Yesterdays DipAfter seeing the return to normal trading today, my feelings are that yesterday was a bear raid. I have aprox 15 Cannabis companies on my watch list and everyone but Khiron was red yesterday, including all the big guns, Weed, Aura, Hexo, etc.. I do not believe that MMJ was selling, anyone holding today i would suspect is waiting for the Qtrly report, this to me again reinforces the Short thesis.
On Monday I saw a news article that suggested POT companies may continue to be shorted and possibly more heavily as we approach earnings release, low and behold the very next day it happens. Personally I try not to be influenced by the financial media, but the sell side guys, MS, GS, etc.. are very good at spreading fear. Shorts need speculative news and volume. Once the shorting begins, stop loss selling and fear keep the ball rolling. There was an attempt this morning to see what additional shorting opportunities might be there, but Premarket rose from -4 to -2 at the open. Again today, as I`ve seen many times in the last minute of trading with HVT, the share price rose, today by .02. We have some savvy HVT traders, they are setting the baseline for the next day.
I also appreciate the lockdown on news from Grant and the Team, nowhere is there any info on how things are going. Most other speculative pot stocks are creating news storys out of basically nothing trying to attract investors, imo this bodes well for end of Feb. We dont even know when the Q will report and this will help to keep shorts at bay. Some others on this board have suggested at 4 to 5 mil earnings for this qtr., this would be very good for the share price and I personally hope that CBD factors into the overall equation, simply because I think there is more gain from the dreamwater and satipharm aspects of HVT.
I also heard M/A suggested during this recent virtual investors presentation, it wasn`t really emphasized, but I did hear a `Stay Tuned`, this also could be very good.
Well anyway my 2 cents worth, GLTA