Bought last year, way too high, down 60% in my position
Realize I suck at holding 3-5 years long term
Realize I don't like to bet on biotech/pharma companies who are constantly in development stage with no sales
I find these companies sketchy with changes in management, awaiting FDA approvals, cash burn, lack of transparency on development of new drugs/trials, burns through shareholder via share dilution/fundraising
Lacks volume and interest
Hyped up and falls hard.
Looking to average down into my buy zone, make a gain and average out my losses so I can exit.
Thoughts? Feedback would be greatly appreciated
This is supposed to be along term cannabis play in Aus, touted as the Canopy Growth Corp of Australia (side note, canopy growth does own 15% of this company and has partnerships to distribute to Australia through Auscann) But I just have no idea how big of a market cap Australia is going to comprise of.
Looking to enter at critical support. Currently there is still another 20% downside until reaching major support. Would prefer to wait a bit longer to initiate another average down purchase
Realize I suck at holding 3-5 years long term
Realize I don't like to bet on biotech/pharma companies who are constantly in development stage with no sales
I find these companies sketchy with changes in management, awaiting FDA approvals, cash burn, lack of transparency on development of new drugs/trials, burns through shareholder via share dilution/fundraising
Lacks volume and interest
Hyped up and falls hard.
Looking to average down into my buy zone, make a gain and average out my losses so I can exit.
Thoughts? Feedback would be greatly appreciated
This is supposed to be along term cannabis play in Aus, touted as the Canopy Growth Corp of Australia (side note, canopy growth does own 15% of this company and has partnerships to distribute to Australia through Auscann) But I just have no idea how big of a market cap Australia is going to comprise of.
Looking to enter at critical support. Currently there is still another 20% downside until reaching major support. Would prefer to wait a bit longer to initiate another average down purchase
Need to wait a tiny bit longer for it to hit its historical oversold levels to enter in