Cannabis Stocks Will Be The Foundation Of “The New Vice Economy”
You know my attention is always on new-world stocks, those that will replace the old and of course cannabis stocks are steadily becoming a viable new world stock.
And now I am seeing a shift from what I call “the old vice economy” to what I’ve dubbed “the new vice economy.”
Alcohol and cigarettes will continue to decline as legal marijuana takes its place firmly at the center of the new vice economy.
Cannabis stocks have taken a beating this year, but I’m seeing signs of a bottom. Watch today’s Market Talk to see why.
We also discuss:
- What it means now that the U.S.-China trade war is moving closer to a conclusion.
- How five major car companies are embracing blockchain and crypto as part of a new car identification system and digital wallet.
- The top five cities that are on track to become the next Silicon Valley.
- Why a biotech company is about to make a massive impact in the world of spinal implants.
You can watch this week’s Market Talk below:
How Cannabis Stocks Will Influence The Future Economy
I want to cover the cannabis industry because there has been an implosion in cannabis stocks.
Cannabis stocks have been crushed. I looked it up right before getting on and pot stocks are down nearly 60% this year. I am using the most prominent ETF which is the ETFMG Alternative Harvest Pot ETF. It’s down almost 60% but that doesn’t really do justice to how much these have gone down.
Some of these have declined by 80%. In my experience, 80% is the moment where either the market is done, a dud a fake and it’s going away or the true believers are going to come in and buy because they believe in the market. They come in and buy and start acting as the strong hands.
I believe we are close to that moment for cannabis stocks. This is a moment for me to throw in our shameless plug of the week. If you’d like some unbelievable pot stocks, yes they are down, but we believe in what I am calling the new vice economy. The old vice economy is slowly fading away.
That’s alcohol and cigarettes. There’s a new vice economy and cannabis is at the center of it. It’s going to take the big share of it. If you’re interested in two stocks in the portfolio that are down, but we still believe they are going to make it. Ian, who manages the $10 Million Portfolio with me, he’s looking at new cannabis stocks.
Everything we see in terms of growth, product and the huge event of full legalization is still ahead. We’re still optimistic on pot. We still think it can grow from here. If you’re interested in that, click on the strong hands. That will send you to a page where you will get all the links on our $10 Million Portfolio service.
In addition to cannabis it has graphene stocks, new energy battery stocks and so much more. This is an incredible service. It gets you in on the ground floor of some incredible innovations. Check into it.
Before I sign off, I want to thank all of you for voting on the cover for my brand-new book — Profits Unlimited: A Wall Street Insider Reveals the Secret to Life-Changing Wealth.
Over the weekend, we got over 2,700 votes on your favorite cover.
We’ll reveal the winning cover as soon as the book is officially announced, so keep an eye out!
And stay tuned for tomorrow’s Bold Profits Daily, where I’ll reveal the next big stock in the new vice economy.
Editor, Profits Unlimited
Editor’s Note: As Paul mentioned in today’s Bold Profits Daily, AI is embedded everywhere today. But it’s about to get pushed even higher as a new wave of uses for its technology arises in the industrial revolution. Click here to find the very best way you can get in on this AI mega boom now, before the tech explodes higher.
I’ve been investing for more than 25 years. I started my career on Wall Street in 1991 as an assistant portfolio manager at Bankers Trust. I quickly advanced to prominent positions at Deutsche Bank and ING, managing multimillion-dollar accounts. In 2006, the owners of a $6 billion firm named Kinetics Asset Management recruited me to manage their hedge fund.