Originally published at: https://boingboing.net/2018/09/24/canopy-growth-co.html
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At least you know the answer to the inevitable question about what those investors have been smoking.
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There’s a danger that if you invest in those stocks, that you’ll be refused entry at the US border, on the grounds that you’re too gullible.
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So…a repeat of the speculation rush on every other new market throughout history.
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Of course they’re overvalued, for the same reason that “highest bid wins” auctions will almost always lead to people overpaying for things.
Also, because agriculture is not normally much of a growth industry. People don’t buy more food each year, and the population only grows so fast (they may buy better quality food, though). So any growth opportunity looks great.
Granted, the sane thing would be to give profits to investors to re-invest in other industries, but that doesn’t boost share prices, does it?
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Duplicitous carpetbaggers, the lot of 'em.
It’s like the pros always say, “Buy high… uh, what were we talking about?”
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The problem with a bubble is that, as easy as it is to dismiss, somebody is getting rich.
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And a lot of suckers are getting poorer to pay for that.
All divorced from the actual company business of employing people, producing a product at a profit/loss, except in the cases where a company really does need an infusion of investment capital. smh.
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Then they’re doing it wrong.
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Thank god the suits are getting ahold of this. Soon, I won’t have to hear another speech about how wholesome and noble marijuana is and it can just be another vice.
I don’t dismiss it. Just emphasizing the point implied by Cory, Jacquie McNish and Vipal Monga, which is that it’s a systemic problem, not a weed market or dotcom problem.
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