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Marijuana Stocks, legalities for Irish Investors?

  • 04-01-2018 11:09am
    #1
    Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Does anyone know if your breaking any laws buy investing and taking profits in these stocks?


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Comments

  • Registered Users Posts: 7,494 ✭✭✭ BrokenArrows


    Does anyone know if your breaking any laws buy investing and taking profits in these stocks?

    If its being traded on a legal exchange then you're not breaking any laws.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    If its being traded on a legal exchange then you're not breaking any laws.

    Even though it's illegal in Ireland to have marijuana it's ok to have money invested in a marijuana business. I'm just wondering will the revenue raise an eyebrow come tax time. Or as you say once it's on a legal exchange nothing they can say.


  • Registered Users Posts: 7,494 ✭✭✭ BrokenArrows


    Even though it's illegal in Ireland to have marijuana it's ok to have money invested in a marijuana business. I'm just wondering will the revenue raise an eyebrow come tax time. Or as you say once it's on a legal exchange nothing they can say.

    Look at it like investing in a Pharmaceutical company in the USA which is trading in normal medical drugs which have been banned in Europe or simply not authorised yet.

    Or even more simply food products. There are a whole list of food flavorings & colorants which are banned in Europe but the USA have no problems in using them in their products.

    They are trading in a product which if traded in Europe would be illegal but you wouldn't question this would you?


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Cheers didn't think of it like that, time to load the boat.


  • Closed Accounts Posts: 657 Shauny2010


    I'd be interested to know what stocks you are looking at. I am wondering is there secondary companies that provide services like testing the quality or purity of the product that could be invested in rather than a direct supplier or manufacturer?


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  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Shauny2010 wrote: »
    I'd be interested to know what stocks you are looking at. I am wondering is there secondary companies that provide services like testing the quality or purity of the product that could be invested in rather than a direct supplier or manufacturer?

    Anything I seem to buy in Canada only goes one direction, canntrust has being doing great for me, sold off my other ones with profit maybe a bit to early but will look at buying back into more come the end of the month. Should be a steady up tick until July, australian pot stocks doubled yesterday https://www.bloomberg.com/news/articles/2018-01-04/australian-pot-stocks-soar-after-government-relaxes-export-rules

    Pick the big ticket ones with patents, or cheap ones with potential, might buy some of friday night inc stock today or THC Biomed that lifted nearly 88% yesterday.


  • Closed Accounts Posts: 849 Tenigate


    Does anyone know if your breaking any laws buy investing and taking profits in these stocks?

    Assuming by stocks you mean shares in companies rather than an inventory of marijuana, you should be fine. You can invest in weapons, nuclear power, etc , without being accused of having WMDs.


  • Closed Accounts Posts: 5,019 Izabella Putrid Mitt


    Liking the look of some of those stocks drunkmonkey. Will do some more research tonight.


  • Registered Users Posts: 3,612 ✭✭✭ Dardania


    particularly with the recent legalisation in California - huge market there
    Shauny2010 wrote: »
    I'd be interested to know what stocks you are looking at. I am wondering is there secondary companies that provide services like testing the quality or purity of the product that could be invested in rather than a direct supplier or manufacturer?


  • Closed Accounts Posts: 657 Shauny2010


    Liking the look of some of those stocks drunkmonkey. Will do some more research tonight.
    Dardania wrote: »
    particularly with the recent legalisation in California - huge market there

    Any chance we can share the research, as I'm lost as to where to start with this


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  • Registered Users Posts: 3,612 ✭✭✭ Dardania


    Shauny2010 wrote: »
    Liking the look of some of those stocks drunkmonkey. Will do some more research tonight.
    Dardania wrote: »
    particularly with the recent legalisation in California - huge market there

    Any chance we can share the research, as I'm lost as to where to start with this
    The California article I just saw a few days ago: https://www.economist.com/news/united-states/21733424-some-cities-plan-give-people-marijuana-convictions-priority-when-setting-up-legal 


  • Registered Users Posts: 78,233 ✭✭✭✭ Victor


    Pick the big ticket ones with patents, or cheap ones with potential, might buy some of friday night inc stock today or THC Biomed that lifted nearly 88% yesterday.
    Be wary of buying into a rise like that, especially a one-day rise like that.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Liking the look of some of those stocks drunkmonkey. Will do some more research tonight.

    Lucky you didn't jump in today there all getting hammered, must have a look tonight and see why.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Victor wrote: »
    Be wary of buying into a rise like that, especially a one-day rise like that.

    Yea I sat it out, big correction happening. Friday night inc might be coming near a decent entry.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    This might be what's after happening, sell the news isn't that what they say https://apnews.com/19f6bfec15a74733b40eaf0ff9162bfa


  • Registered Users Posts: 7,494 ✭✭✭ BrokenArrows


    This might be what's after happening, sell the news isn't that what they say https://apnews.com/19f6bfec15a74733b40eaf0ff9162bfa

    Might be a good thing for investors. It will cause a pullback in the prices.
    But id expect this to be challenged a alot of certain states who dont want to see their billions in tax revenue disappear.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    It''s be interesting to see what happens with these..

    APH.CA
    VFF.CA
    ACB.CA
    WEED.CA
    CMED.CA
    T.LEAF

    All set to rebound 10% + shortly i'd bet. Just took a small position (420) in Friday Night...didn't want to miss the dip:)


  • Registered Users Posts: 3,612 ✭✭✭ Dardania


    It''s be interesting to see what happens with these..

    APH.CA
    VFF.CA
    ACB.CA
    WEED.CA
    CMED.CA
    T.LEAF

    All set to rebound 10% + shortly i'd bet. Just took a small position (420) in Friday Night...didn't want to miss the dip:)

    I see what you did there!


  • Registered Users Posts: 3,612 ✭✭✭ Dardania




  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    A lot them after recovering a good bit....


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  • Registered Users Posts: 72,905 ✭✭✭✭ Atlantic Dawn


    The Horizons Medical Marijuana Life Sciences ETF might be a more safer strategy than going for a few individual pics, launched in April this year, current YTD return is 12.57%...

    https://www.cnbc.com/2017/04/05/a-new-investor-high-the-first-etf-to-target-marijuana-stocks-launches.html

    https://www.bloomberg.com/quote/HMMJ:CN


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    I was reading up on that don't know where I read it but it said it's being fueled by Hype and to give the ETF's a dodge. Not a great return compared to the stocks themselves. A lot of the stocks have give 200/400% returns over the last 6mts.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    http://www.stockhouse.com/news/press-releases/2018/01/04/aurora-cannabis-accelerates-european-expansion-with-licensed-denmark-joint

    Worth a look tomorrow that's pretty big news and was probably held back with the US news, could be in for a jump, Europe's biggest pot farm?


  • Closed Accounts Posts: 5,019 Izabella Putrid Mitt


    Put a limit order in on few Friday Night at 0.55, just caught the dip earlier this morning. Already up 12%. thanks drunkmonkey :)


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    I'm not convinced by their business model don't be afraid to take profits, could be another rocky road today.
    Just sold off my BOI this morning so hoping to take a position in something today.
    Degiro isn't opening for me, wonder have we overloaded it with everyone in a rush for green gold:)


  • Registered Users Posts: 949 ✭✭✭ Prezatch


    Put a limit order in on few Friday Night at 0.55, just caught the dip earlier this morning. Already up 12%. thanks drunkmonkey :)

    I'd be selling quick!


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Prezatch wrote: »
    I'd be selling quick!

    It's taken off, I was waiting for a dip on the dip. Not going to happen by the looks of it.
    Moose must be up 20% odd by now.


  • Closed Accounts Posts: 5,019 Izabella Putrid Mitt


    Up up and away! I wish I had the balls not to sell early. ah well!


  • Closed Accounts Posts: 11,812 ✭✭✭✭ evolving_doors


    Up up and away! I wish I had the balls not to sell early. ah well!

    It's a crazy bubble but with an actual ramp up date set in July 2018 in Canada. People are looking for their Microsofts and Google's in Canada to get the steal on the global market, hence why the reluctance to sell early and cash out.
    After recreational begins around july there will be a lot of winners/losers/takeovers.
    Best analogy would be with the end of alcohol prohibition in the states.

    Budz is a company 'worth' $1.4Bn , no revenue, not producing anything. They're only asset is a trailer home which cost $1million and 265k in cash.


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  • Registered Users Posts: 685 ✭✭✭ badboyblast


    This might be what's after happening, sell the news isn't that what they say https://apnews.com/19f6bfec15a74733b40eaf0ff9162bfa

    Hi OP, I work for a Canadian company and travel there alot, I know they are pushing to have the same laws basically as Amsterdam this summer 2018 so I think there is some serious moves being made over and the Canadians are very liberal so I can see this getting the green light ( pardon the pun)

    Who would be the best provider for me to purchase some shares with here in Ireland for Canadian stocks?

    I have been looking at canopy growth corp, Aurora cannabis Inc and aphria Inc and they have been doing well with a steady increase .


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