TimMcCracken wrote: Free55dom wrote: I Have a question for you and would like an honest answer.
What was going on in your head as the stock price went down to the $6 range.
I am long and bought most of my shares between $2.60 and $4.00, I sold a big chunk of APH when it was $6.05 & bought a big chunk more of WEED at $9.
I don't have t explain why I bought at $9 because you know I truly believe WEED is the best long play in the sector.
I got really scared when the stock hit $7, as it went lower my fears went away, why? I told you why, I believe this stock will be in the $100 range within 24 months.
So please give me some honest answers.
Oh ya, I topped up again at $7.23, not alot because almost all my coin is heavly invested in WEED.
GLTA, Free55dom
I like others was lucky enough to buy my bulk of my position starting in early 2015 before the liberal government was formed ... and a liberal majority at that
My buy thesis was that the medical market would grow/ thrive and Canopy could be a leader ... I always think of Canada as Americas littler brother ... in 2013 as you know Colorado legalized the use and sale of recraitional cannabis ... and many states have followed since.
I assumed one day down the road in the future Canada would follow suit, however I did not think it would or could happen as quickly as it is looking like it may. My assumption was the time it was legalized who better to supply a market then existing LPs who are set up and already regulated by the government.
When I first bought Tweed their market cap was $100,000,000 and only had $1,000,000 in annual sales ... call it a P/S of 100x's ... so what has happened since? They have grown QoQ and YoY ... now their last reported quarterly revenues was $9.8 million (sales to December 31, 2016) and Mettrums was $5.1 million (sales to September 30, 2016) call it $15 million compared against today's market cap their P/S is 21x's ... which is 5 times cheaper than 2.5 years ago ... with pending legalization on the horizon and international opportunities it opens up room for even more growth and has de-risked my investment to some degree. I have mentioned this before but from my honest view buying CGC today is far less risky compared to 2.5 years ago based on what I mentioned above. Yes, more competition will arise however, the market will need it to support the pending future demand.
Like Potbeforeliquor my time line has always been long down the road 10 years or when I see growth opportunities stalled enough to not be worth the associated risks
The recent volatility does not bother me due to growing sale figures, growth opportunities, and the de-risks associated with legalization ... there are lots of grey areas, and it could be delayed but I don't care ... as it will just allow the company to grow it's capacity more.
Here is a quote from the recent book I am reading by Jim Cramer "we can't possibly be in shape to own stocks until we can live with the roller coaster of volatility"
Doobie said this a while ago "when you've been through a day of $17.86 to $9, well you are prepared to live through anything"
I don't make short term price predictions or directions but if I believed the stock would never get higher than $17.86 in the future I would have sold in November 2016.
I maintain for me buying Canopy today is far less risky than buying 2.5 years ago.
As per usual this is my opinion based on a long term investors view ... traders can do what they want in the short term I don't care.
Regards,
Tim