I understand that my chart may offer you too many lines to understand. The red lines are long term trend lines, connecting peaks and dips. The blue lines are a Gann Box for the current cycle.
I have marked the channel in which CGC has been trading for the past weeks. That is the one that is most important to notice. The thick blue line at the end, represents the 45 degree lines of the Gann Box. If you are into Gann, you understand the significance of this line.
Anyhow, it amazes me that investors feel like $40 is a great buying opportunity for CGC. I wanted to take the opportunity to share with you the fact that Q2 ended June 30, and Linton was fired on July 3. The Q1 loss was 94 million $. It is my absolute best guess that the July 3 firing implies increased losses for CGC. In other words, if you are in now, you may be in for a 25% or more, downward adjustment.
CGC's failing confirms one thing I have been saying for months: ACB's strategy is much more consistent. They own their own company, nobody can force them into a different direction. They have a broad international footprint, and a clear path to profitability. While CGC is billions away from living up to their valuation, ACB is doing just that. It is my thought, therefore, that now is the time to exit CGC, and look at ACB, before everybody else does.
Just my 2 cents. It is free. Trade with caution, especially when SPY turns bearish.
I have marked the channel in which CGC has been trading for the past weeks. That is the one that is most important to notice. The thick blue line at the end, represents the 45 degree lines of the Gann Box. If you are into Gann, you understand the significance of this line.
Anyhow, it amazes me that investors feel like $40 is a great buying opportunity for CGC. I wanted to take the opportunity to share with you the fact that Q2 ended June 30, and Linton was fired on July 3. The Q1 loss was 94 million $. It is my absolute best guess that the July 3 firing implies increased losses for CGC. In other words, if you are in now, you may be in for a 25% or more, downward adjustment.
CGC's failing confirms one thing I have been saying for months: ACB's strategy is much more consistent. They own their own company, nobody can force them into a different direction. They have a broad international footprint, and a clear path to profitability. While CGC is billions away from living up to their valuation, ACB is doing just that. It is my thought, therefore, that now is the time to exit CGC, and look at ACB, before everybody else does.
Just my 2 cents. It is free. Trade with caution, especially when SPY turns bearish.
Comment:
Trading at $34 today. Now they moved away from reaching 1B$ in revenue rhis year. Meanwhile, ACB is inching closer to profitability.
Comment:
Hitting the Gann lines perfectly. More downside ahead.
Comment:
Spot on, still. Hitting the lines and continues to fade. Earnings coming up. What is it going to be? $25?
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