Weed stocks historically have been destroyer of wealth. I am sick and tired of people saying weed stocks are a long term play, buy and hold in weed stocks especially the ones like SNDL will take your portfolio down to 99% in couple of months. Even CGC has been down more than 60 percent from it's top before the pandemic even began. If you cannot hold this stock and diamond hand's it for more than 6+ months then GTFO.
APHA holders who bought before pre legalization and never averaged down just went positive only for 1-2 days this week. They 💎🙌 it for 3+ years.
For example take a look at this post. The Most Undervalue Company, this post is found in r/weedstocks when you sort it by top by all time. The user predicted a Stock Price to be 80+ in 2021 and current stock price is .017 cents. The post was created in when stock price was around $4.00 USD.
The only time people made money was during the runup of Canada Legalization. After Oct 2018 this was sell the news event and stocks started dropping. Since OCT 2018 - March 2020 Majority of the Favorite Weed Stocks had plummeted to 10-20 cents.
Lot's of discord and slack pump and dump group's are involved where the runup a stock and then drop the price. These people do the charts in youtube. If you are a normal investor who cannot spend the entire day day trading then you will loose your life savings.
Lets take a look at some popular weedstocks and how they are doing currently from 2018-2020.
M E D M E N it went from $6 to 10-20 cents in the above time frame.
I A N T H U F went from $6 to 10-30 cents in the above time frame.
CANTRUST_OR_CANT TRUST US basically did fraud, after a whistle blower complained about it the stock price went from $10 - 50 cents
charlotte web went from high $20 to $3.
Acreage Holding went from high $30 to $1.5 and bounced back.
I am not listing the absolute worst stocks from 2018/2019 time frame I am listing the ones that were very popular in r/weedstocks.
Even the ones with good earnings and management like TRUl, GTII, CRESCO, CURA and others went down to $2-$5 in march.
This is a highly speculative industry where the stocks are highly manipulated by day traders and others.
Weedstocks have destroyed more people lives in 3 years than WSB have destroyed in 8 years.
EDIT : For people complaining I have listed some of trashiest companies, please remember these we... keep reading on reddit ➡
Context: Most of us already know that Necron Destroyers have a pathological hatred for all biological life. However, most of us, like me, don't realise how disciplined and calculated they really are. That is why I chose this excerpt.
The following excerpt describes a unit of destroyers that were left on a planet for 4500 years. They never stopped killing.
>Destroyers started with the apex predators and worked their way down. The aeldari first, then the saurians, then the large carnivores. Anything below that was no threat to them, so they switched to the bottom of the food chain. Clear-cut the plant life, vaporising trees and ground-covering plants with great fan-arcs from their gauss blasters. Boiled the lakes and streams so no fresh water remained. They were mathematically thorough, ensuring no habitat or food source remained for the insects. Once the insects disappeared, the small amphibians and reptiles went within a few years, growing skeletal and desperate, until their leathery skins lay on the bare earth. A sad bag for brittle bones. These too the Destroyers atomised, because they knew that death could bring new life. [...]
>It was their thoroughness, Trazyn reflected, that had kept them from scouring the whole planet. They killed all organisms down to the microbes before moving on, and life was tenacious in this verdant archipelago. The geography, too, worked against them. On a great continent, their tactics could easily lead to wide-scale environmental collapse, the effects radiating outward as species migrated and fires spread. On an island, the damage was contained. But four thousand five hundred years was a long time, even to a necron. And in that time the Destroyers had migrated along the archipelago, heading south-west towards the mega-continent that covered the other hemisphere. Over three millennia they’d scoured two thousand of the archipelago’s ten thousand islands clean. Most were uninhabited by sentient life, and what habitants they had – aeldari, then human – did occasionally take one down. There were only twelve remaining when they reached the mainland. And the true slaughter began. [...]
>There were three of them. At least, fully operative. A fourth Trazyn had found a hundred leagues behind, his repulsor array torn from his body in a long-ago battle. Still, he pulled his legless form across the scorched dirt, blasting insects to ash with his malfunctioning gauss cannon. **Pulverising worms with