Do you think it'd be smart to buy stock in some cannabis companies? Have you bought any/know of the best companies to invest in?
smh. I’m a start checking in on Saturdays.
I wanna fast from the socials, but I don’t wanna leave y’all stock questions unanswered. I wish I saw this a week ago. This past week a few cannabis companies made some new millionaires.
Yes it’s a great idea to invest in cannabis companies. The canabis market is one of the sectors that started moving again when Biden and Kamala came into office.
It’s going to generate a lot of money in America when more states legalize or decriminalize it, which should happen within their first term. I can really see it happening since our ecomny took a hit from covid, so legalizing and decriminalizing MJ can be one of the ways they try to get some money back in it. Thats a speculative catalyst.
Now that Biden and Kamala are in office that’s one of the things they want to be remembered for. Every President want to have a legacy like Obamacare. Thats one of the things Kamala said she was going to do during the campaign. I believe she will make it happen as a way to try and right her wrongs for the lives she locked up for it. Not trying to get into politics, but it has a direct effect on the market.
Also, don’t listen to Jim Cramer on this, he saying it’s not time yet. He's not talking to me and you. We want to be early or on time and by time Jim says its time its really too late cuz once he gives an approval the prices are ridiculous.
I personally can't recommend any one stock because I haven't done the proper due diligence on them, but people with research I trust and who's been into it heavily been talking to me about $TLRY $APHA $SNDL $CGC if you don't want to choose a specific stock you can pick a ETF dedicated to that market. ETF is a basket of stocks and the value comes from the combined efforts of the stocks in that basket based on their percentage in the ETF. To break it down simpler, it’s like a all star team. Melo might drop 60 when he on the Knicks, but on the all star game probably give you 25 because the ball is being spread around more. $MJ $MSOS $CNBS $THCX are some I know of. This article will give you more help.
https://www.investopedia.com/best-marijuana-etfs-5077586
2/13/2021
I’m dating this, I want to check back on these ETF’s in 6 months, then a year and after Joe and Kamala term. I want to see the progress.
BONUS
I personally don’t invest in ETFs because the performance, the gains are based on how well everybody in the group is doing and the percentage they have. So for example Tesla can be an ETF with just 5% of it and Tesla might go up 1000%, but the ETF probably go up 5% because Tesla don’t really move the ETF because it don’t got much weight.
A trick I like to do is just comb. through different ETF’s in the sector and see which stocks they got in common and research those. If 15 different people with good taste told me this pizza is good I’m a check it out and it might actually be really good.
Good luck on your journey, do the right thing and buy me a Lambo when you're a millionaire. You can claim it as a tax write off as a charitable donation. We all win. 😉
Links
Here’s a few of my affiliated links. Make an account with it and we both get a free stock.
Join Robinhood or WeBull with my link and we'll both get a free stock. You have to deposit $100 with WeBull to get the stock.🤝 Lmk if you use I got a lot of information I want to share with you when we do.
Robinhood
WeBull
I know how Robinhood is looking in the media, I spoke on that already. I’m a keep using them for now because they got features I like. Them having a debit card is pretty clutch for me and you can flip money really fast on there.
WeBull is better overall in my opinion between the two now that I understand things more on the technical analysis side of things.
