Day 23
My Invitae stocks dipped 21.85% after missing earnings and revenue estimates. In my opinion, the Q3 performance wasn’t bad; revenue growth year on year was 66.4%. Wall St always overreacts anyway. On the other hand, my SMG stocks are doing just fine. Since cannabis is an obviously rapidly growing industry, most cannabis stocks are expensive. When I came across SMG, I found it to be significantly undervalued. Although not a direct cannabis play, it has a core consumer business providing steady cashflow to grow its Hawthrone segment. And that segment in Q3 has grown 48% year on year.
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