Short seller Andrew Left getting his ass kicked by Pot stocks.

[MarathonMike]

I have no axe to grind here as I sold out of Pot stocks when they went crazy. Too volatile for my blood. But I have to admit I am enjoying seeing Cronos shooting back up after Andrew Left went on CNBC and attempted to torpedo the stock with "fraud" allegations and his seat of the pants valuation of $3.50 a share. What made this particularly egregious IMO was that he had just taken a huge short position in Cronos and I was pretty surprised CNBC gave him a platform to try and enhance his position. Since his appearance Cronos has rebounded about 30%.

CNBC did have the Cronos CEO on today and he made a lot of sense in explaining his company's strategy and was quite measured in what he said about Andrew Left.

 

[Treeshepherd]

I work in the legal cultivation business. I wouldn't invest in growers. There's too many bad things that can happen when it's scaled to an industrial level (mildew, super-mites, etc.)

Industry suppliers, retailers and medical innovators are a better bet in my opinion.

 

[MarathonMike]

That makes sense. This appears to be a FOMO rally (Fear Of Missing Out) at this point.

 

[MarathonMike]

HAHAHA after getting it handed to him on Cronos, Andrew Left is getting pummeled by Pot stock Tilray. Check out this Tweet from a week ago. For the record at the time of this Tweet Tilray was about $77/share. Today a week later it is $106/share. OUCH! It's fine to be a shorter but when you go on TV throwing mud at a company without evidence you deserve to get smacked down.

TWEET:
Citron LOVED $TLRY at $26 but now we are SHORTING stock. Cowen lowered est and still raised tgt $62 only shows "RETAIL INVESTORS GONE MAD" and forgot $TLRY went public at $17 - 6 weeks ago. We would expect an equity raise at these levels. By far most expensive in space.

9:06 AM - 4 Sep 2018

 

[Picaro]

I have no axe to grind here as I sold out of Pot stocks when they went crazy. Too volatile for my blood. But I have to admit I am enjoying seeing Cronos shooting back up after Andrew Left went on CNBC and attempted to torpedo the stock with "fraud" allegations and his seat of the pants valuation of $3.50 a share. What made this particularly egregious IMO was that he had just taken a huge short position in Cronos and I was pretty surprised CNBC gave him a platform to try and enhance his position. Since his appearance Cronos has rebounded about 30%.

CNBC did have the Cronos CEO on today and he made a lot of sense in explaining his company's strategy and was quite measured in what he said about Andrew Left.

Speculators work off of rumors and fake news, and thus guy is no different; they could be good news for markets, but most of the exchanges restrict short sales as a free bennie for companies and their stockholders, sort of large 'stop loss' scam, which also makes it easier to lose on short sales, which is a shame, really. Not nearly as valuable a freebie as 'limited liability', though, but with such hyper-inflated corporate valuations and loose accounting rules it's still a valuable bennie.

 

[Picaro]

HAHAHA after getting it handed to him on Cronos, Andrew Left is getting pummeled by Pot stock Tilray. Check out this Tweet from a week ago. For the record at the time of this Tweet Tilray was about $77/share. Today a week later it is $106/share. OUCH! It's fine to be a shorter but when you go on TV throwing mud at a company without evidence you deserve to get smacked down.

TWEET:
Citron LOVED $TLRY at $26 but now we are SHORTING stock. Cowen lowered est and still raised tgt $62 only shows "RETAIL INVESTORS GONE MAD" and forgot $TLRY went public at $17 - 6 weeks ago. We would expect an equity raise at these levels. By far most expensive in space.

9:06 AM - 4 Sep 2018

He could also have been counting on a contrarian reaction from his fellow gamblers and secretly bought more than he shorted, not an uncommon game with the herd of day traders and insiders out there trying to create 'movement' in prices. And, maybe he does have evidence?

 

[MarathonMike]

HAHAHA after getting it handed to him on Cronos, Andrew Left is getting pummeled by Pot stock Tilray. Check out this Tweet from a week ago. For the record at the time of this Tweet Tilray was about $77/share. Today a week later it is $106/share. OUCH! It's fine to be a shorter but when you go on TV throwing mud at a company without evidence you deserve to get smacked down.

TWEET:
Citron LOVED $TLRY at $26 but now we are SHORTING stock. Cowen lowered est and still raised tgt $62 only shows "RETAIL INVESTORS GONE MAD" and forgot $TLRY went public at $17 - 6 weeks ago. We would expect an equity raise at these levels. By far most expensive in space.

9:06 AM - 4 Sep 2018

He could also have been counting on a contrarian reaction from his fellow gamblers and secretly bought more than he shorted, not an uncommon game with the herd of day traders and insiders out there trying to create 'movement' in prices. And, maybe he does have evidence?

If he does have evidence he wasn't forthcoming with it in his interview when he was bashing Cronos. I believe I heard the Cronos CEO say in a subsequent interview that Citron had already covered their short on Cronos which was just a few days after Andrew Left's interview. I'm guessing he's either covered his Tilray short or doing some serious hedging for damage control. He screwed the pooch on this one and based on his conduct, well deserved IMO.

 

[martybegan]

I work in the legal cultivation business. I wouldn't invest in growers. There's too many bad things that can happen when it's scaled to an industrial level (mildew, super-mites, etc.)

Industry suppliers, retailers and medical innovators are a better bet in my opinion.

That may be the case now, but like any fledgling industrial scale enterprise, never underestimate ingenuity when it can increase one's bottom line.

 

[Treeshepherd]

I work in the legal cultivation business. I wouldn't invest in growers. There's too many bad things that can happen when it's scaled to an industrial level (mildew, super-mites, etc.)

Industry suppliers, retailers and medical innovators are a better bet in my opinion.

That may be the case now, but like any fledgling industrial scale enterprise, never underestimate ingenuity when it can increase one's bottom line.

The tastiest varieties of tomatoes aren't scalable to mass-production. They don't grow uniformly, resist diseases, transport well or have good shelf life. Same goes for the stoniest strains of ganja.
Mass-produced weed will be used as an ingredient in other products. I think that's where the innovation will happen. A low calorie beverage that gets you high would be popular as a healthier alternative to alcohol.

 

[martybegan]

I work in the legal cultivation business. I wouldn't invest in growers. There's too many bad things that can happen when it's scaled to an industrial level (mildew, super-mites, etc.)

Industry suppliers, retailers and medical innovators are a better bet in my opinion.

That may be the case now, but like any fledgling industrial scale enterprise, never underestimate ingenuity when it can increase one's bottom line.

The tastiest varieties of tomatoes aren't scalable to mass-production. They don't grow uniformly, resist diseases, transport well or have good shelf life. Same goes for the stoniest strains of ganja.
Mass-produced weed will be used as an ingredient in other products. I think that's where the innovation will happen. A low calorie beverage that gets you high would be popular as a healthier alternative to alcohol.

You also have to remember that most of the population doesn't have that sensitive of a palate, just look at the most popular beers by sales to see that fact.

 

[evenflow1969]

That makes sense. This appears to be a FOMO rally (Fear Of Missing Out) at this point.

He missed a few things that can go bad! I would also be hesitant to invest in any of it until it is no longer illegal on a federal level!All of this good will towards it disappears and the feds are left with an ability to prosecute you! Winds do change you know!