GREY:FFLWF - Post by User
Comment by
gonecodeon Dec 01, 2016 11:55am
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Post# 25540718
RE:So if you wanted to get in on CGC, which do you buy
RE:So if you wanted to get in on CGC, which do you buy
From the way it is worded, MT is a give away at current level because they will have to vote on it, then they will have to set a date for the takeover ( all be it, the company remains separate but under the Canopy symbol) so at this point, I was long CGC and MT but moved everything into MT after this and doubled down.
Now shorts are going to pressure CGC which is playing the price on MT but in the end, once they see recreational use ( Trudeau wil do it as many states have already) this will be a mute point.
Mettrum is going to be bought for .7132 shares of CGC , whatever day they set in the new year so at this level trading for Mettrum, pretty much a no brainer.
Even if you listen to the people saying it was a bought deal at $8.42 a share , then you are inthe money by about .70 cents at current level. How they figure it should sell at $8.42 a share with .7132 shares means the higher CGC goes the lower MT goes. I didn't read that but if CGC goes down then MT would go up with the ratio some are saying and it isn't.
Or it would be sitting $8.42 a share on a bought deal. Crazy the way these things can be read.
But then again, two people can read the bible and take away two different meanings.
The way I understand it, .7132 shares will be given when the deal settles, which it may never happen if their shareholders turn it down. But why would they ? Dilution was my worry for CGC because it is over 25% of the float and if anything. CGC should be down and MT up up more.