@manxam said in I have $500 spare!:
@StorageNinja : I don't care about the company, I care about the stock. Having bought a bunch at $12 , I've seen highs as much as $72 with an average of about $62 making for a decently performing stock. This value drops to 40-50 every month-or-so so it's an easy way to make some cash. One can likely make $10+ per share within a few week period. It won't make you rich but it's not a bad payout for no work.
Most researchers forecast a cap somewhere around $100 this year. Currently, growers cannot keep up with the demand here in Canada and many shops are suffering so there's definitely a "need" for their product.
He might as well head down to the casinos if he's going to "invest" this way. The "stock" as you call it IS the company. That's how public markets work. Now I understand what you're saying in that you don't care about the underlying business and that you're just interested in the opportunity that volatility creates, but that's a dangerous game. And those "researchers" are just analysts at firms that make speculative forecasts based on a lot of variables about the underlying business and public sentiment.
I see you've made some nice money in this... Congrats. Just as fast as it can go up though, it can go down so be ready to lose it all next time if you don't time it just right.
