Bullish
$NEPT Share price hits 52 week low in sympathy with MJ market, volume ramping up, retail pessimism ramping up and NEPT fundamentals including more cannabis extraction sales should be ramping up. Everyone is expecting $ACB and $CGC earnings to tank the sector. ACB already pre-announced and tipped their hand last week. The stock refused to hit the 52 week low. Canopy has been torching cash with every $1 in revenue it generates, it burns through $4.90 in cash. That is the wildcard for the market. If they can show reasonable improvement, which is exactly what the new management is attempting to do by "righting the ship" the market will then be finding a bottom. The new management has not been in long enough to see much in results but the ER call and Q&A will determine which direction the SP moves. For now extraction is still the bright spot for 2020 and a good place to start adding NEPT & MEDIF / $LABS.CA or initiating small positions around $2. Low risk entry points.
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