Canopy Growth Corp (CGC) - Tilray And Canopy Growth Need A Trend Change: Could SAFE Act Save Them?
4/20 celebrations come during a seasonally bearish time for cannabis-related stocks. Bulls can still find bullish setups and over-sold bounces, however, and long-term investors can find good entries at the bottom of trends. Tilray (NASDAQ:TLRY) and Canopy Growth Corporation (NASDAQ:CGC) have been trending downwards since reaching 52-week highs on Feb. 10. While spring and summer usually cause a low-volume lull in cannabis stocks, the possibility of cannabis-friendly policy moves in the U.S., such as the passage of the SAFE Banking Act through the Senate, could change the trend this year. Th...
Source: benzinga.com