swamp
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Post by swamp on Jan 23, 2020 12:19:40 GMT -5
I bought $5,000 worth.
My thoughts are that it's a growing industry. Why not?
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billisonboard
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Post by billisonboard on Jan 23, 2020 12:26:54 GMT -5
Pun intended?
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swamp
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Post by swamp on Jan 23, 2020 13:31:46 GMT -5
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bean29
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Post by bean29 on Jan 23, 2020 13:51:04 GMT -5
My beautician agrees with you. It is the only stock she owns and the only retirement fund she has. She invested less than you and she is between 40 and 45.
You could be right, wish I would have invested in Microsoft or Google in the early days.
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weltschmerz
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Post by weltschmerz on Jan 23, 2020 14:03:40 GMT -5
My beautician agrees with you. It is the only stock she owns and the only retirement fund she has. She invested less than you and she is between 40 and 45.
You could be right, wish I would have invested in Microsoft or Google in the early days. I wish I got in on the ground floor for Beyond Meat. The stock went up 700%.
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shanendoah
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Post by shanendoah on Jan 23, 2020 14:05:33 GMT -5
I've invested about $80 (100 shares) in a marijuana stock. It's possible I'll invest more.
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tskeeter
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Post by tskeeter on Jan 23, 2020 15:38:04 GMT -5
I bought $5,000 worth. My thoughts are that it's a growing industry. Why not? Did you check out how the industry is doing, in general? I ask because my only experience investing in pot is some Canopy that my Dad bought. It appears that Canopy has been a loser since Dad bought it. I’m going to sell before it goes down further. You’d think that a pot company would be no brainer successful. As a NV resident, I’ve watched legalization of recreational pot. Here, the sin taxes imposed by the state are so high and the regulation so onerous that legal pot is not the highly profitable business you’d think it would be. Pot through the more traditional “black market” distribution is a lot cheaper than pot through the state regulated distribution system. So the black market system continues to flourish, while the legal system appears to be struggling.
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mollyc
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Post by mollyc on Jan 23, 2020 15:53:44 GMT -5
Interesting. I don't know how the companies are doing in the States but apparently there is a Class Action lawsuit of some Canadian Cos from American investers. They are claiming misrepresentation of potential growth and risk or some such.
TBH I wouldn't invest in any of the companies but I'm coming from a prejudiced point of view based on DH's friends issues with the medical mj companies. He won't stop growing his own any time soon.
If his friend gets her license in TO for a bakery, I would invest with her. However, that is more of an emotional choice then financial and I would consider it a gift until proven otherwise.
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Deleted
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Post by Deleted on Jan 23, 2020 15:54:21 GMT -5
It is investing in an industry that is illegal Federally and could be shut down and rendered to zero anytime by the Federal Government.
I don’t think that is likely and I’m pro-pot, but it is there.
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Deleted
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Post by Deleted on Jan 23, 2020 16:07:42 GMT -5
The illegal market is booming, the legal one not so much, at least in CA.
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shanendoah
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Post by shanendoah on Jan 23, 2020 16:11:15 GMT -5
I am invested in CannTrust. I bought partly because it was cheap (under $1/share at the time) and because it was a stock Motley Fool recommended. CannTrust is a Canadian company, where there aren't the Federal issues there are in the US. I bought at $0.84/share and now it's at $1.10/share. Since I am planning on holding for another 8 years or so at least, I figure the $84 dollars it cost me is an acceptable risk.
EDITED TO ADD: Their high, over the last year, was $10.04/share, so they've dropped considerably. If they get to $10/share again, I might consider selling.
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haapai
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Post by haapai on Jan 23, 2020 16:21:32 GMT -5
I get to the same resounding "no way" through a different thought process. It's not a federal clamp-down that scares me. What scares me off are the reliability of the financial statements produced (how the hell do you audit an all-cash business?) and the illegal competition.
I'd consider lending money to a friend who needed capital in to turn their family recipes into a thriving cash-only food business but I'd never go in as an owner. There are just too many ways to first invent and later under-report sales for me to be comfortable.
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Bonny
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Post by Bonny on Jan 23, 2020 19:03:31 GMT -5
I bought $5,000 worth. My thoughts are that it's a growing industry. Why not? Did you check out how the industry is doing, in general? I ask because my only experience investing in pot is some Canopy that my Dad bought. It appears that Canopy has been a loser since Dad bought it. I’m going to sell before it goes down further. You’d think that a pot company would be no brainer successful. As a NV resident, I’ve watched legalization of recreational pot. Here, the sin taxes imposed by the state are so high and the regulation so onerous that legal pot is not the highly profitable business you’d think it would be. Pot through the more traditional “black market” distribution is a lot cheaper than pot through the state regulated distribution system. So the black market system continues to flourish, while the legal system appears to be struggling. That's what is happening here too. My city of 40kish citizens has approved 6 pot shops in the last year. Only two have opened.
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weltschmerz
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Post by weltschmerz on Jan 23, 2020 19:13:30 GMT -5
Initially, our pot shops were doing a brisk business, because it was a novelty. Now, not so much, because it's more expensive and there's SO much plastic packaging involved. People don't like that. Everyone "knows a guy" who will not only sell it cheaper, but will deliver.
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weltschmerz
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Post by weltschmerz on Jan 23, 2020 19:18:57 GMT -5
Packaging for a piddling FOUR GRAMS of marijuana. For every gram of cannabis sold there can be as much as 70 grams of packaging waste, according to some of Canada's first cannabis customers. The amount of plastic, cardboard, foil and wrap that's being used to package and market cannabis seems excessive to many. "It's really shameful," said Remi Robichaud of Moncton. "Being a coastal province, they should do something about the amount of plastic that goes into our ocean." www.cbc.ca/news/canada/new-brunswick/cannabis-packaging-excess-1.4870682
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jan 23, 2020 20:47:45 GMT -5
It's risky! If the laws change your profits could go up in smoke.
Might even burn through the principal.
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busymom
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Post by busymom on Jan 23, 2020 21:02:24 GMT -5
What sort of dividends do they pay? And, do they bring brownies to the yearly stockholder's meeting?
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weltschmerz
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Post by weltschmerz on Jan 23, 2020 21:14:00 GMT -5
What sort of dividends do they pay? And, do they bring brownies to the yearly stockholder's meeting? Don't be silly! They don't have stockholders' meetings. They have potlucks.
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Deleted
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Post by Deleted on Jan 24, 2020 15:16:25 GMT -5
Might be prudent to buy stock in Cheetos and ice cream manufacturers.
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