CGC retest of downtrend

Wonderful retest at panic selling yesterday. Found demand exactly at the diagonal.

That said, who remembers my bearish stance on $CGC, just 6 months ago, I predicted that we should wait for $CGC to dilute their float to raise cash. Yesterday announced issues of common shares to raise $2B.

How will investors react? Their market cap is ridiculous, don't think they are raising cash to buy assets. They need this money to survive.


It is a shelf prospectus meaning they haven't diluted yet, and may not do so for a while. I believe they would do so to buy the remainder of Terrascend once the US decriminalizes. STZ still has warrants that are almost in the money so they always have that as a backup or additional funds. This is a great sign that legislation is coming rapidly. First, SAFE banking, then rescheduling/descheduling and decorum (Schumer's bill which he said would be tabled within weeks a few weeks ago).
+1 Reply
Barkworth psbassin
@psbassin, Maybe you are right. But they do have negative cash flow, and are out of money.
Always following your analysis
Wow haven't noticed the market cap of CGC. What does it tells you?
Barkworth al3jandrus
@al3jandrus, "overvalued". But nobody cares.
al3jandrus Barkworth
@Barkworth, since it doesn't looks like the best bet for pot stocks, it could be an indicator that whales have a big portion of the pie.. hence they can short it severely when they consider appropiate. Scary
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