Why Cannabis Stocks were Dropping

Discussion in 'Wall St. News' started by Option_Attack, Dec 4, 2019 at 9:33 AM.

  1. What's next, Snoop quitting *shudders*? :D


    Willie Nelson has a brand of pot named after him, but he says he no longer smokes marijuana—or anything else. The 86-year-old singer tells KSAT that he has been experiencing breathing-related health problems lately so he has started taking better care of himself. "I have abused my lungs quite a bit in the past, so breathing is a little more difficult these days and I have to be careful," he says. "I started smoking cedar bark, went from that to cigarettes to whatever," he adds. "And that almost killed me." Nelson, who smoked his first joint in 1954, said earlier this year that pot probably "saved his life" when he was younger by helping him cut back on drinking, USA Today reports. He says touring is helping him stay healthy and he has no intention of giving it up


    https://www.newser.com/story/283901/willie-nelson-has-given-up-smoking-pot.html
     
  2. Pot stocks are dropping because the initial euphoria about them has been supplanted with the reality that pot is a commodity.... like corn. Nothing you can do to make it "exclusive" or "boutique" to justify marking it up to a premium price/margin.
     
    Here4money likes this.
  3. MrMuppet

    MrMuppet

    I guess they were too high
     
    Nobert, zdreg and Scataphagos like this.
  4. clavell

    clavell

  5. Nobert

    Nobert

    When masses takes word visionary in a wrong way.

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    Last edited: Dec 4, 2019 at 3:33 PM
  6. In a nutshell, supply sat on demands head. It was either Aurora or Canopy growth, I forget which, but they missed earnings because they had to drop their prices 50%. Two weeks ago, I saw some news on TV about farmers who had cultivated and made quality acreage available to cannabis growers, and there were No takers. With decriminalization and legalization for personal use in a lot of states, a lot of money can be saved just by planting 2 or 3 seeds in the ground. If you have a social life, you can probably get it for free almost anytime you want.
     
    Nobert likes this.
  7. Nobert

    Nobert

    Beautiful, how it fits to Dalio's ,,just another one of those '', even the tulip mania was hundreds of years ago.
     
    Last edited: Dec 4, 2019 at 5:12 PM
  8. Overnight

    Overnight

    Cannabis stocks will go up when it is legalized on the Fed level in the USA. I have always believed this, and always will.
     
    Nobert likes this.
  9. Metamega

    Metamega

    Way large population south of the border of me, but here in Canada doesn't seem like the numbers are up. Know most provinces that have kept the control of sales under their own corporations have been losing money steadily. My friends who do smoke still source it from online retailers they always we're with their prescriptions that we're super easy to get to begin with.

    I know my provinces retail stores are way over street value. Leave it to the government to lose money selling marijuana.

    Looking back though before they passed laws here, the way opposition was acting you'd think the country was going to turn into a cheech and chong movie. Turns out, those who smoke keep smoking, and those that didn't maybe tried it.

    A lot of people I know are using CBD oil for various ailments and swear by it.
     
  10. maxpi

    maxpi

    Mexico very recently changed their laws about growing pot. They will be serious price competition for U.S. growers.