Quote (Killingyouall @ Jun 8 2020 10:19pm)
Depends on when you bought.
If you bought before spring 2019 and sold before the crash that happened shortly after you would be alright.
Those who bought in 2015/2016 and sold a few years later made a killing. I am being very general in broad terms of how pot stocks are doing. There is outliers.
For me I bought into Aurora Canabis at $7 a share. Worst mistake I ever made investing.
Down a lot of money now. Worst $1000 I have ever spent. Two lessons learned from that:
Look at the numbers more closely. I invested based on emotion instead of looking at raw numbers. Anyone with half a brain could see how overvalued the sector was at the time. Numbers matter. Prices were driven up by emotional investors like me who wanted
to see the industry do well despite knowing they were buying an overvalued stock. Also when signs were obvious to sell I stubbornly held on. Learned to cut my losses and have not made the same mistake since.
I am also avoiding anything heavily regulated by government. They managed to make the legal sale of marijuana unprofitable.... Imagine that. What a complete botch. I won't go near anything they are so closely involved in again.
/e the share price appears to be very high right now but that is due to a consolidation of shares after an acquisition. The shares were split at a 12 to 1 ratio, so in reality a stock I bought for $7 a share is worth about $1.75 a share. I got the absolute shit kicked out of me on that one lol.
damn that sucks dude
do you guys know what company or do these have their own stocks? im kinda curious on how they are doing "broken coast" "flowr" "san rafael" they seem to be pretty high priced but actually primo bud thats generally liked by the public from what ive seen
and thats crazy that aurara isnt profitable they have all kinds of shit maybe thats the problem they invested so much into having everything and not everything makes big profits
and it sucks to say the standards for govt weed should honestly be set higher i bought some weed that was like almost 2 years old and all the trichomes were like 80% amber
i really feel like the cannabis sector can still be improved by a good margin you got some companies putting out enough weed from 1 grow that it lasts 2 years from quantity or lack of sales and companies that are small batch with fresh bud every couple of months which is way better trichomes start to lose their potency as they turn amber and they amber over time so 2 year old weed is a big no no
there is lot of variances in the product from companies right now and its rough you dont know wtf you are buying if its 2 months old 2 years old 15% or 21% cause the range can be like 14-22 which is fucking crazy you might get all .2 .3 buds in a 7g jar
i feel like once/if they sort that shit out its going to boom hard as fuck because who wouldnt want to buy legal govt weed thats good and a reasonable price and shipped to your door vs some dealer you met
like the sales went up during the pandemic but why? because people arent going to their dealers for weed they bought govt to get to door delivery and stay the fuck inside
large amount of this increase i think could be sustained with a better system but its not there
and some companies are straight ripping people off like HEXO i bought 3 3.5 jars from them the first one was 3.4 and pretty good bud the next 2 were a little older packaged different dates and both 3g bud .2 shake and 3.2 like the shit was purposely weighed like that
plus some of the ways they do their anti stuff for bugs and mold and shit destroys the taste its just to commercially grown they need to enforce small batch grows or something it seems to be a much better result
This post was edited by dragoneth on Jun 8 2020 08:55pm