Post by DoctorDisaster on Feb 26, 2021 8:06:31 GMT -5
Stock that is.I grow my own so I don't have to buy it.I bought the stock(APHA and CRLBF) when I sold my Philip Morris shares.I figured hey,I quit smoking tobacco.That means anyone can...and should.I was smoking over a pack a day.At close to $12 a pack here in the Empire State,that's a lot of loosing tickets.I figure it's a win win situation,I was all giggly when it (APHA) was up almost 300% but it's landed back down to earth.Still on the plus side but I'm not getting rich on it....yet.When the NY market opens that will be a good shot in the arm.Either that or I'll sell my overstock .One way or another I'm cashing in on this .
I've looked at different companies involved in pot industry. My issue right now is that it is way too early for these companies to get earnings, and this is what I'm looking for with my retirement portfolio. If you don't care about earnings, and want growth, then it can be a smart play - but which ones to pick up and which ones will be bought up by stronger companies?
1hooper's comment on the buildings is also a good move if they are a REIT which provides a large percentage of profits towards dividends.
Post by unusualpete on Feb 26, 2021 21:50:20 GMT -5
my maiden voyage into the stock market was recent and influenced primarily by the pot industry. an acquaintance runs a huge weed farm. caterpillar salespeople were the only reps making house calls to his farm and other weed farms in the county. they told him outright that they sought to be the 'farm machinery provider to the legal marijuana industry.' now that's a pitch with a future. i purchased 20 shares at 160 per. i'll hold on for another 9 months hoping to make 1k pretax from the 3200 put at risk. here's hoping. closed at 215.88 today.
Bro has a liquor store friend who owns stores in Texas and New Mexico. Pretty smart guy. Bought liquor store, built and attached a bank to it and cashes checks for all the Mexican worker's checks that gets sent back to their families in Mexico. In New Mexico, he bought land and leases out acerage for others to grow weed on! Made most of his $ owning cattle feed yards.
I was a pack & a half Kool cig smoker for 20 years but bypass heart surgery ended that habit in 1993. Hello weed!
Post by unusualpete on Feb 27, 2021 13:11:52 GMT -5
didn't make a sell order, hooper. inexperienced. buddy advised me to wait an entire orbit, otherwise i'll have to pay cap gains rake as well as standard rake. i'd be movin' on if not for that. let's see where we are at xmas. feels like beginner's luck, but you never know.