Canopy Growth Corp T.WEED

Bounce, Pass, or Short Game?

[Bookworm28]

Interesting developments for the sector over the last couple of days. I haven't been big on the sector in general, but the selloff of the last few days has garnered my attention, so I'll ask...

Is it time for a bounce, or would it be a good idea to pass? Not much giong on since the effort to tag-on the SAFE act to the NDDA bill failed. Now there's talk of last minute tag-along efforts with the federal budget omnibus bill. Not being familiar with U.S. legislation, what are the odds of this being an option before December 16th? Is there even enough time?

Other things of interest include the break out of the Canadian operations, and some speculation on whether STZ might be buying WEED/CGC. There's often this type of talk after a stock takes a hit, but it does pique my interest given the recent break out of the Canadian operations, and STZ's current stake  in the company 35% I believe + a couple more points with the convertible notes that STZ holds.

Last but not least, is it a good short at this point, or has the easy money been made already?

TIA for opinions.

[Bookworm28]

Addendum: Make that the NDAA bill, not NDDA. Thanks to some answers in a previous post of mine (e.g. lou64 for one - good comments).

[widrig]

I like the rumours of STZ buying the remaining 65% of WEED. We need  nice pop into the $6 range though, should fetch close to $7 with premium 

[quinlash]

You could always Dollar Cost Average into a longer term Bull position.  IMHO legalization is going to happen however the timeline is still deeply debated.  Short positions are crazy risky so I never short. One short position on a stock that makes a big jump can end your trading career in the blink of an eye with every dollar you made over the years going towards your cover order. Anyhow

[Rotaluceps]

Anybody who average down will lose money. Stay on the side until legalisation happens and at that time the Can companies will be even more on survival mode so you will have more money to buy more shares. Though I wouldn't buy any, at least you will save cash.   Think.... the legalisation or at least the banking act should have happened a longtime ago. There is more that the feud