lots of good points made todayI especially liked the rebuttal post that blew some holes in the negative ninny that keeps braying out bad news.
Earnings out tomorrow for Canopy and the streetspeak is negative. One of the posters feels that we are going to shine when we take root and grow in the US. Makes sense in light of the facts that Canada threw out an anchor at every turn to hold up all of our marijuana hopefuls. So much Canadian initiative to launch legal rec for adults and so fumbled by law and policy makers.
A little history review shows Canada going legal for rec for adults but we built the system out of the medical segway. Medical in Canada was based on smokeable products so a conflict right from the getgo for healthy consumption. Then we dragged anchor for a long time on edibles, trying to decide how to release them and came up with some of the stupidest ideas ever in regards to possession limits, strength of products and how many six packs of beverages with thc that you can buy. This is a work, still in progress to get what potpreneurs can work with while protecting consumers from a product that they probably don't need protection from. Licensed and regulated marijuana is still building a following against the black market weed, a lot of who delivered edibles illegally in nice looking packages while our pot policy makers were busy fockin' it up.
I sold most of my shares in WEED to protect my profits but recognized the US as being the Big Enchilada for marijuana and hemp speculation. I picked Acreage Holdings as a huge US Multi State Operator that has all of the required pieces that Canopy is going to need going into the US greenrush. Big Wheels turned gears and Constellation piled into marijuana and hemp with a 5 billion dollar investment in Canopy who secured the driver position with Acreage as a logical segway into the US marketplace, when the legalities fall into place.
I have ridden the ups and downs with several marijuana stocks and I am very excited for our future with the US. CGC/WEED is well positioned with a very entrepreneurial overseer and capital provider Constellation Brands tweaking the action in anticipation of the US greenrush launch.
There will be some shareholders heading for the door with the negative earnings report that is imminent. Hopefully it is just the weak hands and keep in mind that short covering will take advantage of this report. We have one poster who is keeping us aware of the huge volume of shorts out there and it is probably a good time to pay attention to what just happened with the Redditt deal and before that with Tilray. More investors held or increased their shares and drove the price of the stocks up hugely and those short sellers had to cover. See the big picture and think long, at least until the US greenrush launch and trust in the team that is putting together the world leading International marijuana company. Our guys saw a bigger future than most here comprehend and took action to be a part of something great and profitable. A couple of more ducks in order and this will fly.
Don't forget about Acreage Holdings who will get renamed when Canopy takes the wheel in the US. Acreage fixed are on sale by my calculations for anybody willing to wait for a nice return. My number crunch gives you a double at todays prices when Canopy assumes the Acreage shares and launches Canopy USA. glta and dyodd