came out with 90+% increase in sales on it's reporting and continued to jump and jump.
Tirlay is not along in the rocket ascension over the last month. It is on Bitcoin and glory days of the dotcom boom levels. The excitement has been edged as famed short seller Andrew Left with Citron came out first hitting Cronos (CRON) and then later Tilray (TLRY). At first, it didn't seem to have much impact as both still gained but I think people were looking at the valuations and they truly are insane if you look at the short term. However, long term the market is ridiculously enormous. The US will get to see a good test case as to how it goes with Canada giving it a try. Long term, the right company that navigates this will easily be a Fortune 100 or will be bought out by a large company with large premiums to be expected.
I am pretty decent at buying. I do tend to be a buy and hold investor. I am horrible at selling though. Is it a time to sell and hope for a continued dip to buy again? I don't know. I have been considering it was in the high 80's.
Are you investing in this space? What are your expectations? Favorite companies? Talk to me.
