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FYI: esterday was the first day of trading for the U.S. ETF industry’s first pot-focused fund. The ETFMG Alternative Harvest ETF (MJX) was, up until the day after Christmas, focused on Latin American real estate companies and traded under the ticker LARE. Regards, Ted http://www.etf.com/sections/daily-etf-watch/first-pot-etf-starts-trading
Many of the pot stocks in this ETF have been on an absolute tear the last 3 or 4 months. Canopy Growth (TWMJF) was up 12% yesterday (12.27) and is up another 6% today, perhaps due to this new ETF starting on 12.26. This sector is still incredibly speculative. Many of the top holdings in this ETF are traded OTC with nosebleed p/e's. Kinda tough to value these companies as the pot market in Canada and elsewhere simply can't be valued just yet. An intriguing space to follow though ...
I sometimes suspect some of the posters here are stoned.
I agree Hank. I went to invest in this ETF, but once I got into my account I forgot why I was there. Started laughing uncontrollably while staring at the different color lines on the charts. That gave me the munchies, so I opened up a bag of chips and spilled them all over the key board. Hmm, that made me think, can the Bills actually make the playoffs this year? ... What were we talking about?
@hank & MikeM - thanks for the laughs. FWIW - I are. Too flippin' cold outside to do much else.
BTW Mike, you're suspect. You know too much about the process to be a virgin.
p.s. edited to add that I too went to assess an investment in MJX but decided to wait a bit to see if it comes down from it's high. Me too to be prudent about the whole thing.
I don't know. I live in a legal state and, even near the University, the strip mall weed shops seem to have very low volume traffic. I confess this confuses me and makes me wonder if, somehow, part of the allure is illegality.
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https://www.bnn.ca/can-t-ignore-the-growth-canopy-forces-bay-street-to-take-notice-1.953896
BTW Mike, you're suspect. You know too much about the process to be a virgin.
p.s. edited to add that I too went to assess an investment in MJX but decided to wait a bit to see if it comes down from it's high. Me too to be prudent about the whole thing.