5 Tips to Jump into the Cannabis Stock Game
(Before it is too late or the prices are too high)
Step 2: Determine how much money you want to invest. My rule of thumb is only invest money you DO NOT CARE TO LOSE aka If you need the money now do not invest it. (DISCLAIMER: I am not a financial professional, I conduct research and share information).
Step 3: Pick the stocks that you are interested in purchasing. Capitol One has a watch list where you can save the companies of interest so when you are ready you can make the trades they are all in one place. I use Seeking Alpha to conduct my research. It is completely free and a great resource.
Here are the some of the notable cannabis stocks to purchase:
-Weed Inc BUDZ
-ETFMG Alternative Harvest ETF MJX
-CV Sciences Inc
-United Cannabis Corp
And I read articles like this one: https://seekingalpha.com/article/4135705-259-marijuana-stocks-horizons-marijuana-life-sciences-index-etf-jeff-sessions
Step 4: Check the stock prices on the day that you want to purchase. Place your trades. The market is open (Monday-Friday 9:30am to 4:30pm) Login to your Capitol One account or whatever account you set up to place trades. It is $6.95 to trade so factor that cost in when adding funds. Reminder- Keep money in your account at all times so that you can place trades as soon as you learn about a trend. Tip: The days that the market is down are days that you can BUY because stocks rebound. Start paying attention.
This video will walk you thru it How to place trades on Capitol One Investing
Step 5: Sit back and watch. Determine your strategy. Are you holding for years and staying in until a certain dollar amount is made??
Disclaimer: I’m not a financial professional..I just like to research. Enter at your own risk and as always use money you don’t NEED right now. I started SUPER small. I think I used 250 and bought Facebook stocks and then I grew to 5 or 6 stocks…now I have 30 stocks and I am up 41% since I started a few years ago.
Also, create an ongoing strategy. I started by adding a 100 bucks each month …and buying stocks…and then I just let them sit. I have traded some but I really created a diverse portfolio..I have GOLD, real estate exchanges, technology (Facebook and Snapchat), Food (Blue Apron), Sneakers (Foot Locker), Gear (Lululemon) and honestly I picked things I like to spend my money on. I also got Hotels and Airlines…I love Jetblue and Starwoods…so I got those…Think about brands that you love and see doing well each year. Once I bought my first pair of Lululemon pants and saw that people were in there buying 3 and 4 and they cost 100 a pop…I waited until the stocks slide one day and purchased as much as I could.
Let me know if you have any questions setting things up and PAY ATTENTION!!