Remember when marijuana was the hottest sector on the planet? You knew it had to be hot when James Altucher got involved, right? The logic was basically:
- everyone wants to smoke pot;
- they’ve been foreclosed from doing so because of the law;
- but the laws are changing to let people sit around to toke up all day;
- profit!
You know where this story is going. Cronos Group (CRON) the hottest of the hot pot stocks, is at a lifetime low now, down over 90%, even with the laughable trillions the Fed has vomited all over the market. This is the same kind of wipeout that pleases sanctimonious sticks-in-the-mud like myself who, Slopers entreaties notwithstanding, is not the type to smoke his life away. I have better things to do. Promise.
