Tomorrow/Next Week could be GoodTomorrow the US VP is holding a round table on cannabis reform, that's big news and may kick off a whole new round of interest in cannabis investing and bring this stock to a point where short squeezes are again a regular occurrence.
Shorts have been enjoying the trends for far too long IMHO which those still holding short potentially living in borrowed time before the greater market starts pushing them into buying back (covering).
There was no negative news today to justify the sell off, I believe what we seen is large shorts dropping shares to try and gather cheap shares to cover on by intentionally popping short stops. It's a dirty trick but it works on those who rather set a stop at a loss rather than be patient and set stops at profits.
I certainly cannot speak for all cannabis investors but I hold for cannabis legalization in the US which I believe will come in time. We do not know the date but every day that passes brings us 1 day closer. Tomorrow Harris may actually provide insight to the timing.
Canopy is trading well under its own book value so it's cheap cheap right now. If you believe in cannabis legalization and your research shows Canopy as a likely winner in the sector then don't sell under book, that's crazy.
Jmho /Dyodd
Q