Long
[CGC] Get in Now to Ride the FOMO Earnings Wave
CGC is a much higher quality company with much better fundamentals than ACB, which just popped 200% on earnings last week. CGC is better priced than ACB already though so if earnings show any life at all, I'm expecting more along the lines of a 50-100% increase maxing out around $26. Great sell starting at $22 for an earnings swing trade.
If earnings are particularly bad we may retest lows before next earnings but probably won't ever get below $10 again. I suspect investors (i.e. the FOMO crowd) will take any shred of good news as a huge bull signal and pile in before overall market weakness collapses the stock, same like ACB. Industry gravity is high, market gravity is high.
Anything around the POC (white line) is pretty solid value here and is where I'm looking to load up on more, expecting some retrace as the ACB cannabis industry bounce fades and the overall market slows heading toward earnings.
If earnings are particularly bad we may retest lows before next earnings but probably won't ever get below $10 again. I suspect investors (i.e. the FOMO crowd) will take any shred of good news as a huge bull signal and pile in before overall market weakness collapses the stock, same like ACB. Industry gravity is high, market gravity is high.
Anything around the POC (white line) is pretty solid value here and is where I'm looking to load up on more, expecting some retrace as the ACB cannabis industry bounce fades and the overall market slows heading toward earnings.
Data analyst with a passion for best fit lines B)
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