Buy the rumor, sell the news. Is this what happened with cannabis stocks after Canada legalized marijuana, only the second country in the world to do so? I think so. Some market participants have come to the realization that the valuation of pot stocks has gotten a bit out of control and used the news as a reason to unload positions — some for a profit, some for a loss. —Recommended Link— New Retirement Solution: ‘Executive Dividends’ Issued by some of the biggest corporations in America but unreported by the press, these “Executive Dividends” can be worth a fortune… Read More
Buy the rumor, sell the news. Is this what happened with cannabis stocks after Canada legalized marijuana, only the second country in the world to do so? I think so. Some market participants have come to the realization that the valuation of pot stocks has gotten a bit out of control and used the news as a reason to unload positions — some for a profit, some for a loss. —Recommended Link— New Retirement Solution: ‘Executive Dividends’ Issued by some of the biggest corporations in America but unreported by the press, these “Executive Dividends” can be worth a fortune — if you know where to look… See how to cash in HERE, starting at $3,080 per month. The long-awaited legislation, which, in practice, meant that the official start of legal recreational sales for adults in Canada was on October 17, was celebrated with a big selloff of pot stocks. The table below highlights the same three companies I profiled in my September 25 update issue, with an emphasis on their price post-Canada legalization price action. On average, the three stocks, Tilray (Nasdaq: TLRY), Canopy Growth (NYSE: CGC) and Aurora Cannabis (NYSE: ACB), declined 25% in just a week. Read More