IntroductionI suggested in my article this past Thursday entitled Déjà Vu: Cannabis Stocks Soared 35%, On Average, Tuesday – Here’s Why that, if the past was prologue, then the jump in price was an opportunity to sell before the enthusiasm waned. Well, that enthusiasm did just that, dropping 19% by week’s end. Did you sell?Below is the extent to which the stocks in *munKNEE’s Canadian Cannabis LPs Portfolio and the American Cannabis MSOs Portfolio declined between their peaks on Tuesday and by the end of the week in ascending order:
- Average: DOWN 18.8%
ConclusionThe cannabis sector dropped 18.8% in the last 3 days and it probably has further to go based on historical data (see Déjà Vu: Cannabis Stocks Soared 35%, On Average, Tuesday – Here’s Why) so the question now is how much further it will drop before stabilizing. Time will tell. Stay tuned. More By This Author: Déjà Vu: Cannabis Stocks Soared 35%, On Average, Tuesday – Here’s Why
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April Recap: Canadian Cannabis LP Portfolio Jumped 8%
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