Market Makers are leading this stock lower.I can't tell you how much it hurts to watch ACB's Closing Price RSI plumet to depths that we've previously not seen. It comes as no surprise that current prices are now well below the 1st percent of all trades since the November 2017 run up.
The truth is that the big banks and investment houses (market makers) stridently disagree with all the shareholder hooplah on these boards and are actively trading this stock down. Why? Could it that the merger erased $616 million in market capital and they are seizing on the immediate opportunity to make up for the loss before any meaningful cash flow happens later this year?
ACB's closing price RSI headed south of 50 on July 9th, plummenting to 20 by July 13th. Even at that level, new lows of around 4 were experienced as recently as July 23rd. Since then, RSI has recovered to about 20 as of today's close. Despite this increadibly oversold condition, the market continues to beat down the price. What does CIBC and other market makers know that the rest of us don't?
Cam, if your listening - get a hold of your expenses and start showing a profit! It is the only thing you can do in the short term to turn this ship around.
Lastly - these boards talk about revenues as though it means the same thing as profit - It doesn't!
Having all the revenue in the world won't help if you spend it faster than you make it.
For those in need of accounting 101 -
Profit = Revenues - Expenses.
It is the after tax profit that contributes to retained earnings. It is retained earnings that add to shareholder wealth. Revenue is only one number in the mix. The focus has to be on expenses.