RE:What a haircutWhat caused the jump in the first place was short covering that got out of hand...a temporary short squeeze. But at the end of the day, the actual news was nothing, because the ONLY thing that counts is legalization.
So once the short squeeze ended, as well as some dumb traders buying in, the inevitable happened. Short positions were reaquired and the stock tanked. But you have to ask why it tanked even further than the baseline of the day before. Yes, you can blame some on the overall market. But more so, yet another falso hope has now gone by the wayside, and frankly, the gang is running out of false hopes. Safe banking is also a false hope for example. Because at the end of the day, it is full legalization or nothing. And now, all you're really close to is yet another step closer to nothing.
And then there is the ULTIMATE boogie-man. The fact that Canopy is now YEARS AND YEARS behind establishing a REAL footprint in the U.S., while literally hundreds of other companies have planted a well-established flag and are expanded. The Clowns here want to pin their hopes on Constellation. But the fact is, they screwed up badly, and now...if at all...are going to be playing an impossible game of catch-up. The timing for that win has come, and now has FULLY gone.
I've said before "Last one out turn out the lights", and this is showing to be completely true. This party is over. But more to the point, this ship has sailed.....and sunk.
Nothing left but Clowns clinging on to false dreams. Another round of Kum-by-ya boys. I'm sure that will help. ;)
smallcaptdr wrote: Volume was the highest this year and it plummeted as ACB did too Friday. When a stock opens at $5.10 and closes at $3.83 is an incredible sell-off but what triggered it? was it, President Biden but that seems positive especially if the US legalizes marijuana, Cannabis stocks have been the poster child of what sector to short. I'll be trading this next week, I trade almost anything if there's huge volume, I'm an Oil stock trader but every day I'm jumping in or out of stocks with volume, and at any given time I'm trading 4 companies at a time.
A Proclamation on Granting Pardon for the Offense of Simple Possession of Marijuana | The White House
