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Rob Armstrong, an oil camp chef living in northern Alberta, plunked $37,000 of his savings into marijuana stocks a year and a half ago. He’s quadrupled his money.

Retail investors like Armstrong and larger institutional players have been getting rich from the high-stakes game of betting on the peaks and valleys of cannabis stocks.

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From his home in tiny Lac La Biche, Armstrong has become an avid student of pot stocks, companies and news to plot his investing strategy. His portfolio has reaped big profits, but there have been gut-wrenching losses along the way.

“Every time Trudeau talks about it on TV, the shares climb,” said Armstrong, who spends 80 hours a month studying the market. “Little things either put this industry into a frenzy or into a downturn, just with a snap of the finger.”

After plummeting from all-time highs last spring, the stocks appear to be riding another spike. Armstrong expects a rally into November, just like there was last year, when a fury of trades sent stocks soaring before a broad sell-off helped cause another collapse.