RE:Finally, back in. Feels good. :)Last time you were around here you said that you would be buying sub 30. Would be nice to hear you admit you were wrong and that you missed the big run. At least pumper star is back. Sure beats spreading fear star
starsearcher40 wrote: Bubbles are bubbles are bubbles. And this bubble has now burst. Hopefully, people who rode the bubble up into the 70's made a ton of $$'s and sold near the top. Great play if you did!
The stock is at an interesting point. Yesterday had the characteristics of a final washout, with this morning providing further confirmation with selling on the opening and then a strong bounce. For myself, It's what I've been waiting for, and with that, have bought back in in the $42's to $44's.
The stock is still in that "shellshocked" stage. People want to believe the pain is over, but are hesitant to buy. We're at that point now, where the stock hovers. As confidence comes back in (and I think this is warranted at current levels), the buying will pour back in. From there, confidence and greed return, and the stock should be in for a significant bounce back up to somewhere in the $50's. Personally, I would bet low to mid 50's, but it could touch $60 briefly if overall market support also returns. In either case, it's a very healthy return from current levels in what will be a fairly short window.
Now what's really interesting is what Canopy will do with all that cash. Right now there's a fire sale on any number of mj companies. If expansion continues to be the game here (and I believe it will be), it makes complete sense to see some acquisitions over the coming weeks.
Sidenote: While I don't like riding bubbles up, I don't mind shorting the heck out of them at or near the top. I tried for 3 days to short in the $70plus range, and could NOT get shares to short. Now THAT was torture!
Enjoy the move back up everyone. The pain imho for now is over...and then some!