Cannabis Portfolio Update. Maricann…BOO

Well, my Maricann endeavour hasn’t gone so well. After an announcement of a not-so-great financing deal and a delayed damaged greenhouse incident the stock took a HUGE dive. The lesson?

Even though Maricann would appear to be the best medium size LP it lacks popularity, uniqueness and cash. This industry already carries a high risk and the lower you go on the LP chain the more risk you add on. Anything can happen to a new company in a new industry. I’m sticking to the big 4 when it comes to trading and only at lower than average prices. Trading often gets me nowhere with effort. It often ends up being that I would have been better off doing nothing. Patience is the key. Don’t let the FOMO get the better of you.

Things are looking up in the cannabis sector. The good news just keeps rolling out. Any news that strengthens the road to legalization is a plus. The rumour is that Alberta and another province will be announcing their cannabis regulations this fall. I get the feeling that Canopy Growth and Aurora are going to have a positive earnings report this fall because of oil sales. I added a few hundred shares of Canopy at $8.40 recently and lucky that I did. Sometimes you get lucky and the stock starts to soar the day you buy it. With the stock price being $10 a share I should be dancing in my underwear after the pummeling it took in the spring and summer.

CGC, CGC, CGC, we will we will rock you!

 

 

Making All the Green Choices

In my last post I told you about some of my recent trades in the Canadian marijuana sector. Phewww….thank god that I made those moves..for now anyway.

I sold 2800 shares of Aurora Cannabis at $2.72 about 2 weeks ago and the price has dropped to $2.39.

2000 shares of OGI were traded for 2000 shares of Maricann. Organigram dropped almost .30 cents from where I sold it. Maricann went up 7%.

Supreme Pharmaceuticals got sold at $1.30. That same day I sold, it dropped 5%. As we speak today it’s dropped even further to $1.16.

The Midas touch! All of this means I have CASH! Not too long ago I was making all the wrong moves.

If Organigram or Aurora drop another 5-10% then I’ll probably pick some shares up. I’m okay with buying Aphria and Aurora when their market cap is in the 600 million range not the 900.

No trading in Canada tomorrow as it’s a holiday. Man, I used to hate Monday to Friday, now I look forward to it. Life is good.