SecondAttempt
Thinks s/he gets paid by the post
I'm curious what people think about investing in marijuana stocks and ETFs.
Earlier this year I bout some POTX, an ETF. It is down about 50%. But I did not buy a lot so that is much less than $1000. I viewed it as completely speculative.
But, I am pretty confident that marijuana will be legal nationwide in the relatively near future. I have not used the stuff since a handful of times in college over 3 decades ago. But I know plenty of people who do. I don't think I have ever met anyone who does not use it only because it is illegal.
So I do not think legalization will lead to a dramtic increase in sales and use so I am not quite sure that the companies operating in the space will see a big boost to sales.
But what I do expect is that the sudden legality, access to the banking system, capital markets, shipping and transportation infrastructure, and so forth will be a HUGE positive for marijuana companies. So my investment is mostly a bet on that.
As I said, I am down about 50%. I am thinking of doubling, tripling, or quadupling down. In the scheme of things it will not be a lot of money but I think there is a great deal of potential.
Am I crazy?
Earlier this year I bout some POTX, an ETF. It is down about 50%. But I did not buy a lot so that is much less than $1000. I viewed it as completely speculative.
But, I am pretty confident that marijuana will be legal nationwide in the relatively near future. I have not used the stuff since a handful of times in college over 3 decades ago. But I know plenty of people who do. I don't think I have ever met anyone who does not use it only because it is illegal.
So I do not think legalization will lead to a dramtic increase in sales and use so I am not quite sure that the companies operating in the space will see a big boost to sales.
But what I do expect is that the sudden legality, access to the banking system, capital markets, shipping and transportation infrastructure, and so forth will be a HUGE positive for marijuana companies. So my investment is mostly a bet on that.
As I said, I am down about 50%. I am thinking of doubling, tripling, or quadupling down. In the scheme of things it will not be a lot of money but I think there is a great deal of potential.
Am I crazy?