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Well, let’s see, nine and a quarter years for Amazon, five years for Facebook. If you really don’t like CGC go find another place to invest that makes you less angry.
Good question. I wonder if it has to do with accounting rules, although the restatements should have taken care of that. I'm glad to see them conforming to GAAP. Under Bruce, there was always some Canadian hocus-pocus about accounting for the value of biological assets which I didn't understand and seemed to inflate revenue. I'm very glad to see GAAP come into play. It makes them much more of a legitimate global player. Thank you Constellation.
If anyone didn't expect it, they are a real newbie. Its the same pattern we've seen with every earnings report. 1) institutional run-up during the week before the announcement, 2) euphoria among retail investors, 3) institutional stop-loss sale the day of the release, 4) retail investor panic and sell-off, and 5) institutional buy back at a lower price. While I agree that this earnings report was a disappointment, it doesn't really change the market dynamics. Institutional players using their clout to make money at the expense of retail investors. As a retail long, real long, I can't complain too much; I'm still up 482%.. Patience grasshopper! As for Borys, while he claims to not kick a man who's down, he definitely likes to walk on their backs to get his supposed gains. Not my style. I'd rather be long than short.
Short, that's like small, right? CGC IS BIG!
Anyone have thoughts on next week’s earnings report? The shorts are always banging the earnings drum to drive CGC down and those of us who’ve been following all along have seen a consistent pattern of institutional run-up in the week before earnings and then dumping on retail investors the day before or after. For some reason, I think it could be different this time. I dunno why, maybe new management, maybe better retail storefront sell through. We will see soon enough.
Thanks. I’m just a bit fed up sometimes with penny stock investors who think they can use this board to move sentiment. The audience here in very small compared to the universe of stockholders, many institutional, who pay attention to real data from many sources. I really struggle with the ethics of those who pump or dump, but the false negativity of the dumpers is really easy to see through. I don’t like sharing the oxygen of this space with them. BTW, for the mods, what I’m discussing here is specifically about CGC and those who choose to invest in the company.
Since your last sentence ended in a question mark, here's my answer. Yes, it is a good sign that two top execs have departed the company. After being negative on CGC all along, you should be delighted at a change in management. If you don't think the status quo is the way forward, you've got to appreciate that changes are being made. Earnings? If you want a dividend company, invest in a public utility. The best way to think of CGC in that analogy is what if electricity was only available through the black market? A legal startup in the utility sector would take losses until people realized that they could get electricity legally. Everybody uses it. CGC gets you in on the ground floor of an untapped legal market. Don't think that means immediate earnings. Anything worth the effort takes time.
There's no reason for them to sell it right away. They have obviously bought into this opportunity and control the company. They would not have made that investment if they didn't buy into the opportunity as operators, not just day traders.
Interesting. I have no doubt that these will be exercised tomorrow. What do you think the impact will be?
Yes, except I suppose there could also be non-cash gains. That’s why the definition is “non-cash charges” which are usually losses, but could technically also include non-cash gains. This distinction is perhaps more meaningful with European mark-to-market conventions, rather than traditional US GAAP, which uses book value or market value, whichever is lower. Not sure how this is done in Canada.
Full disclosure, I am not an accountant but I’ve been reading financials for many years.
Yes, impairment of an asset is a non-cash charge just like depreciation and amortization are non-cash charges. The good news is that it decreases tax liability, which is cash.
EBITDA as an acronym hits on the main points of earnings before interest, taxes, depreciation and amortization. Not in the acronym, but included at the end of that definition is, “and other non-cash charges.” The write down should be a non-cash charge, thus EBITDA will be a meaningful number, unlike EPS or net income.
My understanding of an impairment charge is that it is non-cash, just a write down of balance sheet values. It still hits eps, and I have no doubt that some here will make it sound as if the results are terrible, but it’s actually a good thing, marking assets to their true value and increasing return on equity going forward.
Your “last chance” boat sailed months ago. Remind me again, maybe for the first time, why are you here? You have no insight on CGC.
Those charges will be mostly non-cash charges, except for severance, etc. All the naysayers have been wanting lower expenses anyway. This ought to be seen as a big plus.
If Amazon, Facebook, Google, Apple and other had relied upon early profits, they would not exist. Instead, they've become the largest companies in the world.
Thank you. Great summary of the LONG facts, replacing the overbearing SHORT opinions.
Good question. Keep calling this guy out for fake news.
Yes, I tried to post on that and got deleted. Shorts have taken control of this board. Their agenda is quite obvious.
Ask yourself why? Could it be there are so many baby boomers and boomlets that everyone now sees CGC, et al, as a final/new chance to be “Young, and Wild, and Free?”
Is today's CGC action what's called a "short squeeze?"
So with 2019 almost in the rear-view, I'm sure there are more than a few of us here missing the "Old days." Remember when Awesome was the nemesis and MMPR was spouting sci-fi fantasies? Now, we have Boyserk and Nowwhat; overall a much more silent board. I remember being down 40% when the share price was approaching $1, so all isn't lost. John1311's still out there and a few others are still in. Good CGC things will still come to those who wait. Patience Grasshoppers! Happy New Year to all and cheers to a BIG 2020 FOR CGC!
You are so f#*<ing smart and have no agenda.
I don't think there has been an earnings release yet that wasn't accompanied by a pump and dump the day before... Such a familiar pattern, I don't think it means much.
No one who actually understands financial statements would be bothered. What is more bothersome is when a company keeps values on its statements that aren't supported by the underlying assets. Change of leadership is the perfect time. None of the analysts are predicting gains yet anyway. So no, I would not be bothered.
Write-offs would be a good thing. Non-cash items that actually increase return on assets. Now is the time to aggressively take them with the change in leadership.
Dunno. I might sell and buy a house at some point.
This kinda reminds me of the days when I was 40% down and Tweed was approaching $1. This board said $17 was possible; seemed really inflated, but look were are now! Saying “Patience Grasshopper,” shows my age. But nonetheless, it is true...
Three clonks ought to qual a break thru, but you never seem to see it that way... What's wrong with that picture?
Wall St. seems to like it when something happens in their own backyard.
I'd like to think that Bruce's wife is already happy. I also don't think that his portfolio management adds up to much in the big scheme of things. All CEOs are advised to diversify and typically have scheduled sales to achieve that goal regardless of any news or operational changes. That's standard practice for insiders.
Pretty hard to understand why CGC keeps going sideways when all global indicators (and legislation) say the canna market is the real deal. Many who would never toke are happy to use CBD as a sleep aid. Recreational will displace much of the depressing booze market. This thing is taking off; it's time for the share price to follow.
Depends on your perspective. Many of us came in around $2. Where were you then?
This is perhaps the most stupid statement ever made on this board. Do you see Chinese fentanyl at Walmart? That kind of unregulated commercialization of the drug market is so far away as to be laughable in the relevant future for investors. Please, give us all a break from such stupidity.
I’m missing the days of BIG gains. Hope they will return soon!
Is there a US ADR for Rivers yet?
The cash will be deployed when the right opportunity come up -most likely for acquisitions. It’s not there to simply be returned to shareholders, they rightfully expect that is should be used to produce gains.
I don't know why anyone would be expecting a big upside earnings surprise. Probably no rec in the numbers yet, but all the cost of gearing up for rec is already there, as it has been for the past several quarters. It's been clear from management that this is not the time to manage for earnings. To do so would doom the industry's biggest player to become a small timer. No surprises is always better than unpredictability. Bruce has been pretty matter of fact about earnings expectations all along.
Thanks!