RE:RE:Until it goes back to $15/$20, seems no end in sightstarsearcher40 wrote: To suggest $15/$20 isn't realistic on any front. Personally, $33ish could happen, and if so, I would be seriously considering buying at that point. From current levels, that is only a 12% drop, and is certainly not out of the question. The stock has had that and more in the past few days. As for buying, I'd certainly rather 12% in my pocket than giving it up to the market and having to wait to recover it.
MNK3240 wrote: Seriously, there is no life in it anymore. Don't wanna think about that low sp but gradually, it's heading towards that, not bashing, it's just bitter truth for us to accept!
$37 is key support. All that matters is the Fed announcement tomorrow. Market sits on a razor.
Trigger lower would freeze up liquidity (somehow worse than is already going on), and markets will puke. Thats breaks WEEDs long term support and we head for $32.
On the reverse, we move higher/stay flat and somehow someone in this industry does something remotely interesting but i doubt it. No real catalysts now that Farm Bill is a flop. Its tough for me to see how this gets to $60 in the near term. Unless theres so much tax loss selling keeping people on the sidelines?
Capital is looking for distribution and brand and Canopy hasnt proven it has any secret sauce. if anything all these partnerships are showing the market is that the cannabis companies have no idea what they are doing and getting companies to bail them out.
To think Canada (Canadians) had the human capital to pull off creating and maintaining leadership in this industry was a fallacy.
Valuations still havent "washed out" so real money isnt going to look at these until then. These are glorified ingredients companies. Start acting accordingly.