Investing

Cannabis (Marijuana) Stocks

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  • Jan 23rd, 2021 1:27 am
Newbie
Sep 6, 2014
84 posts
39 upvotes
azncapcom wrote: you can only contribute 5000/5500 a year but that doesn't mean the value of your investments cannot go up past that. for example if you put 5000 in a stock and it multiple by 10x, you would have 50k.
Sorry, dumb question. Can $5500 be contributed to TFSA right on the day one of the new year?
Member
Dec 21, 2008
323 posts
40 upvotes
Airdrie
chappanteekli wrote: Sorry, dumb question. Can $5500 be contributed to TFSA right on the day one of the new year?
Correct, assuming you are already maxed out from previous years.
Deal Addict
Jul 30, 2015
2459 posts
1428 upvotes
Toronto, ON
lawonga wrote: Just went all cash today. The runup is insane and almost irrational. Anyone else the same?
I never understand this logic. Why go cash? Set a stop/limit about 1-2% below the current value and let it rise. You have locked the gains, but you can still benefit from a further rise in value. You can keep increasing that floor as the value rises (if it does). Unless of course you need the money.
Sr. Member
User avatar
Apr 26, 2010
792 posts
106 upvotes
Richmond Hill
White Comet wrote: I'm thinking of switching as well...is Scotia iTrade or CIBC Investor's Edge better?
Full disclosure, I work for Scotia and they required me to move all investments in house.
If you are planning to transfer over, please note that it generally cost $150+tax per account and Scotia was only willing to cover 1 of my accounts. Secondly the two times i had to call Scotia ITrade customer service took me over 1-1.5 hrs each. Just a little FYI.
Member
User avatar
May 3, 2015
351 posts
134 upvotes
Toronto, ON
Hey guys,

Interested in looking into some marijuana stocks, any thoughts on ones to begin with/good places to get info? Also, is anyone here trading through Questrade, or are other brokers preferable?

Cheers
Deal Addict
User avatar
Jul 11, 2011
3515 posts
1866 upvotes
Ontario
canoek wrote: I never understand this logic. Why go cash? Set a stop/limit about 1-2% below the current value and let it rise. You have locked the gains, but you can still benefit from a further rise in value. You can keep increasing that floor as the value rises (if it does). Unless of course you need the money.
Stop limits at 1-2% don't work in this sector, especially on days like Friday where things gain/dump 20-30% all day long
Deal Addict
Apr 5, 2016
4802 posts
3295 upvotes
Calgary/Vancouver
hebsie wrote: Stop limits at 1-2% don't work in this sector, especially on days like Friday where things gain/dump 20-30% all day long
Very true. I got burned few weeks ago because of it for ACB.
Current Fido and Rogers customer.
Ex Koodo customer.
Sr. Member
Dec 31, 2015
727 posts
170 upvotes
Hmm looking at buying companies with exposure in cali. TGIF has had an insane run lately. What other companies are out there other than LDS with operations in cali?
Sr. Member
User avatar
Jan 26, 2010
930 posts
712 upvotes
Milton
MikeZ13 wrote: Hey guys,

Interested in looking into some marijuana stocks, any thoughts on ones to begin with/good places to get info? Also, is anyone here trading through Questrade, or are other brokers preferable?

Cheers
I use Questrade, $4.95-$9.95 per trade, but they charge ECN fees. Ways to get around those though (100-multiple lot, limit orders below bid or above ask). I heard the big banks like CIBC don't charge ECN fees. May consider switching at some point, although I've been pretty happy with Questrade (apart from the occasional ECN fees I get dinged with when I have to buy at market price)
Koodo Prepaid, Public Mobile, Conch shells, Tin cans
Member
User avatar
May 3, 2015
351 posts
134 upvotes
Toronto, ON
PapaQBear wrote: I use Questrade, $4.95-$9.95 per trade, but they charge ECN fees. Ways to get around those though (100-multiple lot, limit orders below bid or above ask). I heard the big banks like CIBC don't charge ECN fees. May consider switching at some point, although I've been pretty happy with Questrade (apart from the occasional ECN fees I get dinged with when I have to buy at market price)
Great, thanks for sharing. Do people have any thoughts on the top 3-5 stocks to look at/get in on at this point? Or suggested areas for reading?
Member
User avatar
May 3, 2015
351 posts
134 upvotes
Toronto, ON
slotscanada wrote: My picks would be: fire, Namaste, and hvst. Based on hope more than anything, lol
These are all Canadian listed?
Deal Fanatic
User avatar
Aug 9, 2009
5013 posts
644 upvotes
MikeZ13 wrote: Great, thanks for sharing. Do people have any thoughts on the top 3-5 stocks to look at/get in on at this point? Or suggested areas for reading?
Depends on your risk level. Low risk would be big three. Everything else is pretty much high risk.

Namaste just had a big correction, so it could possibly be a good entry point now.

I am hoping ACB deal with cmed not go through so cmed can acquire HIP (which I am currently holding)
Deal Addict
User avatar
Sep 10, 2003
1629 posts
154 upvotes
Hamilton
HVST holds United Greeneries and Satipharm. Their stock has a 4.8 price/book ratio meaning the market price is not overly inflated and investors will get a healthy amount of equity with each share they own. They have 0 debt and very few liabilities. HVST is also expanding as they recently secured a land deal for just under $1M to grow cannabis outdoors in British Columbia. United Greeneries is also set to expand by 35,000kg per year by 2018.

Looking to add more HVST on dips!
Deal Fanatic
Feb 15, 2006
8763 posts
3211 upvotes
Toronto
RedLego wrote: Full disclosure, I work for Scotia and they required me to move all investments in house.
If you are planning to transfer over, please note that it generally cost $150+tax per account and Scotia was only willing to cover 1 of my accounts. Secondly the two times i had to call Scotia ITrade customer service took me over 1-1.5 hrs each. Just a little FYI.
When I transferred acounts over to iTrade, they covered the transfer fees of every account.

As for telephone services, in my experience the iTrade CSRs are much more experienced and know what are being discussed, while TD DI CSRs are often clueless and with problems point fingers at each other. I don't know about recent call wait times during the holidays, but iTrade was never too long.
Sr. Member
Oct 11, 2010
966 posts
317 upvotes
Charlottetown
MikeZ13 wrote: Great, thanks for sharing. Do people have any thoughts on the top 3-5 stocks to look at/get in on at this point? Or suggested areas for reading?
These are my recommendations to you after being in this sector for over a year and doing pretty well. Do your own DD of course, I'm just giving you some to start with:

MARI
HVST
VFF
EMH
ABCN
THCX
Jr. Member
Jun 9, 2015
101 posts
15 upvotes
Scarborough, ON
azncapcom wrote: Depends on your risk level. Low risk would be big three. Everything else is pretty much high risk.

Namaste just had a big correction, so it could possibly be a good entry point now.

I am hoping ACB deal with cmed not go through so cmed can acquire HIP (which I am currently holding)
Interesting scenario...if ACB / CMED goes through, HIP shares will probably drop.
if ACB / CMED does not go through, CMED shares will drop and therefore HIP is not worth as much........(33 shares CMED for every 1,000 shares of HIP)

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