RE:Hexo is a falling knifeThe Market will Set the price. We seen Canacord pay .90 per share for HEXO when the stock was trading much lower. We also seen Directors of HEXO buying shares on the open market at .90.
Link to Reference https://simplywall.st/stocks/ca/pharmaceuticals-biotech/tsx-hexo/hexo-shares/news/trade-alert-the-independent-director-of-hexo-corp-tsehexo-vincent-chiara-has-just-spent-ca210k-buying-2-9-more-shares/ Current investors would have to decide to sell below these levels before the share price could drop. I doubt many will be some might (to each their own). If the share price holds low I would suspect the volume levels on the day will also remain low as we have been seeing over the last couple of weeks.
We are 39 minutes into trading so we will have to see where the day goes.
Q stocktradinguru wrote: We are still seeing lower highs and a new lower low on the daily chart...
Today, in the downtrend, we've seen a new lower low---.90 cents.
Looking at a chart, you would see a steep decline every day---and every week...
Today, we broke below a major support of .91 cents...
As I have said last week, and last week, Hexo would tank to .87 cents ( the price that started the runup to $1.73)...
.87 cents is the next major support....
Based on the economic bad news and COVID's potential second wave, Hexo could easily drop to it's all-time low of .57 cents...
I will only day trade when the bottom is in and we trade in a range....
Right now, for 3 weeks, Hexo is a falling knife....
You can never catch the knife, because it usually falls lower....
And remember this truth of DOW theory, a stock's price will continue to drop until some changes the directions, such as investor sebtiment, good news, bullish volume...