Those overpriced stocks are more shitty than all the shitty altcoins or ICO tokens. 
At least it is better than those shitcoins right now and is profitable despite the risk. Nevertheless, I also think that it's bull run would not last and buying in some of it at this point of time is a waste IMO. Maybe those who sold their bitcoins used it to invest in this surging industry.
Only a part of it. Those who sold their bitcoins during the bullish season probably invested their money on other things beside marijuana unless they reinvested it on stocks before the bearish season started.