GREY:VGFCQ - Post by User
Comment by
Bullchart1on Jun 26, 2020 8:14am
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Post# 31194068
RE:Financing needed badly
RE:Financing needed badlyFinancing may be needed but I have little doubt that will be a problem. Everyone was going nuts about the high evaluation on BYND with their IPO. I found it interesting that BYND ran 525% from the low on their IPO to the high 13 weeks later. VERY also did 525% from the low of the IPO day . VERY only took 1 day to do 525%.
I agree...Crazy move but can't fight the tape.... too far too fast, however as mentioned, volume has died off so how do the big boys get shares? Likely by running this back and forth and hitting stops they see 10-20% below.
I really enjoy tracking moves like this. In general they all behave the same. Yesterday we get a higher low with lower vol. We need a day of lower lows and lower highs and higher vol to get the cobwebs out.
Marketwhiz wrote: The ipo was a hard sell as they raised only 4 m. The dummy after market took this to an insane level where it still is. Beyond trading at 10x tattoed chef trading at less than 2x revs. Even if they exited at 3 m in 2020 sales this is trading at 30x in a market with extremly small growth.
they need to finance this badly. 90 cent bouht deal would allow survival for 10 m. I dont think they could do that. But they need to.