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"My canopy holdings are worth more at close today than close last Friday. That is a green week"
Of course it's a green week.
Stock closed at $26.50 last Friday and $27.89 today
Case closed
"Task Force took alot of their recommendations from Uruguay, and their legalization is only for their residence, NO Tourism"
You raise a very good point. But what about Canadians living abroad. No provincial ID i.e. DL but they do possess a valid Canadian Passport
"WEED often finds its intraday high or low again before close. "
The whole market tanked at the end of day today. The 3 major indices fell 2% in the last 2 hours, from 2pm to 4pm. Most of my positions followed suit. What looked like a promising day all around turned into red ink in most of my positions, including WEED
Sell on spikes, buy on dips - classic traders approach. I don't mean to over simplify, but the variable is each trader's opinion as to - how hi is hi, and when is the time to get back in? When has this thing 'bottomed out'
Everyone has a different opinion (emotion) so that's what causes the rise and fall of the stock price. That plus news, good or bad.
I guess since a beer company (Corona) bought in, we shouldn’t expect a Pharma to come anywhere near cannabis. It would lend credibility to a potential drug industry major disruptor
I think this author needs to be “tarred and feathered”
$28.31 +$1.81 (6.83%) at 11:00am
A disappointment if you ask me. Was expecting, (not hoping, expecting) a major pop as a result of a halt. Didn't happen, because the news IMO was not halt-worthy. Was looking for 10% pop
As a side note - option premiums have really eroded.
i.e.: Mar16 $34 - it's down from 60cts to 40cts even with a share gain of 7%
I feel like I’m back in the 70s, and the place is run by stoners. The press release references the air transport of the seedlings as “flying high”
No one took me up on my offer to discuss options. But let me add to it. I find it very intriguing that a halt came at the end of a month option expiry date. That just adds to my thinking, big positive news
They didn’t halt trading for a “meh” event.
Options - anybody done them?
Just to get off the halt for a minute does anyone have experience with WEED options ?
I'll tell you mine. For about 18 months I had been accumulating on dips and was up to e nice number of shares, my ave cost being about $9 I had doubled my investment when the stock got into the hi teens. The stock was chugging along for awhile and I was getting impatient for more growth, so on a spurt in the low $20's and options were first offered late last year, I sold covered calls for Dec $24 got $2.20, That's almost 10% for 1 month. I pocketed the premium when the expiration passed, and I kept my shares.
I figured I'd do this every month. I did it again for January, but as you know the stock rocketed past my strike price and I 'lost opportunity' My shares were called away at a price below the market of the day.
Not to be outdone, I bought back the stock and sold more calls, and of course the stock went down. Those options expired this past Friday, and I was set to sell another batch this Tuesday, but then the halt came. I still expect to sell options, after the dust settles but I expect the stock to be up several $'s
Anyone else had experience sith WEED options, or have opinions ?
I find it noteworthy that the halt was not enacted during trading, but after market close. That means no leaks (of news) were perceived. What it signals is - a noteworthy needs to be made and the company is telling the market 'with this halt and now that I have your attention, pay attention to news, before the market opens on Tuesday' . . . because we believe it will impact your decision to buy, sell or hold
As simple as that.
"it hard to believe that positive news are the reason to halt trading?...but???? "
I don't know why you'd think that. It's been my experience (trading stocks for decades) that halts are usually the harbinger of not good news, but great news. Take over bids, etc - although I not suggesting that, just the easiest example to come up with
Now this press release is worth speculating over. Dated today. Would not surprise me that a large Pharma company makes an outstanding offer for canopy. Which is what caused the trading halt we could all be millionaires come Tuesday
Do you honestly believe a press release dated October 2017, Announcing 1.3M ft.² of growth is the reason for a halt today?
Need an update
Guys, I haven't been following this board or any news of WEED or the industry for several months now. And I don't get a lot of cannibis news here in TX, unless I go looking for it, and I haven't had the time.
I'd very much appreciate an update from posters on this board because I found it (in the past) to be by far the most informative source for WEED and the industry.
For example :
- what is the latest on legalization of rec weed? its there a projected date?
- has the supply chain been formalized, mail, shops, etc
- what caused the lengthy share price dip thru the 2nd quarter?
- how are financials holding up, EPS, revenue
- new markets, Europe, Australia: how are they doing?
Thanks all - the best board on the planet.
"Weeee weeee weeeeee "
jonsmile - I see you're still peeing your pants. LOL !
Graspy - good post
Thanks,
Has the distribution chain been worked out?
Mail order? and then provincial sales points - like LCBO?
And how do they invoke the age limit with mail order?
Supply a pdf of your driver's license, that WEED keeps on file ?
What's new? Serious question
I haven't been on this board, nor read much news over the last 60 days (since $12 roughly) but have obviously watched the price melt.
Can someone summarize reasons, both real and supposed - for me. I'd appreciate it.
It is just profit taking?
Did quarterly results miss?
Problems with gov't process?
How's the international business going (Australia, Germany), did it flounder?
i live in TX and don't get much exposure to CDN news
Thanks, All
Typical analyst
I think that's spelled . . . anal-ist
Your original book value will very likely carry forward, and be reflective (and calculated on a per share basis) of your newly issued CGC (WEED) stock.
Before most mergers & acquisitions take place the acquiring company gets a ruling from the Federal Tax authorities. It's become "standard operating procedure"
You'll find the calculated "original cost" in your first broker statement with WEED - multiplied by the number of your CGC shares to be exactly what you paid for your MT in total.
No capital gains to be paid . . . yet
"LP's would not knowingly use banned product. The growers have lists of approved chemicals. Illegal dispensary whole different story.. "
Of course an LP would not knowingly use banned product. That's the whole foundation of a consequencial damages lawsuit.
The LP used the banned product, in good faith - because the product was NOT properly labeled.
This is the opposite of "caveat emptor" - buyer beware. The buyer does not have to beware, he is relying on the list of ingredients to be full and accurate.
The supplier is on the hook for "messing up". That Texan for phucking up
Mislabeled ?
. . . and a dangerous chemical ?
Sounds like grounds for a lawsuit to me
. . . since a total crop was wasted
Can you say - "consequential damages"
"If go on YouTube they explain how it happened. No one like laziness"
Could you kindly provide the link, please
Thanks Wo,
That letter does a lot to explain the reason for the recall, and does a decent job.
What more? I would've liked to hear something about "how" it happened, why did it slip through the QC process, was the forbidden chemical, not currently on the MT QC list to be tested for?
I'm an old manufacturing guy and what I suggested is Sigma Six methodology.
But as you suggest the letter to the customer and detail was more than I previously thought issued. And the future discount was a nice touch.
"Just to clarify,CGC does not own MT yet, so why are they responsible in your mind? "
Not suggesting they're responsible for a second.
Just suggesting it's good business practice to address the issue (whether acquired or otherwise) head-on, and do exactly as I proposed. What, when, why, how, and remedy installed to prevent future occurrences.
Full disclosure is always welcome and a "get -well" plan to address is not just a good idea - really mandatory to assuage current and potential future customers.
And further . . . while CGC isn't "responsible" for the occurrence, you better believe, prior to finalizing the acquisition BL and CGC team did exactly as I suggested.
Determined, what happened, how, why, etc
And ensured corrective action was quickly in place.
Otherwise he would not have done the deal.
And since he knows all, should outline it to his current and potential customer base, All would feel better
"I thought the same about WEED. Not suit enough. At least the company is not named weed, just synonymous with it :) "
I got to thinking about he international expansion plans in Europe, Australia, S.America etc, and thought
How bad wil in look when the announcement headline reads.
"Weed announced an agreement to supply German market"
But then I realized the company name isn't changing only the symbol. And that doesn't make it into the press release.
"Wonder if an illegal dispensary would send that letter out? Furthermore they have no way of contacting them. "
. . . or even knowing that their schit was bad
"Canopy Growth Addresses Mettrum Recall Issue
January 3, 2017 at 1:04 pm "
This is exactly what awesome's point is.
This long winded "response" says absolutely nothing.
It does extoll the virtues of the QC process as working; which we all appreciate. Then proceeds to whitewash the recall, because it was "only" graded Type 3.
If no real danger to patients then why recall product. I know the answer is to show good faith, take a small loss, save face, and move on.
But was was suggested "where is the outrage?" and why is there no explanation as to specifically what happened, how it happened, and what was done to insure it doesn't happen again?
"What I find strange and suspect after all the recalls, not one letter of explanation to the shareholders, not one letter of apology to consumers, and not even a explanation to the press when questioned, Just a shrug and "I don't know how it got their. Not one word from CGC MT's owner BL"
That is an excellent observation awesome and your best post to date.
It does
a) make one wonder
b) raise other questions about full disclosure, openness, etc
In fact - where's the public, patient and shareholder outrage ?
We did see a twitter from a female patient loudly threaten lawsuit, but we've heard nothing further. At least I haven't seen anything, but I don't get a lot of Canadian news here in TX, unless youse guys post it.
New Ticker Symbol starting Feb. 1st
WEED is new symbol
Honestly didn't expect this to happen,
Frankly (to me) cheapens the image, but I guess that's just the conservative grumpy old man in me.
BTW: don't let Linton try to tell you that they're a medical firm first. This is clearly targeted to the rec user.
(insert winking smiley here)
awesome
We all share the concern of lack of product availability and recalls.
But
a) availability is a high grade problem, with an end in sight
b) recalls are a function of a well run QC process and will reduce to near zero through the industry buildout and process shake-out
Dispensaries as an alternative while a short term stop-gap solution is not viable long term simply because they are illegal, and one can assume when the recreational use law (and accompanying process) is put into place, they will be systematically be shut down.
MMPRuser
That'a a very gracious comment
If I hear "the Q is coming" one more time - I'm gonna puke
LOL !
What a plaintive cry of the lost soul
"Actually buyer is back today and it looks great im shocked with this delay we are up and not getting crushed"
.007 isn't being crushed ?
"whats the point of investing when you are 65? "
36 huh ?
Have kids ?
Do you expect to live well on a Canadian or American pension
Do you want to keep your mind active.
Do you want to learn more about cannabis.
If you answered yes to any of the above then you know why we invest
I'm a 65 yr old CDN born, living in Dallas for 20 yrs.
Starting to wonder if I should pack up and head back.
And down the road, there's likely to be big reason to do so beyond politics, but it's a subset of politics.
Both my Mom & Dad passed with cancer a few years back. And had wonderful (traditional) treatment in Canada. I cannot say enough about the CDN medical system. Anyone that speaks of lines, death panels is simply ill informed.
So . . . when I am finally diagnosed with cancer, I want immediate access to cannabis. Hell, I should be accessing it now for preventive reasons, I'm sure.
And Texass is one of the states that hasn't legalized it, and I don't see it happening in my lifetime. I guess if I decide to stay, I'll be making regular runs to Colorado to get my cannabis.
Real sad situation here both from a far right wing nut perspective and the blind eye to cannabis as a cure, not just a pain relieve.
I have learned so much on this board in the last month - it will truly be a life saver (or prolonger) in my case.
I can't see courts not approving it.
The industry is in it's infancy and there are and will be many new entrants. There is very little barriers to entry.
Court disprovals are reserved for the likes of Telus merging with BCE.
But you still have to wait the requisite amount of time and let them have their say.
Quote:
"i just hope Trump actually gets rid of all the illegals in the usa, the laws of the land were made by the representative of the people of the USA - I would like to see an administration actually respect the wishes of US citizens when it comes to immigration"
Response:
Unless you're a Native American everyone of the voters in the Excited States is an immigrant or a descendant thereof. I find the actions of the new administration deplorable.
Quote:
"the average american worker doesn't want illegal immigrants in the labor pool - for the right money I would do anything, clean toilets, clean cow manure, anything"
Two points:
There are many jobs in the US that go unfilled because nobody wants them; there are no qualified workers, (maybe the displaced workers who lost their jobs should retrain, at govt expense, eh) or they're too low paying. Deport the illegals and you have a bigger problem, more empty jobs, that no American wants.
You address the issue yourself MMPRuser when you say "for the right money you would do anything". Well guess what the jobs illegals do are NOT for the right money.
If and when illegals are deported - no one will do the grunt work.
If and when import taxes happen, that car, those boxer shorts, many, many goods will go up in price, and inflation will be rampant.
Is that what you and voter dumb Americans really want ?