Cannabis pharmaceutical company stocks have been soaring recently, and John and the rest of the Simpler Trading team have been riding the wave all week.
John appeared on Fox Business with Stuart Varney this morning to comment on the pot stock leaders, and why he thinks they’re here to stay (and short sellers should just get on board already).
The big move today, India Globalization Capital (IGC) recently announced they formed a partnership to make several products including an energy drink called “Nitro G” with cannabidiol (CBD oil). It’s since jumped double digits to join other high-flying marijuana stocks.
Stocks such as Tilray (TLRY), Cronos Group (CRON), and Canopy Growth (CGC) have already cost short sellers more than $900 million this year. John doesn’t think pot stocks are going away, but speculators don’t seem to be giving up easily.
But with multiple crazy double digit jumping days, as one of our members in our chatroom, Ken, said, “I think JC should have said it’s not that I’m pro pot, I’m pro making money.”
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