A Lot of Cannabis Investment Opportunities
I have been following cannabis stocks for more than 11 years, and I have never seen so many opportunities. I am not always bullish on cannabis stocks, but I am right now.
As I have discussed in the past, this is not the best outlet for me and my cannabis ideas. If you want to follow my thinking, there are lots of ways. I am part of Seeking Alpha. I publish an article each week on cannabis stocks there. You can access them, though you may be limited as to how many free articles you can read. The Seeking Alpha Premium is a pretty good way to read all the SA articles plus more features, and it's not that expensive. If you don't want to join, you can read my cannabis blogs free of charge. If you want to get the best access to me and are willing to pay for it, please join 420 Investor. Beyond Seeking Alpha, I run New Cannabis Ventures, which is free of charge to readers. One of the great features is the weekly newsletter.
I am writing today to extend upon what I wrote 11 days ago about which cannabis stocks you should buy. I went through the entire list of 23 stocks that I cover for my subscribers at 420 Investor. Since that piece, I have gotten less negative on Tilray Brands (TLRY). I wrote a piece last week for Seeking Alpha explaining why I am now Neutral after having a Strong Sell for a long time. The stock, at $1.19 at the time, has now rallied a bit. Take a look at the past three years, though:
I am not saying to buy TLRY. I am just saying that I am not saying to sell it. It could go up, but I think there are lots of other cannabis stocks that will go up more. Which ones? Well, see that last article!
The second change I have is Innovative Industrial Properties (IIPR), a REIT that trades on the NYSE. The stock plunged Friday, and I just wrote about it this weekend:
For those who can't access the article, here is the summary:
There are three other REITs that are publicly traded, and IIPR has been slammed in Q4 relative to the others:
I had been hoping that the old all-time low for the New Cannabis Ventures Global Cannabis Stock Index, set in October of 2023 at $6.93, would hold, but that level cracked this week, with the index setting a new all-time low of $6.75 early on Friday after having closed at 6.81 on Thursday. I am a fundamental analyst who has a great respect for technical analysis, and the cannabis sector had a big reversal on Friday in my view:
I think that this is a very good time to buy a big dip. Cannabis stocks, as measured by that index, are down 14.1% in 2024 and down more than 90% since early 2021. Here I am discussing the current situation on a panel discussion that was hosted by Schwab Network last week:
Good luck to all!
Alan Brochstein continues to ignore the Cannabis dispensary-driven business model which has not worked yet. The largest MSOs could not make a go of it in California, Colorado or Oregon. These states should be fertile ground for net-profit, but they aren't. Canopy Growth the largest Cannabis provider ever burned through 6 billion dollars before selling having to sell off assets. As an industry the Cannabis industry is in the crapper.
Alan further ignores that when Cannabis is rescheduled or nationally legalized the purchasing of Cannabis will move to online and dispensaries will not be needed.
I could go on and on about the lack of analysis from Alan. Alan mainly republishes what happens in the Cannabis marketplace.