Cannabis Rally

By Hoda Mehr Wed, Feb 3, 2021

Hey Scoopers,

The vaccine progress and strong earnings reports by the big tech pushed the stock market higher into the green zone. — More on that in the “Overall Market” section.

Beyond the overall market, one beer stock rallied, while quite a few high-flyer stocks lost momentum. — More on that in the “What’s Up?” and “What’s Down?” sections.

Oh, by the way, cannabis stocks are back on an upward trend? — More on that in the “Water Cooler” section.

But, first, here is a recap of what happened in the market yesterday:

Market Recap

• U.S. markets: All three indices finished Tuesday in the green. Scroll down to the “Overall Market” section to read more.
• Cryptocurrency: Bitcoin’s price rallied to more than $36,000 per coin.

Options traders: MASSIVE shift incoming!

In 1992 … 2008 … 2012 … 2016 … massive market shifts took place to transform some people’s wealth…and now it’s happening in 2020.

What is it? “THE VOMMA ZONE” and it’s hitting again in 2021!

Learn more about it HERE and get a personal insight from me in your inbox.
(By clicking you agree to receive email updates and special offers from Market Traders Daily)

Vaccine Progress

All three indices continued their upward movement into Tuesday and finished the second day of February in the green. Tech earnings are pouring in, and investors are expecting good news.

In the U.S., more people are now vaccinated compared to those who have been infected by Coronavirus. And, the volatility fueled by the battle between retail investors and short-seller hedge funds is winding down, at least for now.

Drinking At Home

So, what happened?

Shares of Boston Beer (Ticker: SAM) were up more than 10%. According to Seeking Alpha, the retail sales report by Nielson shows a possible strong upcoming quarterly earnings report. People are staying at home and drinking beer, it seems. It’s no wonder why the company’s sales have been growing quarter after quarter. And, the company has remained profitable without any cash concerns. Of course, the stock continues to hover in the overvalued range because of its strong performance.

How This Simple Trick Has Predicted The Stock Market Telling When To Enter & Exit Any Surging Stock For Maximum Profit!

In my upcoming interview with Roger Scott, I’m going to reveal the unique trait the 1% have that could be the key to living the American dream. In fact, it’s the exact trait I used to build the life I’ve always dreamed of.

A life where I spend my days playing tennis with the wife…

Hiking up the beautiful mountains of California…

And going for morning jogs along the Monterey bay, having breakfast by the beach shortly after.

If I simply relied on my 9-5 day job, I would’ve never had the opportunity to live this kind of life…

Don’t get me wrong, the job paid very well… But I knew right away that it wouldn’t be the key to the life of abundance and freedom I was looking for.

So I looked to gain inspiration from those who WERE able to achieve it… And what I discovered was an incredibly simple truth… one that could help you become a better trader too.

Click here to see it now!

High-Flyers Are Down

So what happened?

Despite the upward movement of the market, quite a few investors’ favorite stocks were down. Quidel (Ticker: QDEL), Palantir (Ticker: PLTR), Hims & Hers (Ticker: HIMS), Virgin Galactic (Ticker: SPCE), Stitch Fix (Ticker: SFIX), and Beyond Meat (Ticker: BYND) were all down at least 5% today. It tells us that the market moved thanks to Amazon and Apple’s strong earnings, even though investors continued to sell shares in some high-flyer stocks.

Cannabis Stocks Are Back

So what happened?

The green rush stocks are back with another upward rally. Stocks such as Aurora and Canopy Growth showed up on today’s winner’s list. Thanks to three Democratic senators that are drafting the legalization legislation to be presented in a few weeks.

If you plan to get back into cannabis stocks, consider that there is still a tremendous risk that comes with such an investment. The path to legalization is only worth the risk if the companies you invest in have enough cash to live through any possible legalization bumps and drawbacks. Let me save this watchlist I created and put its link in the description for you folks to have a starting point.

If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.

About the Author

The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card