Canopy Growth Corp (WEED)

[DrGreenthumb]

Markets are tough to explain, but i would attribute it to a number of factors. a lot of it has to do with the 0.89 valuation that was lobbed around for weeks before the IPO, so an opener of 4.60 took traders by surprise.

After the pre-market bids were filled, a drop ensued, and since there was such a discrepancy between what people thought the opening price would be, and what it actually was, when the knife started falling, nobody wanted to catch it cause there was no reference for fair price. It may well have been the insider buying that stopped the falling knife.

You add to this that Americans did not have access until monday, and the story about seized product, you can start to make sense of the opening day. Just my 2 cents.