Couple things. Float is low, shares outstanding enormous. Lock-up expiration is going to kill this thing. https://cdn.shopify.com/s/files/1/0...tember_30_2016_FINAL.pdf?14296039027701547780 Any U.S. traders that want to see real-time chart/level2 symbol is TWMJF Gasper...if you are not just someone working a marketing campaign to promote this stock...take my advice and get out now. Its a legit company, but its also a huge paper tiger. fwiw.
Canada's weed business just got gigantic Canopy Growth makes big score with last week’s acquisition of marijuana rival Mettrum Health Before it became “medical or adult-use cannabis,” it was weed, an illegal plant grown in basements and sold in back alleys. Now it’s a publicly traded commodity that’s expanding on a global scale. One company that’s been growing almost faster than the rest of the industry is Canopy Growth Corporation, and on February 1 it got permission for a significant growth spurt. Insider Financial reported that Canopy, which already owns various subsidiaries, just received court approval to acquire medical marijuana giant Mettrum Health Corporation. With this acquisition, Canopy, already the largest licensed producer in Canada, becomes one of the largest producers of marijuana on the planet. “The biggest licensed producers in Canada all have a big lead when you look at it globally,” says Jordan Sinclair, director of communications for Canopy, in an interview with -Marijuana.com. Sinclair adds that, though there are many ways to measure the size and scope of a corporation, Canopy is no doubt one of the largest. Canopy will tweak how Mettrum does business to conform with the needs of its new parent company. It’s a practice Canopy undertakes every time it acquires a new entity, and it’s certainly not their first time at the takeover table. “When we acquired Tweed Farms, which was operating as Park Lane at the time, they didn’t yet have their licence. So we applied a bunch of know-how that we learned by getting our own licence. For the Bedrocan Canada acquisition, we made a very unique arrangement: Bedrocan has its own standardized operating procedures, so we didn’t change anything. For Mettrum, we’ll take a really good look at the way they’re doing things. They grew a large customer base for a reason.” Regardless of its impressive list of customers, Mettrum had to make a significant recall in November due to a pesticide that was not disclosed by a third-party manufacturer. Canopy is adamant that this kind of thing must not happen under its watch. “[We] have to make sure specifically that anything that might have led to Mettrum’s recent product recall is really tightened up to ensure it doesn’t happen again.” As bad as a recall was, Sinclair says it shows that “the system is working.” Tweed Farms is set to be a provider of adult-use cannabis once legislation is put in place across Canada, while Bedrocan will exclusively supply the medical marijuana sector. Mettrum is in less of a hurry to define itself. “Some of [the positioning] will be dictated by the laws and regulations, to understand what production will look like. But Mettrum rests really nicely as a natural health product line that has some lifestyle elements to it. It’s less about defining it as medical or recreational, and more about just finding things on the spectrum and putting that brand across so you can be diversified,” Mettrum says in a statement. The acquisition didn’t just bring more cannabis to Canopy Growth. The company has also acquired the sister product line called Mettrum Originals, hemp-based foods and topical products. Jon Hiltz is Canadian-based correspondent for Marijuana.com. A slightly different version of this story appears at Marijuana.com.
Its certainly well managed, and it looks like it could be an industry leader... but unaudited EPS for the 6 months ended Sept was $0.01(canadian lol). Its gotten way ahead of itself on (boiler-room marketing hype) I suspect. There's a reason its not on NASDAQ. TSX is notorious for these things. Everybody and their brother associated with this thing is sitting on 100's of thousands of stock options at an avg basis of approx $2... that's not good for a retail investor. They will sell, and folks buying it up here will end up holding the proverbial bag. As an aside, in California where its now legal for both recreational and medical use, there's a huge glut. http://www.livetradingnews.com/legal-marijuana-supply-glut-driving-prices-26935.html Prices are plummeting. You'll make more money shorting this thing, if it can be shorted. G/L
Interesting commentary about the U.S. market under the new AG... Ask Caulkins about what's going to happen and he won't make a prediction. But, he's bearish on the whole thing, "I think anybody would be absolutely crazy right now to put any money into any new business. Until people know what Trump/Sessions are going to do, it'd just be stupid to invest at this point." http://www.scpr.org/programs/take-t...what-jeff-sessions-means-for-california-s-le/
Being in the USA I am not usually a fan of buying stocks in other countries. However, I agree that this chart looks good and it has an upside target of around $18. But I am already in this space with another trade. I bought CARA at $10.31a few weeks ago & it's over $16.60 already. So I believe the trade has legs. Good luck with trade.
EGanon... CARA is a whole different animal. Yeah WEED's chart may look like $18 cometh... but when the shares outstanding and the float differ by like 80%.... you can't just go by the chart. The whole game plan with low float stocks is to hype them up and get as many bag-holders as possible. This thing is a time-bomb and I will bet my right nut 2 years from now it will be below $5 U.S. T/A looks at charts. Fundamentals looks at books. If you were going to buy a business... which one would you look at? For real. But hey... if you can buy a 1000 shares on Monday and sell them on Friday for $1 more... there's no denying that'll work. But this f'r is a paper tiger and then some. 3 words. Dilution dilution dilution. And 3 more....Dilution dilution dilution. There is no free ride, its a suckers game. If that chart was GE.... I'd say go for it.... but bro, you can't ignore the underlying accounting. Long term at least.