When meme stocks start skyrocketing, it's difficult to find a good entry point. Already, examples of a big rally in meme stocks happened in the recent past.
The cannabis sector has experienced a large amount of growth over the years. From just a few legal states and global regions to now over 50% of the USA has a legal cannabis market. Yet even with all this progress the industry continues to face an uphill battle. Cannabis operators around the United States are dealing with several conflicting concerns.
Aurora Cannabis Inc. (NASDAQ:ACB ) Q4 2024 Earnings Conference Call June 20, 2024 8:00 AM ET Company Participants Kevin Niland - Director, Strategic Finance and IR Miguel Martin - CEO Simona King - CFO Conference Call Participants Matt Bottomley - Canaccord Eric Livshits - ATB Capital Markets John Zamparo - CIBC Pablo Zuanic - Zuanic Associates Operator Greetings and welcome to the Aurora Cannabis Inc. Fourth Quarter 2024 Results Conference Call. All participants will be in a listen-only mode and a question-and-answer session will follow the formal presentation.
Aurora Cannabis Inc. (ACB) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of a loss of $0.18 per share. This compares to loss of $1.50 per share a year ago.
U.S. reclassifying marijuana would give companies a tax break and more cash to spend
Short-squeeze moves can be ferocious and are perfect for investors seeking quick trading gains. With the possibility of a rate cut-induced rally, I am bullish on some short-squeeze stocks for the next few quarters.
Marijuana stock investors are seeing the continued volatile action in the sector. There are more unknowns regarding reform and regulations that lead to more speculative trading. Still, the interest in finding the best marijuana stocks to buy comes into play. Investors want to be prepared for the next phase of the green rush in the market. What this could look like on the way to better trading is as follows. To start it's an election year and President Joe Biden has already voiced his support for cannabis reform.
If you're on the fence about which stocks to sell as we head into June, keep reading. Three equities stand out in the present market and should be sold before June to prevent potentially significant losses.
Going by the price action in some stocks in the recent past, it seems that the meme stock euphoria is at its early stage. Potential rate cuts to boost economic growth will likely be a perfect recipe for a full-fledged meme stock season.