Joined
·
3,773 Posts
Most likely not. You'd have to be in the same unventilated & confined room of people smoking high-THC marijuana.
Absolutely!
Marijuana ETF - HMMJ
241 - 260 of 289 Posts
Joined
·
25,252 Posts
Thanks guys. Maybe I've already inhaled too much. See: Daytrading experiment
Joined
·
3,290 Posts
Nice little run lately. I put some play money in this. Up 20%.
Joined
·
25,252 Posts
Wow thanks I didn't even notice this has started running again.
There really seem to be several "mania" themes happening simultaneously. There's electric vehicles/batteries, genomics, and marijuana ... all rallying insanely at the same time.
If there is a belief that central banks will keep fuelling easy money and risk taking, and if HMMJ only started rallying recently, then it's possible it has a ton of upside.
Joined
·
3,290 Posts
I think some US states are moving to legalizing. NY?
Joined
·
25,252 Posts
My theory is that it has nothing to do with news or underlying business conditions. I think it has much more to do with a general market mania which is emerging.
If you look at several extremely hot things (Bitcoin ETFs, electric vehicle stocks like TSLA, FCEL, and ARKK) you'll see that enthusiasm for all of them has increased significantly in November and has been accelerating since.
HMMJ shows the same pattern. And it has a history of coinciding with Bitcoin strength during a previous bubble period, so I believe HMMJ (like the things above I mentioned) are all part of a general market mania.
Joined
·
3,773 Posts
Better say that everything is hot.
EV? Hot
Cryptocurrencies? Hot
Blockchain? Hot
Clean energy? Hot
Semiconductors? Hot
Telemedicine? Hot
Genomics? Hot
Work from home? Hot
Cloud computing? Hot
Cybersecurity? Hot
Online entertainment? Hot
Advertisement? Hot
Joined
·
25,252 Posts
It's true that the whole market is very hot, but certain pockets are seeing extreme movements and that's what I'm pointing out. Marijuana could be (becoming) one of these pockets.
Have fun!
Joined
·
3,290 Posts
Up another 8% today.
Joined
·
3,773 Posts
My theory is that @Money172375 is right. When did it start moving? November 3rd, 2020.
Then, you may be right about how strong it is moving. But that strength could be justified considering more and more legalization in the US. That's opening a much bigger market.
Growth investing is more forward-looking. It's about opportunities, financial growth, disruptive innovation.
Value investing is more backward-looking. It's about mispriced stocks based on their history and peers.
(That's oversimplified)
Growth is simply much harder to grasp and to price.
Joined
·
25,252 Posts
Nobody really knows of course. The great thing is that we have a marketplace where everyone can put their investment theses to the test.
If someone really believes we are entering a brand new world for electric vehicles and marijuana, and that valuations of those stocks look fine today, then you should be able to make a ton of money buying into TSLA, NIO, PLUG, FCEL, BLDP, and HMMJ today. You'll be rich!
My thesis is that there's currently a broad-reaching bubble mania fuelled by extreme stimulus, which is leading to excessive greed and risk taking across a broad range of things. I think that recent movements in HMMJ, EV stocks and BTC are tied to this mania. They could of course continue for months or years. Because I believe it's a mania, I am firmly sticking to my existing, more broadly diversified portfolio (stock indexes, diversified stock picks, bonds, GICs, gold) without buying into any of the current hypes. I believe that this will give better long term results with less volatility.
Joined
·
3,773 Posts
I'll admit that I do believe that NASDAQ is overvalued by about 20%. If it's the start of a bubble, it could continue for 2 years maybe. Personally, I expect a correction on NASDAQ.
S&P 500 seems no more than 5% overvalued, so it's just usual volatility.
Unfortunately, I still have no strategy to evaluate the potential overvaluation of a specific industry other than gut-feeling.
Joined
·
3,290 Posts
Up 12% today. Nice little run lately.
Joined
·
25,252 Posts
Insane rally here! Congrats... are you still long?
Notice how well the 200 day moving average [red line below] works as a crude, but usually effective, indicator of whether you are in bull or bear mode.
Joined
·
3,290 Posts
Yes, it’s a long term hold for me. I’m up 60% but interested in seeing what happens in the US.
Joined
·
3,773 Posts
I'm currently watching AYR-A.CN
Could be the next stock I'll buy once I have some money available.
Could be the next stock I'll buy once I have some money available.
Joined
·
25,252 Posts
What do you think @MrBlackhill will HMMJ go "to da moon"?
Maybe Elon Musk can start tweeting about the sector? Rocket ships and marijuana, that's his thing isn't it.
Maybe Elon Musk can start tweeting about the sector? Rocket ships and marijuana, that's his thing isn't it.
Joined
·
3,773 Posts
No, simply that legalization in the US would be beneficial.
241 - 260 of 289 Posts
