CommonCentsforDollars wrote: Hey Sky,
Thanks for the post. As it stands the vote garrnered 227,416,762 Votes FOR and 33,028,968 Votes Against and a whole lot of people not voting one way or the other. The three biggest hurdles with the vote was having such a mass abundance of Retail Holders as the average Tilray shareholder owns less than 300 shares (fact) and the 2nd hurdle was the amount of
misinformation circulating through social media around the vote. The 3rd hurdle was using a date of record from back in June where it was getting to a situation where they were requesting votes from people that no longer held the stock. I mean a 50.63% vote For was surely not overwhemling. It took 3 times to finally put the post through the hole, barely.
Yesterday the markets were getting wacked, all week the MSO's getting hammered by American Banks
around the confusion over leaf touching assets. Also in the mix, Shorty has been hitting TLRY stock every single time news is being released for the last number of NR's. Also take note 33 Million shares had a No Vote attached to those shares. So with the results of the vote a portion of the No Voters could have been throwing in the towel. Yesterday wasn't a one dimensional day by any means with a multitude of variables affecting the share price. No pop should have been expected considering all the variables at hand.
While it is good to have entry and exit plans I have a longer view outlook.The world is opening up to legal cannabis slowly but surely, the sector going forward will have far more M&A and I like that Irwin is the top CEO in the sector for M&A experience. Now shareholders have finally given him the ability to build something special. I am on for that ride.
You mentioned you are tired of the sector, for myself I find it to be the most interesting sector although agreed waiting on the politician circus to the South can be tiresome and wears some patience out.
USA will progress and so will Europe amongst other jurisdictions of the world. Maybe instead of "reducing your exit" strategy you would be better off at that SP point to reduce the quantity of shares you own. The "all or nothing" strategy doesnt always bode so well in the long term.
Cheers
momo
skyplt wrote: I listened to the call. Mostly legal talk. The only two items that meant something to me was the first vote; yes. The second item was how Mr. Simon wrapped it up in a succinct and professional manner thanking shareholders for the vote of confidence. There was no off reading. I was somewhat disappointed not to see a bit of a bump but I believe today's decline (across the sector) was driven by CGC's CEO remarks yesterday suggesting their YoY would be down; as well as MSOs taking a hit due to the unlikely event of legalization in the USA anytime soon. In retrospect I believe the Yes vote was pretty much a non player as the CEO suggested last week they had 49 percent and well on their way to a quorum. This protracted decline is wearing thin. My average cost is in the high 16s CDN. At one point I was aiming for 25CDN exit but will take anything above 20CDN by year end. I still believe Tilray is the best of the bunch...but I am tired of this sector. Too much depends on politics and elected officials taking action. The politics south of the border is just nasty IMHO. These folks would cut off their nose to spite their face. This is the primary reason I have reduced my exit target. It is no fun watching any investment lose 2 to 3 percent day after day and this sector has been floundering for well over six months.
CommonCentsforDollars wrote: For myself the share approval was the only important aspect of this vote. I would say we are good. I didn't listen to the Call live today. There is reference that a recording of the Call will be available in 24 hours. Once available I will give it a listen.
Cheers and all the best to ALL the LONGS.
Brightsand wrote:
I agree it's a good thing it passed, it's my understanding that the other parts did not pass. Is that any concern or are we good? Thanks in advance