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Packed full of great info!!!

by Duchiz
4 replies
Hello Warriors,

I have been spending a lot of time on yahoo finance board...recently started investing in MJ stocks (cannabis). Although volatile sector, I am doing quite well. My intent is to make a bucket full, then use the funds for my online sale start up costs. Recently, cannabis (weed) has become legal in Canada. Still some legalities (more changes occurring federally this year) with regards to specific product specifications etc. I have developed what I think is an awesome product! No talk of this being developed yet. I intend to jump on it asap. Matter of time before one of the LP's come out with this concept. Definitely a market for it. However, my product is still considered a 'grey area' with regards to Health Canada approval....yep, government is basically controlling the industry. I may be stuck waiting a bit. Or not.

I'm somewhat of an old dog. So I have ALOT of learning to do with regards to online marketing/selling/shipping-fulfillment, etc. I will probably go Instagram and twitter route right away to create awareness...and cheap to do so! I started branding/packaging, but very primitive. Then build a site...maybe shopify. Also try Amazon. Trying to find least expensive ways to do this for now. Advertising and promoting. I did some searching to find info and came across this forum. WOW! The bit of reading I have started doing has already been very helpful!! I didn't know how much I didn't know, ha!

Bit long winded, and no real question as of yet...Just wanted to say hello, and a HUGE pre-thank you for all this fabulous information. So glad I found this place!
#full #great #info #packed
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  • Profile picture of the author msulcs
    Glad you like it in hear. Read through the Warrior Path section, and you'll find so much valuable content!
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  • Profile picture of the author jmosticc22
    Welcome, I think what your doing with the MJ stocks can be lucrative but what is your plan to handle the risk? Are you covering your positions with puts and calls? Just something to think about.
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    • Profile picture of the author Duchiz
      Originally Posted by jmosticc22 View Post

      Welcome, I think what your doing with the MJ stocks can be lucrative but what is your plan to handle the risk? Are you covering your positions with puts and calls? Just something to think about.
      I have only invested what I can afford. And slowly accumulated over the past few months. Let me define...I have not been able to invest tens of thousands as I wish I could, to see some significant gains!! My total mj investment is about 7000. With 75% of those funds into one particular stock. The remainder into 5 various. The primary company I have put my money into is a long term play. I have done extensive dd on this company. Excellent business plan in comparison to the other large LP's in my opinion. However, I have yet to pull profits. Sitting on approx 2000 unrealized gains with this particular stock to date. I need the cash(profits), but dont want to sell any due to the stock price is ready to explode. I have tried a swing trade (once), got lucky and was able to buy back in lower to accumulate a bit more. But too risky to do now at this stage. Puts and calls is something I have considered. However, I have little (excess) cash to play with right now. This is one of my dilemmas...need cash to get my concept/business going asap..but dont want to sell/pull profits becasue I know I will lose out on potential gains, and wont be able to buy back at an affordable price.
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