RE:RE:RE:2:00 p.m.rocketjsquirrel wrote: jayjay, have to agree. There is huge shorting pressure to bring the nosebleed valuations of companies like CGC and ACB into the world of reality. If one looks at the likely retail investment in this company over the past months, it has occurred a prices higher than they are right now. I'm guessing that most retail investors are bagholders right now. The general stock market is again diving and I personally expect more general downside. So for this stock I suspect that the trend suggests next meaningful 'support' rests at around 7.50 (US). At that point, I think retail sell volume will dry up and only the shorts will be pressing to sell further. I'm down a ton of money but am thinking I will buy more at around 7.50 if it drops that low. Even then, I'd buy in small increments of a planned purchase. I think I'd be absolutely stupid to buy right now as this is a falling knife. After a week of emotional wrenching, I'm giving up on the idea that anything immediate will 'save' this stock e.g., a deal announcement before the end of the year. I am accepting the idea that I need to just sit and let this all play out and wait for next earnings report to move the stock up. Again, still more drop seems inevitable right now. On the other hand, I am also betting that a deal will come before next earnings, because prospective company like Diageo won't want to see the stock price increase that will likely occur.. So again, nothing to do but sit and wait until then; go do hobbies
Thanks Rocket for a very sensible post