OTCQX:VLNCF - Post by User
Post by
PUNJABIon Jan 24, 2022 10:18am
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Post# 34352135
Buyers on stike.
Buyers on stike. Anything with no earning, high burn rate or high PE ratios will take bigger hits during the correction.
Never thought that I would see such a weak market book for this stock. The volume on the stock has dried up. Nasdaq has a tiny volume too. So buyers in US are not lining up. NASDAQ market book does not display most of the orders but the Canadian market book displays most orders except special orders.
Anything with a high burn rate will be a falling knife as the fear will take over.. Hard to call the bottom for this sector. I might consider trading the sector once the full impact of interest rates is priced in and stocks have lost up to 90 % from their tops. That is when there will real pain will come. Or when the stocks start to form a base and stop going down. Not time for bottom trading yet.
2022 will see some companies in this sector going belly up. So cash positions and burn rate should be the main focus when touching any company in this sector. One should stay clear of companies that are running out of cash.
Morning open was very scary for the whole market but this sector seems to be craking more. This stock in the morning had little volume and few bids on the market book. This stock is getting too illiquid. Very surprised at low bids this morning. 