After being down 62% on my $30k investment in The Green Organic Dutchman (TGODF), my holdings are finally starting to recover. The share price has gone from a low of $1.60 on December 27th to closing at $2.30 today (+30%).

The Green Organic Dutchman also received an investment from ETF Managers Group, LLC (ETFMG). Announced today, they bought over 13 Million shares(a 5.05% stake) for their “Alternative Harvest” ETF.

Under ticker symbol MJ, the Alternative Harvest ETF is “the first pot-focused ETF to trade in the U.S. The fund tracks an index of stocks across the globe that are engaged in the legal cultivation, production, marketing or distribution of cannabis products for either medical or non-medical purposes.” — etf

The Green Organic Dutchman is the 8th largest holding of the ETF. The top 3 holdings in order are Canopy, Cronos, and Tilray.

The Alternative Harvest ETF (MJ) has a market cap just over $700 Million. It’ll be interesting to see how (MJ) performs as legalization continues.

The recent TGODF gains have reduced my loss from 62% to 46% (+16%). Yes, I’m still down 46% on $30k. With today’s close my holdings are only worth $16,442.

Being down sucks! But, I continually remind myself why I bought the stock in the first place. I think the value in the future will be much greater.

More good news…. I think $1.60 was the bottom and we’re starting a bullish trend. RSI hasn’t been over 50 since late September. It breached 50 today! I drew a cup & handle (green) which would be amazing if it happened (it’s based on absolutely nothing except hopes and dreams).

I bought my first TGODF shares at low $4 just prior to the second peak in September. Then, I doubled down near $4 on what I thought would be a Cup & Handle formation in October. That didn’t play out which ultimately left me holding a $4.20 average (I did average down at $2.37).

Perhaps these recent price moves form another cup & handle? That’d be ironic…. One cup screws me, the other hooks me up. I’m good with it in the end.

As the entire sector progresses and The Green Organic Dutchman continues to grow, my TGODF shares could potentially be worth double, triple, etc. Exponential gains!

It’s a long game! Never-mind this 50% stuff. 1000%? ($300,258) That’s exciting! Go Green!

risksavage.com



SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here