AI
Wednesday, May 08, 2019 7:15:41 PM
Compensated Awareness Post View
Disclaimer
They highs have worn off in Cannabis.
Like all others within the sector CRON has hit a brick wall as investors have rung the register and moved onto more stable sectors. Commentators have referenced the Cannabis stocks as a bubble sector and looking at the charts it is difficult to argue. Cronos by no fault of its own, has reached a crazy valuation while still in the development stages. This earnings report may give a spike in revenue but also a spike in costs which may trigger more selling. On the positive side it could be suggested that the stock is already washed out after months of continual selling, the declining volume profile is a good gauge.
Like all others within the sector CRON has hit a brick wall as investors have rung the register and moved onto more stable sectors. Commentators have referenced the Cannabis stocks as a bubble sector and looking at the charts it is difficult to argue. Cronos by no fault of its own, has reached a crazy valuation while still in the development stages. This earnings report may give a spike in revenue but also a spike in costs which may trigger more selling. On the positive side it could be suggested that the stock is already washed out after months of continual selling, the declining volume profile is a good gauge.
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