Consumer-level investors in the legal cannabis sector were ecstatic last week as many cannabis stocks saw small percentage-point-increases in valuation following a long, long decline since this past January.
Many Canadian cannabis stocks like Aphria, Cronos, MariCann, and others began to increase late last week from record lows for the year, leaping up in some cases by several percentage points from these record lows.
Investors on stock boards like /r/weedstocks and Investorshub who bought into the industry at its peak in early January, when many of these stocks were valued at several times more than their current rate, were ecstatic to see any kind of upward trend after months of watching their life savings diminish from the record highs they stupidly bought in at.
“This’s it!” said one /r/weedstocks user by the name of /u/investingmylawnmowingmoney420. “No more of those negative shorter bashers trying to tank these stocks! It’s only a matter of time until these are all at five times what I paid and I own a boat!”
This comment was followed by dozens of replies saying things like ‘To the moon” and “Bruce Linton and Vic Neufeld are our Gods and Masters!”
At the current rate, these stock prices may very well climb back to where they were in January by some time mid summer just in time for a new wave of clueless consumer investors to jump in at peak value and then takes a bath when all the savvy investors again shift their resources elsewhere.
* Satire is recession-proof. Invest now!