fundamentally - you would think that CGC is a LT hold due to food always needing to be on the table.. making it defensive.
Reality is that CGC dont even own the majority of their fruit producing product - merely lease on LT from another of the Costa family businesses... and then give them a portion of the volume profit from sales too.
While I am bullish on the outlook of CGC due to the products that they market - reality is that CGC is the closest thing to a financially structured product as I have seen since the GFC. They have already had dispute notices issued with their largest landlord and we have a GM who has a shady past and a very obvious lack of alignment with the CGC shareholder base.
A few more strikes here and we could make it down to $1.50 a share. I don't think it will happen - but if all the negative ducks lined up in a row - I would see it as possible.
IMO I still think we will be heading north from here and our next real point of upward resistance will be at $3.00 as CR shares get sold for a profit.
CGC Price at posting:
$2.76 Sentiment: Hold Disclosure: Held
