Over the next couple of years, marijuana stocks represent a lucrative opportunity for investors.
Naïve investors think all they have to do is buy a few highly touted marijuana stocks. That could not be further from the truth. Astute investors who have been around know that some will make millions in marijuana stocks while others will lose everything.
The 11 pointers I gave to investors to become marijuana millionaires have become popular. To learn about the 11 pointers, please see “How to potentially become a marijuana millionaire, albeit carefully.” I have been reluctant to add to the 11 pointers but an occurrence has highlighted the importance of adding one. Let’s explore with the help of a chart.
Chart
• Pyxus International stock has skyrocketed.
• Pyxus started out as Dibrell Brothers in 1873. Apparently they were trading tobacco leaves.
• In February 2018, the company entered the Canadian cannabis market and the industrial hemp market.
• As shown on the chart, in September 2018, Pyxus disclosed details of its new strategy.
• Pyxus operates in four segments: tobacco, cannabis in Canada, industrial hemp and e-liquids.
• Pyxus International appears to be a fine company with a long history, good management, reasonably good finances and a good new strategy.
• Given the craziness that is going on in marijuana stocks and the company’s new strategy, an “up” move to the breakout line shown on the chart was not out of the ordinary.
• The chart shows that Pyxus stock broke out on a misleading analysis (not by the company).
• The chart shows a huge move in the stock, propelled by more misleading analyses and a short squeeze. To learn how to identify short-squeeze candidates that can provide big profits quickly, please see “Tilray is the poster boy of short-squeeze stock candidates — here’s how to find others.”
• Pyxus stock skyrocketed over the two-day period when other marijuana stocks did not do particularly well. Canopy Growth CGC achieved a first by exporting cannabis from Canada to the United States legally for medical research, but the stock did not skyrocket. The latest favorites of the momo (momentum) crowd New Age Beverages NBEV, and India Globalization Capital IGC have been falling. Even Tilray TLRY the poster boy of short squeezes, seems to be giving up the ghost.
Also during this period, the Dow Jones Industrial Average DJIA did not scream higher. Popular ETFs such as S&P 500 ETF SPY, Nasdaq 100 ETF QQQ and small-cap ETF IWM were also weak.
• It is clear that the move up in Pyxus stock is not related to a move in the marijuana stock group or the market…Read more at MarketWatch.
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