I am buying more Tranzbyte Corp (ERBB) on the 20 day moving average. This play on cannabis dispensaries has a strong technical setup and the underlying fundamentals for the industry continue to improve. In fact, I got an email from Tranzbyte last night about some positive new developments going on within the company.
After personally visiting Colorado last week and watching “Colorado Pot Rush” last night, I am convinced that legalization is here to stay. Washington D.C. just decriminalized TODAY. Now, I would put a stop-loss under the 20 but, I am going long-term (YOU should put a stop-loss every time). After you read this alert, I will own 5K more in Tranzbyte (ERBB) with no stop-loss.
I would give you more in-depth analysis on these marijuana stocks except there isn’t much information out on these companies yet, only charts and price action.
The reason I chose to overweight my allocation in ERBB is because it is one of the only cannabis stocks with a good spread (it’s liquid), it has one of the largest market capitalizations in the industry, and the risk/ reward is the most attractive among its peers. Regards.
UPDATE: March 14, 2014
Great site playa, learning a lot!
You see PHOT today?