Cannabis Cash Weekly Issue: Cannabis Stocks Continue to Draw Investor Interest

Cannabis stocks posted one of their best weeks ever as investors pay more attention after the election and a strong earnings season.

Weekly Issue Nov 30, 2020 Hi Savio, I hope you had a great Thanksgiving and holiday weekend. Cannabis stocks celebrated well, posting one of their best weeks ever as the ETFMG Alternative Harvest ETF (MJ) rallied 13.9% to close at the best level since June. Investors continue to pay more attention to these stocks because of the elections results and higher odds of decriminalization as well as a surprisingly strong earnings season. We’ve talked about the strength in U.S.-based cannabis stocks, and some of the large Canadian stocks are breaking out in sympathy. Canopy Growth (CGC), the world’s largest cannabis company, closed at a new 52-week high on Friday and hit another high at the open this morning. Our current holding, Akerna (KERN), had strong week, rallying 23% as buying pressure appears to be increasing. It’s currently trading just under $4, and a close above $5 could set the stage for a big breakout into 2021. We have not sold any more covered calls against it because the short-term price upside potential is big right now, and we don’t want to lock in a sell price and possibly have the stock called away too early. That being said, if the stock rallies through critical resistance at $5, we may well get a good opportunity to collect another payout before the end of the year. I also anticipate a few new trades in December now that the post-election volatility should simmer down a bit. This will give us a chance to reevaluate the charts and identify the best opportunities to capitalize on the strength. Have a great week, and I’ll be in touch as soon as we get the right trade setup. Until next time, Matt McCall Editor, Cannabis Cash Weekly Nov 30, 2020 09:33:55.441 CUSTOMER SERVICE You can reach us via the following e-mail address: Feedback@InvestorPlace.com or by calling us at 1-800-219-8592. Copyright © 2020 InvestorPlace Media LLC 1125 N. Charles St, Baltimore, MD 21201 All rights reserved. No portion of the above message may be republished, retransmitted or forwarded without express written consent from InvestorPlace Media LLC. Violation of this copyright may result in service cancellation and/or collection of full or partial subscription charges from unauthorized users. Use and/or reliance on this service is strictly at the subscriber’s own risk. InvestorPlace Media LLC will not be liable for the acts or omissions of any third party with regards to delay or non-delivery of Inner Circle. InvestorPlace Media LLC shall not be liable for incidental, indirect, special or consequential damages or for lost profits, savings or revenues of any kind. Thank you for subscribing to InvestorPlace.com. Please note that we cannot be liable for any missed bulletins caused by overzealous spam filters. To ensure that you continue to receive this valuable part of your service please take a moment to add (customerservice@exct.investorplace.com) to your address book.