Riding high on my recent sale I wanted to get the money back in the market working for me again. Knowing that the emerging industry I had already invested in would have winners and losers, I wanted to further diversify my holdings within the industry. Marijuana Company of America, Inc. (MCOA) has a vision of wrapping several brands from the industrial hemp industry, legal medical marijuana industry, and the emerging legal recreational pot industry. The business appears to be geared towards making money for its shareholders, though it is light on details when you visit their website. Nevertheless, I thought it would be a good addition to my portfolio.
I purchased 20,000 shares of MCOA for $0.044 each, the total cost was $886.95.
IGC the company that netted me this big profit was still intriguing to me. They had a news release a while back that said some of their product would be hitting store shelf in Germany by spring of 2018. After a big rally, many stocks will have a price pullback as investors take profits like I did. I set an automatic buy to repurchase shares when the price dropped below $1.20 per share. This happened the same day.
I repurchased 1,500 shares of IGC for $1.20 each, total cost was $1,806.95.
This stock did pull back even further the next day to less than $0.80 per share but recovered quickly. I think it still has plenty of potential.
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