Cannabis stocks are getting crushed, but I’m not sweating it.
After all, three years ago I was screaming from the rooftops to buy a handful of solid legal cannabis stocks that I knew were insanely undervalued considering the undercurrent of legalization efforts that I knew were coming.
If you listened to me, you’re sitting on massive gains. So massive, in fact, that this recent correction in legal cannabis stocks (which we all knew was coming) is not causing you much distress. The fact is, you bought Canopy Growth Corporation (TSX: WEED) at $1.60, OrganiGram (TSX-V: OGI) at $0.40, and Aphria, Inc. (TSX: APH) at $1.13
Some of you have since sold those stocks, and others are simply in it for the long haul.
Either way, despite the recent correction in the sector, we’re still doing quite well. In fact, because of this correction, we’re now looking to go in again and scoop up a few bargains.
In terms of long-term investment opportunities, we remain bullish on the following:
- Canopy Growth Corporation (TSX: WEED)
- Aphria, Inc. (TSX: APH)
- OrganiGram Holdings (TSX-V: OGI)
- Emblem, Corp. (TSX-V: EMC)
- Emerald Health (TSX-V: EMH)
- True Leaf Medicine (CSE: MJ)
In terms of some nice trading opportunities, consider the following stocks that are now moving into oversold territory …
- Emerald Health (TSX-V: EMH)
- Hydropothecary (TSX-V: THCX)
- MassRoots (OTCBB: MSRT)
- The Canadian Bioceutical Corporation (CSE: BCC)
The truth is, the legal cannabis space was never one without significant risk. And this remains to be true. That being said, the potential for huge gains in this sector is also very real. But as with any investment, nothing goes up forever. Cannabis stocks are simply selling off because they shot up too high, too fast. But make no mistake, the legal cannabis industry is still one of the best investment opportunities of the decade. And we’ll continue to profit from it every step of the way.
