Description
⋅ Shorting CGC as poor earnings, Black market marijuana cut their prices as soon as legalization happened.
Core companies or government marijuana is known now is weak and hasn't made much gains due to high prices.
They don't know their competitors and understand their market. More poor earnings to come.
August 2 EXP debit spread $390 entry and exit will be $200 gain at around $36-37 by Mid august.
Max loss is $200
Comment
⋅ Reduced my load to 1x and took a loss of $50 due to the reaction this morning and the buyback of shares or short covering.
Trade closed manually
⋅ Lost $100 + commission it was a good trade but I had to reduce my losses as direction changed abruptly