Short
P3 Break - Price Target $11-$12 per share
Updated
Shares should bounce higher then trade further lower to 11.50 area over the next few months. Weed goes legal across Canada on October 1. My expectation is that the lows will be in around the first two weeks of October. The Company generated $79 million CAD during FY17. Shares outstanding are 177.3MM at FYE17 putting market cap at $4.3 Billion when adjusted for 500MM in cash and equivalents. That means it is trading at 54.4x FY17 revenue.
Trade active
Still shooing to the down side risking a weekly close above P3 trend line.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.