Tom Lee says the cannabis sector's performance appears similar to the bitcoin craze and the height of the dot-com bubble at the turn of the century.The mania and then share-price descent in marijuana stocks reminds market pro Tom Lee of two other big crashes, in 2018 and the early 2000s.
Lee didn't go so far as to say that a bubble was bursting in the marijuana sector. But he said the industry reminds him of some of the early internet business models, which he described as a sort of "profitless prosperity." Like the marijuana sector, cryptocurrency became a huge phenomenon and sparked excitement among investors. Bitcoin skyrocketed from about $3,600 per coin in 2017 to more than $19,000 in December of that year. Throughout 2018, bitcoin plunged, and it closed the year at around $4,000. Bitcoin currently has aAfter the bitcoin craze fizzled, some investors believed cannabis stocks were the next big growth area.
When did pot stocks rise like bitcoin?
Wondering why the comments by vincentmurgolo rokknnnrolla and Xtreme573 are hidden under 'more replies. Are those three troublemakers?
'Don't tell me what to buy, tell me when to buy it.' ~Tyler Jenks
Anything too good to be true probably is
When Pot is legal everyone will be growing their own. Bad investment in my opinion.
6 days left for tom lee’s bitcoin $23,000.
What about HK?
Not to mention he is the same fuktard who had a six figure target on bitcoin...where does CNBC find these clowns to come on tv
No shit
Why do you keep bringing back Tom Lee This guy is 1 can short of a six pack !!! FastMoney MelissaLeeCNBC
Buy $MJ
sonaliranade Can understand dotcom bubble, but what the fuck is bitcoin bubble. 😂😂😂
Was this the same guy that predicted Bitcoin would be at $20,000 right now?
Hey can you please post Tom Lees yearly predictions. How’s he doing? 😂
buy on hype, sell on smoke.
They will bubble up around the election and if democrats win across the board we will get banking and legalization across the nation. I bought $CNAB since they are American and make actual cash.
An overtaxed easily produced weed. What is the surprise here? Analysts may be smokin toooo much.
GavinNewsom seems the greed of your assembly killed the golden goose... Black Market sales booming...