RE:RE:RE:10% uptick on a low volume dayStarting tomorrow is an interesting week for cannabis stocks. Zenabis, TIlray, Canopy Growth, Canopy Rivers and a few more will be sharing their performance results.
Out of all these, I expect positive outcomes for Zenabis and Canopy Rivers while the others will also perform better than their last quarters.
The turning point for Zenabis came with last quarter results beating all estimates, its production is going full throttle and the co is also able to sell its cannabis through various channels and partnerships which is quite positive. The debt has also been managed fairly as co is set to share the following developements over the next few weeks
-launch of the drinks line
-edibles added to the portfolio
-i expect zenabis to be on the radar of a few cos for takeover bid as this is one of the main cos with lot of capacity, low cost and good infrastructure, Altman will be the CEO to work this out with the stakeholders and raise shareholder value
-most of the brokers have taken positions in this co from 7-11 cents and brokers are alwasy looking for 5-600% gains, we should see the media spinning positive stories again on zenabis
I am looking for 3 major trading sessions of 40% jump and 20+10% jump to take this co in 20 cents+ orbit. This is very much possible