Post by
quinlash on Apr 29, 2024 4:48pm
RE:RE:WEED CGC and ACB UP and DOWN Zzzzz??? UP and DOWN Zzzz
You have to consider that there's more traders than yourself who sold short and are now trying to buy back. The difference is they are likely not going to risk their profit so that you can avoid a loss.
A short cover relies on buying shares from those who hold them. If they all opt to jack up their targets shorts are forced to follow and increase their bid to cover
They're literally under contract to buy.
Trading is easier when you know the full set of rules.
Comment by
BrokerG on Apr 29, 2024 5:08pm
What the heck happened? Did Canopy just announce bankruptcy or something? NO other Cannabis stock or MSO get clobbered the way we did today. Did I miss a news release? My only hope is shorts are trying to bring down price before any announcement on Scheduling.