The good news this week is that the state of Connecticut appears close to marijuana legalization, as the state Senate passed legislation early Tuesday morning, with an unexpectedly close 19-17 vote. Today—the last day of the 2021 session—the bill heads to the House Representatives,...
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The big news this week is that Amazon will no longer screen most job applicants for marijuana use. Plus, the giant is supporting federal marijuana legalization. That’s one more step in the right direction.
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Ready to Rise
The good news is that quarterly reports from our marijuana companies continue to reveal an industry that’s booming. The figures below, reflecting the latest report from each company, show an average revenue growth rate, year-over-year, of 158%! And if you take the...
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As I write this morning, the market is selling off broadly, raising the question of whether this downtrend will gain real momentum. The truth is no one knows. What we do know is that the Dow is just seven trading days off its high,...
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As marijuana stocks continue to explode, exchange-traded funds want in on the action. Let's examine all 8 marijuana ETFs, and the 3 I like.
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Recent days have seen substantial selling pressures in the broad market, with growth stocks being particularly hard hit. But the good news is that stocks in the marijuana sector, which had previously corrected 50% from their February peak to their bottom in late or...
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The big news in the marijuana industry this week is that the Tilray/Aphria merger is complete, turning these two Canadian firms into the biggest marijuana company in the world—for now.
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Time For A Little More Buying
One of the many adages about investing in stocks says, “Never sell a dull market short.” The theory, basically, is that if the market isn’t going up or down, it’s likely to go up, given that that’s the trend...
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Today, for a change, I’ll cover the news first, and the investing advice second. In Illinois, marijuana taxes exceeded alcohol taxes in the first three months of 2021. Marijuana tax revenue amounted to $86,537,000 while alcohol taxes brought in $72,281,000. I expect the to...
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Nine weeks ago, as the marijuana sector was completing what looked like a climax top, I took the risky step of taking partial profits in ten of our stocks, moving to a 45% cash position.
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A quick look through the major marijuana stocks leads to an unsurprising conclusion: the sector remains in a correction.
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Waiting for a Buying Opportunity
Let’s start with the good news this week.
Fourth quarter results are in for all but one of our companies (Jushi) and they were terrific, showing average revenue growth from the year before of 167%—a number that would be even without...
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The marijuana sector, in general, remains in a correction. The high for the sector was six weeks ago, while the most recent bottom was two and a half weeks ago.
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The good news is that one of our stocks, Trulieve (TCNNF), closed at a record high yesterday. The bad news is that none of our other stocks did. The sector as a whole remains in the moderate correction that began five weeks ago, and continue...
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The Dow hit a new high today, but marijuana stocks didn’t; their correction, which was richly deserved, is now one month old. And the fact is this correction is likely to run further, mainly because the broad market still needs a correction.
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I’m tempted—I really am—to take some of our 46% cash position and move it back into marijuana stocks. Since the sector peaked three weeks ago, most of the stocks have had a decent pullback and now the best are moving up again, heading those...
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“Legal Weed Stocks Dip Despite New Jersey Governor Signing Recreational Cannabis Bill Into Law”
That was the headline on one of my news sources yesterday morning, implying that the action of the stocks in light of that legalization event was somehow illogical. But as know...
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As I’ve explained previously, I’ve become increasingly concerned that the blistering advance of the marijuana sector had progressed so far so fast that it was getting increasingly ripe for a correction. But as long as the stocks were advancing, I was happy to fully...
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The GameStop Affair last week offered great entertainment for those of us neither long nor short the stock, but in the end what does it mean? In my opinion, the market worked; I don’t see any real problems revealed (aside from naivety of of...
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2021 Kicks Off With a Bang
A funny thing happened while I was preparing this issue yesterday. Not funny ha-ha. Funny odd.
I was updating my performance tables and noticed that the performance of the Marijuana Index year-to-date was exactly the same as its performance all...
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