The Market Sets the PriceI tried to explain this earlier and from what I can see now it appears to be playing out to the advantage of ShareHolders in Canopy Growth. As of this week there is a marked reduction in available shares on the Company due to the consolidation. Investors and traders logging trades of any nature are drawing in those shares and therefore removing the amount of "Play" in the float.
The majority of investors and traders (big and small alike) prefer Long Positions and increasing shareprices. The minoity use Short Positions and count on a shareprice retreating. Long Position investors and traders can ride out a shareprice retreating however Short Position Traders are under contract to buy and eventually get pushed into Buying Back / Covering their trade.
While we can certainly look at the fundamentals of the stock and say that the shares remain under-valued based on virtually all fundamental measures I believe what we are actually seeing here is a shift to the upside due to market mechanics and Supply / Demand on the shares.
Regardless of where we finish 2023, it is of my opinion that 2024 will be much better. I will also re-iterate that no matter what anyone's opinion is on anything the truth remains that The Market Sets the Price.
As a note for the season:
I hope everyone is ready for the holidays, be sure to plan quality time with friends and family. Take lots of photos, eat too much, drink too much and laugh too much, be rich in those things and you will never worry.
Best Regards,
Q