Institutional buying: growing by the day If you watch the trading patterns, there is clearly strong institutional buying at work and the underlying movement is clearly controlling the stock price right now in a positive consolidating manner as we build strength. Some of the swing traders are getting nervous (lol--as they don't have the patience) but the underlying current is strong and the deep pockets are transitioning into slowly driving this upwards and onwards, not the shorters.
The most significant event from an institutional perspective this year isn't the legalization date for rec, but the Summit getting out of the way and clearing the way to legalization. In my view, once we get that official clearance next week, this will open the way to continued institutional buying and bullish trending upwards.
The shorts had their moments this spring of being able to influence the SP. But the institutional investors, are coming in gradually and silently in waves and are clearly stronger. This will also force the shorts to cover in time.
Last fall there was a strong and measured upward trending and that was mostly from retail. Canopy has never been stronger, our revenue streams will be going into full torque mode very shortly and well if the conclusion isn't obvious where this is all heading, sell and miss out!! This is a once in a lifetime event and its not going to unfold quietly in the hands of the fear-mongering shorts and nervous retailers. You can bet your stock account on that one!