(Updates story first published July 18 to add Tilray’s IPO.) Money is to be made in marijuana stocks in the long run. But the recent buzz may be overdone. Canada’s Tilray
TLRY, +0.00%[1]
has become the first cannabis company to conduct a U.S. IPO. The shares were priced at $17 per share, higher than expectations due to oversubscription. The stock has soared after it started trading Thursday for the first time. There may be sympathy plays in other cannabis stocks for a short-term trade. But don’t let your guard down based on sentiment around Tilray’s stock. Markets are not simple when investing for the long term. Investors need expert guidance. Not only are investors not getting needed guidance, they are getting burned by supposed gurus. Read on for the proof. Let’s start with two charts. Two charts Please click here[2] for an annotated chart of marijuana stock Canopy Growth
CGC, -2.10%[3]
Please click here[4] for an annotated chart of marijuana stock Neptune Technologies
NEPT, -2.95%[5]
Please note the following from the charts: • Canopy Growth stock ran up on excitement about the legalization of marijuana in Canada, and many gurus are urging investors to buy this stock as a once-in-a-lifetime opportunity. • The Arora Report made a negative call on Canopy Growth near the high when most gurus were pounding the table to buy marijuana stocks. I received some hate mail but nothing like when I gave a signal to sell the gold ETF
GLD, -0.96%[6]
and silver ETF
SLV, -1.71%[7]
at their highs. Please see “Investors are making stoner moves by buying marijuana stocks at the wrong time[8].” • Neptune Technologies ran up on excitement over a deal with Canopy Growth. • The chart shows that The Arora Report not only made a negative call, but short-sold Neptune Technologies near the highs. • Both Canopy Growth and Neptune Technologies have significantly fallen since The Arora Report’s negative calls. • The charts show that the smart money (professional investors) was selling near the highs. • When The Arora Report gives a signal, it almost... Tilray’s IPO is creating a buzz, but don’t overspend on marijuana stocks
- Category: Economics
(Updates story first published July 18 to add Tilray’s IPO.) Money is to be made in marijuana stocks in the long run. But the recent buzz may be overdone. Canada’s Tilray
TLRY, +0.00%[1]
has become the first cannabis company to conduct a U.S. IPO. The shares were priced at $17 per share, higher than expectations due to oversubscription. The stock has soared after it started trading Thursday for the first time. There may be sympathy plays in other cannabis stocks for a short-term trade. But don’t let your guard down based on sentiment around Tilray’s stock. Markets are not simple when investing for the long term. Investors need expert guidance. Not only are investors not getting needed guidance, they are getting burned by supposed gurus. Read on for the proof. Let’s start with two charts. Two charts Please click here[2] for an annotated chart of marijuana stock Canopy Growth
CGC, -2.10%[3]
Please click here[4] for an annotated chart of marijuana stock Neptune Technologies
NEPT, -2.95%[5]
Please note the following from the charts: • Canopy Growth stock ran up on excitement about the legalization of marijuana in Canada, and many gurus are urging investors to buy this stock as a once-in-a-lifetime opportunity. • The Arora Report made a negative call on Canopy Growth near the high when most gurus were pounding the table to buy marijuana stocks. I received some hate mail but nothing like when I gave a signal to sell the gold ETF
GLD, -0.96%[6]
and silver ETF
SLV, -1.71%[7]
at their highs. Please see “Investors are making stoner moves by buying marijuana stocks at the wrong time[8].” • Neptune Technologies ran up on excitement over a deal with Canopy Growth. • The chart shows that The Arora Report not only made a negative call, but short-sold Neptune Technologies near the highs. • Both Canopy Growth and Neptune Technologies have significantly fallen since The Arora Report’s negative calls. • The charts show that the smart money (professional investors) was selling near the highs. • When The Arora Report gives a signal, it almost...