The Devil's Lettuce

Look, let's preface this by saying I don't smoke. I've never smoked, and I don't encourage anyone to do it. Now that we got that out of the way lets talk about MJ. The MJ sector is honestly one of my favorites at the moment. I had a ton of hype during the COVID comeback, and then sold off lightning fast when the recession started rearing its head.

I have a weed watchlist on my main trading account to watch what the sector does each day. Let me tell you that these last few months have been beaten down quite heavily. You have stocks that had a high of $70 plus, 10x trading now for $5. That is the beauty of a bear market and it does not hold back if a stock is inflated beyond its value. Even some value stocks took a hit with how high inflation is speculated to go. Because of these circumstances there are a number of these stocks that I am investing in now because I see a strong future for them if weed is ever legalized federally.

I will talk about a few in this post but I'm also going to do a deep dive on TikTok into my favorite ones and why. Firstly, one of the most popular is that of Tilray. It also happens to be the screenshot I used for this post as its wild to see what the chart shows about this companies run and dump. Now if you feel any guilt investing in these kinds of stocks, there is no shame in that. I personally don't invest in any cigarette companies (Even though some of them have insane dividends and dividend history) because I don't agree with that industry and thus feel bad about supporting it even with a small holding. Like I said earlier I don't smoke weed, but I think that its much less harmful than cigarettes and the data on that backs my opinion, though I don't think its good let's be clear on that.

Besides Tilray, there is a smaller company that is in the OTC markets. The name is Trulieve and the ticker is $TCNNF. Because this one is on the OTC market you can't trade it without a special broker like Fidelity or Vanguard. This is one reason I think its a crazy good opportunity. They have many popular products sold mostly on the South East coast of the US. This allows them to be a candidate for either a merger, or a buyout from a larger company with some cash and a drive for extra revenue. TCNNF is also beaten down though not nearly as bad as Tilray.

These stocks offer a wild amount of possibility if weed is ever fully legalized, which I believe it will be within my lifetime. Even if it isn't this sector has had a number of crazy rallies across the board. I would keep an eye on these two companies closely and see if it fits your trading style. Keep track of any laws being created or removed that might ignite this sector! I'll do some more deep diving into these in my free time and post a full DD on it, although you should always do your own DD! Maybe I should do a post on doing DD first...oh well we will see what happens! Anyways I am off as I have to wake up at 4am tomorrow for work. Good luck traders and thanks for reading!

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-Spence

Tilray 5 year chart - down 97.34% due to the run and dump.