Investing

Cannabis (Marijuana) Stocks

  • Last Updated:
  • Feb 28th, 2020 10:27 am
Deal Addict
User avatar
Jul 11, 2011
3515 posts
1864 upvotes
Ontario
hebsie wrote: It filled the gap at 275.30 way faster than I expected, and keeps testing new LODs. I wouldn't paint it as strong here.

I still think it needs to re-test around 272.50, might enough look down to fill that gap at 268.12 if it's a bad week
Part-way :)


* edit * sometimes you just gotta brag a little --> 272.54 ... At close: 4:00PM EST :)
Last edited by hebsie on Nov 12th, 2018 4:05 pm, edited 2 times in total.
Member
Jan 6, 2015
265 posts
32 upvotes
Chanman94 wrote: APHA just doing APHA things...
No clue what APHA should do............ Face Screaming In Fear weird movement everyday. Disappointed But Relieved Face
Member
Mar 28, 2018
272 posts
92 upvotes
Calgary, AB
reps001 wrote: No clue what APHA should do............ Face Screaming In Fear weird movement everyday. Disappointed But Relieved Face
Leads the pack, and blows everyone out of the water one day. Gets destroyed the next while everyone else has mild losses Sleepy Face
Sr. Member
Dec 31, 2015
616 posts
116 upvotes
Yup. I can't even really say I should have sold because all the signs were pointing towards at least hitting ATH again. The volume, the rumors, listing on NYSE, and getting rid of US investments so fast. It was hard to sell in the $20ish range with everything going on.
Deal Guru
User avatar
Jun 1, 2006
11773 posts
14964 upvotes
Could anyone explain why the price of ACB closed lower today inspite of positive revenue news? Instead of going up the price dropped 16 cents

https://www.cbc.ca/news/canada/edmonton ... -1.4901839

So if Cronos report good news tomorrow will the price go up? Does not make sense, if it is good news prices should go up. But there seem to be no correction between financial results and stock price.
Have a nice day!


Deal Expert
User avatar
Sep 19, 2004
22782 posts
4588 upvotes
where I belong
LonesomeDove wrote: Could anyone explain why the price of ACB closed lower today inspite of positive revenue news? Instead of going up the price dropped 16 cents

https://www.cbc.ca/news/canada/edmonton ... -1.4901839

So if Cronos report good news tomorrow will the price go up? Does not make sense, if it is good news prices should go up. But there seem to be no correction between financial results and stock price.
MJ stock never moved on "fundamentals"
It's all about news, rumors

Remembered WEED was tanking bigly after their ER ($30's) and reversed BIGLY after STZ buy-in (C $48) and topped out ~$76
Which Credit Cards to sign up? >> Jerry's List of Credit Cards with $200+ Welcome bonus/Aeroplan & AMEX Churning FAQ
AMEX Personal 60K || Business Platinum 75K || Biz Gold 40K
Deal Addict
User avatar
Apr 23, 2006
2833 posts
797 upvotes
Toronto
LonesomeDove wrote: Could anyone explain why the price of ACB closed lower today inspite of positive revenue news? Instead of going up the price dropped 16 cents

https://www.cbc.ca/news/canada/edmonton ... -1.4901839

So if Cronos report good news tomorrow will the price go up? Does not make sense, if it is good news prices should go up. But there seem to be no correction between financial results and stock price.
because ACB wouldn't be trading at close to $9 billion market cap with a 60 PE ratio if you want to really correlate fundamentals to share price
Sr. Member
Apr 14, 2017
966 posts
427 upvotes
DT Calgary
Are people actually trying to relate marijuana stock prices with fundamentals like PE ratios and EPS? I assume you have never invested before weed stocks or bitcoin came around...
Newbie
Oct 19, 2013
62 posts
41 upvotes
LonesomeDove wrote: Could anyone explain why the price of ACB closed lower today inspite of positive revenue news? Instead of going up the price dropped 16 cents

https://www.cbc.ca/news/canada/edmonton ... -1.4901839

So if Cronos report good news tomorrow will the price go up? Does not make sense, if it is good news prices should go up. But there seem to be no correction between financial results and stock price.
All the headlines about ACB's great earnings are overblown and misleading. Their cannabis operations actually generated a loss of $111 million (on revenues of $29 million) - the only reason they had positive net income was because of their investments in TGOD and other companies.

If ACB actually traded solely on fundamentals, its market cap would be a fraction of what it is, and this is even if you factor in their future revenues a year from now.
Deal Guru
User avatar
Jun 1, 2006
11773 posts
14964 upvotes
FreshCo wrote: Are people actually trying to relate marijuana stock prices with fundamentals like PE ratios and EPS? I assume you have never invested before weed stocks or bitcoin came around...
Yep, I am new to this investing game. Lots to learn.
Have a nice day!


Deal Addict
User avatar
Jul 11, 2011
3515 posts
1864 upvotes
Ontario
LonesomeDove wrote: Yep, I am new to this investing game. Lots to learn.
A big factor yesterday in ACB going negative was because SPY doing so poorly. The entire MJ sector correlates very strongly with what SPY does, especially when MJ is trading on low volume and minimal hype like it is at present

Had we not had a 2% dump on SPY yesterday, I'm pretty sure ACB would've had some follow-thru on those 'meh' earnings.

And without that MOC sell at the end of the day, ACB would've closed slightly green
Deal Fanatic
Apr 25, 2006
5631 posts
814 upvotes
https://www.newswire.ca/news-releases/c ... 58501.html

These companies are virtually worthless!

2B market cap, 3M in revenue! They would be kicked off shark tank so fast

And the fact they had their revenues at the very bottom after a long wall of text. Acb had a way better breakdown of their financials
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius
Member
Nov 5, 2003
214 posts
35 upvotes
But ACB seemed pretty and everything went down. so wtf. lol

where is big tobacco, pharma, booze when you need them...

Top

Thread Information

There is currently 1 user viewing this thread. (1 member and 0 guests)

Bull Dog