This one is the most embarrassing stock pick of them all. A classic penny stock pump & dump. At first I thought of this stock as such but they had some interesting projects, and then a reputable guy in the cannabis stock industry had some semi-supportive words for this company. This same guy had also been picking many winners that I had missed so I thought I found my guy. It’s very possible this guy was paid by LGC to mention some supportive words in an article because I don’t think any professional would semi-recommend this company for free.
The stock went from $0.12 to $1 then it fell like diarrhea — fast and disgustingly. I caught the falling piece of shit at $0.50. Once again, after having cashed out some big profits I became loose with my money. It fell back to $0.12 in no time.
- Don’t catch a falling knife especially if it has shit all over it. A falling blue chip stock ain’t so bad.
- In a volatile hot industry it’s best to stick with the leaders.
- 50% off a penny stock is not a great deal.
- a CFA designation and a nice suit don’t mean shit much of the time.
I’m not sure if this stock is a lost cause but I’m going to have to quadruple from where it is to get back to even. I’ll cut my losses if I get 3/4 of my money back.
Would I have told my friends to buy it? Hell no. I should have asked myself that before I pulled the trigger.