RE:RE:RE:Final Cleaning out of weak handsYeah, never underestimate how irrationnal a market can be XD
I could have easily shorted Canopy (WEED) and 40$ and be broke by now... Or look at NEPT up like 16% currently... Do you really believe this piece of junk, unknown and unprofitable company could be worth half a billion in market cap?? Do you really think a contract with Tilray could ever be worth 60-70M$ in market cap...Heck the contract will probably still not make this profitable!
Yet it's there and who knows how far the market can take it before everyone realized how stupid the valuation is.
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As far as my entry point for RET?? Hmmm, well that's a good question hahaha... I still havent figured it out myself... Honestly, I'm not looking for a long position, but just for a swing trade on a bounce back after such a steep decline... Honeslty, I've got no metric to give you, it's more of a sentiment thing... When it'll seem to have bottomed and that the selling volume decreases in a sustained way.
Honestly, it's hard to justify going long here...I dont have myself a deep value / Net Cash Back portfolio.. It would make sense to hold deep within a deeper basket of value stocks, but individually, I don't think I would purchase it for a long position...
I have this friend who used to work at their head office and she hates them lol... management was pretty lousy according to her... When was the last time the company had a profitable quarter? Do you really believe in the future of retail?? What do you think will happen the next quarter or 2 or 3 if they still are losing money (which, let's face it, seem very likely)?
Obviously, it might be a table pounding buy at this point, as you claim, but honestly, it's just not the type of stock I would go for personally...