MedReleaf: Two Days After the IPO

“Damn it, I knew I should have bought it.” At the $7 range it was said to be a “screaming buy” by marijuana stocks researcher, Alan Brochstein. Unfortunately for some, the recent doom and gloom of the industry may have stopped them from picking this one up. In terms of revenue MedReleaf(LEAF) is an equal rival to Canopy Growth.

MedReleaf is now hovering in the low $9 range meaning us chumps missed out on about a 20% gain. Been there done that but it never feels good. The way I see it is that at $7.50 even if it went lower the price would eventually get back to $7.50. In the weed space, MedReleaf is a solid company being one of the early LPs providing medical marijuana since 2014. The experience, quality of products and attractive valuation should have made it almost a no-brainer. But when the rest of the space are at their recent depressing lows it’s hard to pull the trigger. In this type of environment many can’t help but think, “maybe it will go lower.”

 

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