CGC, what a disaster

4 set 2019

No clear path to profitabilty, Linton out the door, Constellation in charge. This is NOT the same company we were so fond of, earlier this year. Don't be fooled by that weak bounce, yesterday. As long as weekly resistance of $25.57 isn't broken, this stock has more downside ahead. Loss making, burning through cash. They announced recently that they won't be profitable for at least another year and a half. That should be an indication that we can expect another $250M loss in the upcoming quarter.

I think that we'll see CGC below $20 before the year is over, and at that price, it would still be too expensive.

Disagree? Please share your thoughts :-)

9 set 2019

Nota

Weak bounce looks like a correctional move only. We’ll see her retest those lows before she’ll try and fill that gap. As said: trade with caution. There is absolutely no catalyst to proper this play back to old highs, yet.