I normally avoid wave counting in single stocks but the story that CGC has lost 1.28 Billion quarterly loss was to good to pass up! There are more losses to come as these growers over paid for “Growing Real Estate”(Greenhouse) by an insane amount! Pot production per square footage is the key and they are paying top dollar to grow pot inside.
What the black market has been doing profitable for years the legal market hasen’t even come close! to matching.
When a stock hits $55 then funds will find them too rich and they start to dump their CGC stock.
The previous bull market correction can be a great target for some support but remember this pot industry was a mania right from the start, and hysteria’s or mania’s never end well.
When markets go wild then it also draws in all the crooks that love to scam investors. I participated in one pot IPO which I sold after a 5 wave run and will stay away from all marijuana related assets.
If CGC crashes back down to $5 CAD again it would not surprise me!