About to get stoned...

2018년 9월 19일

Shares of TLRY, and many other pot stocks for that matter, have been on fire lately. While I've made good money along the ride, its just getting ridiculous at this point.

This company went public exactly 2 months ago today.. the IPO price was $17. In 8 weeks time, it's up over 1300%! That's incredible for those that got in early, but its a clear sign of ignorance to be chasing it up here now. If you aren't taking at least some profits, you're either greedy or mentally ill.

While I think there's a lot of growth potential in the weed space, as evidenced by companies like STZ and KO getting invested, people need to be patient and let the prices come back down to earth.

I'm actually shorting this thing via long put options (the options are pricey, too!). Specifically, I bought Sept. 28 $55's in one account, and longer dated October $120's in another. Yes, it's ballsy move, but this blowout volume today may be a capitulation point.

Take a step back and smoke a blunt or 6 while you wait for this thing's buzz to wear off! And please don't be an idiot and chase this thing up here!