I am not sure if it’s actually Andrew Left or someone else at Citron who wrote the note linked below, but I suspect it is him. You may recall that he caused quite a stir here at this site when I was moaning about having sold CVSI taking ‘only’ (there’s a sign of amateur greed, eh?) an 85% profit on CVSI. Then later that same day (or was it the next day?), Lefty to the rescue with a tweet harpoon about fraudulent behavior by the company (it wasn’t). I was able to buy back on the crash.
Today I just took a second big trading profit on that lunatic stock and still hold sizeable profits on positions I am hanging on to for a bit. Meanwhile, it’s still got all those idiot ambulance chasers like Dewey, Cheatem & Howe coming out of the woodwork thinking there’s fire to Citron’s smoke.
But anyway, when Citron talks about retail investors chasing this hype in the sector he is 100% correct. Sure, the investment banks are in there promoting and instigating, but this is not going to end well when the hype thrust ends for this phase. It’s probably 90% newbies chasing the dream.
Anyway, NFTRH has a segment now called Global Cannabis Sector because this really is a massive change in society. But I would imagine as Pot goes full legal in Canada next month that segment will be pretty darn cautionary and maybe even look into shorting.
Meanwhile man, it’s pretty cool. CVSI’s never gonna go down again, man. Shit man, it’s only up 20% today. What’s up with that?… man.
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