Related: Marijuana ETF Boosted by Coca-Cola’s Interest in Weed Drinks
However, there are market naysayers that parallel the recent cannabis stock craze to that of the bubble surrounding cryptocurrencies–in particular, Bitcoin, which reached a value of $20,000 last December, but has since fallen to around $6,000.
“With a bubble beginning to form comparable to bitcoin and even the ‘Dot Com’ bubble of the late 90’s the average investor is going to suffer,” said Ken Mahoney of Mahoney Asset Management in emailed comments. “With these frightening volatility levels and no previous history of stability, trading cannabis stock cannot be perceived as a sound long-term investment.”
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