Yes, I realize it’s early here in 2019, but my two biggest sector holdings, gold and pot, are doing great. (Yeah, I know, that’s a low bar, because gold has been in the doldrums for four years, and cannabis stocks got hammered in the fourth quarter, but still).
My favorite pot stock, The Green Organic Dutchman, TGOD.TO, touched $2.20 on December 27, and closed at $3.05 on Friday. That’s an almost 40% bounce in two weeks, which is nice. Of course it was $10 in September, so if you bought it at the peak, oops. I bought in the private placement before the IPO, so I’m fine with where it’s at, and I bought more in December, so I’m fine with where we are.
On the gold front, I’m a fan of Equinox Gold Corp, EQX.V, which peaked at $2 over a year ago and was under 90 cents in December. It closed Friday at $1.05. I will be shocked if this is not a $2 stock at some point in 2019, and ultimately it will be worth $10 within 5 years.
In fact, it will be $5 this year (but that’s only because they are likely to apply for a listing in the USA, and so they’ll probably do a 5 for 1 consolidation to make it a $5 stock, but I digress).
They have three great projects that will be producing in 2019, in diverse jurisdictions. They are fully cashed up, are looking for acquisitions (they made a great acquisition in the fourth quarter of 2018, at the bottom of the market, to steal the Mesquite asset), so I see good times ahead.
Not tomorrow.
Maybe not even this year, but over the next 2 to 5 years both TGOD and EQX will be much higher.
So far, so good.
See you next week.
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Tesla – The Bloom is Off the Rose
by JDH on January 19, 2019
Alternate Title: Tesla – Has this ponzi scheme finally been exposed for what it is?
I am not a fan of Tesla.
Yes, I’ve had a drive in the car, and the car is cool. It looks fine. It’s quiet.
It’s quiet because it’s electric, but so is a golf cart, and that’s the problem. People who have never driven in an electric car before got all caught up in the quiet, and thought that someone this big golf cart was revolutionary technology.
It isn’t. It’s a fancy golf cart.
I have nothing against electronic vehicles. No doubt, they are the wave of the future, and if you want one I suggest you investigate the great offerings from Jaguar, and Porsche, and other real car companies.
Elon Musk is a hukster and a showman, and on nothing more than flim-flam he was able to create a “car company” that up until Friday had a larger market capitalization that General Motors (a company that actually makes cars).
The company survived because governments around the world gave money to customers who bought them, but that money is running out, and without someone else paying some of the freight, Teslas are nothing more than an expensive golf cart.
(NOTE: I have nothing against golf carts. They are great on a golf course).
So on Friday, Saint Elon had to announce the inevitable: he is cutting 7% of the workforce, because without generous government subsidies, and in the face of competition with real car companies, no-one is buying a poorly built, expensive, golf cart.
Thank you Elon, I’ve done well on the puts, and I keep selling and rolling them forward, so I will continue to cash in.
More gloating next week……..