IGC is another cannabis stock that soared way too fast based on no tangible numbers. The Cannabis market will be a big market for sure. But the energy beverage sector is extremely competitive; we would have to see how the "Nitro G" can compete before the stock soars 1000% in a couple days. This is definitely the pumping phase, and it will come down.
Trade closed: target reached
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Covered 75% of my short on IGC for a 45% return! And it's still dropping in after-hours.
What are your thoughts on this being a scam? The address of their business leads to a daycare. I got in pretty early, but don't want to jump ships too early.
What is your thought on this actually being a fake, or a scam? This seems to be the running trend on other forums.
UnknownUnicorn3561992
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Which cannabis stocks would you recommend? I own a handful of NBEV (only 40 shares) and according to my portfolio it's at +65,12%, on the other hand I am making losses on Aphria and Cronos. Could it be that all cannabis stocks are way too volatile right now?
Tutur
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@HairyHugo, The entire cannabis market is very volatile right now. The thing is, it's not an established market yet; so everyone is speculating on how big the market will be, and nobody knows how much of market share each company will get. I definitely think it is possible to profit on short-term market swings and make quick % gain. However, it is 100% sure than 3/4 of these stocks are completely overvalued and will crash.