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1.89%

5.2¢ cann group limited

Could be but I doubt its on its way down from here. Recent...

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Exised

6,287 Posts.

2974

03/05/18

15:10

Post #: 32862637
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Originally posted by sisyphus.climb ↑

I am a firm believer in Cann Group, but the recent surge was a classic pump and dump.

AFR posted their story with way more information than they should have had access to. They gave no source or evidence to verify their claim of a $4.50 valuation. Buyers pile on as expected and push the share price up.

Cann Group confirmed only that Aurora was in preliminary talks about a transaction and denied that it was for a takeover bid. Share price keeps climbing anyway.

Cann Group releases ASX response to officially counter the AFR story. Share price falls dramatically, as expected.

I doubt there will be any further announcements on an Aurora transaction in the immediate future and as the quick-money buyers lose patience the share price will make a slow march back to its previous level.

Aurora may eventually takeover Cann Group completely but I suspect a 4-5% increase in their holding to come first. Based on my own research I believe this is the transaction they were in preliminary discussions about, but time will tell and only true insiders really know.

I hate seeing games being played with genuinely valuable companies but I took a great profit during the recent surge. If it falls as much as I expect it to I’ll be rebuilding my long position but the current price is based on blind speculation and I don’t trust the rumour mill for a second.

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Could be but I doubt its on its way down from here. Recent movement being a speculative one should be showing blow-off tops in at least a couple of day candles. Haven't seen it yet... My call therefore is that this is a pause in the current run up...

Last edited by Exised: 03/05/18

CAN Price at posting: $3.49 Sentiment: Hold Disclosure: Held
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(20min delay)
Last 5.2¢		Change -0.001(1.89%)		Mkt cap ! $24.37M

Open	High	Low	Value	Volume
5.3¢	5.6¢	5.2¢	$9.599K	177.4K

Buyers (Bids)

No.	Vol.	Price($)
1	236	5.2¢

Sellers (Offers)

Price($)	Vol.	No.
5.4¢	3654	1

View Market Depth

No.	Vol.	Price($)
1	236	0.052
8	116873	0.051
7	286000	0.050
2	184166	0.048
2	95276	0.047

Price($)	Vol.	No.
0.054	3654	1
0.056	28303	1
0.057	364683	1
0.059	88867	2
0.060	50000	1

Last trade - 15.40pm 11/10/2024 (20 minute delay)

CAN (ASX) Chart

Could be but I doubt its on its way down from here. Recent...

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

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NRW Holdings inks $109M deal with BHP for works at Jimblebar

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The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

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Buyers (Bids)

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Could be but I doubt its on its way down from here. Recent...

Top Stories

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

Cauldron Energy reports "excellent" uranium assays in latest drill run

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

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ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News