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The sector is looking ready for another run. I lean to more consolidation for WEED but it might get pulled up with rest.
THat's that part that excites me the most as well. These are folks holding for years, not days/weeks/months. This is very exciting.
BNN did report that there was 500m demand for the offering.
The wind is picking up on the BMO news and the over subscription/demand. This is wildly bullish for our sector.
Did you see the BNN discussion about this bought deal?
500mm demand for it. Filled in minutes. It happened because Canopy doesn't messa round in the U.S.
Thank you Bruce. Time and again you prove my initial thesis correct on Canopy.
Oh the games MM play. This morning was such a fake out.
I was confused if BMO involvement was a big deal but then realized this was a first in the industry. Now it's hitting the news wires - https://www.theglobeandmail.com/report-on-business/streetwise/bmo-first-major-bank-to-lead-medical-marijuana-equity-financing/article37652887/
BMO first major bank to lead marijuana equity financing
July 21 2017 - 25m private financing deal announced in morning @ 8.05 a share - Open price 8.19 / Close 8.27 - Trend continued up without dipping below.
3/22/17 - 24.5m private announced in morning @ 9.70 a share - Open 9.78 Close 9.72 - Downtrend from there hitting bottom in June at 6.58
That's all for 2017.
Has BMO been involved in one of these bought deals yet?
You know, if nothing else I cannot wait for the Senate to pass C-45 so that banks will finally start lending.
GAW DAMN CANOPY F ARE YOU BUYING NOW?
In all seriousness what in the world will they be spending this lot on? Eurozone?
Some of my friends in the investment circles say the same thing. lol
But you know I like to play it on the low end.
Not sure how long you have followed Canopy, I agree it went on a hell of a run but one has to place it into context.
1. STZ investment boosted the entire sector and in reality was a news event worthy of breaking any technical analysis expectations.
2. ETF demand drove the next leg up. This was the 2nd fastest growing ETF on record.
Both game changers for legitimacy of this budding industry (no pun intended)
If, and I emphasize IF, we get another game changer then I would believe forgoing another long consolidation period. Until then I am now 95% sure we find our consolidation between 32 and 34. We could retest 30 or the 21 day but settling in on 32 and 34 makes sense from a technical perspective.
I learned from some great investors that in the absence of game changing news (I.E. a black swan event) just follow the trend and stick to charting.
If such an event does occur, throw the charts out the window until it settles. Up or Down.
slow and steady is a great way to go.
Would you mind explaining your thesis on this?
I was calling for this during the start of our run up but then the ETF opening and driving us higher turned that into 32-34 for me.
I still see between 32 and 34 but hey I wont hate consolidation at 35 area lol. The volume is tapering off into this consolidation. Usually the lower volume during this period has us slowly drop in PPS.
My thesis remains steady. Close green on the weekly. We bounced off the support and now trending higher.
We bounced off support range. Price discovery is a son of a B after such extended blue sky break outs.
Big chunk of the selling came from U.S. side again. The MJX is indeed having a big influence.
We will see. I think 38s can happen. Regardless we close higher on weekly.
It's hard to be "stuck" when you purchased in the 2s. Geez.
There also arn't "many" gaps. They got filled intraday in most cases.
Premarket volume is anemic. I wouldn't put too much weight on it. That being said I don't doubt some pullback but overall I see us closing the week higher.
Man it's loving 42. When will it break out? DUNNO! =)
I'm impressed. Like seriously impressed by the price control at this consolidation. Still early in day but the volume is above avg and I see a triple bottom on the 5min. Nice.
I'm so happy for you man.
I think it will.
I get the 100x 300x arguments if this wasn't an entirely new global emerging sector. The last time this happened was .com boom.
The difference here is .com $ was entirely theoretical and it took a decade to realize those billions. We know there is real money that will come quickly here, only limited by production.
Also, a unique complexity here is that major banks will not invest here until Fed passes rec legislation - signed and sealed.
Will there be a massive bubble? Yes. 100% Are we there yet? No not IMO. ,/
Context: .COM bubble lasted nearly 5 years.
Amazon IPO at a market cap of $480+ Million at Revenues of $16M). Amazon IPO'd in 1997. It peaked at a little over 35 billion market cap. That was over 17 years ago when they only sold books, movies, and music. What kind of market cap do you think this can peak at? I have my suspicions.
Let's go, Christmas Rally today.
Hey does anyone have the list of the top LPs current and expected grow capacity? I'm looking around for what kind of market supply we can expect when rec goes live.
I don't think we will get it but heck, who knows. It looks good so far.
looking good and bounced off support again.
Good close if we keep it or higher in the next 2 min.
That range yes. Not because of the close though.
Gotta say I saw that bounce off the support line. I think today was a test. Uptrend appears will remain intact.
What is your outlook for the German market?
Thank you for your insight and opinions.
We won't really know the growth of the market until we resolve the court date. That being said, Canada is currently exporting and it seems to be generating several million CAD thus far total. Someone is buying.
The initial number ~1000 patients was prior to the loosening of the law. There is an expected growth of 5-10k more per year this and next year.
Germany may indeed be a slow start not unlike early 2k in Canada. The key difference appears to be that the insurance is covering the costs.
Ultimately many Canadian Cannabis CEOs and analysts see Germany is a big medicinal market. Time will tell.
I for one want the EuroZone foothold as the industry matures and expands in the region. Denmark is just the start but an early advantage that will pay off. Tweed Farms payoff seemed like a distant dream along with recreational 3 and half years ago when announced on June 19. Now the investment has paid off plus some. Tweed farms ensured Canopy's early mover advantage not unlike Denmark and Germany will in due time.
When I traveled to Germany this summer I met some folks to discuss the cannabis industry, everyone seems very bullish about the money that is to be made but they are even more bullish on the economic development it can bring.
50 and 200ma now moving up. Good news on a technical level.
The best part of the technical move is that there was a long consolidation period here. Should serve as strong support, "should". The only part at issue is the avg. volume.
That's a pretty large gap from the rest. Nice find!
One other thing I look at -
https://www.google.com/trends/explore#q=Tweed%20Marijuana%2C%20TWMJF%2C%20Tweed%20stock%2C%20TWD%20Stock&cmpt=q&tz=
Every now and then I need to go back and look at the last true emerging market that investors had an opportunity with.
*3*** COMPANY REPORTS **
*3* Dell Computer Corp (OTC)
Qtr to April 28 1988
Sales 46,924,000
Net inc 2,051,000
Share earns .11
Shares outst 19,277,839
yup =)
Yup, intraday broke support. Don't get me wrong guys PPS and company right now are two different things. Volume is everything. I'm not selling.
Just pointing out the bad with the good when it happens.
Fellow investors. Chart has broken support. Unless we get some news I fear we will make new lows.