Canopy Growth Corp (WEED)

[Edgenation]

Touched $9.48 pre-market on U.S side with tons of volume. There is a whole new group of investors coming in today with many investors adding to their positions before the bigger gains come in.

[Monksdream]

Over $9 this morning

[3jack]

RIP

[BottomBounce]

$CGC Total Debt (mrq) $693.27M


$WEED

[borysek]

what goes up without a reason , must go down , and it will happen sooner than some people think ...... do you know what to do now ?

[awesomesound]

Canada’s unpaid cannabis taxes soar 72% to almost CA$300 million

How can someone that is betting their savings on a Company that cant even pay their Bills???

A growing number of Canadian cannabis producers continue to rack up tax debt, which could lead to “a meaningful number” of companies going out of business if they’re unable to make those payments, according to the latest tax data and industry analysts.

Federally licensed cannabis producers owed the Canada Revenue Agency (CRA) 273.4 million Canadian dollars ($202 million) as of Dec. 29, 2023, marking a 72% increase compared to the figure from about one year earlier, MJBizDaily has learned.

The number of delinquent companies has grown sharply in recent years.

Roughly 259 licensees were behind on their tax commitments as of Dec. 29, the CRA told MJBizDaily.

The tax levies could be for excise duty, Canada’s Harmonized Sales Tax, payroll tax or corporate income tax.

According to CRA data, cannabis businesses behind on their tax commitments in other years were:

12 in March 2019.
33 as of March 2020.
68 in March 2021.
141 companies in March 2022.
213 as of March 2023.
The snowballing situation might have been what prompted the CRA to embark on an unprecedented crackdown.

Last week, citing provincial and industry sources, MJBizDaily reported that the CRA had ordered at least three government-owned wholesalers to garnish payments from licensed producers that were delinquent on their tax commitments.

The three wholesalers – in British Columbia, Ontario and Quebec – account for almost three-quarters of all legal cannabis sales in Canada.

The CRA wouldn’t confirm those garnishment orders, saying the disclosure of such information could compromise confidentiality provisions of Canada’s taxation laws.

The tax-collection agency also declined to say how many companies were affected.

Beena Goldenberg, CEO of Toronto-headquartered cannabis operator Organigram Holdings, said the excise tax rate needs to be lower.

But she also said the industry needs a level playing field to continue to mature.

“We all want players in this industry to succeed, and a level playing field is critical to the development of a successful and sustainable industry in the long term,” she said in an interview with MJBizDaily.

https://mjbizdaily.com/canada-unpaid-cannabis-taxes-soar-to-almost-ca300-million/

[Monksdream]

CGC No 5 on the Barchart 100
https://www.barchart.com/stocks/performance/percent-change/advances?orderBy=percentChange&orderDir=desc

[awesomesound]

In their effort to legalize and regulate hemp-derived CBD, the Farm Bill authors stipulated that any cannabinoid derived from hemp – defined as cannabis containing less than 0.3% delta-9 THC – was a legal product.

But the delta-9 specification left other cannabinoids outside the realm of regulation.

The Farm Bill also created a “massive gray market worth an estimated $28 billion” that’s delivering “cannabis-equivalent products into our economies regardless of states’ intentions to legalize cannabis use, and dangerously undermining regulations and consumer protections in states where adult-use legal cannabis programs are already in place,” the attorneys general wrote.

The cannabis industry was hopeful Congress would fix that loophole when the 2018 Farm Bill expired in 2023.

But owing, in part, to a leadership struggle and, more recently, a tussle over the federal budget, Congress has yet to release a draft of a new Farm Bill.

In fact, last November, Congress extended the 2018 Farm Bill until September 2024.

The letter noted that, “regardless of your Committees’ intentions, the reality is that this law has unleashed on our states a flood of products that are nothing less than a more potent form of cannabis, often in candy form that is made attractive to youth and children – with staggering levels of potency, no regulation, no oversight, and a limited capability for our offices to rein them in.”

Does any of this sound Like US Cannabis Money???

https://mjbizdaily.com/intoxicating-hemp-derived-cannabinoids-must-be-halted-state-ags-tell-congress/

[borysek]

nice hype .... for how long ?

[TheFinalCD]

$WEED $CGC shorts getting pushed to cover

https://www.prnewswire.com/news-releases/canopy-growth-celebrates-passage-of-cannabis-legalization-in-germany-302097138.html

[TradeSmart.ai]

Weeeeeeee blasting off like I knew she would!!! $CGC

[Scout72]

VFF

[TheFinalCD]

$CGC

$YCBD $IMCC $CGC $ACB
🪴 pic.twitter.com/EdiZSO6OkA

— THE FINAL COUNTDOWN (@READY_2_PROFIT) March 22, 2024

[borysek]

nice hype for a few days .... big players make money , idiots buy ........... soon back to normal to ... about $4

[TradeSmart.ai]

$CGC And here we goooooooo!!! Give me $7+ tomorrow please and thank you!!!

[Monksdream]

Early Barchart 100
https://www.barchart.com/stocks/performance/percent-change/advances?orderBy=percentChange&orderDir=desc

[mick]

it like the bunny, on & on

[Monksdream]

I bought 100 shares of NVDA at $300 a share way back when
Live with it

[mick]

we talk about dilution, and ????? today's news ?????

[borysek]

dead cat ... it stinks ,

[cardvic]

ACB and WEED getting shorted to death.

[Monksdream]

CGC new 52 week low

[borysek]

funeral under way .....

[Monksdream]

CGC new 52 week low

[Monksdream]

CGC new 52 weed low

[Bazwar6]

For a good laugh read this

https://www.cnbc.com/2020/06/16/canopy-growth-ceo-expects-weed-will-be-legalized-federally-by-2022.html?__source=twitter&sf124262565=1&fbclid=IwAR2nxiwsRnJ48xEb5GH7UG_F8AgZ8eyXFGERsT1mOttb-7dp27gmfgtMXnw

[borysek]

Canopy Growth Corp is holding an average recommendation of "Moderate Sell" from 10.00 analysts according to Zacks. From those 10 analysts, 1 have buy ratings, 5 have sell ratings and 4 analysts gave hold ratings.
==================================================

hmm ...........

[borysek]

CGC was establish in 2013 , since that date CGC never made a profit .... they have no clue how to make a profit because from the beginning set-up was so wrong ...

[Bazwar6]

https://thedalesreport.com/cannabis/additional-analysis-on-canopy-growths-q3-2024-earnings/

[Bazwar6]

[borysek]

it was 44.7c .... now , after consolidation 1:10 is $ 4.47 ...

[cardvic]

what is the 52 week low? now that it has r/s?

[borysek]

are we going to see 52 week low ? .... great chance by the end of the week ..

[Bazwar6]

https://finance.yahoo.com/video/canopy-growth-ceo-talks-cannabis-161258596.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEc5sFZwE0Vy1qd-biI__9dgHdesBwIixucngKFWO7rRvbL5T6DFLEwBZFbXwuEQfp02Inc0HsCa0mTkKm4SXG3et0KELXG3yrubHDX9NdVTqflcJqtNCgLgjNzYG0fBXKJJh7DN0ggo1e1jOwsD-chH_FzvogfkYzd8wm1v-RDS

[borysek]

bla bla bla bla ...... are you going to make a profit ? ...

[Bazwar6]

[borysek]

loss of $60M is bad sign ..... again !

[borysek]

very interesting ... I watch what happens between 3 pm- 4 pm ...

[borysek]

one day left to make a decision .... you can lose for good a big chunk of your shares if report is bad ....

[awesomesound]

Predatory Naked Shorters are involved in $CGC's private placement announced yesterday.

BIG RED FLAG: Predatory Naked Shorters are involved in $CGC's private placement announced yesterday: BPY Ltd, Nomis Bay Ltd, and NewGen. They are all connected to Murchinson Ltd owned by Marc Bisticer and his partner Paul Zogala.

The SEC has previously charged Murchinson with violation of short-selling rules:

"uncovered short selling and other illegal trading practices" ... "This was repeated for hundreds of sale orders between June 2016 and October 2017" ... "the firm provided erroneous order marking information on orders of a hedge fund client, marking trades as “long” that should have been marked as short sales, thereby violating Regulation SHO"

Why the fuck is $CGC still doing deals with known naked shorters, allowing them to cover shorts into Private Placements at a discount to the market (risk-free short) and get a free warrant for each PP share?

In 2023, the OSC made serious accusations against them.

Key quotes from the OSC naked shorting accusations:

“accountable for an illegal and abusive short selling scheme that violated Ontario securities law in connection with a private placement by a public company – Canopy Growth Corporation”

“Bistricer created and carried out an illegal and abusive short-selling scheme”

“put up no money of its own. It simply sold Canopy shares it did not own and used the proceeds to pay for the private placement shares”
“For Bistricer’s private holding company, profit was over $1.27 million” in just a few days.”

“The series of transactions ultimately resulted in retail investors purchasing the Canopy shares that were sold short by Saline. The cash the public paid for those shares flowed through Saline to Canopy, as Canopy’s offering proceeds. This was a public offering of Canopy shares. This type of illegal distribution is sometimes called “backdoor underwriting”.
“Saline’s short sales were motivated by the opportunity for virtually risk-free profits”

$CGC management was complicit. In 2017, Canopy's Director lent shares to short sellers and arranged a private placement for them to cover.

"On March 17, Saline (owned by Bistricer) entered a private placement subscription agreement with Canopy and a securities lending agreement with Goldman Holdings Ltd. (GHL), a private company that Murray Goldman, a Canopy director, used to hold his shares. In anticipation of these transactions, Saline sold short 2.5 million Canopy shares in the open market for approximately $26.76 million."

According to $CGC prospectus from Sept 2023, entities controlled by Murchison owned 6% of Common Shares with warrants to double the position and an over-allotment option. They were also involved in $ACRG. They've been naked shorting for years. Now they're back for more with yesterday's $35M private placement.

What. The. Fuck. Is going on here?

🚨 BIG RED FLAG: Predatory Naked Shorters are involved in $CGC's private placement announced yesterday: BPY Ltd, Nomis Bay Ltd, and NewGen. They are all connected to Murchinson Ltd owned by Marc Bisticer and his partner Paul Zogala.

The SEC has previously charged Murchinson with… pic.twitter.com/mHnCv2Ubgm

— WeedStreet420 (@WeedStreet420) January 20, 2024

[borysek]

" what should I do if I own a lot of shares of Canopy " .... hmm , I do not see ANY signs that a situation is getting better for Canopy , if I was in your shoes -
maybe the right choice would be to sell before February 9 and wait ...

[borysek]

after consolidation 1:10 we do not see too often that the price`s change up and down by 10 % .... it means less players who know what to do .... and only idiots wait for better time :))))

[borysek]

some people say that Constellation wants to buy Canopy for nothing .... so tell me what is the point to spend $ for something of extremely poor quality.

[borysek]

I did not use " IF " ............. I used " if "

[Bazwar6]

Nope

[Bazwar6]

I think this is the first time I've seen you use the word "IF "their earnings are below expectations

[borysek]

if report earnings on 02/09/2024 is below expectation .... the price will drop in a dramatic way ...

[borysek]

substantial down tomorrow ? .... great chance ,

[borysek]

"CGC Earnings Date
Canopy Growth Corporation Common Shares is expected* to report earnings on 02/09/2024 after market close. The report will be for the fiscal Quarter ending Dec 2023. According to Zacks Investment Research, based on 3 analysts' forecasts, the consensus EPS forecast for the quarter is $-0.45. "
============================================================================================================================
forecast loss of $27M ? .... I do not agree , will be much more ,

[borysek]

every day we see a beautiful manipulation ..... you can make a lot of money if you understand a game ,