Like every investor, I've never been inclined towards weed stocks. Whatever the weed stocks did on the market, I never thought it was a good investment, mostly on a valuation basis.
I wasn't that smart. Anybody could see that, with a valuation of 25 billion dollars and no profits, Canopy growth was a strange investment. Even if the stock dropped a lot over the last year, it's still vastly overvalued in my opinion.
Recently, I went to a poker game hosted by my famous anonymous friend whom I initiated to stock markets.
He told me that he sold (with a loss) all his weed stocks for which he was so excited last year..
He also told me that he sold his MTY shares some time ago. Such as his Biogen shares (that went up something like 20% yesterday). Such as almost every good company I told him to invest in, instead of weed stocks.
But he didn't listen to me. He tried to speculate everywhere. And he seems to have sold almost all his positions with a loss. But he continues to be on the market.
Frankly, I don't understand how he sees investment. Well, actually, I know. He sees the market as a big casino and he gets his thrill from ups and downs. That's what he's looking for.
It doesn't hurt anybody expect his finances. If that keeps him out of heroin, rape and rampage, it's not a bad thing, after all.
It may be a good thing for you too, investors who'd like to rape kids. Please, continue to invest in weed stocks and bitcoin if it's sufficient to get your thrill. It's better for everybody that way.