Marijuana stocks

Just a matter of time with marijuana industry. It will pass federally at some point.

I’ve got just over $10k invested across a few different companies. Long term hold here.
 
Yep, I put about one percent into a handful of stocks and have just been letting it ride for while. Up over 75% so far. And that’s not counting what’s happening today!
 
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Bought a little MJ and YOLO about a year ago. Up nicely. Thread reminds me of the series Weeds....very funny
@RobbieB - I think I'm understanding why a lot of your posts on "blow that dough" involve food purchases :D
 
kcowan said:
Most public listing for companies producing marijuana are currently on the Toronto Stock Exchange. They have been asked to provide shareholder lists to the US.

Here is a cautionary tale:
Venture capital investor banned from the US

Here is another bizarre example:
Landlord gets refused entry


And also even being employed in the industry can be a problem:
Employee denied entry

Of course, the Canadian Border Officials also deny anyone in possession even if they are driving from Washington to BC, both of which are legal possession states. Hopefully that will get fixed in October.

Interesting times!
Click to expand...

So if you're Canadian and have connections with cannabis, the US tends to deny your entry into the US? Is that what the issue is?
 
With the new administration, am expecting resistance to legalizing Cannabis to be relaxed, and together with urgent need for State Revenues, many if not all states will look to legalizing as well.


Friends have mentioned a beaten down stock, Sundial Growers as a possible investment for the long term. Symbol SNDL, stock price is $0.67 now.



Anyone know anything about this company? My very limited DD shows nothing very impressive about this outfit, but at such a low price it may be suitable to buy a few hundred or more shares to hold.
 
I took a quick look. It appears they are primarily focused on the Canadian market. Couple of finance types as chairman and ceo. Vertical integration model. I’m not familiar with any of their branded products.

Somebody else might explain their financials and especially this strategic investment document. It appears they fronted a bunch of money to another grower and are promised a royalty. Makes me go hmmmm.

https://www.sndlgroup.com
 
Coolius said:
With the new administration, am expecting resistance to legalizing Cannabis to be relaxed, and together with urgent need for State Revenues, many if not all states will look to legalizing as well.
Click to expand...

Just out of curiosity, what about the new administration makes you feel that way? Biden is an old time drug warrior, and Harris was a federal prosecutor with a strong record for drug prosecutions and asset forfeiture cases. I can see more positive (for legalization) state activity, but I don't think the administration is really for it. Although they might pander to their supporter's wishes. I hope so, but I'm cautious.
 
harley said:
Just out of curiosity, what about the new administration makes you feel that way? Biden is an old time drug warrior, and Harris was a federal prosecutor with a strong record for drug prosecutions and asset forfeiture cases. I can see more positive (for legalization) state activity, but I don't think the administration is really for it. Although they might pander to their supporter's wishes. I hope so, but I'm cautious.
Click to expand...
In 2010 Biden was still calling pot a gateway drug, but his campaign rhetoric now seems to follow a more progressive party line. Harris was a federal prosecutor, but in San Francisco. That's got to make a difference, right :) I put $2,000 into APHA a few weeks ago as a speculation play that the Democrats will do something at the Federal level to make it easier for these companies to do business. Right now it's an all cash proposition, at least in the U.S. and things can't really take off until they can access normal lines of credit and use Visa/MC etc.
 
ckelly78z said:
OGI currently up 47% at 3.18 a share today. I bought at $2.18 24 hours ago. Doing my happy dance !
Click to expand...

I know it’s crazy! I bought a Canadian MJ stock on 12/29/20 and as of today it’s up 120%. I only wish I’d had the nerve to have bought more of it. But I’m not complaining.
 
Coolius said:
With the new administration, am expecting resistance to legalizing Cannabis to be relaxed, and together with urgent need for State Revenues, many if not all states will look to legalizing as well.


Friends have mentioned a beaten down stock, Sundial Growers as a possible investment for the long term. Symbol SNDL, stock price is $0.67 now.



Anyone know anything about this company? My very limited DD shows nothing very impressive about this outfit, but at such a low price it may be suitable to buy a few hundred or more shares to hold.
Click to expand...



Hey Coolius, what did you decide on this SunDial outfit? I see it’s up to $1.50 today.
 
I upped my positions in Aphria to 500 shares and MJ to 400 shares early during the pandemic downturn. I have been steadily lightening those positions as they have spiked. As of this morning, I'm down to 200 shares of Aphria and 293 shares of MJ ETF. I will probably hold my MJ position, and sell 50 more shares of Aphria at $25 and hold that position at 150.
 
KC, I bought 6000 shares at an average price of $0.71. Then I sold covered calls for them, at $1 strike for Feb 12.


With the rise today, my calls would likely be assigned this Friday, so I rolled some of them out to 2/26, for a credit.


Sure has gone up pretty fast. wasn't expecting such a quick rise, I must say.
 
Some short term trades are definitely profitable. I’m lazy and consider these more of long term bets. Up about 150% with no losers in the last year. Guess I should consider doing a little pruning at some point.
 
Apparently the Reddit gang has been in TLRY, APHA, CGC. I found this on Fidelity's front page of the mobile app.

I bought TLRY on Friday for $26. Its trading at $53 in the premarket today.
 
Congrats on a great buy, MRG.



It looks like the entire sector is on a roll, and likely ongoing, if the new Admin continues to give out signals of relaxing restrictions on Pot.


Gotta look at TLRY.
 
I own CGC (TSX:WEED). Bought it pretty high 2 years ago around $40 with my casino money (a small amount). It was trading around $20 for a long, long time, but it started climbing up around November and it shot up from $56 to $65 in the last two days... I should have bought some more when it was around $20...
 
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I bought 240 shares of Aphria (APHA) on January 8th. That will give me 200 shares of Tilray at the announced exchange rate of ~.84 shares of APHA per share of TLRY after their merger. Both stocks were climbing a bit based on the election returns with speculation that the new administration is going to take steps to decriminalize pot. However, it now seems that Tilray is in play by the Redditbets crowd. My plan for my initial investment was for a medium term outlook, but now I am wondering if I should take some money off of the table before the Reddit crowd moves on and these stocks return to something that resembles their true valuations. Since it's only a few thousand bucks, as of now I'm just going to let it ride and see what happens. Right now it's fun to watch!
 
Do they send out samples to the shareholders? That's how I've been picking them. ;)
 
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