Just a few weeks ago, we noted:
“Cannabis stocks have been explosive. All thanks to legalization in Germany, the addition of a cannabis vote in Florida, growing approval ratings in polls, and speculation it could be favorably mentioned in the election. According to the Pew Research Center, about nine in 10 Americans (88%) said that cannabis should be legal for medical or recreational use.”
With that, we highlighted related stocks, such as Canopy Growth (SYM: CGC), Aurora Cannabis (SYM: ACB), and ETFs such as the Advisor Shares Pure US Cannabis ETF (SYM: MSOS) and ETFMG Alternative Harvest ETF (SYM: MJ). Then, we got news that the US DEA will reschedule cannabis as a less dangerous drug.
In fact, according to the Associated Press, it now “clears the last significant regulatory hurdle before the agency’s biggest policy change in more than 50 years can take effect.”
They added, “Today, the Attorney General circulated a proposal to reclassify marijuana from Schedule I to Schedule III,” Justice Department director of public affairs Xochitl Hinojosa said in a statement. The DEA is a component of the Department of Justice. “Once published by the Federal Register, it will initiate a formal rulemaking process as prescribed by Congress in the Controlled Substances Act.”
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Company: Canopy Growth (SYM: CGC) With that news, Canopy Growth ran from about $8.20 to a high of $14.92. Now back to $9.07, we believe it could push even higher heading into the elections. |
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The Gold Rush Is BACK
A unique business model could elevate gold-focused company to unprecedented heights in 2024.
Gold has been on a tear this year. The yellow metal has hit an all-time high of $2,4231.29 recently and the rally could be far from over. From central banks to even Costco customers, it seems everyone is buying gold these days.
With Wall Street watching the gold space carefully, now is a perfect time to put this stock on your radar.
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Company: Aurora Cannabis (SYM: ACB) Aurora Cannabis ran from $6.20 to $9.35. It’s now back to $6.42. |
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ETFs: Advisor Shares Pure US Cannabis ETF (SYM: MSOS), ETFMG Alternative Harvest ETF (SYM: MJ) The MSOS ETF ran from about $8.50 to a high of $11.37. It’s now back to $9.10 and could push higher, as well. With the MJ ETF, it ran from $3.80 to a high of $4.80. It’s now back to $4.05 and could also race higher as we near the elections. With a good deal of catalysts ahead – like the elections – each could gain more momentum. |
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
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