Why Weed Stocks are NOT the Next GameStop

Weed stocks have been rocketing in value this February, before crashing on Thursday. Reddit and the infamous /r/WallStreetBets forum got behind certain Canadian-based cannabis companies this last week (Canopy Growth Corp NASDAQ: CGC and Aphria Inc NASDAQ: APHA most notably) spurring 100% plus gains. Many investors are now worried that the large runup and crash has now burst a bubble like GameStop Corp. NYSE: GME before it.

Don't Gamble on Wall Street

February 12, 2021

Don't be fooled by the Reddit group WallStreetBets.


Yes, the group has been responsible for some major stock spikes!


But trading parabolic moves when the gains have already been made is a very risky game.

I'm a fundamentals investor looking for long term appreciation. Not just one-off bounces.


And I see a tech revolution incoming that will change the way we live our lives.


Billionaire investors like Jeff Bezos and Elon Musk are already in.
Bet on that and find out about this tech now

James West, CEO Midas Letter.
James West is a professional trader and a successful entrepreneur with over 10 years of experience in the financial markets.

Why Weed Stocks are NOT the Next GameStop

Weed stocks have been rocketing in value this February, before crashing on Thursday. Reddit and the infamous /r/WallStreetBets forum got behind certain Canadian-based cannabis companies this last week (Canopy Growth CorpNASDAQ: CGC and Aphria IncNASDAQ: APHA most notably) spurring 100% plus gains. Many investors are now worried that the large runup and crash has now burst a bubble like GameStop Corp. NYSE: GME before it.

However, the cannabis story differs entirely. This recent dip could be more a case of the sector suffering from its own success.

There has been great momentum in the sector for good reason. Weed stocks have all been buoyed with expectations of U.S. federal decriminalization and interstate cannabis commerce.

Watch the entire interview here for a full breakdown of the cannabis industry and its current trading patterns.

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