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Based on the last minute selloff, it looks like another down day is anticipated for tomorrow.
Recently, it seems like this stock gaps up most days, then slips down and slowly eeks out a small gain by EOD. Volume seems to remain pretty solid. Is this just a sign of shaking out the shorts or more day traders? What does anyone think?
Everyone likes to park their money somewhere safe over the weekend. Great to see where the smart money is going today. Go Tweed!
What's to correct? Investment is on track with rec still to come in a few months. Looking forward to it.
What you are missing is that Constellation's investment brings a lot more to the party than does ours. It's a good thing.
You just gotta love that the Constellation deal is being done at the market price instead of some discounted bought deal. It says that Tweed is worth more, not less.
I hope we never see buybacks or dividends for that matter. It would only mean that management sees no better way to creatively deploy capital through operations and that the company is resorting to low quality earnings tricks to satisfy investors.
So all things equal, Constellation winds up with a 19.8% share in 2019. Not a bad deal for them or us. I used to own Constellation shares and doubled my money on Corona/InBev divestiture. It’s a good company. Interesting that the press release doesn’t mention board seats, I’d expect them to go along with a deal this size. Hope to see big gains today!
When I think about what it was like to own this stock somewhere in the sub $3 range and watch big losses for months on end, it’s almost comical to see folks wringing their hands about daily ups and downs now.
I found spare change in my trading account and bought 70 shares this morning to round out my holdings. First purchase since June of last year. I’m averaging about $2.36 US now...
Good point. Institutional buying may be starting now and thus the higher volume. Many of them won’t touch anything under US $10. We are passing that now, probably for good.
Nice way to start the week! Seems like it is no longer just news that is generating investor interest, maybe we're reaching some sort of critical mass, getting ready to go viral!
Most in Europe can just pop on into Amsterdam and already do. Canada should see a lot of tourism from the U.S. Denver and Portland are nice to visit, but the lack of Federal approval puts a damper on things, especially at the airports. Maybe there should be a extra "n" in Canada. I can see a great tourism campaign broadcast in the U.S. "Visit Can[n]ada!"
Volume going through the roof! Jack and the Tweed stalk! Hang on!
Paying dividends or repurchasing shares are generally an indicator that management doesn't see any better opportunities to creatively redeploy cash. It will hopefully be quite a while before Tweed finds itself in that kind of low-growth position. We are investing in the grow.
Good point! I guess ADRs are "alt-stocks;" Just like the NYT and WaPo are "alt-news." Such is life in today's U.S. Tweed trumps hate.
Yep, and M..user needs to get over it before he starts sounding even more like AwesomeBob. I'm holding TWJMF and will vote too –all for management's slate; I've about tripled my money; if I thought I knew more about the business than they do, I'd sell. For what's it's worth, I don't get why some struggle with the concept of an ADR. I used to own some Daimler stock (Mercedes-Benz). a German company with a US ADR ticker, you may have heard of them -same deal, it's really just about executing trades in foreign currency; not everyone is set up to do that from their own account.
Given that you've got those numbers to work with, it sounds pretty specific to me. If their "best guess" is a lower guess, that's conservative accounting. What else would you want? Maybe there is no specific impairment charge; at least they aren't prone to overstatement. My point is that the rules around accounting for biological assets seem to provide a lot of latitude, probably because they are based on commodity crops like corn and wheat. The cannabis market is a lot more speculative and thus less predictable.
My take on the earnings is that the accounting rules around biological assets have turned out to be both a blessing and a curse. Up until now, the accounting rules on biological assets may have led to higher statements of revenue and really jacked up earnings. This time, the sun grown mark-down reduced things dramatically. I'm speculating, but wouldn't be surprised if someone validated this though a deep reading of footnotes in the MD&A. The good news is that it sounds like CGC is being very honest by taking the write-down now instead of waiting for it to be covered up by growth once rec comes. Other than that, I get that the investment in capacity is a cash burner, but don't really see why it should be a big drain on earnings since a lot it should be capital investment as opposed operating expense. Maybe I just don' know enough about Canadian accounting...
I'm perplexed by it too. It's interesting how hard it is to be patient after one has already seen a large gain. I'm in TWJMF at an average cost of $2.26 USD. Back when it was trading at 40% less than that price, it was easy to be patient –sometimes for months on end waiting to get back to a positive gain. Now that I'm way up, I can't understand why it doesn't keep climbing. This says something about investor psychology, but I'm not sure what. Maybe it's easier to justify holding onto losses with hope for a turnaround proving one correct, than it is to sit on a gain that seems to be holding steady instead of continuing to go upt.
Whatever happened to MMPRuser? No posts in two weeks. Are you still out there? Gone into the wild? Staying long CGC?
Think about it. How would an exchange-traded fund (ETF) be able to offer an investment that would track with the S&P unless the fund was invested in the underlying stocks that make up the S&P? The will have to buy CGC.
Dude! I've had you thinking for the whole day. Time to back off on the oil in your coffee. It's secular as opposed to cyclical, not spiritual. Economics, not religion. Really though, I do think the index funds will be required to buy next week, giving a one time lift to share price.
Interesting to look at the major indexes at EOD yesterday. TWJMF tracks their sell off. I suppose the uplist, etc. brings CGC more into line with market movements. What I'm hoping is that major Canadian funds will be required to add CGC shares to their portfolio to balance with the S&P:TSX on Monday. This should cause a secular shift upward in the demand curve.
After the past few days, watching the trades ticking by this morning is making me feel better. I especially like it when the sellers are getting a penny or two less than what buyers are willing to pay. Go Tweed!
Interesting to watch the order flow at the end of the day. I expected to see more sells, betting on a drop tomorrow after financials come out. Instead I saw lots of support at 12.90 and a buying spree in the last two minutes getting back to 13.00. Maybe shorts needing to cover. It will be interesting to see what tomorrow brings!
Lack of higher volume today kinda says that the good news was already baked (pun intended) in. Still, nice bump in price due to slight reduction in uncertainty.
If marketing restrictions on tobacco, booze and even state lotteries are examples, there isn't much to worry about. In the U.S. these laws are riddled with exemptions. Much like Swiss cheese has holes. Lawmakers visibly pay heed to the public perception, but privately cow-tow to business lobbying interests in the fine print of legislation. Snoop will no doubt be a public safety educational ambassador of some sort. Go CGC!
Ditto. The ADR (TWJMF) works just like being a regular shareholder.
Many have suggested that CGC is the next Google. What I like about CGC is that it doesn't just depend upon creating an audience for cheap digital advertising, or unlike Amazon It doesn't just facililitate the sale of other people's stuff. CGC actually has its own product. It is a producer of its own real stuff. Call me an old-fashioned operator, but this welcome return to a real model of economic production is much needed in today's 140-character Twitterverse. Thank you CGC for being a real business!
Interesting to see so many orders fill at the end of the day and finish at the high of the day. May portend good news tomorrow. All good.
Well maybe. Keep in mind that Colorado has many of out of state shoppers. Your assumptions would require a similar percentage of folks coming to Canada from the U.S. and other destinations to pump up the Canadian market.
Actually, I'm really hoping that Clooney will run for US President AND be a Tweed smokesperson!
Nice gain for the day on relatively low volume. Great way to start the week!
I'm unfamiliar with the Canadian rules. Would a bought deal be any less likely now that they've upgraded to the TSX? Again I don't entirely understand, but bought deals kind of seem like private equity placements by a public companies since only certain buyers get to participate. As an investor, I'm not exactly crazy about that concept. It seems like something that larger exchange players would shy away from. Why deeply discount your shares when there's a large enough float on the open market to just issue more publicly?
Totally agree. What we should be and are seeing is the creative redeployment of cash flow. Dividends, share repurchases and the like would simply signal that management sees no operating opportunities. If that were the case, it would be time to exit. This is a capital gains play that is performing exactly the way it should. No one else in this sector comes close, except perhaps a few private equity placements that we don't know much about. For public investors, CGC is leading the way!
I agree. Just think how different the U.S And the world would be if Richard Nixon had realized that legal MJ would have done more to keep him in power than criminalization. JT can really make this work if he follows through quickly. CGC will ultimately be the Canadian Growth Corporation.
The TSX uplist is doing just as predicted on trading volume. It's great to see larger transactions being executed. I suspect that market awareness is still building and we will continue to see trading volume increase over the next few days and weeks or more.
What up w/ TWMJF? Over 100K shares traded today with no change on CGC price. I don't think I've seen this much volume with no news. A below average day on CGC shares.
Whew! CGC hasn't seen a million share day since last April. They seem to come in clusters with shorts buying and selling and longs accumulating. Wonder what the next two days will bring?