Post by
FormerHedgie on Apr 24, 2024 5:37pm
Anyone have any ideas on why the big move today?
As I try to understand the macro forces behind a stock, I think with HMM.A that the US$ / CDN$ exchange rate is a big one. I think given the continued strong economy in the US the likelihood of rate cuts is diminishing daily. As a result, this means the US$ will continue its strength.
Clearly, over the last month or so, someone that just have had a large position that was very profitable just pounded the stock. It seemed a week or two ago the massive wave of selling stopped, the stock stabalized and has reversed itself.
Perhaps there is some additional expectations of a strong Q1 that could be a catalyst to build confidence in the continued success of the company / stock.
Would like to hear other ideas.
Comment by
TimeScape on Apr 26, 2024 12:39am
The big move Tuesday was to a large extent the result of the new list of 10 promising small cap stocks put out by 5i Research that day - HMM.A is on it. Some others on the list had big up moves Tuesday as well. Plus, some recovery from the selloff over the last little while.
Comment by
FormerHedgie on Apr 26, 2024 9:28am
Hey, thanks for this. I used to work with Peter, perhaps I will reach out to him to hear his thesis on HMM. I am curious, what were the other names on the i5 list? Thanks again for sharing.