Here's the deal. We saw a bit of downside volatility in the NICI 50 index and in overall cannabis stocks last week.
It was the first real downdraft since the cannabis market turned up with the overall equity market in late December of 2018.
Whenever these downturns occur, I get a lot of questions from worried investors wondering what their next move should be and if things will turn back around.
In this case, the answer is simple: Cannabis is doing just fine, the overall market is driving cannabis stocks lower, and although I don't know exactly when things will turn, I know for a fact that they will.
This may not be the most satisfying answer, but it's the truth.
Let me explain just what I mean and why you shouldn't worry...
About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.