Get started

Cannabis

Cannabis headlines - turning bullishThe Cannabis ETF (MJ -4%) is trading at at six-month low as investor hype around cannabis stocks has faded. In a somewhat predictable sell-the-news reaction, the MJ ETF peaked when recreational cannabis went into effect last Fall after staging a massive run leading up to the highly anticipated event. Since then, the onus has been on companies to deliver. Most of them have begun reporting enviably strong sales growth, but the euphoric valuations had priced in a generous amount of future success. Last week, Canopy Growth (CGC) Founder Bruce Linton was ousted from his role as co-CEO. He did a great job scaling the largest cannabis company in the world, but Constellation Brands (STZ) sought a more sound operational manger for the next phase of growth at its multi-billion dollar cannabis investment. This week, CannTrust (CTST) announced that it was non-compliant with certain regulations in Canada, resulting in millions of grams of inventory being put on hold. The stock has nearly been cut in half. The cannabis market is still nascent and the THC and CBD markets have tremendous long-term potential, but unforeseen events are par for the course in the world of business. In hindsight, cannabis stocks were priced for perfection, so it was just a matter of time before sentiment cooled off. Cannabis stocks have pulled back from their aggressive valuations as expectations have been set at a more reasonable level. Headwinds in the form of regulations and capacity constraints appear to be abating as the industry starts to mature. The growth outlook remains very promising. Despite the recent sell off, the leading (largest) cannabis companies Canopy Growth (CGC), Tilray (TLRY) and Aurora (ACB) still trade at ~20x forward revenue estimates. With the backing of Altria (MO), Cronos (CRON) is even more expensive relative to sales estimates while Aphria (APHA) trades at a discount. --- Briefing . com
AMEX:MJLong
by dorfmanmaster
1
Breaking SupportHEXO had taken a huge beating for the last 2 months. It was projected to hit $12 this year, turned out the government messed up so badly that the stock plummeted. HEXO found support at $6.60 range. Today heard more news about pricing issue that black market cannabis is still much cheaper than retail... (as it should) I can expect this stock to breakthrough support and continue on the downtrend. However IIPR is still going strong forming consolidation. If you are a long person. Check that out.
TSX:TLRYShort
by TradingCow
Last chance to buy TLRY sub $50!Update on TLRY. Please like/comment if you see value in this post. Thanks. My previous post/analysis/thought is still in tact ( ) I found that the current price action found the blue channel very well. Also, the bottom blue line in that channel is very compatible with the other part of the price chart. I still think any purchase within that green box would be a winner buy and this could be the last chance to buy TLRY below $50. The Fib Circles in green still plays very well. I expect to see another drop as we approach/pass the next green circle and in general I expect to see the price chart follow the channel in blue. ADX and DI looks very healthy and supportive too, the green line is above the red and DI looks like growing (getting more momentum). TLRY finds a good support on 50-day MA as well. Good luck.
NASDAQ:TLRY
by walekiller
CGC - Elliott Wave analysis - At a cross road6/29 - what could have been the beginning of the 3rd wave starting in mid April failed to materialize as price action headed into a descending triangle. Therefore I had to re-position the count of Wave 1 to April 30 - With the re-positioned count, we are currently in Wave 2 nearing the end of another descending triangle. If this holds true, we expect price to move up in a thrust to Wave 3. - Invalidation Point: $25.26 if Wave 2 retraces all of Wave 1, this count is no longer valid and we are likely in Wave (c) of a corrective cycle. - Confirmation Point: $80.23+ price breaks above the length of Wave 1 such that Wave 3 is not the shortest wave.
C
by dencor
3
Akerna $KERN Coming In That Buy Zone. Fresh IPO (kind of).Akerna coming into that buy zone. Stock IPOed (actually it was a SPAC) at around $11 after doing their last private placement at $10.21. As this is a recent IPO (of sorts) and a cannabis company, I expect this will eventually shake out at 2x the IPO price (around $20) so buy on dips. Why 2x IPO price? Look at high flyers Zoom $ZM, Beyond Meat $BYND, Crowdstrike $CRWD, all trading at about 2x IPO price, based on hype, growing markets, and sales growth. Akerna is Cloud + Payments + Cannabis. They have an ERP software for cannabis supply chain / growers / dispensaries. All the buzzwords. Not sure 100% if the company has a legit future (need to do more research), but certainly I think this thesis is enough to put it on your watchlist.
KLong
by behindthebid
Analyse - Long Term vision for Aurora Cannabis $ACBLogarythmic View : Nice bounce on the LT Trend line , Support need to be confirmed RSI is increasing and is repeating a 2-year-old pattern that with pure coincidence occured from May to August at that time... Damn god is it so easy ? Just play repeat and smash it off ? Well let's see ! The funny thing is that it's really similar to BTC charts ! To sum up : Huge Potential Upside guys Moreover, Pot Stocks & Cannabis industry are going very well. Good News are coming from everywhere , even for Cronos Group , Tilray , Zyne Pharm. and so on... Government and Laws are becoming more & more flexible towards CBD stuffs which provide a answer for Physical Human issues (sickness , cancers, pains... ) And our Generation is changing, globalized , curious of everything, and everyone know what is it. Consumption & Adoption have begun in the early ages, and now it's going Industrial, Big ! Keep an eye on ! ***This is not a financial advise*** (ykwm) Nico Don Crypto
ALong
by NicoDCrypto
Bad News for CannabisCanadian cannabis market is still in the process of sorting itself out between Legal and Blackmarket cannabis. New challenges ahead if the Cannabis sector do decided to produce products such as edibles and beverages which will also incur additional cost to process. Given the circumstance that Cannabis industry is in, many recreational smoker now have the ability to grow their Cannabis at home (my friends included :P), we can expect further struggles with these companies since casual grower have also the ability to cook up their own consumable and often more creative. Let's wait for Monday and see how the market will respond. Also check out “HMMJ - Canadian Cannabis ETF” if you haven’t which will give you some insight of the overall cannabis condition.
TSX:WEEDShort
by TradingCow
$XON Intrexon Corp Climbing Up The Charts$XON has been making a nice run up the charts lately. We don't think this run is over by far as there looks to be a lot of momentum behind $XON. There's also a gap higher that needs to be closed from $12.77 to $12.96 The stock is getting a boost today after announcing an exclusive wellness agreement with Surterra Wellness. The companies will join forces to advance Surterra's cannabinoid production at a reliable, efficient, cost-effective, industrial scale utilizing Intrexon's proprietary yeast fermentation platform. The $100 million deal, including milestones and royalties, will leverage each company's expertise to ultimately bring new cannabis products to market to meet growing, and more selective, future consumer demand, with greater supply chain security, in a more consistent, efficient and cost effective way. As always, trade with caution and use protective stops. Good luck to all!
XLong
by OptionsGains
Triple Bottom is In for Terra Tech - Standby for the AdvanceTriple bottom is in for Terra Tech on the day chart. Wait for the advance in the coming weeks. - Usually form over a 3 to 6 month period. CHECK. Dec 14 - Jun 19. - Prior Trend: With any reversal pattern, there should be an existing trend to reverse. In the case of the Triple Bottom Reversal, a clear downtrend should precede the formation. CHECK. Literally been in a downtrend since the beginning of time. - Three Lows: All three lows should be reasonably equal, well-spaced and mark significant turning points. The lows do not have to be exactly equal, but should be reasonably equivalent. CHECK. All three occurred in the .55 - .6 range. - Volume: As the Triple Bottom Reversal develops, overall volume levels usually decline. Volume sometimes increases near the lows. After the third low, an expansion of volume on the advance and at the resistance breakout greatly reinforces the soundness of the pattern. CHECK for decline in volume. Hope to see an expansion in volume over the coming weeks. - Resistance Break: As with many other reversal patterns, the Triple Bottom Reversal is not complete until a resistance breakout. The highest point of the formation, which would be the highest of the intermittent highs, marks resistance. Patience is a virtue...strong resistance at numerous levels above .8.
TLong
by danj371