ACB - I've deleted it from my daily watch listThey expect their new shelf prospectus and reverse split to be completed on May 11. Based on last week's market cap, we would be looking at 35% dilution, but after yesterday's sell off, it is getting closer to 50%.
I had a buy box for a bounce play, but for the time being, I will be avoiding ACB like the plague. ACB and CGC, they once were kings of a promised land, and then, it all went bust. My money is safe with APHA, XLY, LABS, VLNS, and the USA based MSO's. Not with Acreage though. Perhaps I sound cynical, but this is a tough time for cannabis investors, and it requires a tough attitude and strong opinion. I act on what I see, not on what analysts tell me. One even suggests ACB is still a buy. Fundamentals and business strategy are key, and both CGC and ACB are lacking, for the time being.
VLNS
VLNS - A DarlingI don't know about you, but I absolutely love this chart. It hit my target as if it was my birthright, and is currently, carefully attempting a bounce. I'm not sure what is keeping her, and I do anticipate a touch of the lower yellow line, but Valens, like LABS, is a solid bet in these scary times.
Short term, I am looking for a gap close, then, ultimately, a move to the top of the yellow channel, where I will be taking profits.
VLNS: Lots of confluence at the current levelsFundamentally strong, and possibly a bright future. Current levels complete the .618 retracement, with lots of confluence between the various rallies of the recent past. That is not to say that we have a bottom, but I dare to go long here.
