Smart investing is all about being in the right place at the right time, so do you think TLRY was a good buy when it hit $300? This move is all about FOMO and it has nothing to do with fundamentals. Who in their right mind would buy into a vertical move like this? Who was that greatest fool, thinking that the $300 price is a good deal?
The market punished these fools, with close to a 70% price crash below the $90 price level. My main interest is about the mania that has been surrounding a new industry, but some of these investors could have been sampling the product when they hit the “Buy” button when TLRY hit $300.
I do not give any investment advice on any single stocks that I post, and I have no holdings in pot-related companies at this time. I’ve had people ask me if it’s time to invest in pot stocks, and my simple answer is in the form of a question, “Do you have a trading account or investment account open”? The answer is usally, “No”. This just shows how insane any mania can get when people what to invest, that have never bought or sold any stock in their life!
I guess TLRY is in a bear market when it hit a 70% decline. Stories about pot shortages did not happen in Vancouver. Most of those dispenseries never missed a beat as they were open under municiple by-laws, not federal laws.