let's talk about a few individual names pivoting to our stocks to watch this
week starting with a canopy growth because I think this is a really great
example of what we've been talking about but if you take a look at the chart I
mean the stock has been in a prolonged downtrend as are many of the names in
this group indeed and you know canopy growth was the first cannabis company
that we put on our focus list at William O'Neil & Company last August when we
launched coverage of the industry we continued to think that it's the market
leader that it has the best that it has the best is in the best position to be
the market leader in Canada and internationally they have the most
really capital to do this and they have the backing of Constellation Brands a
major beverage company however as you as you said you know these companies not
just canopy but really the whole industry has sentiments been pretty poor
recently like we've seen the last two summers there's kind of been a summer
lull in volumes and a decline in the prices and so we are really seeing some
technical weakness across the space and so part of our investment approach is to
look at not just the fundamentals and identify companies we like based on that
but really looking at the technical factors and right now you know we really
don't want to catch falling knives and so we're sort of on the sidelines when
it comes to many of these names including canopy growth which we had on
our focus list for nearly a year we took off in early July partially because they
there were some at the management level they removed their founder co-founder
and co-ceo so we want to see how that shakes out in terms of bringing on
someone new and you know the companies last quarter was actually quite
disappointing but we think that you know they really do have a chance to to let
the market know what direction they're really going to be focusing on and
improve those fundamentals over the next few quarters so we're watching them
closely