Bullish Sign if Pot Stock Market’s Base Holds
Heading into 2022, the major risks for investors were yields and interest rates. There was also some trepidation about geopolitical situations involving China and Russia. The stock market selling drove the Nasdaq and Russell 2000 into bear market territory while the S&P 500 and Dow Jones Industrial Average traded back and forth in correction territory.
The majority of stocks have fallen into correction territory except for energy and gold stocks, which have risen in wake of the Russia/Ukraine war. Caught in the downdraft have been marijuana stocks. The selling of pot stocks in 2022 is disappointing, especially given their previous decline in 2021.
In my view, the selling of marijuana stocks has been excessive, considering the long-term potential for the pot sector.
The post Marijuana Stocks Test & Hold March 2020 Low; This Could Signal a Base appeared first on Profit Confidential.