Investment "Logic"

On October 19 I filled another third of my expected position of Canopy Growth Company at $48.50.  At the time I placed the order, the stock was showing a strong floor in the $45 - $48 range and was really struggling to get below $48.  Given the stock had recently run up to the mid-50s and Canada's prohibition ended two days earlier.  I felt the amount the stock pulled back seemed reasonable on the sell the news situation and dove in.  We now know that choice was rather early, given the stock is now in the 38s after having hit as low as the 36s.  Given the current market conditions and overall chart health, I'll be sitting back for a bit to see when/where this stock stabilizes before I think about filling my position.  $35 is certainly a price area of interest, but I've also read that the stock could get down into the 20s.  It's important to remember that a huge portion of this company's value is in cash from investment from Constellation Brands....