iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,474 Blog Posts

Cashed Out of Cannabis Stocks — Heavy Cash Into Weekend

I got clubbed to the tune of 30% in DTEA, a stock that held for about an hour. Some people hold onto stocks that treat them like that, so violently, so soon, because they’re still in shock. But a 30% loss in 10 minutes is the same as 10 days. The loss happened fast and I really didn’t have much time to react. The prime reason to sell is distraction. I do not want to be reduced to box watching a position or emotionally invested in it. I took a shot. It failed. I move on.

Because of the rout underway in CBD stocks, I opted out of all but one today.

Here are my results:

ZYNE +12%
IIPR +11%
TRPX +9%

The sad part about those gains above is they were offset by the DTEA. Whatever.

I’m mostly cash now, actually 80% — chilling out and thinking about eating something delicious now.

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3 comments

  1. heckler

    You have to admit the whole TeaFAG idea was a little gay.

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  2. joyous__ending

    Thanks for the Fly Buy on IIYR.
    Sold 1/3 this morning.

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    • joyous__ending

      Make that IIPR. This board is for gentlemanly men who are in command of the English language and their keyboard. One shot…

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