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!