LOL. I just came on here to post that and you beat me to it. I am sensing a bit of cynicism in the market regarding these MM plays at the moment. ZYB failed to launch and CMY looks to be stuttering even though it is clearly an attempt to pump the share prices in an almost identical way to QBL and SCU. There is a lot of talk at the moment about Canada imminently announcing the lifting of cannabis prohibition. Buyer beware.
In my mind I say avoid all of the Australian cannabis stocks for the next two to three years. Many of them will likely go bankrupt eventually. Better to wait until a few actually start generating a track record of sales and profits so you can sort out the wheat from the chaff. Its like investing in U.S.A. Internet stocks in the 1990s. How many people would have been smart enough to pick out Amazon, Google and Microsoft from among the hundreds of other tech companies that went bust? For example you could have waited until Google became profitable and dominant and bought the shares and still done well. You do not have to get in on the ground floor.
imo everything has a cycle. Look at Lithium stocks Pls Ore And Gxy have been falling from grace. (I am so tired with these) Cobalt stocks have also been getting cold feet. Follow money market. Pick the weed stocks (AC8, CPH, MMJ and MXC) that are backed by big $$ insto. Not guarantee but at least there is a slightly comfort zone on landing. And...cannabis industry is getting interesting esp today's news from Canada PM. Good luck!
So far I've ridden MXC up and then down and now am stuck with it, but still long term hopeful. I have done well with ZLD, not sure if I should take a profit yet. I haven't looked at the others but think it may be time to look at something that still has a potential to run.
Creso seem to be the only one with decent annoucements with acquisitions in Canada, distributions and partnership deals in Switzerland and prodct development. With Creso I would be keeping an eye on Botanix (BOT). Leadership structure and and business acumen seem to be on point with some very promising trial results. I bought these to dump a while ago but I'm going to hold these for a while. Auscann seem to be doing ok with the licencing. And will have a strong backing due to this. I also hold MXC but they seem to be pissing into the wind lately
Get a trading platform for example CommSec. CommSec is good for new people to trading as it is very easy to use. Select the company you are interested in after researching everything about them. They will have an ASX code for ease of finding them. For example Botanix is BOT Buy shares and sell higher later is the idea lol. For each trade,buying and selling you pay a trade cost for the pleasure. $29.95 if you use your ordinary account for the money to be direct debited out of or $9.95 (transaction under $1,000) if you use a CDIA account. A CDIA is just another bank account designated to stock money. It is basically like any other normal bank account.
Those prices are disgusting and id say especially so for newbies. Many years ago when i first took an interest in stocks i stupidly used ANZ to buy and sell and back then it was around $29 per trade. Luckily Australia has access to many other trading platforms ( we in NZ do not have as many) and you can get the trade price down around the $5 mark. I shall not suggest any platforms but a simple google search and may be a thread post here will show some great options. (Options,LOL)
Bit of a buzz building around pot stocks at the moment. The whole sector looks like it's going on a run. Are we expecting any new legislation?
The last 2-3 weeks have been alright. Im hold MXC, CPH and BOT and all have been up recently steadily climbing with MXC taking a big step up. However the last 2 days there has been some decline. Also there is a new stock top put on the watch list which just came on the ASX…. CP1 I also never had THC on my pot watch list as I found it to be more or an agricultural reticulation company who jumped on the band wagon than anything else when reading about them when the first came about. My loss
Some very welcomed interest in the pot stocks today and gains set to continue tomorrow with MXC in particular. Additional cultivation licences are supposed to have been granted (4), but have not found any proof apart from speculative gibber gabber. As per my above post there is some faster movement now. The next few days will be interesting as to how it plays out and why.
Some infographics I put together showing current market cap of main Cannabis stocks on ASX: Treemap showing mkt cap change and overall sector market cap since 30 June 2007: