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Tom Lee: Marijuana Stocks, Bitcoin and Dotcom

Canberra legalizes marijuana

Tom Lee of Fundstrat Global Advisors is not going as far as saying that the marijuana bubble has burst in the stocks of this industry but he did point out some interesting points about bubbles and history when he used the term “profitless prosperity” in a recent interview on CNBC. Groups of marijuana stocks do resemble in price action in 2019 and the 2017 charts of bitcoin. The pot sector is now struggling with unclear regulations in the US and the roll out of stores in Canada. Big names in cannabis: Canopy Growth saw its stock fall 64%, Tilray down 75% and Aurora Cannibis is lower by 60%. Shares of the largest marijuana companies rallied aggressively in 2018, but have performed poorly in 2019.

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