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re: Let’s talk weed stocks in this thread
Posted on 1/7/19 at 10:22 am to quail man
Posted on 1/7/19 at 10:22 am to quail man
The fact that they have no sales yet. I agree, it's great that they got their license and they're in the process of growing. Everything I've read about the company makes me feel good about them. I enjoy scrolling through their twitter to see how they conduct themselves and I'm impressed.
However, who are they going to sell to when their product is grown? Do they have customers in place already? There's A LOT of competition in California since State-licensed sales of recreational marijuana began a year ago. They estimated 6,000 shops would be opened within the first few years but they've only issued 547 temporary licenses in the first year. Legal cannabis sales were actually down $500M in 2018 vs 2017.
Not only are they up against other emerging marijuana companies they also have to contend with black-market competitors who are not subject to those same regulations or to state and local taxes. "Because we are up against high taxes and the proliferation of illegal shops, it is difficult right now," the owner of a pot shop in Wilmington told the L.A. Times. "We expected lines out of our doors, but unfortunately the underground market was already conducting commercial cannabis activity and [is] continuing to do so."
It's one thing to set up your company and have a vision/roadmap for it. It's another to execute. We're
basically betting on Livewire to lock down customers amidst all the competition. I think it's wise to acknowledge that it's just a bet. I think that's what makes this risky.
However, who are they going to sell to when their product is grown? Do they have customers in place already? There's A LOT of competition in California since State-licensed sales of recreational marijuana began a year ago. They estimated 6,000 shops would be opened within the first few years but they've only issued 547 temporary licenses in the first year. Legal cannabis sales were actually down $500M in 2018 vs 2017.
Not only are they up against other emerging marijuana companies they also have to contend with black-market competitors who are not subject to those same regulations or to state and local taxes. "Because we are up against high taxes and the proliferation of illegal shops, it is difficult right now," the owner of a pot shop in Wilmington told the L.A. Times. "We expected lines out of our doors, but unfortunately the underground market was already conducting commercial cannabis activity and [is] continuing to do so."
It's one thing to set up your company and have a vision/roadmap for it. It's another to execute. We're
basically betting on Livewire to lock down customers amidst all the competition. I think it's wise to acknowledge that it's just a bet. I think that's what makes this risky.
Posted on 1/7/19 at 10:25 am to Aubs10
Thanks to both of you. Good to hear the other side. There’s a lot of hype in the thread which gets me amped and makes me want to buy more but I know I’ve got to pull back some.
I only invested a few hundred as a gamble. If it hits 6 cents or so I’d more than double my input so would probably sell some shares and let the rest ride.
I only invested a few hundred as a gamble. If it hits 6 cents or so I’d more than double my input so would probably sell some shares and let the rest ride.
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