negative p/e plauges this category and of the mid caps of note, i do not see any of these not losing money per share.
what makes a company desirable in this climate appears to be more in line with "whos most likely not to go out of buisness" than actual fundamentals. Compared to some \*cough mag7\* these are rather tame in terms of speculation "value" but also come with the whole marijuna voodoo which makes them taboo in the eyes of some investors
So its held high becouse its new, its successful.
its bleeding becouse the entire value of these holdings relies on the government policy surrounding cannibis which is still extremely volitile. Most changes are negative outcome
1. Less restrictive = competitive edge lost
2. More restrictive = possible irrelevancy
These companies couldnt be in a sweeter spot. Starting a growing buisness in most states requires a bunch of red tape if its even allowed to begin with, and much of this goes under constant scrutiny. Lets be honest, if it was a free for all, cannibis would become more common than any other crop in the nation and its worth would decline to that of broccoli.
its a sticky situation and i dont see how this is a good idea as an investment for anyone who isnt an insider.