The market took a very brief break in the morning yesterday, then started to run up again. So seems to be today. The future points to a higher opening due to strong earnings.
Today I examine some marijuana stocks. Marijuana stocks are in the spotlight for quite a long time now. This is the industry I need to work on, together with EV stocks and 5G stocks. I also noticed a lot of run-ups happened in small biotech sectors. I am not sure if it is always the case for small biotech to skyrocket when a piece of tiny news comes to stir the water. Many of these biotech stocks have lost 80% or more of their historical value.
Yesterday, AUVI rose up to over 6 folds at one point and closed slightly below 3 folds. During the premarket this morning, it started to run up again. Some exuberant conversations on the Yahoo Finance page bragging about came in at 26 when the start was around 8 and the closing was 19. There were those who've made a fortune in one day, as well as those who lost two-thirds of their investment on this single stock.
For marijuana stocks: "Marijuana stocks have surged this year as investors anticipate wider acceptance of legal distribution of recreational products in the U.S." - Market Watch.
TLRY: this stock surged 40% yesterday to 42, it is trading at 53 this premarket. the rating is 2-12, which is totally beyond my rules for picking stocks. -- Watch
APHA: this surged 25% yesterday to 23, to 29 this premarket, the rating is 7-4, the price target is between 8 to 20.
PM: not on the same bandwagon with other small stocks
MO: same as above.
CGC: for rating 3-15, not for me. The price range is 58 - 16. The current price in the morning is 52. I am concerned about a stock with a wide price range, which implies that opinions on its growth are widely divided.
ACB: rating is 0-13. Price is 3-13. It currently trades at 18, a premarket runup of 18% already.
CARA; This one seems to be a good pick. It is a therapeutical company, rating 7-1, price 21-40. Currently, it sits at 20. This warrants a deeper dig later.
ZYNE: A candidate. price 4-9, currently at 6, rating 5-2.
ARNA: At first glance, a great company, with 15 buy ratings, a price range of 76 -160. It currently trades at 81. Not sure why it didn't take part in yesterday's hemp stocks bonanza.
SMG: rating 5-2, price 240 - 290. Right now it trades at 240. It had a great run-up all the years.
IIPR: A reit for medical-use cannabis facilities. 5-2, 160-250. Current price 215. I will pass this one.
TPB: a tabaco stock
HYFM: already very overpriced
GRWG: downgraded, price run up too much
GNLN: around highest price of 8,
CRON: 3-10 for rating, 3-8 for price range. currently sitting at 15
SWM:
"Your best way to ride this wave may be through exchange-traded funds." - Market Watch.
MJ - have TLRY, APHA, PM, MO.
MSOS
HMLSF
YOLO
POTX
THCX
Recall yesterday AUVI up run 600% at the highest. This moring it still run up 16% so far at 22, but far less than 32 the highest price reached yesterday.
