All those gains up in smoke today. Canopy got crushed.
well, i’m down a decent rental property in buffalo now
Hold onto your nuts! I haven’t added to a position in a while. Canopy got smashed. They still have 2.7 billion cash on hand, but man they aint selling shit. They sold 20% of what they grew. There’s a fuck ton of inventory left over.
From WSB… I LOL’ed:
CGC the company that just signed a deal with Drake to do a cannabis collab? Literally can ONLY go tits up, and if Drakes there you’d be lucky if the tits are 18+
I’ve been tracking a lot of WSB’s posts, and guys that post their positions are right about 6/10 times. It’s really tempting me to just risk a couple of bucks and buy some options based on these posts. I need to further the detail in my data and start tracking individual users.
i always knew some of these guys would go tits up and i’ve seen zeros on a bunch. but i also see that there are only 24 stores in Ontario when there should be 1,000 based on the stores opened in other provinces.
the revs will come and a few will emerge and build of Canada into other countries. i’m just going to hold for 5-10 years and make more money elsewhere.
same with crytpo. i’ll put more money in when i am comfortable making long term gambles.
I’m starting to see articles talking about the potential upside now that they’re all in the shitter. One of the things mentioned was the terrible roll out in Ontario and how it can only improve.
Just bought some PUTS on aurora cannabis for December 6th. Not a ton, just 5 contracts. Be nice to make a couple hundred bucks, if not I’m out 75$.
Sold a bunch of my medmen on their last spike at 1.50, now at 1$. They just announced mega layoffs Friday afternoon. Guessing this will drop to 80-90 cents. Then I’ll buy back in.
Only thing that kept my speculative portfolio up at all is my Tesla stock, got in at 190. So I pretty much broke even this year. When I do my taxes my guys gonna say ‘I told you that you only got lucky on those pot stocks last year’
Edit - bitcoin did the best for me this year, outperformed my Roth and 401
Holy fuck. This is wild:
Article says he used Lexapro. Lexapro is an anti-depressant and if snorted/abused it can induce states of calmness and mild euphoria (according to r/drugs on reddit) along with a major short lived rush.
With some powerful weed, and I mean powerful, IDK. I still think his weed defense is bullshit.
What I believe is that he harbored these feelings against his father prior to this, and perhaps abusing the Lexapro and getting high as balls, he followed through on those feelings.
Cannabis induced psychosis is very real. Real enough to make someone murder someone? I call bullshit.
Own up to your murder buddy.
Medmen below 50 cents. I wish I knew the future to buy more or not.
i actually cannot believe it.
these guys were north of $8 (CDN) at peak. i started buying in the low $3 range.
I will keep buying these guys. they are backed by Gotham Green PArtners (GGP) which essentially controls Cronos and Ianthus by being a major source of funds and connector of deals. At these prices it’s pretty crazy. i bet GGP is scalling into MMEN and also funding the negative pieces to suppress the price as they scale in.
MMEN’s footprint, branding and revenues are among the best out there. Trulieve and CURA are beating them and Trulieve is still a single-state operator (FL).
*edit, just bought another 1100 shares of MMEN
Opened an old watch list which had a bunch of weed stocks on it and holy shit… OWCP added at $1.82… now it’s $0.0067, lol.
They get criticized a ton on reddit for burning through cash like crazy. Others have been stating Gotham Green will take them private for pennies on the dollar.
Their earnings are at the end of this week I believe.
@Onyx_Z32 a lot of people can’t believe this shit either
Medmen earnings in. 5% quarter over quarter increase in earnings
Burned 44 million this quarter with 42 million remaining for this quarter, they need money
25 cents incoming god dammit
Hope I’m wrong
saw that, still dont see these guys going under. diluted sure.
If this went to 25 cents part of me wants to buy 100,000 shares LoL I wouldn’t be able to sleep at night
Canopy class action incoming:
Canopy Growth Corporation (NYSE:CGC)
CGC Lawsuit on behalf of: investors who purchased June 21, 2019 - November 13, 2019
Lead Plaintiff Deadline : January 20, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/canopy-growth-corporation-loss-form?prid=4637&wire=1
According to the filed complaint, during the class period, Canopy Growth Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing weak demand for its softgel and oil products; (2) as a result, the Company would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
its bullshit. every cannabis company has multiple suits being brought against them.
There are several for sure, Aurora just had a couple class actions heading their way.
Fucking medmen at 39 cents yesterday!!!
Added to my WeedMD and Trulieve position.