bumped up Q releaseMaybe they want to tell us something positive! Gawd knows we've been beat down across the whole sector.
There's lots of money made and lost on these swings, if you can catch them right. I have never been good at that kind of trading so I am just a buy and hold guy, that should have sold sooner because no matter how good a stock does, they have lulls or corrections.
Some form of legalization or decriminalization in the US is going to be a gamechanger tantamount to firing the starting pistol for a greenrush, the likes of which the world will only experience once.
I sold most of my Canopy after the first run-up to $78 but not until it dropped to $48. I'm still holding a few waiting for the US greenrush and I already positioned myself with Acreage Holdings, which has been a shytshow but waiting on the same thing which is some form of legislation by US politicians such that Canopy pulls the trigger on the deal they have already inked and paid for, that will happen with said "triggering event"!
I got into Canopy after they swallowed up Bedrocan, which I owned because they seemed to have the most going of all the ones I researched. I was underwater on Bedrocan but averaged down with Canopy shares when they were just a twinkle in the eye of potpreneurs.
I figured it was a buy again at $20 but Acreage struck me as a better deal, prior to their revisit of the deal they inked with Canopy. Now Acreage is so cheap but once they were touting over $3 billion for the original deal. Marketcap is now 150 million because it is so out of favour with investors. Murphy the US politician took care of himself, his company and cronies, I think, but Canopy made sure the $30 million went to shareholders of record of Acreage in a one time dividend. All they need is the triggering deal to finish this and Canopy redeems the fixed shares of Acreage and their cost is a small increase in sharefloat to print up shares of Canopy for the exchange. Cheap!!!
The problem I think everybody has is the "if" clause which basically states that Canopy can follow through with the deal "if" they choose to or they can walk from it.
I have studied on this with a lot of effort and it is clear to me that Canopy has their eyes on the US and Acreage or another MSO like Acreage is going to be required. It is concerning that they have got connections and financed other US potpreneurs which shows committment to their cause and businessplan, so why wouldn't they complete the deal with Acreage! They've got most of what Canopy needs for rapid set up. Don't forget the 300k sq foot facility Canopy is working on in NY.
We either get a triggering event to make this happen or Canopy decides to rely on State Law in the pro-pot States that get to call the shots rather than the Feds. I am not aware of any dissention from that deal and the Feds seem to be honouring it, although they have also made it clear that they don't necessarily want International competition with the NY stock exchange saying they will pull the listings of any company that touches the product and good old TSE said they would do the same which is assinine to me for a country where pot use for adults is legal. Self-serving protectionism!
I can't see the foot draggin' going on past the 2024 elections because the US voters are in favour of decriminalization and open commerce and either party could use the votes.
I got lucky with Canopy on the Canadian launch and the US greenrush is going to be 10x large!
glta and dyodd
ps. If Canopy could bring in the numbers on their US pot companies and legally include them, I don't think the ledger would look red. I think we would see some serious black with more to come.