Cannabis stocks

[LibertyVolance]

Do any of you subscribe to any reliable investment services that you have been pleased with, such as Morningstar, Zack's, Motley Fool, Investors Business Daily, or even a lesser known service?

The recent runup in the cannabis stock, Tilray, has been stunning. But all those cannabis companies could be experiencing a bubble. Tilray has shot up from the $90 range just days ago to $225 range today. I would like to make some dough off this growing company, which is developing its' biomed usage for tremors, but would hate to make a buy at the peak of the bubble just preceding a major correction. Zack's currently reflects it as a Hold (neutral).

 

[GoVolsDR]

I briefly traded some cannabis penny stocks on the OTC markets, pink sheets, right after it was legalized in Colorado. There was a huge bubble that crashed, and luckily I was able to get in and out quickly. This is the company that I got into early and luckily got out before it came crashing down: SEC: Marijuana Vending Machine Company Made Up Bogus Revenue

I still firmly believe that until cannabis is legalized at a federal level, you're going to continue seeing these kinds of bubbles where you have a few companies that move the entire sector, and then the charts return to baseline. I'd view the entire cannabis sector as a speculative play and trade purely on technical indicators, setting strict stops so you don't get burned.

I don't subscribe to newsletters as I prefer to go to cnbc, fox business, the economist, and the wsj for news and analysis to keep up to date on the market. As for getting an edge, I'll look at the public disclosures for large institutional investors to see if there are any kinds of specific equities or financial products that I may want to place a bet on.

 

[Thunder Good-Oil]

Safest ways to get exposure to cannibas is Constellation Brands, Scott's Miracle Grow, and GW Pharma. 10 years ago I thought that the tobacco companies would own the space, but they're looking like hot garbage these days.

 

[Thunder Good-Oil]

There's also a REIT that specializes in leasing space to growers. I forget the name.

Edit: IIPR. Innovative Industrial Properties. Trades at a multiple close to 100x however.

 

[LibertyVolance]

It is wild now with cannabis stocks. Tilray went all the way to $300 today, back down to 170 and then settled at $215. There is an ETF called MJ that holds several of the startups, including Tilray, that minimizes the exposure to one specific stock. Nevertheless, the industry as a whole is still very speculative and the volatility will likely remain high.

 

[Thunder Good-Oil]

Dot Coms. Crypto currencies. A bunch of individual equities. They all overshoot on the way up. There is no logical way to predict the valuation at the top. At this point it's more gambling than investing. It's been that way forever. My Mom's father bought all sorts of gold stocks in the 1920s. We have a drawer full of the certificates. They don't even have any value as collectables.

 

[bignewt]

Ive had Cronos stock for a few months it doesn't seem to be as volatile but have almost tripled my investment already.