TSXV:EAST.H - Post by User
Comment by
SuperMoneyon Nov 21, 2019 1:46pm
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Post# 30379203
RE:RE:Speculations
RE:RE:SpeculationsRiskitbiscuit, good comments and always enjoy to read. Thank you.
People are starting to buy shares at $0.045 now......and trading volume is slowly increasing now. Please check the tradings at all markets at: https://www.stockwatch.com/Quote/Detail.aspx?C:EAST Riskitbiscuit wrote:
SuperMoney wrote: Hi, Riskitbiscuit, Stock20 and all other friends here, As 2020 comes closer and closer, the season of tax lose sells near end, and general trend turning around for the sectors, what are your speculations for EAST given the company’s strong fundamentals? Any thoughts please. Thank you in advance. Cheers.
I would expect to see a lot of tax loss selling in the cannabis sector generally, as we are at or around fresh lows and there are no doubt a lot of bag holders that bought throughout the year. East may not be immune to that selling pressure, and it's hard to know what it's exposure to that sector might do to the stock short term (even though it's not a cannabis company).
But I also believe a lot of the company's shares have changed hands recently. If there are a significant amount of buyers below 5 cents then we may be somewhat insulated from that tax loss selling. Those who bought in under 5 cents over the last month or two won't have the loss to sell.
It's pure speculation, but I think a lot of the bag holders who bought in the 10-15 cent range (the last large volume pump) have already sold their shares. If Odelay couldn't hold through that drop in October I doubt many weak hands did. If I'm right, tax loss season may have already taken its toll on this ticker. Here's hoping.
In any case, the big picture has not changed and the downward trend is starting to reverse. What's more comforting is that the reversal is slow and beginning to look consistent. We're not seeing huge 1 day volume pumps where the stock goes up 50%. Those gains are rarely ever sustainable, day traders just ride the wave and take profits before the bell rings, and we're right back where we started. I like small, consistent gains in share price and that's what I'm seeing week to week since 2 cent lows. Hoping it continues.