ACB closed below the green trend line on the daily.
Target 1 $7.68
Target 2 $7.31
Target 2 $7.20
Target 4 $6.32
Cannabis is an emerging market and while it will be quite big in the future, I wouldn't expect cannabis stocks to necessarily reflect that growth.
Case in point. I live in Colorado, which is arguably the Amsterdam of the US, when it comes to weed.
Seriously. Weed dispensaries outnumber liquor stores. Probably a good thing but check this out:
Many of those dispensaries are just one or two bad months away from bankruptcy and many are attempting to sell their business/licenses.
Much like commercial real estate in Denver, after spiking supply to meet demand, an equilibrium has found its place and the value of said real estate is falling.
I think Cannabis stocks are over hyped and they are not yet a value buy.
Target 1 $7.68
Target 2 $7.31
Target 2 $7.20
Target 4 $6.32
Cannabis is an emerging market and while it will be quite big in the future, I wouldn't expect cannabis stocks to necessarily reflect that growth.
Case in point. I live in Colorado, which is arguably the Amsterdam of the US, when it comes to weed.
Seriously. Weed dispensaries outnumber liquor stores. Probably a good thing but check this out:
Many of those dispensaries are just one or two bad months away from bankruptcy and many are attempting to sell their business/licenses.
Much like commercial real estate in Denver, after spiking supply to meet demand, an equilibrium has found its place and the value of said real estate is falling.
I think Cannabis stocks are over hyped and they are not yet a value buy.