Marijuana related stocks have been on a tear lately. After the HHA recommended the reclassification of pot’s level as a controlled substance. That lit a fuse that has seen weed stocks take off like a rocket.
MJ, a pot related ETF has nearly doubled in just couple weeks. And it doesn’t look to slow down any time soon.
MJ traded in the 20s a couple years back and while that may be a reach based on just a recommendation, it could reach for double digits realistically. The industry has been a boom town with more and more states legalizing marijuana for recreational use. but the lack of full blown federal legalization and a flood of businesses crowding the space has kept prices muted.
It has seemed that these stocks should have been one of the “I bought Google way back when it was cheap” stocks for a while and maybe it’s time has come.
Keep learning and trade wisely.
Market Wealth Daily