Marijuana Stock Discussion
Penny stocks are only good for one strategy, and that is raising short term capital for other market investments that may be a bit more sustainable. For instance, I've been monitoring a gold ETF fund IAU which I plan to build my holdings from the gains I've received from the Marijuana penny stocks MJNA, CBIS, and FITX. The ETF fund has bounced back quite nicely since Janet Yellen given signs of slowing of the feds tapering.
I've put the chart up for everyone to see at ;
http://www.broadviewfinancials.cotimberdoodle said: ↑
Is the Hemp sector really viable? There seems to be a lot of hype focusing on Hemp Inc and a few others. Not sure what to think
When we read articles such as the one published today stating that Hemp Inc. received its shipment of Hemp, can we trust that?
http://finance.yahoo.com/news/hemp-i...155500429.html
I am new to this and trying to find my way. Any help would be appreciated.
John
There are a lot of scams going on in the marijuana/hemp sector. Everybody and his brother is using the public's interest in legalized marijuana to dupe 'Mom & Pop' investors. Search the forums ("marijuana", "hemp", "pot", etc), and you'll find multiple conversations on this topic.
Legalized marijuana is a new industry, but right now it's way too early to determine which companies are going to turn out to be the Walmarts and Microsofts of the marijuana sector. Best to stay away for now, or at least be very very careful and do lots of research before buying into one of these companies.
As for your question as to whether or not we can trust articles, that depends on the source of the article. For the article you linked to, specifically, I personally wouldn't trust it as it is merely Yahoo reprinting a press release from GlobalNewsWire. For a conversation on trusting sources, look here...
http://onlinetradersforum.com/showth...-AMMX-opinions
This link here...
http://finance.yahoo.com/q/h?s=HEMP+Headlines
...shows you that 99% of the sources of "news" headlines for HEMP are merely press release websites, not at all what you would consider to be legitimate news sources.