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Hey Nerds: Blockchain

Canopy got another downgrade this am. Big volume puke to $18 US. Recovering nicely since. Not in it myself, but something I'm keeping an eye on.
 
I bought a very minimal amount of APHA near LOD on my US account. Sold half, letting the rest ride for earnings. Didn't want to risk it but seeing a low volume dump felt like a clear buy signal to me.
 
Although it is pretty funny that Canada has pretty much plateaued for now in cannabis sales, just a year in. 8% increase in cannabis revenues is considered a success in times of despair eh.

They seem to have their shit together better than the others though at least. I still think OGI is the only name that is run pretty well and relatively attractive at this valuation. Based on the price action the past few days, the market is agreeing.


Other than that... A whole lotta disasters.
 
I hope someone joined me in Beyond Meat puts. 11 buck dip, pretty much in a straight line since my Friday post.
 
CH1 said:
I hope someone joined me in Beyond Meat puts. 11 buck dip, pretty much in a straight line since my Friday post.
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Terrific play. I scraped up the bit of cash I had available on my US account for my APHA play unfortunately.
 
CH1 said:
i took my profits in fake meat
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The right play. I'm just waiting to make a quick sale on some points from churning. I'll have about 6k to throw into my US account when all is said and done. It'll be used as play money basically.
 
CH1 said:
As for Roku, I suffered a few paper cuts last week. But got back in when it showed relative strength on Tuesday while the overall market plunged.

I think it has room to run to 130. I'm betting it just needs a break before that.
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That happened fast!
 
Being overweight in OH paid off today. That was a fun day - October 17th is a very important day with the DOJ review period expiring; no news is good news. Have to be cautious of a sell the news event though since literally no one expects the deal to not go through. If OH and CL continue to run up a lot tomorrow I may skim some shares just to be extra protective. And then there's coming up with a gameplan before the deal officially closes.. the shares won't convert overnight. Do I want to hold as much as I currently hold completely blindly for potentially several weeks? Scary proposition when we've been bloody for months.

GTII showed strength near close which was good to see too.

APHA did not break out of its equilibrium all day pretty much. Not the most convincing move. We'll see what tomorrow holds.
 
I think some people do think they deal will not go thru, otherwise OH would be trading at $7. (.842 x 8.31 (CL share price))

OH closed today at 6.38. Almost a 10% discount.
 
CH1 said:
I think some people do think they deal will not go thru, otherwise OH would be trading at $7. (.842 x 8.31 (CL share price)

OH closed today at 6.38. Almost a 10% discount.
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Yeah, gap closed quite a bit today and I presume it may close even more tomorrow. Thing is, we don't know if it'll close by OH popping or by CL dumping. Reminds me of early September when the MMEN-Pharmacann expiry date passed and the deal looked like it was going to close.. The OH discount went from 30+% to 15%. I sold some OH in the high 8's but not enough it. Shortly after, shorts took control of CL and decided to tank the stock - from $12.50 to $7 in less than a month. It has been a nice recovery thus far but nothing too convincing yet. I am a bit worried CL sells off a bit again, but holding OH and at least having the 10% buffer is at least somewhat comforting.


The saving grace is, this is a really really really good company. So if we care about fundamentals.. This is a winner. Them and Green Thumb are going to run train on Illinois next year.
 
VGW posted very good earnings after the close. It ran 17% today ahead of the news, so who knows if it'll have more juice tomorrow.
 
Uhhhh big time short squeeze after hours. Could there be news on CRON or whale shorts covering conveniently timed the day before legalization 2.0?
 
All of the US traded big boys are up after hours by a big chunk. Not a CRON big chunk, but solid regardless.
 
MindzEye said:
All of the US traded big boys are up after hours by a big chunk. Not a CRON big chunk, but solid regardless.
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I think they just followed CRON. But I'm leaning more towards whale shorts covering than material news on this one. Not a bad time for them to bow out right before edibles legalizing.
 
I don’t think Shorts would cover AH went liquidity is at its lowest.

Maybe an ETF had to rebalance?

I guess we’ll find out tomorrow.
 
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