Anyone who owns stocks gets the plastic covered notices in the mail from Computershare, the transfer agents who communicate with shareholders on behalf of the corporations. For years, I would just automatically recycle what came in the mail. This year was the first that I actually started glancing at what came my way because I had finally become interested in attending an AGM of any company that I owned shares in.
It’s been my ongoing effort to get people interested enough to take action in the stock market. Weed stocks are the ones I get asked about the most. Whether you like pot or not, Canadian investors should have some weed stocks in their portfolio. Let’s put it this way: the market barely nudged the last week, but my portfolio’s value went up by nearly 5% because of my weed stocks. I’ll say it now and I’ve said it before: When it comes to cannabis stocks, if you don’t smoke it, own it.
One of my brothers was motivated by an investor buddy of his to invest in a company called Liberty Leaf based out of Vancouver. He told me he was going to sink a whack of dough into it – we’re talking MUCH MORE risk than I’d ever take on anything. I was just so happy that he was finally investing in stocks. I wanted to join him in his first purchase, so I bought some shares to be a part of his journey. I bought shares at $0.20 in November 2016 and more shares at $0.17 in March 2017. I learned later that my brother’s wife and her family members also bought large amounts of shares. LIB is the only stock I’ve ever bought that wasn’t yet trading on the TSX. It trades on the CSE (the Canadian Securities Exchange), but buying it was no different than buying any other stock.
Both times I bought shares, the price immediately went down afterward. I wasn’t sweating it, but I was sure my brother was. We didn’t talk about it again. I didn’t bring it up because it was his trade and I didn’t want to influence him one way or another. It wasn’t until early December when the price doubled that the texts starting coming in from him. This exponential climb has definitely brought about Christmas cheer to this household. It’s now the end of the year and the price closed at $0.80.
I was booked to visit my family in Vancouver over the Christmas holidays and it was great to read from my plastic covered notice that I was actually going to be in town for Liberty Leaf’s AGM, my very first for a publicly traded company. Of course, I didn’t read the information properly until I was on my way to the AGM; I learned that I was supposed to sign in up to three days prior to the AGM if I planned to attend in person. Otherwise, I could vote on the AGM items online.
Well, I’d crashed four weddings before (but who’s counting?). What could happen if I crashed an AGM? I was once a board member for a Vancouver theatre company, how different could this be? Was there going to be wine and cheese? Would someone bust out and perform a sonnet or break into song from a popular Broadway musical? Would the board directors be like the artistic directors of the theatre company and get into a dramatic quarrel? I didn’t know what to expect.
The folks at Liberty’s sleek company headquarters were extremely inviting. They checked with the official scrutineer from Computershare if I could attend. He was down with it, and the kind Liberty Leafers – including the magnetic President & CEO Will Rascan – seemed sincerely relieved that I could remain present. As much as I felt like an interloper with the few shares that I owned, I was glad to represent my family of shareholders.
There was no wine, cheese, drama, song, or even weed. It’s a corporation, after all. It was all business, which I can really appreciate. The meeting was over and done within an impressive 10 minutes (whoa, Kelly!). After, I had a nice chat with Will Rascan who was genuinely interested in my family of investors. They even let me take a group selfie for my blog and encouraged me to help myself to the table of Liberty Leaf swag to spread the love to my family. As short as my visit was, I felt warmly welcomed as a special guest. It was a privilege being able to interact with a company that I own a piece of at its earlier stages of growth. I’m sure that the next time I have a rare chance to attend a Liberty Leaf meeting, the stock price will be much higher and its operations will have expanded considerably.
If you don’t own any weed stocks yet and don’t know which ones to buy, you can always consider the Canadian ETF, HMMJ, for a starter. It started paying a dividend last quarter. I don’t see a good entry at the moment as things have gone ballistic for weed stocks. I’d rather wait for a bit of a pullback before scaling in and buying more shares. I will cover more on this topic in the new year. This is an exciting time for the cannabis industry and I’m proud that Canada is at the forefront of it.