RE:CannabisOn top of the massive earnings from aphria a day earlier.
aphria really threw some water on the fire by retracting guidance and saying there is uncertainty with covid.... obviously though right?
canopy also announced more restructuring today and a 800mil charge. more lay-offs.
To be honest BC - there just isnt the institutional investment in the sector to hold some value to account. They are letting the sector mature a bit before investing again this summer. Makes shorting a very easy trade.
Luckily - the amount of shares short they are already at - and at these low levels - should be limiting.
FIRE has been very stable in high 20's - which is a good sign. They need to prove out their buisness model and show growth and profits - and when those institutional investors come back - their eyes will be set on the right company.
you have exactly 4 mths where you will get 2 earnings reports Q3 and Q4 which will set tone. growth, cost reduciton, profitability = investment.