The way I see it is this is going to fall on earnings. Will think big boys will try to take it down to flush out the weak hands after hours. IMO i can also see pot stocks starting the move of bubble type bull run.
Couldn't agree more, my thoughts exactly (have actually been saying we might be seeing the beginnings of a cannabis bubble all over the internet). Definitely see it having weak earnings and falling, although I don't know much about its fundamentals. Either way that gap is huge and has to be filled, if it isn't filled this week we will prob see some sort of pump and dump action so that it gets back down there.
schmidtke_jake
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@IanHarper94, thank you. yea not sure about fundamentals either but I know this first earnings since it went Public, so I will be watching what the revenue is and what they will be guiding for next quarter.
ZarethKnyght
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@schmidtke_jake, That's the problem with these cannabis companies right now. Their main product cannot produce revenue yet since weed is still illegal to sell outside of medicinal purposes until October (at least in Canada).
schmidtke_jake
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@ZarethKnyght, good point, what about a possible cannabis shortage in Canada here's a link to an article i found with a quick search newcannabisventures.com/the-looming-canadian-cannabis-shortage/ what's interesting on a quick glance Tilray only has agreements with two provinces. Something to keep an eye on, article is bit outdated though, so not sure if they gain any more licenses.