Reefer Madness, Canadian Style!

The Marijuana market in Canada has imploded as the legal supply side has already caught up to the legal demand side. New growers have flooded the markets, and most of them will disappear if their growing costs cannot compete with the top growers.

The wholesale prices of marijuana have already been crashing for several years, which is a main indicator that supply is flooding the markets.

The vertical move of HMMJ was suspicious the first time I saw it, as it’s not a good thing to jump on a bullish bandwagon after it already has gone vertical.

HMMJ has just about reached the previous 4t wave dip I had mentioned, but this all means very little in the big scope of things. This could all “flat line”  if it turns into a one hit wonder. Tulip Mania was a one hit wonder so Reefer Madness could also be another one hit wonder.

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