RE:RE:RE:Market cap of $831 million when it touched $1.72 todayVern, the entire stock market is driven by speculation on future events.
Examples: - Will the US Legalize and When? ( I say "WHEN" not "IF" the US will legalize, done deal IMHO, just the timing is unknown)
- Is there and will there be big demand for Cannabis related products in the future ? ( With increase sales QTR over QTR and new products rolling out i think that is answer enough -> YES )
- Will companies be profitable servicing the sector? ( I see HEXO and a few other Cannabis producers moving toward profitability with HEXO expecting to post EBITDA positive as soon as the next QTR report in 2 weeks )
- For daytraders focused on the Shareprice they are making plays on daily moves and the daily top and daily bottom for the shareprice. You can do well making those plays but you can also get burned bad with the wrong trade. We likely have many who sold at $1.10 / $1.20 who are now buying back in at a higher shareprice and coming away with less shares than they had 2 weeks ago, that's the risk of trading your entire position on a run.
The list goes on and on but I need more coffee and I have likely outlined this before on the forum. You can go long and speculate on these things happening within whatever timeframe you like or you can jump on and off a stock (Long or Short Positions) and risk getting caught having to buy over your last trade, that's a risk with trading in and out all the time.
The short play is for pros, go max out your margin account if you like, it's your call, just understand that there is literally no cap as to how high a shareprice can go.
GLTA
Q
VeritasVern wrote: Quin its not a case or more smart by not shorting, rather - less dumb by not selling long positoins. clearly there no material news and this pops from 0.95 to 1.72 when the latest financials were mostly a non-event?? There would have to be some big profits involved in a company that has a market cap of $830 million. Hexo is no where near that and highly questionable if they will ever be