CGC set a lower high

Even with all the pump and dump blabber from CNBC and the Fool, CGC didn't manage to break $50 with its relatively weak earnings call. Sure, revenue was up impressively, but so was cost per product sold. In fact, CGC has a much higher cost per product than any of its peers. In the long run, profits are going to make or break this stock, and at the moment, it is trading at about 17 times its actual value. I think more consolidation is due, and the trend, I think, though seemingly bullish, remains bearish.

With the lower high of $49.80 this Friday, I'll be looking for a lower low, below $41 we saw last week.