mydogchach wrote:quinlash - (4/12/2021 1:56:50 PM)
Pullback tied to Aphria Earnings Aphria failed to report numbers that beat the street and are seeing a big pullback on shareprice. There has been no other negative news reported that I am seeing therefore it is reasonable to expect this is the root cause of the sector wide softness.
IMHO this is nothing more than a "buy the dip" opportunity and a chance to shake off weaker investors who thought they had it in them to ride the big moves often seen in the Cannabis Sector
Hexo price at Feb 16 Zena announcment: $11.50
Hexo price today: $7.30
Sure, Aphria might have helped drag some stocks down (but there's other stuff going on, too) - but Hexo had already dropped $3.00 before Aphria released it's numbers.
Who's fault was that? Oh right, the shorters and the black market.
Feb 10 Feb 12 Feb 15 Apr 12 Hexo:
Feb 12 close: 9.43 13.05 9.43 11.52 7.34
Apr 12 close: 7.34
Variance: -22%
Cron:
Feb 12 close: 15.56 15.55 15.56 13.19 10.26
Apr 12 close: 10.26
Variance: -34%
Weed:
Feb 12 close: 51.14 66.21 51.14 53.41 34.73
Apr 12 close: 34.73
Variance: -32%
Apha:
Feb 12 close: 21.55 33.37 21.56 27.50 17.47
Apr 12 close: 17.47
Variance: -19%
ACB:
Feb 12 close: 15.80 23.96 15.80 17.84 10.10
Apr 12 close: 10.10
Variance: -36%
You can easily compare between the 5 on your broker. You'll see that the reason why Hexo is doing better than Cron, Weed and ACB is because of the 22% increase on Feb 16 (the day zena acquisiton was announced). Market liked it :). Now the sector is hurting, carefull out there, important to hold 7.08 CAD if we don't want to be in a weekly downtrend.