Analysis originally distributed on April 28, 2018 By: Michael Vodicka of Cannabis Stock Trades
Investing in cannabis stocks is exciting and can be very lucrative. However, given their volatility, it is important to keep these 7 tips in mind to confidently and successfully leverage this explosive sector.
1 – Create Realistic Expectations:
The legal cannabis industry is one of the most exciting investments I’ve ever been around in 17 years of trading and investing. Many cannabis stocks have delivered big returns in a short amount of time. These outsized returns have expectations running sky high for the cannabis stocks. Although I’m expecting great things from cannabis stocks, don’t get too excited about gains and don’t get too bummed about losses.
2 – Focus on the Long Run:
When analyzing an investment, sometimes I use a microscope and other times I use a telescope. For cannabis stocks, I am using my telescope. That means I am looking at this investment from 10,000 feet above. I am expecting plenty of volatility in the short run. But in the long run, I am expecting the industry and stocks to steadily move higher for many years. It’s another way of saying don’t sweat short-term volatility. Continue reading "7 Tips To Make Cannabis Stocks Profitable"