RE:RE:RE:RE:RE:Let's have a serious conversationToorealistic wrote:
I quite enjoy the debate as well. Why legalization did just occur it is far from a new industry. These companies have been built out since before 2016 even. Is the law new yes. However the industry has been around for quite some time and supreme was one of the first that had their foot in the door. With that said supreme is clearly the worst-performing stock in what was to be expected one of the top five. You haven't answered my original question though. With the triple top in October and the ridiculously large bounce 2 weeks ago, what are the chances, in your opinion, that it will break through that resistance
Yes, but the medical industry was significantly smaller than the new recreational industry, which is Supreme's focus now, so that's why I stated that time frame. The time frame of "meaningful" revenues.
While I haven't day traded in a decade, triple tops are generally pretty tough to break through if nothing of substance is pushing the stock. However, I do believe in the next two quarters and going into 2020, we will break through that barrier. It will be tough to supress the share price and multiple if they end up generating anywhere close to 75+MM/annually.
So with no time frame given by you, I gaurantee it will break resistance. To me it will take 6-12 months, which for my investment style is fine. I spent two years loading up on triple inverse leveraged ETF's to short the major US indices, paid off, but took two years and some pain. I feel like this will involve less pain, and have a shorter time horizon.