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Notes from Underground: don't bogart that share, my friend

By Darren Atwater | Saturday 6 January 2018


 


It's my final 48 hours in Canada and I have one thing to report about Canadian's opinions on shares: everyone must be high. Canadians are mad about cannabis stocks - they cannot get enough of them.
 
As you know, Canada intends to legalise cannabis possession next July, and just the other day US President Trump's justice department made threatening noises to enforce a Federal ban over states that have legalised pot. Canadian corporate cannabis' time has come.
 
In the UK, cannabis stocks are fever dreams of bulletin board morons. Here in Canada, it's respectable news in the quality newspaper financial pages.
 
Of course, don't say that ShareProphets wasn't ahead of the curve. On 3 Dec, I tipped Canopy Growth Corp (TSX:WEED) at CDN $0.18. Today, it's $0.34. That's a kind of return that UKOG punters would frack themselves for.
But remember the greater fool theory. Cannabis stocks are rising for the same reason that people are biting at Bitcoin: it's a frenzy and the mainstream has finally taken notice. If you think that there are a few more morons left out there who have yet to jump in, you may find more return to be had. Otherwise, this joint is almost burnt out. 
 

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The first non-Tom non share tip story is FIVE Slam Dunk shares to sell for 2018 by Nigel Somerville at a spectactular #1


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Our top 10 most-read stories this week were:

  1. FIVE Slam Dunk shares to sell for 2018
  2. The ShareProphets 24 share tips of the year: No 22 a buy from HotStockRockets
  3. Woodford Patient Capital Trust: The Big Short (Appendix 2) – A look at the detail of the strange Benevolent AI transactions
  4. Neil Woodford - now about the missing dividends and another thing
  5. Tom Winnifrith Bearcast: Looking forward to 2018 It is not if but when the stockmarket suffers a major correction
  6. Dragon's Den Julie Meyer MBE: Putting flagship company into administration is something "every entrepreneur has to do" - whatever you say love
  7. The ShareProphets 24 share tips of the year: No 20 a sell from Lucian Miers
  8. The ShareProphets 24 share tips of the year: No 23 a sell from Tom Winnifrith
  9. Tom Winnifrith Bearcast - taking on a company whose shareholders are some of the most moronic of morons
  10. Tom Winnifrith Bearcast: Happy 50th to the Pizza Hardman, I celebrate my own a week early with the Mrs


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