Cannabis bulls will be discouraged to learn that TheStreet.com's quantitative service downgraded the stock of Canopy Growth Corp. (CGC) to a "Sell" rating Thursday. The stock has lost considerable ground in recent months and the slide does not look to be over just yet.
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These names are displaying both quantitative and technical deterioration.
The main problem with price targets is that they are a static number in a dynamic situation.
Concerns about the action being overheated remain, but rotational action keeps the momentum going.
Short and sweet: This is based on the high running emotions of the markets. There's little to it beyond that.