We’ve got an exciting new segment for you today, guys: “Fade That Move!” A segment where we give a contrarian viewpoint to some big moves that happened in the markets. Today’s topic: the pot stock market crash.
So how did we end up with a crash instead?
Well, it may be because pot stocks like Tilray Inc. (Nasdaq: TLRY) were the latest suggested target of the infamous WallStreetBets crew from Reddit.
Due to its high short-interest ratios and the pending merger between Tilray and Aphria Inc. (Nasdaq: APHA), some on social media began calling for pot stocks to be the next short squeeze.
The markets got ahead of themselves, though, and the pot stock market crashed.
For many, the pot stock market crash complicates things.
How can you nibble on a stock that just took as massive of a dive as that?
Well, you have to remember this happened a couple of years ago as well. In 2018 and 2019, cannabis stocks fell hard, with some analysts going so far as to say that they would never bounce back.
That wasn’t the case.
Think back to when the “dot-com” bubble burst in the early 2000s. The companies that managed to come back again, like Amazon.com Inc. (Nasdaq: AMZN), are still around 20 years later and are the biggest internet stocks in the world.
We’re not saying Tilray is going to be the next Amazon… But the signs are positive for companies that can come back from a big crash like the one we saw two years ago.
So what should you do? Check out our first segment of “Fade That Move!” to see what we think of the pot stock market crash going forward.
Feel free to email your trading questions to firstname.lastname@example.org and make sure to subscribe to my YouTube channel.
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