Greetings Friends,
It’s been an awesome month for the cannabis sector.
The North American Cannabis index jumped more than 50% in the last four weeks for its best month of the year. Take a look below.
Many individual stocks are up even more.
For example, Canopy Growth Corp (CGC, WEED) the largest cannabis company in the world, is up almost 100%.
Those big gains were driven Canopy’s record $3.8 billion investment from Constellation Brands (STZ).
I wrote about this deal last month if anyone wants to review.
Canopy Growth Corp Jumps 47% in one Day on $3.8 Billion Mega deal with Corona Brewer
And looking forward I am expecting more of the same – I see more gains ahead.
In the short run the cannabis sector looks a little over bought. I expect to see some more consolidation – shares establishing a new range in higher territory.
But a beyond short-term consolidation, I see a huge catalyst directly on the horizon that I expect to send the cannabis sector deep into a new all-time high.
On October 17 Canada is set to become the first developed country in the world to legalize cannabis.
Marijuana to be legal in Canada starting October 17, Trudeau confirms
This is a huge profit trigger for the cannabis sector and it should trigger big capital inflows into cannabis stocks.
The North American cannabis index is already pressuring the all-time high. Take a look.
If the index breaks through this key level, I expect to see a big rally deep into a new all-time high.
How Should We Proceed in the Cannabis Sector?
My plan is to stay aggressive with cannabis stocks. That means holding all current shares and looking to send cash into the market on dips and pullbacks.
I’m looking for a strong finish to the and we’re in good shape to profit.
Interactive Brokers Just Rolled out an Awesome New Client Portal
I run my wealth management business through Interactive Brokers – one of the best discount brokerage firms.
IB has a great reputation for:
- low-cost trades
- great mobile app
- strong security
IB just rolled out a major upgrade on its clients portfolio.
I think my wealth management clients will really like it. It provides a lot more transparency into the accounts than the previous version.
Here are a few screen shots.
Main Portfolio Window: portfolio performance data and list of portfolio holdings with individual performance data.
Portfolio Analyst Window: portfolio performance data and list of accounts. Take a look below.
I recommend my wealth management clients check out the new web portal. Its pretty solid.
IB Mobile App: The IB mobile app is still the most popular way for clients to follow their accounts.
That’s all for now. I’ll be back in a few weeks with another update.
Your Investment Partner,
Mike
This report is for entertainment purposes only. Every investor should consult with an investment advisor before making investment decisions. The Vodicka Group, Inc. is not a broker/dealer. We do not receive compensation for mentioning stocks. At various times, the clients, publishers and employees of Vodicka Group, Inc., may buy or sell the securities discussed for purposes of investment or trading. Michael owns shares of Canopy Growth Corp (CGC).
