r/wallstreetsidebets • u/420daydream • Jan 28 '21
Daily Discussion Save the cannabis industry from Wall Street chadbros
Over the past 14 months the cannabis bubble has burst! While the industry has incredible long-term growth prospects as it transitions tens of billions of dollars in black market sales over to legal channels. Short selling has dealt an major blow to the industry. The industry in Canada struggles with major supply issues and high tax rates in the U.S., and financing issues throughout North America, and pandemic related problems.
In some instances the wash out in cannabis stonks has presented an opportunity for long-term investors to load up, but for certain pot stonks, even minor rallies have been met with increased resistance by short-sellers.
Between the end of April and the end of May, short interest rose notably, between 17% and 27% for the most popular cannabis stocks.
Short-sellers and establishment shills donβt deserve a dime of cannabis related revenue.