The four stocks I listed above have been increasing in price drastically this entire week. Frankly, it’s similar to what happened to the price of GME, AMC, BB and NOK. There may be high long term upside in these weed stocks as the US legalizes at a federal level. That said, these are all Canadian companies and the sharp increase in price has a lot to do with speculation and market manipulation. What this means as a novice trader is that the price will probably increase drastically but also decrease drastically as well. This will happen apparently at random and without warning. Timing it so that you maximize your profit is incredibly difficult and if you buy in too late you stand a better chance of losing money as the stock falls back down to a more reasonable level.
I personally don’t see this run up lasting too much longer myself but it’s hard to say. Use caution when dealing with hot button, and thus highly volatile, stocks.
I bought AMC when it was $2.12 as a good value buy. I didn’t buy a ton though, as it was just something to have a piece of. When it popped, it jumped up to $20 a share and if I would have cashed out I could have made several hundred or thousand dollars profit. I didn’t though and I’m still holding. Doesn’t hurt as much though since I’m still in the green. I’ll probably buy more if it gets back down to $3 a share or so. I believe that AMC is a good long term investment.
Kinda a double edged sword. Hindsight is always 20/20.