RE:BronxBull said:So you bought over $3...lol slumdawg wrote: No, I actually sold some at over $3, then more at the 2.60's price stop. I still hold a small position. Read what I said: I've heard this CONSOLIDATION theory (BS) since the PULLBACK from over $3. Pumpers were saying consolidation through the 2's, then through the 1's, and even now in the double digits as low as in the 30 cent range. Pumpers: Stop fkg lying to new investors. What's the reason for this Consolidation theory, bag holders trying to push the price higher in an attempt to get their money back. Let's wait for earnings and see what happens. Happy investing yall.
Consolidation is not BS. Namaste wasn't consolidating back in early 2018 when it crashed like the entire weed market. It was being shorted and was clearly over bought due to the larger funds moving the entire market to get everyone to hop on the train. It bubbled as large as it could and people panicked once it started dropping which clearly caused a ripple effect. Now that edibles are on the table its brought more consumer and investor confidence so far.
When a stock is gapping up multiple times in a row its called being over bought. If it doesnt consolidate and keeps going up it will cause more volatility and which will not allow for consolidation. Let people take their profits and it will be driven up slowly once again.
Thats my opinion, although it may be wrong. Its hard to tell with this market.