That’s main reason for high shorting. These valuations and Market Caps just makes no sense; even more evident with the financial losses. They’re running like BioTech, some of those stocks are $100+ with zero sales, LOL. Hey!!! It’s whatever someone is willing to pay. Cannabis has always been a speculation play.
Don’t get me wrong... I made my share of MONEY. Especially in 2012/2103 where I cleared six-figures. ACB hasn’t been too bad either.
KEY with these volatility plays is not to fall in love with them (never marry a stock). It makes no sense to buy low, hold at the high peaks (like when ACB was in the 10’s), only to ride it back down to 5’s and 6’s.
WE ALL LEARN the hard way. It’s a painful and expensive learning experience but we all experience it - no matter who you are.
That’s why a journal is a great tool to have to identify and learn from these items. Also critical to have a very clear and specific trading plan with rules that you must follow 100% no 2nd guessing. Consistently and Money Management is the key.
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