Investors dive into marijuana stocks, raising concerns about green bubble
Before Brad Austin arrived at work one recent morning, his stock market investments were up by $4,000. The bump was something the sales manager at an Edmonton car dealership has become accustomed to, despite having no prior trading experience and no financial advisers to guide him.
Austin says he knows what he’s doing, but he also has luck on his side. He won $20,000 playing slot machines at a casino in August and decided to drop all of the spoils, plus another $5,000 of his own cash, into another big bet: cannabis stocks.
He has not been disappointed.
Austin made $70,000 — close to what he’d earn at the dealership in an entire year — only five months into what he expects will be a years-long investment play.
“I took that $20,000 plus $5,000 of my own, and it was just growing, so I took an additional $20,000 that I had in my savings,” Austin said, adding he believes his investments...
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