As touched on yesterday afternoon CGC has gone into a trading halt as it looks to raise ~$200m to fund a citrus acquisition, not surprisingly as they search for money the company announced that operationally there were no adverse hidden surprises. Investors looking for a bargain should remember how CGC tumbled -27% in May following a mixed trading update which amounted to a miss compared to optimistic analyst expectations. Hence while we are considering CGC into likely weakness post the raise we are planning to be fussy short-term.
MM likes CGC under $3
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