My take on the MJ Sector:
My portfolio of some two-dozen MJ stocks was dancing around $30,000 on the day before election-day 2016. Today they have a total value of just-over $3000!
Every state in the Union can legalize the weed, both medicinal and recreational, but until such time as companies can get a checking account in a national bank without fear of violating federal prohibitions the "boom" will be forestalled.
IMHO I suspect that the brouhaha over MJ Stocks is nothing but an effort, by opportunists, to capitalize on the finite "window" in time just after de-criminalization at the federal level is ordered.
Big Tobacco pours millions into this administration's PACs and they are gearing-up for the day pot cigarettes can be produced en masse without fear of repercussions. Why would you invest in a startup company, hoping for windfall profits in a new market, when you already have huge corporations standing at-the-ready to dive into the competition? Who can mass produce cigarettes faster and cheaper than a tobacco company?
Someone once said, "What goes around comes around" and the monumental losses, endured by big tobacco over the lung cancer scare, are about to be recouped.
There will probably be that small "window" in which investors can reap profits from these fledgling companies but only as a result of scalping, so don't get comfortable.
