RE:RE:RE:RE:RE:RE:RE:RE:RE:WeirdI agree with you. News was out yesterday. Many people had the afternoon to read about it before the market closed. Yes.
Just saying, Canopy today, is so big, and owned by so many people, that it takes a little while to move the needle. If the big firms, like the Germany news, they will call-up their clients and start buying. More often than not, the big boys will only buy or sell on material news, so it really depends on the brokerage house or bank.
If it is something like, news of Canadian law passing, then yes, they will pounce in a second.
When Canopy was small, this type of news would have shot up the price yesterday.
Today however, much more sophisticated investors are in the name, along with the small retail guys. I know with my broker, him and I spoke three years ago when I bought Tweed, and didn't speak again(about Tweed) until the day it hit 2 Billion market cap. He did say to add, after it come back down to 8.75 in my TFSA and RRSP, but besides that, he never called me to buy or sell the whole 3 years. Almost all these guys read only what their analyts write, and buy only what their firms have highly rated, the rest of the news, they read when they have a little time. And crunching numbers?, well they will do that for you when they get a little spare time.
So like a Blackberry, it needs something really big, one way or the other, because everybody owns it, many in large numbers.
If the news is truly positive, we should see a slow uptick back upwards. What will move Canopy now?
1. Federal Law
2. Great Financial numbers
3. The rest of the news, will move it slowly up or down, yawn.