Coming Profitability Makes Pot Stocks a Win Over the Long Haul
In case you’ve missed it over the past few months, pot stocks are surging again… this time on the promise of potential profits on the horizon.
We saw a major sell-off Thursday, but that’s to be expected — not that sharp of course, but some selling is expected at tops — when stocks rip past previous highs the way pot stocks have.
I’ve done a couple of recent videos talking about the surge in pot stocks following the Georgia Senate runoffs, and I named several companies that have all since exploded to new highs. As I said, we’ve seen some backtracking, but I’m holding the line.
That’s because the overarching theme I’ve been painting is exactly the same. These cannabis companies are finally on their way to being profitable — sooner rather than later.
First, a quick look at the stocks I’ve discussed, which all took a big hit Thursday but still remain big gainers in a short period of time:
- Aphria Inc. (Nasdaq: APHA) — up 120% since Jan. 6.
- Canopy Growth Inc. (Nasdaq: CGC) — up 34% since Jan. 6.
- Trulieve Cannabis Corp. (OTCMKTS: TCNNF) — up 21% since Jan. 6.
- Village Farms International Inc. (Nasdaq: VFF) — up 11% since Feb. 4.
- * As of 2:30 p.m. Thursday
And I expect to see more to come in the future…
Why I’m Holding the Line on Surging Pot Stocks
WealthPress’ Jeff Yastine
I see more gains coming because the overall outlook for the sector continues to improve. Obviously, if the broader market itself heads south for a time, these stocks will fall with it. So you always have to keep that in mind in regard to the timing of these things.
But in addition to the outcome of the Georgia Senate races, we should soon see more clarification in the way of federal banking laws and the sorts of things that will have a big impact on the growth of these surging pot stocks.
There’s also another major element that will impact the bottom line of these companies — and your stocks. So check out my short video and let’s chat about surging pot stocks and why they should continue to move higher.
And as always, send your investing questions to jeff@yastine.com. Be sure to subscribe to my YouTube channel. You can also follow me on Twitter and Facebook.
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