In this week’s Marijuana Market Update, I provide some analysis on MediPharm Lab Corp.’s stock and have an update for the Cannabis Watchlist.
If you’ve been investing for any amount of time, you’ve run across a common saying as any stock takes a dive.
“Buy the dip,” investors of all kinds suggest.
It can be tempting, especially in an exciting and ever-changing market like cannabis, to take chances, to be risky and buy a dip in a stock. I’m not advising against that approach — I just want to make sure your approach is strategic.
Predicting the bottom for a stock is almost impossible. That’s why our strategy at Money & Markets is to target stocks in an uptrend.
In today’s Marijuana Market Update, I showcase a cannabis stock that highlights the risks of buying the dip.
I learned about this company from Melanie, who emailed me at firstname.lastname@example.org.
Love your platform. Straight-forward information with no BS. Excellent job, and keep up the great work.
Would you mind looking into MediPharm Labs for us? It used to be a hot stock but it seems it has fallen off the radar totally.
Thank you for your email and kind comments, Melanie!
About MediPharm Labs Corp.
MediPharm Labs Corp. (OTC: MEDIF) is a Canada-based company that produces and sells pharmaceutical-grade cannabis oil and concentrates for derivative products in Canada and Australia.
It also provides contract-processing services to licensed cannabis producers and growers in Canada.
Melanie is right: The company fell off the radar after reaching highs in late 2019.
This is due, in part, to a drastic drop in revenue. The company‘s total revenue dropped 72% from 2019 to 2020.
MediPharm’s revenue went from $13.9 million in the second quarter