In my never-ending question to alienate everyone, I’ve occasionally ticked off a Sloper or two by castigating the marijuana sector. This was, of course, a red-hot investing space a few years ago (top-ticked by James Altucher hopping on the bandwagon), but it has clearly fallen out of favor.
I was reminded of this today by the fact that the ticker symbol MAPS was at a lifetime low. It turns out this is yet another SPAC disaster in the form of a company called WeedMaps.
I guess it’s sort of a Yelp for people who like to blaze their lives away in a pointless daze, only to wind up in a grave with absolutely nothing to show for it except a bunch of really bad life choices. In any event, the stock has been cratered virtually non-stop. The ridiculous notions about everyone getting rich off of potheads have been quite rightly put to bed.
