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Thread: Pot Stocks

  1. #1
    . cocky0's Avatar
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    Default Pot Stocks

    For anyone interested in these things, Canopy Growth went into a deal to acquire Acreage Holdings effective upon federal legalization in the U.S. And in case you did not know, John Boehner is on the board for Acreage. The deal costs Canopy $3.4 billion, $300 million of which has already been paid as a deposit to Acreage. So basically Canopy has invested a pretty good chunk of change on the hopes of federal legalization in the US.

    Ive been having more and more meetings with my friends and colleagues on the Hill about this some of the most conservative politicians around and their views are evolving on cannabis, too, just like the American people, he said last year during a speech at the American Cannabis Summit.
    Boehner has also indicated that full-blown legalization is already a hot topic of discussion and on its last leg. I have a strong suspicion we wont be waiting five years to see the federal government legalize cannabis, he said. Ive got to choose my words carefully. What Im hearing behind closed doors is pretty sensitive.
    https://www.forbes.com/sites/mikeada.../#fe782d7cce3c


    Anyways if you're on the fence about buying stock in marijuana, now might be a good time to start getting in on it. I just recently sold off some of my shares of one of my slow growing mutual funds to buy some shares in an ETF for pot stocks. This is the one I'm buying: https://www.cnbc.com/2019/04/23/cann...ot-stocks.html
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  2. #2
    Heisman Candidate carolina_corpsman's Avatar
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    Default Re: Pot Stocks

    I've wanted to test the waters. I'm really not into stocks and have minimal experience, but if this is something I could get in on the lower level it might be worth looking into.

  3. #3
    . cocky0's Avatar
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    Default Re: Pot Stocks

    Yeah I discovered I suck at picking stocks. Nowadays I stick to mutual funds, and they've done well for me. I figured this was a good way to reap the rewards of a growing market while sticking to the diversity of a fund. We'll see how it goes.
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  4. #4
    Go Cocks! ShutTheSuccop's Avatar
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    Default Re: Pot Stocks

    I bought canopy growth this January at like 26.XX/share. I am honestly kicking myself b/c a friend who originally told me to buy it in 2017 when it was less than 10/share. I will say that my financial advisor told me I was wasting my money on CGC and so far it has almost doubled in price. I think that CGC will remain volatile for quite a while but I am hoping that it will continue to trend up but with all of their capital investment I feel that they are positioning themselves to be a player in the near future as more and more restrictions on marijuana are lifted

  5. #5
    Heisman Winner Master Bedroom's Avatar
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    Default Re: Pot Stocks

    Quote Originally Posted by ShutTheSuccop View Post
    I bought canopy growth this January at like 26.XX/share. I am honestly kicking myself b/c a friend who originally told me to buy it in 2017 when it was less than 10/share. I will say that my financial advisor told me I was wasting my money on CGC and so far it has almost doubled in price. I think that CGC will remain volatile for quite a while but I am hoping that it will continue to trend up but with all of their capital investment I feel that they are positioning themselves to be a player in the near future as more and more restrictions on marijuana are lifted
    I remember you talking about this and wish I would have listened to you then. I am going to invest in some myself. Hopefully as this all happens they will be expunging some records too. It's crazy all these people stand to make tons of legal money off the backs of something that has put plenty of people in prison and /or the legal system

  6. #6
    Go Cocks! ShutTheSuccop's Avatar
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    Default Re: Pot Stocks

    Quote Originally Posted by Master Bedroom View Post
    I remember you talking about this and wish I would have listened to you then. I am going to invest in some myself. Hopefully as this all happens they will be expunging some records too. It's crazy all these people stand to make tons of legal money off the backs of something that has put plenty of people in prison and /or the legal system
    yeah man no doubt...seems crazy and ridiculous that I can "own marijuana stock" but I can't "Own marajuana"

  7. #7
    . cocky0's Avatar
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    Default Re: Pot Stocks

    Decriminalization seems to be a pretty well liked political point right now. I know Texas just reduced the penalty of minor possession to a fine. Between that and all of the states that are legalizing for medical and recreational purposes, it is disheartening to read about the battle in the SC house where SLED of all people were consulted in opposition to medical professionals. It is no longer a matter of if it will become completely legal. It is now a matter of when. I'd also look for this to be a talking point during the next presidential election.

    Anyways I'm hoping on being able to profit a little from it.
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  8. #8
    Heisman Winner thekob's Avatar
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    Default Re: Pot Stocks

    Quote Originally Posted by cocky0 View Post
    Decriminalization seems to be a pretty well liked political point right now. I know Texas just reduced the penalty of minor possession to a fine. Between that and all of the states that are legalizing for medical and recreational purposes, it is disheartening to read about the battle in the SC house where SLED of all people were consulted in opposition to medical professionals. It is no longer a matter of if it will become completely legal. It is now a matter of when. I'd also look for this to be a talking point during the next presidential election.

    Anyways I'm hoping on being able to profit a little from it.
    I don't see any way possible for the trend to reverse, so it seems like a good idea. I was just bitching to my wife how we should've bought Facebook....that'll be my "I could've bought APPLE!!!" rant to my kids when I'm older lol.
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  9. #9
    . cocky0's Avatar
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    Default Re: Pot Stocks

    Quote Originally Posted by thekob View Post
    I don't see any way possible for the trend to reverse, so it seems like a good idea. I was just bitching to my wife how we should've bought Facebook....that'll be my "I could've bought APPLE!!!" rant to my kids when I'm older lol.

    Yeah no doubt. I think back to Bitcoin. Some dude was on here way back when they were like $5 a piece. Of course I still don't understand how that ever took off, but man I wish I had gambled a little on it.
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  10. #10
    Go Cocks! ShutTheSuccop's Avatar
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    Default Re: Pot Stocks

    Canopy Growth in a nosedive after firing CEO and announcing that they don't expect to turn a profit until 2021. I would keep an eye on it as it may be a good buy again and then you can ride the wave up to 2021

  11. #11
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    Default Re: Pot Stocks

    Yeah I sold off my shares a few weeks ago after the price seemed to stagnate. Fortunately I didn't lose much.
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