IntroductionI suggested in my article this past Thursday entitled Déjà Vu: Cannabis Stocks Soared 35%, On Average, Tuesday – Here’s Why that, if the past was prologue, then the jump in price was an opportunity to sell before the enthusiasm waned. Well, that enthusiasm did just that, dropping 19% by week’s end. Did you sell?Below is the extent to which the stocks in *munKNEE’s Canadian Cannabis LPs Portfolio and the American Cannabis MSOs Portfolio declined between their peaks on Tuesday and by the end of the week in ascending order:
- Average: DOWN 18.8%
ConclusionThe cannabis sector dropped 18.8% in the last 3 days and it probably has further to go based on historical data (see here) so the question now is how much further it will drop before stabilizing. Time will tell. Stay tuned. More By This Author:Déjà Vu: Cannabis Stocks Soared 35%, On Average, Tuesday – Here’s Why
April Recap: Small Cap AI Stocks Portfolio Dropped 23%
April Recap: Canadian Cannabis LP Portfolio Jumped 8%
