RE:CGC vs TWMJFJust because Canadian MJ stocks are sold in the U.S. that doesn't mean it will lead to legitimate increases. People are highly misinformed. I had to explain this to my girlfriend's grandma yesterday who was very keen on throwing her money in here after hearing her friend making money. I wonder if those same people will admit to the massive loss they will soon be facing, or already facing given that they had bought OGI.
The flow of misinformation is revolting. Take this guy "Chris Kobryn", who published an article on Seeking Alpha (seeking noobs). He argues, "Going back to the original argument. November 8th will likely be a catalyst for marijuana stocks, and you can bet Canopy Growth will be one of the stocks hyped up. Should California or Florida, or even the other states involved legalize recreational marijuana, there will be a wave of investments in marijuana stocks, and Canopy Growth is the only one that legitimately stands out."
https://seekingalpha.com/article/4015990-investing-canopy-growth-marijuana-movement
How does he legitimize his argument? He speculates that CGC could go into the U.S. market. We are yet to get any indication that CGC is even interested. In fact, Bruce has always spoke against such a move, so it is odd to find our friend not even referencing this fact. How does this guy get paid to write this garbage? It is certainly helping the 'pump' factor of the 'pump and dump' equation. He is probably going to open a short position after his 72 hours expire.
There is only 1 more trading day before the election. What you see unfolding before you is the "sell the news" crowd taking their exit. Some will likely buy back in when its lower to "sell the news" again after the election. The election itself may cause shorts to cover before hand, or maybe cause a squeeze after, but post-election we will enter a period dominated by bears. When we get the revenue report, it probably won't show profitability, so the bears will pounce again. Then after the task force hype is exhausted, they will deal their death blow. Bulls AND bears make money. Just another day in the world of stocks.