Gamestop update and looking for a new investment in Medical Cannabis.

As readers may know if you follow me, I’m watching Gamestop as I have shares bought some at $110 and some at $46. Yesterday we opened around $144 (I think it was more like $160 but dropped back fast), It rallied up then fell halfway – probably scared traders getting out. But I’m in this for the long term. I don’t use leverage. So I’m not to bothered about this sort of Tomfoolery. I am excited about this stock and the future of this company. My take profits are in at a higher level but it might take a while to get there.

I’m looking for a new investment this morning – I’m invested up in Crypto, Bitcoin, Etherium and Dodge. I’m not keen on tech stocks as they seem to be struggling across the board. I closed my trades in AAPL, TESLA and NETFLIX last week due to fears of poor results. So where next?

Is Medical Cannabis a good investment?

I don’t think I’m very keen on investing in Coronavirus anything as I think it may be short-lived. There is a good opportunity for investment in things like the travel industry. However, again I’d like something long term that is going to rally.

At the moment there is a lot of talk on the radio about legalising Cannabis over here in the UK. Incidentally, we are one of the biggest suppliers of medical cannabis to Europe.

But it’s drugs?

This is true – however, I am personally in favour of legalising Cannabis use and controlling it. I understand that some major Tory politicians have their hand firmly in the medical cannabis pie (GW Pharma). So I am thinking that if it gets legalised they will be the first to open that door.

What bothers me? It’s drugs. I don’t even drink or smoke. Mainly because of my autism and I get a bit angry and start talking rubbish if I drink even a little bit of certain things.

So I’m placing a buy order on a small number of shares in GWPH. It’s a good time to buy as the MACD is down and it’s in a Dip. Probably because of us leaving the EU may be impacting sales.

Medical Cannabis IMHO is an amazing thing and is close to my heart as it can relieve so many ailments and it’s not entirely legal over here. Although you can get it through a GP it’s a fight. As these laws are relaxed in the future this could be a great stock to have.

I’ve bought at $214.00 per share – but because I’m with eToro I can buy a round number of shares.