Friday’s Earnings Expectations Full disclosure.....I'm holding long with a five figure position and don't expect a significant uptick any time soon
As I've been stating for a considerable time that I see Canopy trading in the $6.00-$16.00 range until mid 2024.
WRT tomorrow's earnings, I just don't see it. When you study the true metrics and environment, the only educated short term conclusion is poor or flat ( but I just do not see that )
I sold some of my position just before the closing bell and expect a red vertical south line at the opening bell. I will gladly buy back and increase my position...Very easy trading actually.
One of the questions I'm left scratching my head at is why Friday ? I've never been interested in release dates of any Company but why has it been moved up and on a Friday. Interesting stuff
Finally....for all those that think I'm bashing, I'm not. I'm just a realist.
So if your long....no worries. Canopy will bounce back but IMO it's just not now. I strongly believe that mid 2024 is when things soar for the MJ sector and Canopy Growth.
Good luck tomorrow and happy trading
G