February 14th 2017
Canopy Growth Corp.
Canopy Growth after its bull run last week is now in a pullback after its earnings report hit this morning. The pre market bid for WEED was at $13.25 CAD and quickly at open slid down to $11.60 CAD. Even though positive revenues and earnings were shown, the market principle ” buy rumors , sell news” was taking hold. Shareholders should not worry at all about this healthy pullback, but take advantage if you can. Personally, I will be starting a new position in WEED at around $11.30 – 11.50 CAD. This emerging industry is still very volatile , but I am confident in WEED and can count on their share price being higher than $13.00 in 2017.
Another one of my favourite stocks has had a recent bull run which has taken it to new highs. Cronos Group or MJN.V has announced a bought deal of $15 million for shares at $2.25. As of february 14th 2017 closing the share price sits at $2.56 CAD, with this bought deal announced after market close we can expect a red day for MJN.V on february 15th. I personally think that the share price will definitely dip down to $2.25 and even test $2.20 before heading back up. Im hoping I can enter into MJN.V again at $2.20 – 2.25. Again readers should evaluate their own positions and do their own due diligence before making a trade.
Disclosure: I own no position in either company listed above ( WEED & MJN), I do however intend to begin a position when my entry price has been reached.