An unwritten agreement that you made with yourself when you signed up to be in this industry was that volatility would punch you in the gut at times. I’m not too bothered with Canopy Growth being in the $8 range but any lower would bug me. It shouldn’t bug me given that I’d still be up but giving up all those gains is a stinger.
To put it back in perspective when I started this journey of investing in marijuana stocks I told myself that I was in it for the long run. I didn’t even expect Canopy Growth to be at $8 at this time. If these stocks just arrived to where they are now I would be insanely happy. It just goes to show that emotions are a victim of the current trajectory and not the destination. Damn you feelings.
The bright side is that legislation has been announced furthering the possibility of legalization. The bad side is that the number of publicly traded LPs has increased which dilutes the industry. I think I’m more worried about potential regret than I am of this sector not working out.