A Mania is a Mania!

So…it seems like last year’s cryptocurrency mania has been displaced by cannabis mania.

leaf

I will express the same thoughts regarding cannabis as I did with crypto:  Manias never end well.  The people that end up getting wiped out are the individual retail investors, who tend to buy at the top and sell at the bottom.

Before you you get a case of FOMO (fear of missing out), please remember what happened with bitcoin and all the other cryptocurrencies.

Until next time, Wealthy Joes and Janes!

2 thoughts on “A Mania is a Mania!

  1. I think a difference between some of the cannabis companies and crypto is that the former has an actual product. For example, Hemp, Inc., a North Carolina Co. that (full disclosure) is my biggest bet among them, has a legitimate processing facility and it’s own product line with current sales.

    Others make or sell the farming equipment. Some are pot sellers with distribution deals in Rx chains. Some people will just place bets for the sake of not wanting to miss out, but I do think there is a serious chance to get rich, as people did with Aphria when it landed its distribution deal. Puration, Inc. just landed a deal with a wine & spirits chain in Texas that a friend who lives in Houston said is a pretty big deal down there. It’s still just a penny stock, but it went up 50% Friday as a result, and could (because it has a real product line with actual sales) wind up being among the millionaires of those who had a spare $10,000.

    Having said that, I have no idea if Puration, Inc., Hemp, or any of the others, are run by competent business people. Perhaps buying a used Subaru would have been better.

    Liked by 1 person

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