The midterm elections were great for marijuana.
Michigan, with 10 million residents, approved the recreational use of marijuana. Missouri and Utah approved its medical use. Longtime Texas Rep. Pete Sessions, who consistently blocked pro-marijuana votes, was defeated.
Those are great wins, but the biggest prize is still ahead: federal legalization. There is no doubt that some investors will make millions in marijuana, but the hard truth is that many more will lose money due to high volatility, pump-and-dump schemes and faulty analysis. ( Read: “How to potentially become a marijuana millionaire, albeit carefully.”) Let’s examine the issue with the help of a chart.
Please click here for an annotated chart of Canopy Growth CGC stock. Please note the following:
• Canopy Growth is the bluest of the blue-chips of marijuana stocks. The Arora Report designated this stock as a core position. It has been added to our model portfolio, which contains stocks such as Apple AAPL, +1.35% Facebook FB, Google GOOG, GOOGL and Walmart WMT.
• Canopy Growth is more stable than Aurora Cannabis ACB, Aphria APHA, Cronos CRON and Tilray TLRY. It is more stable than less popular stocks such as The Green Organic Dutchman Holdings TGODF, New Age Beverages NBEV, MedMen MMNFF and Liberty Health LHSIF.
• The chart shows that even the most stable stock in the marijuana space has shown extreme volatility.
• The chart shows The Arora Report sell signal right at the top of the prior swing. Subsequently the stock lost 34% of its value.
• The chart shows The Arora Report buy signal. Subsequently the stock gained as much as 105%.
• The chart shows The Arora Report partial sell signals.
• The chart shows that in the present swing, the stock lost as much as 46%.
• During the big selloff, the stock dipped into The Arora Report buy zone that given in advance.
• The chart shows the big up move in the stock after it dipped into The Arora Report buy zone in anticipation of victories in the midterm election.
We have previously shared the following with our subscribers just prior to the midterm elections:
• When Canada voted to legalize marijuana, marijuana stocks fell.
• When Canada legalized marijuana, marijuana stocks fell…Read more at MarketWatch.
Act Now If You Are Serious About Making Millions In Marijuana
The volatility in marijuana stocks underscores the reality that those who are serious about making millions in marijuana need more knowledge and skills to be successful. While knowledgeable investors will make millions, those with less skills will lose their shirts.
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