It’s not as bad as it looks. In this account I used to own Canopy Growth and Aurora Cannabis at very low prices, and sold them at much higher prices. The saddest part of this account is that I had a 100% gain on Ianthus and CannTrust. The lesson? Don’t treat pot stocks like blue chip stocks.
What’s the sole holding that is green? Good old Royal Bank. Maybe the lesson here is to not buy pot stocks but I wouldn’t have quadrupled this account in 3 years if it wasn’t for pot stocks.
I have been phasing out of cannabis stocks. Hence my newly smallish positions in American MSOs. This may be my last run at buying the pot stock dip. The very easy money has probably been made. I still hold a somewhat significant amount of Canopy Growth in my RRSP account which I’m not feeling so hot about at the moment. I should have sold at $70 a few months ago. Although, I say such things every time it dips and then when it shoots up those feelings erase. I’m not too sure who is right.
Actually, the saddest part of this account is that it shows I bought LG.V stock.